Framing lumber prices have dipped steadily year-over-year, according to National Association of Home Builders in data reported by the Calculated Risk Blog.

Early in 2013 lumber prices came close to the housing bubble highs due to a surge in demand and supply constraints, says the Calculated Risk Blog. In early 2014, prices didn’t increase as much because of more supply and a smaller increase in demand.

Here's more from Calculated Risk:
In 2015, even with the pickup in U.S. housing starts, prices are down year-over-year.  Note: Multifamily starts do not use as much lumber as single family starts, and there was a surge in multi-family starts.

Overall the decline in prices is probably due to more supply, and less demand from China. 

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