How higher lumber prices could impact home building in the U.S.

Volatile lumber prices are causing uncertainty for construction businesses. In April 2025, the price of softwood lumber was 23% higher than the previous year. Lumber futures in Q1 2025 surged on fears of higher duties as well as sawmill closures across North America. But while lumber escaped the latest round of tariffs they are on the radar of the Trump administration. Canada accounts for about 85% of all U.S. softwood lumber imports and represents almost a quarter of U.S. supply.