After experiencing a meteoric rise during the pandemic, the price of wood is now falling sharply in Quebec, to the delight of construction contractors.
• Read also: Falling building material prices
If the price of the 2X4 reached $11 in 2021, it is now selling for $3.62.
Even if the price is down now, it will take a few months before contractors’ customers see their bills go down.
“Most of the time, contractors have bought their materials before, so the effect of the decrease will be felt later. It’s always a challenge. It seems that over time, we have experienced a lot of fluctuation in the level of wood, “says Eric quoted, CEO of the Corporation of General Contractors of Quebec (CEGQ).
However, prices should remain low, according to a market analyst.
“It is very unlikely that we will find an acceleration in prices as we have seen. So, I think we will become in a much more normal climate. It’s hard to say if there will be even better discounts eventually. We are in fairly normal prices for the moment, ”says Simon Brière, senior strategist at RJ O’Brien and associates.
Sign of economic slowdown, the price of wood has fallen by 70% this year on the market.
And it’s not the only material that is becoming more affordable once more: steel is back at the same price as in 2019.
