Lumber is currently at $611 per 1000 board feet.
This is down from a peak of $1,733, and down from $647 a year ago.
Lumber price are down 6% year-over-year.
This graph shows CME random length framing futures through Aug 3rd.
There were supply constraints over the last year, for example, sawmills cut production and inventory at the beginning of the pandemic, and the West Coast fires in 2020 damaged privately-owned timberland.
The supply constraints have eased somewhat. Demand for lumber remains strong.