The outlook for 2025 suggests that wood prices will remain elevated due to enduring supply constraints, global demand for timber, and economic trends that support continued housing development. Even as supply chains improve, a mix of factors—from geopolitical events to conservation efforts and the enduring demand for new housing—points to a market where lumber prices are set to stay high in the coming years, stabilizing within a higher-than-usual price range compared to pre-pandemic norms.