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Started building a small shed in Jan of 2020 just before lock downs started. Have a receipt from Feb that I paid 2.89 for 'premium' kiln dried Doug Fir 2×4x8 studs. The 'white wood' was cheaper, but inventory at the time was twisted mess, and not worth savings. Another label you might find confusing on 2x lumber is the board length.

America and Asia, until gubermint decided north American lumber was better than alternatives, and reduced Canadian tariffs. Prices reduced by 10% for short time with tariff change early 2020. Only remember this change, as I was happy to see price drop between time I checked by budget and when I finally bought shed wood.
Lumber Prices
Depending on if kiln dried or green, doug fir or whitewood etc, last ones i remember buying were in the $2.39 - $2.79 range. NEXT, no matter where you live, even if code allows it, don't build with 2×4's. You should be building with AT LEAST 2×6's for the ability to crank up the insulation, to cut down on the cost of electricity, gas or whatever you'll be using, none of which is going down in the future either. And there is just that it's nice to be able to coast a bit when power goes down.

If you're building a house, you should be buying by the sling. Too, you should be buying from a real lumber yard and not a big box. Those two things can get you a lot of discount. Covid pricing sorta changed that gentle upswing in pricing. I watch the commodity prices like a hawk, but was trying to remember what a 2×4 @ 8ft USED to cost pre pandemic.
What DID a 2x4 Cost in 2019?
Some 2x boards are cut to 96” (8 ft.)—while others curiously measure a couple inches shorter. Look to see if your store has a special discount on “studs”—which they often do. Construction lumber retail prices surged winter 2019, due the wild fires in CA and NW on top of strong housing market. Sellers didn't want to buy Canadian lumber, as it had much higher prices thanks gubermint tariffs. Some softwood was imported from S.
Like everyone else, I'm trying to time the build of a new house around the cost of materials. By my feeble memory, and calculation; current prices are ~20-25% above pre-Covid prices. 7/16 OSB 4X8 sheet was about $12-$13 pre-pandemic. Bought a couple 2×4x8 sticks last week of Doug Fir, and paid $3.75.
Lumber Prices: Estimating the Cost of Dimensional Lumber
Best insulation doesn t have studs that touch outer & inner walls. Use offset 2×4 s on a 2×6 plate. Outer studs only support/contact outer sheathing. Best insulation doesn't have studs that touch outer & inner walls. Use offset 2×4's on a 2×6 plate.

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