How Today’s Market Affects Your Project and Pricing

Let’s look at the past seven years, since that’s where the story really begins.

Wood pricing has historically been predictable, with fluctuations tied to the housing market’s rise and fall—which, in turn, depends on homeowners. Do they have a good job? Are interest rates low? Do they have confidence in their contractor? All of these factors play a major role when it comes to remodels or new construction.

However, the last several years have been anything but typical.

2019–2020: The Renovation Boom

This time frame is when we saw the biggest boom in building, DIY, and renovations.

Why? Eventually, when you stare at your kitchen and bathroom cabinets long enough, you decide… yeah, let’s change that. And before you know it, it turns into a whole-house renovation—especially when paired with historically low interest rates.

Add in more time at home during the pandemic, and suddenly:

• Homeowners were more aware of every worn-out surface and outdated finish
• Contractors’ schedules filled up months in advance
• Lumberyards and suppliers started seeing unprecedented demand

With this surge in demand, it set the stage for what came next.

2021: The Peak Year —When Demand Outpaced Supply

Compared to previous years, vendors were charging almost a 200% increase purely due to demand. Stateside, multiple sawmills closed, ultimately leading to drastic pricing increases. Availability became the leading factor.

It wasn’t just about cost—it was about whether materials were available at all.

Projects that used to take weeks to source materials for were suddenly delayed by months. Some product lines had extended lead times or went on temporary backorder. For contractors and builders, this meant: Revising project timelines, pricing adjustment after bid acceptance, and the tough talk of budget vs. expectation.

For homeowners, it meant deciding whether to wait, scale back, or push forward knowing costs had shifted dramatically.

2022–Present: The “New Normal”

We’re now dealing with the residual effects of the economy clawing its way back to “normal.”

While prices seem to be leveling out, there’s always a catch that often goes unnoticed—especially when it comes to supply and demand. While companies work to provide the best quality at the best price, it ultimately becomes the question: “Would you rather?” Pay more for higher quality, or pay less and get ‘okay’ quality?

Here’s what that looks like in today’s market:

• Some pricing has stabilized, especially for common grades and standard products
• Specialty items and higher-end materials can still see sharp swings based on availability
• Lead times have improved, but aren’t always back to pre-2020 levels across the board
• Quality gaps are more noticeable: cheaper options may save money upfront but can cost more in the long run through replacements, repairs, or dissatisfaction

In short: the market is calmer, but it’s not the same as it was in 2019.

What This Means for Your Next Project

If you’re planning a remodel, addition, or new build, the big question isn’t just “How much will this cost?” but “How do I make smart choices in this environment?”

A few practical tips:

• Plan earlier. Locking in materials and timelines sooner can help you avoid sudden price jumps or delays.
• Prioritize where quality matters most. For high-traffic areas or long-term investments, higher-grade materials often pay off over time.
• Be flexible where you can. Sometimes small adjustments in species, grade, or design can keep your project on budget without sacrificing the look or function you want.
• Talk to your supplier early. A good partner can help you navigate options, anticipate changes, and build a plan that fits your goals and budget.

How Meridian Products Fits In

Meridian Products prides itself on providing top-notch quality at the most cost-effective prices given the current economy.

While pricing can fluctuate based on market activity, we constantly reevaluate how we can better serve our customers, and in turn, ensure they are happy with the outcome in every aspect.

That means:

• Staying on top of market trends so we can advise you accurately
• Offering a range of options so you can balance cost, quality, and timeline
• Being upfront about what to expect, so there are no surprises halfway through your project
• We’re not here to just sell you materials. We’re here to help you make informed decisions that support your project’s success.

So… WOOD You Rather?
So… WOOD you rather go with the flow of the economy, or choose the cheapest option that may not deliver the highest quality? Your call.

At Meridian Products, our goal is to make that choice easier by giving you honest information, quality options, and a team that’s invested in your project’s outcome.

If you’re curious how today’s market affects your specific plans, reach out. We’re happy to walk through your project, explore options, and help you feel confident moving forward.