A 28% decline in the value of new residential construction through the first seven months of this year compared to the same period in 2007 (see p. 113) has pushed ENR's 20-city average price for the most commonly used species of 2X4s 2% below a year ago. That follows year-to-year September declines of 8% in 2007,11 % in 2006 and 4% in 2005. The mill price for framing lumber tracked by Eugene, Ore.-based Random Lengths was down 2.4% from a year ago, and 40% from 2004's peak price.
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