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LUMBER PRICES COME BACK TO EARTH
Lumber’s staggering run during the pandemic has finally come to an end. In fact, prices have fallen so dramatically that they are down over 30% year-to-date.
Lumber saw it’s all-time high of $1733, per thousand board feet, during futures trading. The seemingly exponential price trend caused many stores and renovators to think twice about purchasing the commodity.
The dwindling demand, coupled with construction season winding down, has put enough downward pressure on lumber, causing prices to drop dramatically (see graph).
Prices, however, are expected to come back up as wildfire seasons begins and threatens to destroy timberland and disrupt transportation. Better head to the lumber store before the roller coaster starts it’s second round!
