What’s going on with lumber?

Lumber has been a big topic lately, we have seen historical prices due to the pandemic. Well, it finally looks like there is light at the end of the tunnel. Lumber prices hit a record high on May 7 at the price of $1,670 per thousand board feet. Prices are a whopping 62% lower than that high, and one real estate analyst says the price will continue to moderate as supply chains normalize. Industry analyst believes that prices could fall between $350 and $450 per thousand board feet as sawmills reopen and more Americans receive COVID-19 vaccinations. These factors will calm the highly competitive housing market overall, says the analyst. Check out this great article about the current state of lumber production and when the best time to build is.

Here is a great article that gives more insight into the current state of the lumber industry.

Source: https://www.barrons.com/articles/lumber-prices-51626384991