Lumber Prices Fall After Record Highs

The price of lumber, which skyrocketed to record highs in March, fell to $429.30 per thousand board feet in September. This pricing rollercoaster is old news; wood prices crashed in the earliest days of the pandemic only to soar a few months later. Inflation and disabled supply chains were significant contributors to the rise in price. Currently, higher interest rates are affecting mortgages and slowing home sales (down 13 percent since April). Additionally, an eased supply chain means that consumers are no longer overbuying for fear of a shortage. Paul Jannke of the Forest Economic Advisors predicts lumber consumption will decline up to 4.5 percent in 2023. Read more HERE.