Lumber Prices Climbing Again

After drifting lower from mid-September to mid-November, lumber prices are on the rise again. Prices peaked at an all-time high of roughly $950 per thousand board feet in September before gradually moving down to around $550 per thousand board feet last month.

However, according to Random Lengths, lumber prices are now above $650 per thousand board — up nearly 20% over the past four weeks.

Elevated lumber prices since mid-April have added thousands of dollars to the cost of new single-family homes and apartment units.

Indications are that lumber producers are reducing production heading into the slower winter building season, even as new residential construction continues to outpace seasonal norms.

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