It’s going down. I’m yelling timberrr. Bad joke, but good news for home construction costs, unless you’re a timber dealer. After more than tripling since 2020, lumber prices have crashed over 60% lower as of Tuesday. Surging lumber over the past two years helped drive construction costs tens of thousands of dollars higher. Now that […]
Canada’s central bank used lumber prices to dismiss inflation, but it’s doing the opposite. In October, the Bank of Canada (BoC) used lumber to back its transitory inflation narrative. Short-term supply chain issues are the problem, not monetary policy, they explained. Excess demand fueled by easy money has since been acknowledged as the culprit by […]
Lumber prices continue to spiral lower, and that might be a good thing for home prices. The commodity surged throughout the pandemic, hitting an absurd high in May. Since then, prices have plummeted back to reality at a rapid pace, wiping out all of this year’s gains. This can result in a huge discount for […]
Lumber prices are still crashing, marking the ninth consecutive week of declines. The cost of the commodity has seen more than a quarter of its value fall in the past month. Since the peak price reached just over two months ago, prices are now down by more than half. As much as they’ve fallen, experts […]
Weak home sales and generally slowing demand have sent lumber prices into a tailspin. The price for the commodity shed another 7 points over the past 7 days. Lumber is now trading at almost half the cost it was 45 days ago, at the record high. Even with that kind of haircut, experts see prices […]
Even lumber executives are now telling people they should wait for costs to fall. Kyle Little, CEO of Sherwood Lumber, told CNBC he expects lumber prices to drop over the next year. The executive even encouraged people to wait before building those discretionary projects. Wait For Lumber Prices To Fall… If You Can Discretionary building […]
The recent surge in lumber prices helped to push home prices higher, but now they’re crashing. Lumber prices closed today nearly 30% below the all-time high reached in May. The recent surge in prices pushed builder costs up by tens of thousands of dollars. This sent new home prices much higher, leading to an interesting […]
North American lumber prices are soaring, sending homebuilding costs higher with it. The good news is, relief may be just around the corner. BMO Capital Markets updated its Benchmark Western Spruce-Pine-Fir (SPF) lumber forecast for April. The bank sees lumber prices dropping in the second half of the year. By 2022, they expect lumber prices […]
