Lumber prices going down as house sales slow, experts say

Lumber prices are going down, but the cost of a house is still high compared with pre-COVID-19 levels, experts say.

Lumber costs are going down, but the value of a property is nonetheless significant compared with pre-COVID-19 degrees, gurus say.

AP

Lumber costs that skyrocketed for the duration of the COVID-19 pandemic are setting up to decline as new dwelling sales drop, but industry experts advise continuing to hold out just before creating a property or beginning on your future project.

Lumber rates peaked in Could 2021, reaching a value of $1,711 for each thousand board feet, in accordance to Darin Newsom, a industry analyst and commentator.

Just before the COVID-19 pandemic, price ranges averaged $300-400 per thousand board feet, Jack Izard, vice president of all-natural resources investment decision at Area Timber Advisors, explained to McClatchy Information. Charges are now all-around $600 per thousand board ft, he mentioned.

Charges started to surge after March 2020 mainly because of a rapidly rising demand from customers for lumber as

Read More