Lumber Prices Dive More Than 40% in June, Biggest Monthly Drop on Record

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Prices are up like four hundred percents as compared to eighteen months ago. You have a shortage of sawmills. You've shortage of raw. Lumber mills have been shut down due to cova all these other things that pile up and at the same time. You've had this increasing demand for lumber because people want bigger homes. People wanna do home renovations all these things. And so you've had this disparity between supply and demand which leads to increased prices. Well actually over the last sixty days. Lumber prices have come down about forty percent from their peak at one point. Lumber prices were up to sixteen hundred dollars thousand board feet which was a record more expensive price than ever actually down now as of i think last week closed at like nine hundred dollars for a thousand board feet now the two by fours the plywood everything you see at home depot still going to be more expensive than what it might have been three or four years ago but we are seeing that come down. We're seeing supply pick back up With help with people renovating their homes help with new builds It's just kind of really been just a short term problem. I don't think personally the prices are gonna go back to pre pandemic levels because that's not the way inflation works but it's kind of a nice little relief that we're seeing For some the home builders some of the people that are thinking about remodeling some of the people are thinking about buying a new home and wondering what's going to happen with prices of construction in the future. Come down a little bit. Which is i think a good sign. Yeah thank goodness i mean. That's that's needed. And i mean prices can't go forever road they want them to. So that is great especially since we have not been tori and lots of

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