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NOTEBOOK – ONE GOOD READ: Lumber prices are falling – quickly


Lumber futures have dropped 52% since early March as rising interest rates for home mortgages have put a damper on new home construction, reports Rob Litterst for the Hustle. During the pandemic, supply chain-related issues and the increase in home projects caused the cost of lumber to escalate at the fastest rate since the post-World War II housing boom. Now, as the housing market cools, lumber prices are falling as well. In April, only 12% of lumber dealers reported low inventories, down from 61% a year ago, writes Litterst. In addition, many dealers are cutting prices to avoid having too much supply on hand. Prices, though, may not reach pre-pandemic levels. Some producers are cutting back their operations, a move that affects prices. In addition, continuing shipping problems and duties at the U.S.-Canadian border will keep prices higher than they were in early 2020.

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