Lumber prices drop

After great demand and supply-chain issues pushed lumber prices very high since the pandemic emerged, the last few months have seen prices drop, according to Nasdaq data. In January, lumber prices reached a height of $1,329 per thousand board feet but had fallen by over 50 percent in late May. The increased price of building materials due to imbalanced supply-demand metric of homes has been one big factor in stymying building, a critical relief valve in increasing the nation’s housing inventory.