Lumber Prices Are Finally Dropping After They Soared During The Pandemic

[babylonsister]

Business
Lumber Prices Are Finally Dropping After They Soared During The Pandemic
June 21, 20214:49 PM ET


They say money doesn't grow on trees, but over the last year it did.

Lumber prices skyrocketed to historic highs during the coronavirus pandemic, fueled by a demand for new homes and a surge in renovations and DIY hobbyist projects by those of us on lockdown.

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How wood got so expensive

The construction-grade softwood-lumber market saw wild price swings over the past year, driven in part by the pandemic.

Demand for new homes and thus framing lumber like pine two-by-fours have surged. Some homeowners on lockdown indulged in their woodworking hobby or finally got around to renovation projects that had been on hold.

Meanwhile, sawmills struggled to keep up with the increased demand, especially as their workers were forced to stay home during infection spikes or actually caught the coronavirus.

The greater demand for lumber coupled with the dearth of supply meant only one thing: higher prices.

more...

https://www.npr.org/2021/06/21/1008843212/lumber-prices-are-finally-dropping-after-they-soared-during-the-pandemic

[dawg day]

1. Oh, great, just a week AFTER I had a new shed built.

My timing is always terrible.

[drray23]

2. I was floored when I looked at price of 2x4s

it went from 3.50 to 8.95 . We are getting a fireplace mantel done and luckily for once my procrastinating worked in our favor. I had planned to do it myself so I bought all the materials a year ago but never did it. We are finally getting our contractor to do it and it's just labor costs since we got the stuff..

[Indykatie]

3. Glad to See This.

I had an estimate done to replace my wood security fence that cost $2000 15 years ago. The estimate last month was $14,000. At that price I have to repair and replace a few planks that are totally warped or splitting.