Why Lumber Prices are Spiking
Post date
June 04, 2021
Body
Jen A. Miller, Construction Dive
If a tree falls in the woods, how much is it worth? Right now, in a market with a lumber shortage, a lot.
Lumber prices have spiked this year. Lumber futures contracts for May delivery hit $1,645 per 1,000 board feet, up from about 60% a month ago, and 374% over the last year, reports Wells Fargo. It's the fastest rise since the post-World War II housing boom