If you are like us and saw the skyrocketing prices for lumber, you can take a deep breath now as the Lumber prices have come down!
"Lumber futures fell below $500 per thousand board feet, the lowest since July 2020 as demand continues to slow while mill production has rebounded as the labor-related issues from COVID dissipate. Vaccinated Americans started to travel and book holidays as more businesses and activities reopen instead of spending on home renovations. Lumber prices jumped more than 500% between April 2020 and May 2021 to hit an all-time high of almost $1,700 on May 7th, as sawmills were unable to meet unexceptional demand for home building and DIY home improvements spurred by the coronavirus lockdowns." according to https://tradingeconomics.com/commodity/lumber
What will happen to the lumber prices? It looks like it will taper off and increase slowly.
