For lumber suppliers, the tight supply and mile-high price of lumber that impacted construction projects nationwide this spring continue to cause frustration. But builders and homeowners remain optimistic as prices have since fallen to $479 per thousand board feet, down 68% since peaking in May at an all-time high of $1,515. Fortune reported that prices have dropped for the ninth consecutive week.
It’s unlikely that lumber prices will return to pre-pandemic levels, but whether they will continue their descent is up for debate. In fact, some are predicting an upswing in prices as we enter the back end of 2021.
