Lumber prices are falling— and fast.
On Tuesday, the price per thousand board feet fell anywhere from $114 - $1,210. This comes after its record $122 decline last week. In all, the "cash" price of lumber is down 20% since the all-time high set on May 28.
What's driving the dip? Homebuilders and DIYers alike are finally balking at the exorbitant price of lumber. Rising supply and weakening demand is a perfect recipe for a price correction.
Gracen Tilton | Marshall Walker Real Estate | 582 Rutledge Avenue | email@example.com | 803-549-6318