Lumber Prices Hit Two Year High In July Family Handyman
Lumber prices reached their highest mark in two years last week as the Random Lengths Framing Composite Price hit $523 per 1,000 board feet, a 50 percent increase since April 2020. According to the National Association of Home Builders, prices had not risen above the $500 mark since July 2018. The reasons for this rapid increase stems from the impact of COVID-19 on the lumber supply chain. When the coronavirus pandemic slowed construction activity across the country earlier this year (and shut it down completely in some states), demand for lumber dropped significantly....