Lumber prices are down over 20% in 2022 but are poised to gain upward traction

Posted on April 25, 2022   |  

• In 2022, lumber prices fell by 23% to $882 per 1,000 board feet as of Thursday but prices have softened due to higher interest rates slowed red-hot housing market.
• The sales of new homes in February fell by 6.2% from the year-ago period. which means the lower demand for housing could spill into demand for new construction next year, keeping downward pressure on lumber prices.