Lumber prices dropped to a new 2022 low by further 4% as high mortgage rates crushes the housing market

Posted on September 5, 2022   |  

• The lumber prices by 4% to $465 per thousand board feet, which is below the low seen in early August of $470, which is a sign of a slowdown in the housing market that may last longer than expected.
• In August, the existing home sales are likely to fall by 12% and new home sales to be flat, due to a decline in purchasing intentions.