US lumber prices down to pre-pandemic levels at the start of 2023

Posted on January 9, 2023   |  

In 2022, lumber prices fell by 63% but the new year started with a reversal of record-high prices during the pandemic because prices have dropped to $365 for 1,000 board feet.

The pandemic forced labor shortages, which created supply issues for larger sawmills, and spiked lumber demand, as people tackled home renovation projects and construction boomed, but these factors have stabilized which has caused a drop in lumber prices.