Last year was a volatile year for the lumber market, which faced both supply and demand issues.

Some lumber mills, particularly in Canada, experienced construction struggles. As that was happening, demand was soaring for lumber from multiple users, including retail locations building temporary COVID-19 protection barriers, do-it-yourselfers across the country, and new residential projects, according to JLL's construction outlook for the first half of 2021.

Then lumber costs fell as supply came back online and market conditions normalized. But then, in December in January, prices again jumped.

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Leslie Shaver

Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to and Real Estate Forum.