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After a massive run-up last Summer and periodic spikes since then, lumber prices headed back to earth in mid-June.

Yet, the National Association of Home Builders says lumber prices are still higher than they appear. While data from Random Lengths shows that the cost of framing lumber has dropped roughly 50% over the past seven weeks, the association says prices paid by builders have declined by a fraction of that amount. In fact, it says the prices quoted to builders are at record highs.

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