After a long series of up and down reversals, lumber prices are in a cooling period. As of early March, spot lumber prices have moved forward into the past — last reported at $370 per thousand board feet. It's a major tumble since January when prices were up 14% over the close of 2022, as Insider reported at the time. Sherwood Lumber told them that the "industry could actually find itself in an undersupplied market during the height of the building season."
Which is an example of why trying to follow markets point-by-point can be a frustrating experience. Now Yahoo Finance reports that the "days of pricier lumber may be over" and that in a note from UBS in February, a source said that most products would never be at pre-Covid prices again.
That seems odd, given how far prices are down. But it may not be an isolated view.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
