Lumber Prices are Crashing: What That Means for Home Depot
Lumber prices have taken a wild ride since the onset of the pandemic. Folks who were largely cooped at home took to starting home improvement projects, many of which required wood.
Imbalances in supply and demand pushed prices for lumber from $285 per 1,000 board feet in March 2020 up to more than $1,000 for the same amount in September 2020. And though they fell back below $500 just a month later, prices then began to stagger upward again, until March 2021, when they skyrocketed from around $800 for 1,000 board feet to a peak above $1,600 in May.
However, since mid-May, lumber prices per 1,000 board feet have crashed back down and now sit at $490.
Source Fool.com
