🪵 Update on Lumber Prices 🪵

Hey guys. The price of lumber is falling for the eighth consecutive week now. Pre Covid, it was 3 or $400 per thousand board feet that peaked in May at $1,600. Back down to a more stable level of 700 or $800. Big part of this. The sawmills are back in action, the supply chain to transport lumber is getting fixed, and consumers aren't quite as in demand for lumber. They're wanting to travel instead of spend as much money on their home projects like they were earlier this year. Experts think this trend is going to continue for lumber, but not so much for home prices. Those are still on the rise because of supply. Homes are way, way behind. We've been behind for a decade now. Lumber to cool down, but home prices are still on the way up.