Lumber Prices Crash Amid Elevated Home Prices

Lumber Prices Crash Amid Elevated Home Prices
Workers sort softwood in a workshop in Madawaska, Ont., on April 25, 2017. The Canadian Press/Sean Kilpatrick
Naveen Athrappully
Updated:
0:00

Lumber prices have drastically fallen this year as the industry grapples with the consequences of high home prices.

Lumber is trading at $608.6 per thousand board feet as of June 1, which is over 54 percent below the Jan. 13 peak of $1,329. Kevin Mason, managing director of ERA Forest Products Research, believes that lumber markets are “probing for a floor,” according to Bloomberg.
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