Lumber went to all time highs in 2020 and 2021 because of an increase in demand at the same time as decrease in production.
Production has finally increased to meet demand. So, prices are coming back down to where they normal range they were in pre covid.
The Lumber Broker
Somehow I can't find racism in this behavior of the lumber market. But I am trying. Our leadership at BLM (Board Lumber Matters) tells me its there.
Actually even with this decrease they are still up huge from prepandemic but you are generally correct
I spoke with someone in the housing business back then who gave the same explanation. The cost of lumber skyrocketed, which led to an increase in the price for new home construction.
How will this affect other construction-related materials? For example, I have been waiting to have my roof re-tiled and some other fix ups and improvements.