Are Lumber Prices Finally Starting To Normalize?


Are Lumber Prices Finally Starting To Normalize?
By Scott Rogers • June 24, 2021
If you haven't heard -- lumber prices skyrocketed during COVID. The graph above shows only the past 12 months. If we look a bit further back we can get a bit more context... Jan 2017 = $304 Jan 2018 = $461 (May 2018 = $639) Jan 2019 = $328 Jan 2020 = $398 So, "normal" over the four years prior to COVID seemed to be a range of around $300 to $475 --- although prices did rise to $639 back in mid 2018. But then, as lumber mills shut down due to COVID and production slowed, prices skyrocketed, getting as high as $1,635 in May 2021. But over the past month, that price has fallen quite a bit... $1,635 on 5/3/2021 $891 on 6/21/2021 So, a nearly 50% decline in prices over the past 45 days? That is solid progress towards getting lumber prices back to their long term normal-ish range. Hopefully this will mean we'll start to see more new construction, creating more housing inventory, and easing the inventory strained housing market... Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 23, 2024 (unless otherwise noted).
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