After surging to record highs at the pinnacle of North America’s pandemic housing market boom, lumber prices have taken a tumble in 2022 and recently hit their lowest point of the year to date. A spike in borrowing costs and a cooler housing market saw lumber futures plummet to a low of $413 per thousand board feet at the end of September, 64% down over their peak this year, with the sky-high prices of 2021 a distant memory. Higher mortgage rates are “dampening everything” where the lumber market is concerned ...
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