Well, that turned on a dime. Lumber prices, which had risen more than exponentially
during the pandemic and were a problem even before, have started dropping like
a 2 x 12 of clear pine. Those prices,
which peaked at $1,670 per thousand board feet on May 7, added, according to
the National Association of Home Builders (NAHB), $35,872 to
the price of an average new single-family home, and $12,966 to the market value of a multifamily
unit. The closing price Monday on the futures market was $897.90.