Lumber Prices Retreat as Supply Expands
Lumber prices have retreated from last month's all-time high as sawmills ramp up production, signaling the dizzying pace of new-home price gains could slow.
June 14, 2021 2 MIN
Lumber prices have retreated from last month's all-time high as sawmills ramp up production, signaling the dizzying pace of new-home price gains could slow.
A spike in lumber prices has added about $36,000 to the cost of a new home as builders and renovators compete for limited supply from sawmills, NAHB said in a new report.
U.S. housing starts soared to 15-year high last month, according to a government report, signaling relief for supply-constrained market
The IMF upgraded its economic growth forecast, saying the U.S. will lead developed nations with a 6.4% surge in GDP this year, faster than the 6% global pace.
