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January 29, 2023

North American lumber prices up 13% as the housing market shows signs of a rebound

North American lumber prices soared as much as 13% on Friday as the housing market shows signs of life for the first time in over a year.    Lumber futures jumped to $524 per thousand board feet, its highest level since mid-October. The essential building commodity is up 21% since encouraging housing market data was released earlier this week, and is up 37% year-to-date.    Lumber had been pummeled throughout 2022, falling 67% as soaring mortgage rates weighed on the housing market considerably.    The average 30-year ...

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