Lumber prices have fallen recently and that is returning some normalcy to a market that since last year has seen an increase in prices around Canada and elsewhere.
The lumber shortage and increase in prices had been impacting the housing market by delaying building and adding higher costs, and there are a variety of other businesses that rely on lumber for a myriad of purposes and it has been causing them pain too.
When will lumber prices return to normal? Will they ever return to normal? That might be the question that many are asking since the dramatic rise in the lumber market that we have seen.
The shortage of lumber had fueled an issue with skyrocketing rates but that seems to be cooling now as more reports are coming out for the United States and Canada that now lumber prices are coming down.
Some are already suggesting that the worrisome inflation in the market, that has recently been a popular topic of discussion, is only temporary; looking at lumber prices as an example now with prices falling.
It’s estimated that those increasing costs around lumber had been adding thousands of dollars onto the costs for home building around the U.S. and Canada while prices grew.
The news that things are returning to normal perhaps is good news for those who could afford to see those prices fall some, as they’ve been arguably in a bubble for years.
Right now it is said that lumber prices are coming back down to earth with the fall, as they are on the decline after a media-worthy increase through the pandemic.
Are we going to see lumber prices spike again? Some had suggested that we wouldn’t see the prices retreat until next year, but we are already seeing some of it now.
This recent lumber price crash might be said by some to be long overdue because of the run in lumber prices that had many asking when the market might return to some normal level at some point.
Lumber Shortage Problems
The lumber shortage had been causing issues for months now and meant there had been an increase in lumber thefts and was making it harder for many businesses and individuals to find a steady supply for what they need.
The historically high prices were essentially holding back some new home construction and adding new costs in multiple places for businesses and individuals.
The lumber shortage was hitting multiple places, such as home owners and home buyers alike, and there might be some surprise now to see the prices already starting to possibly return to normal levels along with relief.