Increased shortage of lumber
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Why is lumber so expensive?
Ultimately, as the demand for lumber continued to increase over the past few months, supply has not been able to catch up, resulting in an increase in lumber鈥檚 cost by 340% or more in particular locations. If you haven鈥檛 already, check out our updated post on When We Expect To See Lumber Prices Decline! How we can help!
What are the main causes of the wood price increase?
The time, shortage and demand are those causes which have made life more costly. So, prices of wood are also affected by these causes as well. As the previous year was a difficult one for all of us, so it was for lumber industry as well. This issue has started from the start of the pandemic 2019 and has continued till now. 1.
How much does wood cost per thousand board feet?
Just a few months later, lumber crashed back down to less than $600 per thousand board feet. It appeared the cost of wood might hover close to those pre-pandemic levels for some time. Unfortunately, that was not the case. Lumber prices doubled from November 2021 to January 2022, climbing back over the $1,000 per thousand board feet threshold.
What will happen to the wood prices in winter season?
The prices of wood are expected to be decline in a few months due to the change of seasons. As we know, the demand of wood is always more likely to increase in winter season. So, was the demand in previous year. As the season is changing so we could expect a decline in the prices of wood.