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October 21, 2020
US lumber prices finally starting to decrease, supply shortages persist, caution required
Lumber prices are finally beginning to decrease after months of skyrocketing prices amid the pandemic. At the start of the pandemic, lumber mills and factories temporarily shut down, though not for long. As the construction industry was deemed essential, they opened their doors but produced at a slower pace due to safety restrictions. The production slowdown, coupled with high demand from homeowners, led to historically high prices and extended lead times. “Right now, the demand for people to invest in their properties is at an all-time high. People are pulling the ...
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