We’ve been following the issue about higher lumber prices for some time now. In fact, we recently posted about how increased lumber costs are adding over $24k to the price of a new home. The folks over at John Burns Real Estate Consulting recently put together a quick infographic illustrating the path to rising lumber prices. Stay safe and have a Happy Friday!!!
“We expect lumber prices will remain elevated into 2022, but lower than today’s extreme rates. Capacity takes time to bring online. We are aware of six mills restarting or adding capacity, but we estimate it will take them 6–18 months to ramp up production.”