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Lumber prices dropped to a new 2022 low by further 4% as high mortgage rates crushes the housing market
Posted on September 5, 2022 |
- The lumber prices by 4% to $465 per thousand board feet, which is below the low seen in early August of $470, which is a sign of a slowdown in the housing market that may last longer than expected.
- In August, the existing home sales are likely to fall by 12% and new home sales to be flat, due to a decline in purchasing intentions.