US lumber prices skyrocket 250% as Covid drives home-buying demand higher ...News

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US lumber prices skyrocket 250% as Covid drives home-buying demand higher
source : Russia Today ( News ) () 32
Prices for lumber managed to grab the headlines after an unprecedented sharp increase which currently threatens housing affordability across the United States. “Lumber prices have skyrocketed nearly 250% since April 2020. This price spike has caused the price of an average new single-family home to increase by more than $24,000,” reported the National Association of Home Builders. On Monday, the May futures contract price per thousand board feet of two-by-fours reportedly surged from $48 to $1,420. The moonshot reportedly caused lumber trading to halt for the day. S

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