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    Home » June’s Slump in Lumber Prices, the Biggest Monthly Decline Ever
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    June’s Slump in Lumber Prices, the Biggest Monthly Decline Ever

    July 2, 20211 Min Read
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    Timber industry
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    The lumber bubble initially anticipated in 2021 has popped as lumber prices and lumber futures dropped by over 40% in June, suffering its worst record since 1978.

    • The building commodity market has declined by more than 18%, leading to the first negative half performance since 2015.
    • On May 7, the lumber prices recorded their all-time high price of $1,670.50 per 1,000 board feet, which is six times higher than their pandemic low recorded in April 2020.
    • The reversal in lumber’s performance was triggered by an increased number of  Americans going on vacations rather than investing in renovation and building projects.
    • Early in 2021, lumber prices soared because of a mix of reduced supply and surging demand for new and improved homes.

    A 6.9% decline in mortgage demand recorded in the past week was an indicator of the contracting housing boom.

    DJI gains +0.17%

    Source: CNBC.

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