The worst may actually be behind us for lumber prices, CoreLogic Construction Expert Glenn Bearden said in a recent company podcast.
US lumber prices were up 54% year over year as of the second quarter, but Bearden asserted the market forces and human element that combined for a perfect storm for the increase have dissipated. "There's been a noticeable decrease in market pricing. And it all seems to coincide with the pandemic and how things are beginning to wane," said the CoreLogic expert.
However, he predicted prices will decrease more slowly for the consumer because suppliers are better positioned right now to earn a little bit more with the falling rates for plywood and other lumber.
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