Lumber prices plunge 40 percent since May’s record high

By Robert Dalheim

Lumber prices have fallen below $1,000 per thousand board feet for the first time since March. Prices have now dropped 40 percent since May’s record high.

Prices peaked on May 10 at a little over $1,700 per thousand board feet.

Prices are still way up historically – around 175 percent over the past year. They are expected to remain elevated, at least for the near future.