Lumber futures for May delivery reached $1,212.70 per thousand board-feet this week, setting a new record, according to Benzinga.com.
Housing industry leaders are warning that these higher prices, coupled with a growing shortage of lumber for construction, will further drive up real estate prices.
Lumber prices skyrocketed by 88.5% between April and September 2020, then rose an additional 42.6% after coming out of a two-month decline that ended in November 2020.
Read the full story from Benzinga here.
