Wis. (WLAX/WEUX) – Low interest rates and a shortage of available homes continue to drive construction despite high lumber prices.
Lumber prices dropped to an all-time low at the beginning of the pandemic. It then began to rise, reaching all-time highs.
Kevin Anderson, the Branch manager of Lyman Lumber says these high prices won’t last in the long run, but they’ll also not return to previous levels.
Kevin Anderson Branch Manager-Lyman Lumber said, “Lumber has been pretty much static for the last several decades, so this is an opportunity to do a correction on that, so we’re not going to see $10 osb anymore. That’s not in our future.”
Anderson says some of the reasons lumber prices are so high right now are due to labor shortages at both the mills and in the transportation industry.