Price of lumber continues to climb reaching 280% increase: When will it come down?

For the last several weeks lumber prices have been setting weekly records.

Some experts say it could be a long time before prices get back down to pre-pandemic levels.

At this point, lumber prices are up approximately 280%, according to reporting by News10NBC. They say the price per thousand board feet of lumber this week shot up to an all-time high of more than $1,600.

“Products that used to be readily available and inexpensive are now very expensive and hard to get,” Vice President of Morse Lumber Pat Clancy told News10NBC.

Homeowners are describing prices and scarcity that are making home improvement projects difficult to start, or complete.

“The future of what that could sell for is unknown. With mills reporting that they’re operating at 60% capacity it’s becoming challenging to get at all,” Morse added.

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