US lumber prices are up 14% in 2023

US lumber prices are up 14% in 2023
US softwood lumber prices are up 14% so far in 2023 after suffering a brutal sell-off last year. Further gains could be in store for lumber as supply shortages emerge ahead of the homebuilding season. Upside volatility could be in store for lumber in 2023 after the essential homebuilding commodity surged 14% over the past two weeks. Following a disastrous 2022, when lumber prices sank more than 60%, the industry could see a revitalization as mortgage rates decline from their peaks and supply dynamics come into focus. The average 30-year fixed mortgage rate has fallen ...

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