Lumber crash leads to 'blowout' sales as prices crater

# · 🔥 603 · 💬 525 · 2 years ago · www.cbc.ca · awnird · 📷
At family-run Peacock Lumber in Oshawa, Ont., owner Glen Peacock said retail prices have "Collapsed" in recent weeks. North American lumber prices hit record highs of more than $1,600 US per thousand board feet in May - three times higher than pre-pandemic levels. The price roller-coaster had customers pre-ordering lumber months in advance to ensure supply and even resulted in a spate of opportunistic thefts from construction sites across North America. Liz Kovach - president of the Western Retail Lumber Association, which represents retail lumber, building supply and hardware stores in Western Canada - said the pandemic price bubble burst with the arrival of summer. While consumers may already be benefiting from lower prices at home improvement stores, homebuyers signing new construction purchase contracts are still seeing elevated prices. While difficulties related to lumber have eased, home builders are still dealing with delivery delays and price inflation on everything from plumbing and electrical products to kitchen cabinetry. Home centres are noticing increased traffic as customers try to finish projects before winter, Quinn said, and retail demand tends to be a leading indicator for lumber pricing.
Lumber crash leads to 'blowout' sales as prices crater



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