The 2020 lumber price spike (and why it matters)

By Yuka Kato | FIXr

Even as families across America express interest in moving to lower-density areas and building homes, an increase in the price of lumber across the board is making their dream inaccessible for many.

Lumber prices have more than doubled since spring. In our graphic below we honed in on the daily trading price of lumber in the United States by comparing the prices of 1,000 board feet lumber, with figures sourced from Nasdaq market activity. Just $260 on April 1, this number had increased to $840 by August 21: a full 220% increase in price.

Below the main graphic, a visual describes how this spike in lumber prices has affected the consumer price of new homes across America. For new single-family homes, the average price has increased by a hefty $16,148. The price tag on a new multi-family home has increased by $6,107.

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