Lumber market must weather a `treacherous' 2023 after last year's staggering 66% price crash as a US housing slump deepens

Jan 7 2023 by Business Insider

 
Lumber prices could come under pressure again this year as the US housing market extends a slowdown, analysts said.

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Lumber prices tumbled 66% last year – making it 2022's worst-performing commodity. Rising mortgage rates caused the US housing market to falter, leading to a slowdown in demand. Lumber prices are likely to remain under pressure over the first half of 2023, commodity strategists told Insider.

Lumber prices plunged 66% last year as the once red-hot US...

Continue Reading Lumber market must weather a `treacherous' 2023 after last year's staggering 66% price crash as a US housing slump deepens