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Lumber prices are plummeting again after hitting news lows for the year as US housing market continues to cool off

2 days ago   |   By Business Insider

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Lumber prices traded lower again Friday amid continued signs of a housing-market cooldown.
Prices fell as much as 5%, to $474 per thousand board foot.
Lumber is extending losses that hit a new record low for the year earlier in the week.
Lumber plummeted Friday, extending losses that marked a new 2022 low just two days ago. Prices fell sharply , sinking as much as 5% to $475 per thousand board feet, as the housing market showed continued signs of cooling. The construction essential is now down nearly 70% from its May 2021 peak, having fallen 56% year-to-date. Home prices are...
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