Rising home construction rates boost lumber prices
from Hardware Retailing
Builders are constructing more houses now than at any time before last decade’s foreclosure crisis, and the increased construction activity is resulting in higher lumber prices, reports The Wall Street Journal. Since last June, lumber futures have risen more than 33 percent, according to the report. Recently, lumber futures for March delivery closed at $422.30 per 1,000 board feet and wood for May was priced at $423.
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