Lumber prices have slumped as mortgage rates cool housing demand, but the commodity may bounce back up by 13% on tight supply, 2 experts say

The scorching rise in lumber prices last year hasn’t been able to continue in 2022, but this year still holds the potential to see prices rise back to the $1,000 mark as demand for the building material perks up within a tight supply market, experts tell Insider. There’s been a 23% drop in spot lumber…