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Don’t Expect Soaring Lumber Prices to Drop Anytime Soon, Builders Association Says



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Lumber prices in British Columbia and the rest of Canada are surging and industry experts warn that it could be years before the numbers go down to pre-pandemic levels.

According to the latest data, prices have gone up threefold when compared to previous annual averages.

“Unfortunately, we do expect the lumber prices to stay quite elevated for quite a period of time,” said Kevin Lee, CEO of the Canadian Home Builders’ Association.

Lumber mills have been playing catch up after many went offline during the onset of the pandemic, Lee said. They’re currently operating near 100 per cent capacity, he added.

But the same can’t be said for mills in the U.S., which have been slower to get back on their feet.

That means Canadian producers are trying to meet demand from both sides of the border.

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