Lumber prices starting to come back down to earth
Lumber prices that took off during the height of the pandemic are finally starting to come down.
Although demand is still strong, an increase in production is allowing the supply to catch up, but not before some paid up to three times more to complete home renovation projects.
Randy Bourque just completed a steel-covered roof to cover part of his backyard deck
"I’ve been in construction for quite a while and when I estimated that it would cost, it was a good 50 per cent more than what I had anticipated," says Bourque of Yarmouth.
That means the price to keep Bourque and his family cool went from about $500 to just over $1,000.
During the height of the pandemic, supply stalled as prices skyrocketed. Those in the lumber business were actually worried prices would climb too high, resulting in a slow-down in construction.
Robin Wilber runs a lumberyard in Elmsdale, N.S. He says as lumber production is now able to ramp up, prices are now starting to come down.
"It’s coming down a lot, within the last month it’s dropped about 40 per cent," Wilber says.
That’s good news for Bourque, he has other projects in mind, but says he's going to hold off until the price of lumber comes down a bit more.
CTVNews.ca Top Stories
BREAKING Legendary hockey broadcaster Bob Cole dies at 90: CBC
Bob Cole, a welcome voice for Canadian hockey fans for a half-century, has died at the age of 90. Cole died Wednesday night in St. John's, N.L., surrounded by his family, his daughter, Megan Cole, told the CBC.
Harvey Weinstein's 2020 rape conviction overturned by N.Y. appeals court
New York's highest court on Thursday overturned Harvey Weinstein's 2020 rape conviction, reversing a landmark ruling of the #MeToo era in determining the trial judge improperly allowed women to testify about allegations against the ex-movie mogul that weren't part of the case.
2 teens charged in Halifax homicide: police
Two teenagers have been charged with second-degree murder in connection to an alleged homicide near the Halifax Shopping Centre earlier this week.
12-year-old hippo in Japan raised as a male discovered to be a female
When Gen-chan arrived at a zoo in Japan in 2017, no one questioned whether the then-five-year-old hippopotamus was a boy. Seven years later, zoo staff made a surprising discovery: Gen-chan, now 12, was female.
Honda to get up to $5B in govt help for EV battery, assembly plants
Honda is set to build an electric vehicle battery plant next to its Alliston, Ont., assembly plant, which it is retooling to produce fully electric vehicles, all part of a $15-billion project that is expected to include up to $5 billion in public money.
MPP Sarah Jama asked to leave Ontario legislature for wearing keffiyeh
MPP Sarah Jama was asked to leave the Legislative Assembly of Ontario by House Speaker Ted Arnott on Thursday for wearing a keffiyeh, a garment that is banned at Queen’s Park.
'Deep ignorance': Calls for Manitoba trustee to resign sparked after comments about Indigenous people and reconciliation
A rural Manitoba school trustee is facing calls to resign over comments he made about Indigenous people and residential schools earlier this week.
CTE: Researchers believe widespread brain injury may contribute to veteran suicide rate
Researchers are working to better understand if some Canadian military veterans may be suffering from Chronic Traumatic Encephalopathy, also known as CTE -- a disorder previously found in the brains of professional football and hockey players after their death.
1 arrested in northern Alberta during public shelter order
Residents of John D'Or Prairie, a community on the Little Red River Cree Nation in northern Alberta, were told to take shelter Thursday morning during a police operation.