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 American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
LeBlanc says he plans to run in next election, under Trudeau's leadership
Cabinet minister Dominic LeBlanc says he plans to run in the next election as a candidate under Prime Minister Justin Trudeau's leadership, amid questions about his rumoured interest in succeeding his longtime friend for the top job.
Grandparent scam suspects had ties to Italian organized crime, Ontario police allege
A group of suspects that allegedly defrauded seniors across Ontario and other parts of Canada using a so-called emergency grandparent scam appear to have ties to 'Italian traditional organized crime,' according to an investigator involved in the OPP-led probe.
'Shopaholic' author Sophie Kinsella reveals brain cancer diagnosis
Sophie Kinsella, the best-selling author behind the 'Shopaholic' book series, has revealed that she is receiving treatment for brain cancer.
Motion to allow keffiyehs at Ontario legislature fails
A motion to reverse a ban on the keffiyeh within Queen’s Park failed to receive unanimous consent Thursday just moments after Ontario Premier Doug Ford reiterated his view that prohibiting the garment in the House is divisive.
Trend Line Anger, pessimism towards federal government reach six-year high: Nanos survey
Most Canadians in March reported feeling angry or pessimistic towards the federal government than at any point in the last six years, according to a survey by Nanos Research.
Taylor Swift's new album allegedly 'leaked' on social media and it's causing a frenzy
A Google Drive link allegedly containing 17 tracks that are purportedly from Swift's eagerly awaited "The Tortured Poets Department" album has been making the rounds on the internet in the past day and people are equal parts mad, sad and happy about it.
Calgary man charged with manslaughter in death of toddler
Calgary police say Winston Campbell, 45, has been charged in the death of a two-year-old girl in 2022.
Allman Brothers Band co-founder and legendary guitarist Dickey Betts dies at 80
Guitar legend Dickey Betts, who co-founded the Allman Brothers Band and wrote their biggest hit, 'Ramblin' Man,' has died. He was 80.