The dramatic rise in softwood lumber prices continues, with prices increasing nearly 15% in August according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. With the August increase, softwood lumber prices have increased nearly 50% since April, the largest four-month gain in the history of the unadjusted data series, according to the National Association of Home Builders (NAHB). More generally, prices paid for goods used in residential construction increased 0.9% in August on a non-seasonally adjusted basis. The culmination of the four-month increase in the PPI brings the index back to its pre-pandmic level, according to the NAHB's Eye on Housing blog.
