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Solid demand, backlog of home orders favors builders in ’22 – New Jersey News Network

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Lumber futures prices soared to an all-time high $1,670.50 per thousand board feet in May, a twofold increase from a year earlier, reflecting strong demand for new construction and home remodeling, and pandemic-related problems limiting production. It then dropped to $456.20 in August, but has been surging since and is now back above $1,100, according to FactSet.