Lumber Prices See Largest Monthly Price Drop in History

After months of soaring highs, the price of lumber in the U.S. is finally coming down.

Lumber prices plummeted more than 40 percent in June to $710 per thousand board feet. According to CNBC, this marks the largest monthly drop in lumber prices on record. The price of wood has fallen drastically since hitting all-time highs in early May, and experts predict that this downward trend will continue throughout the back half of the year.

“I would not be surprised at all if we see the price continue to trail lower than $600 or below toward the year-end,” Mace McCain, president and managing director...