The owner of Jaeger Lumber & Supply Co. in New Jersey, Bryan Jaeger, provided insight into trends he has been noticing as the price of lumber has dropped.
during a live report that spec builders, who often take on projects that are speculative in nature, "have already started to pull back and they were pulling back in March when prices were peaking."
The lumber market has taken some big hits due to rising inflation, which sits at a new four-decade high, and a slowdown in the housing market. , according to new Commerce Department data released on Tuesday. That's below Refinitiv economists' forecast for a pace of 1.559 million units.
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