Housing Starts Drop Over 20% as Interest and Recession Fears Rise

By late June, the price for finished southern yellow pine (SYP) lumber had tumbled 59% from its 2022 high mark of $1,136/MBF. Prices then subsequently bounced back, but weekly price movement has been range bound between ~$100 for the last 12 weeks, which is a departure from the wild volatility that was the norm over the last two years.