If you’ve walked through your local home improvement store lately, you may have noticed that lumber prices are skyrocketing this year. In fact, the wholesale price of lumber hit an all-time high in May – climbing a staggering 323% since the start of the coronavirus pandemic in 2020.
While there are signs that the market may be starting to cool as the U.S. economy reopens, wood still remains a hot commodity. So much so, that there are even reports of black market sellers and lumber yard heists!
How did all this craziness start? And more importantly, how might it affect you – or your homeowners insurance?
Keep reading to find out. www.erie.com/lumberprices