Construction in Newfoundland and Labrador continues to boom despite the price of lumber. The Canadian Home Builders' Associations says supply and demand are driving the skyrocketing prices of lumber, although it also says the industry is still booming. Canadian Home Builders' Association Newfoundland and Labrador executive officer Alexis Foster lumber prices aren't expected to fall this year, and possibly into 2022. Canadian Home Builders' Association Newfoundland and Labrador president Grant Cooper says despite the increase in lumber prices, people are still inquiring about getting work done on their homes. For those who are willing to wait, Foster said the CHBA is predicting lumber prices will not drop this year, and maybe not even next year, either.

Source: CBC News May 05, 2021 21:56 UTC