An NAHB analysis of lumber price trends in 2020 and 2021 adjusting for inflation indicates that while price differences are smaller in real terms than nominal, even the inflation-adjusted price of lumber set records in both years. According to the association, the average price of framing lumber, when adjusted for inflation, was 17% above its 25-year average. Additionally, over the 24-month span in 2020 and 2021, real—inflation-adjusted—prices of lumber were 37% above the historical average.
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