Lumber prices fall toward multi-year lows as pending home sales slump and industry searches for supply balance

• Lumber prices continued their downward trend on Thursday, falling 4% toward multi-year lows.
• The decline in lumber came amid an unexpected decline in March pending home sales, and as the industry seeks a balance in supply and demand.
• "The broad industry is still challenged with getting supply in check to meet the new demand curve," Sherwood Lumber told Insider.

Lumber prices fell toward multi-year lows on Thursday, falling 4% to $382 per thousand board feet as the industry continues to seek a balance in supply and demand.