Momentum continued to build in the eastern spruce lumber market yesterday. Increased demand fueled better activity and sales. The tone in the market was aggressive. Certain situations presented opportunities for both buyers and sellers. It was up to the traders to find what fit where best and drill it home for the sale. Hopes were also high for a better month for new home construction. The point being that despite higher mortgage rates, the lack of housing and its evident need, there will be less competition from existing homes coming on the market that are locked in at much cheaper rates.
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