After attending the University of Texas at Austin, Alan Erickson subsequently launched his own construction company. He has more than three decades of experience as a homebuilder. Because of his professional endeavors, Alan Erickson pays close attention to the price of lumber.

Lumber prices can undergo significant price fluctuations. Typically measured in board feet, a board foot is the equivalent of a board 12 inches by 12 inches by one inch. The price per 1,000 board feet was $426.10 on November 23, 2022, but was as high as $1,670.50 on May 3, 2021. Lumber prices change based on a number of factors, including the season and extreme weather events. Lumber is normally more expensive during cold and wet weather seasons, as it's more difficult for loggers to safely move logs to sawmills. A tighter supply, then, leads to higher prices.

Extreme weather events like hurricanes and wildfires can also drive lumber price increases. Both events, and especially wildfires, can have long-term negative affects on forest resources. Wildfires can destroy millions of acres of forest, leading to a shortage and making lumber harder to produce.

Lumber prices can also be impacted by trade disputes, increases or declines in home building, and market competition such as imports and exports.