The continued slowdown in the US housing market has taken its toll on lumber prices, which fell to its lowest level since June 2020 on Monday. The essential building commodity tumbled 9% in three days to a low of $382.80 per thousand board feet, below the $400 level that has served as key resistance since 2013. Lumber rebounded slightly on Tuesday, up about 5% to $411. Prices are down 64% year-to-date. The weakness in lumber largely stems from this year’s deceleration seen in all facets of the housing market, as soaring mortgage rates helped slow down sales, rein in home price growth, and put a serious dent in home builder confidence. …The report showed that builders are adding more buying incentives to spark sales of new homes.