Navigating the Fall: How to Tackle the Drop in Lumber Prices
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- Topic: Lumber Prices Are Crashing – What Does It Mean for Contractors and Builders?
- Lumber Price Drop:
- According to the Wall Street Journal, lumber prices have fallen to their lowest level in over two years.
- Prices are now at $410 per thousand board feet, which is well below $500, though still higher than prices seen in 2017 or 2018.
- Market Impact:
- Are you noticing this price change in your local market?
- Share your experiences in the comments – contractors, let us know what lumber prices you are seeing in your area.
- Rising Interest Rates:
- Interest rates are affecting the housing market, with high home prices but low sales.
- With fewer people buying homes, there's potential opportunity for remodels and additions, or even new construction.
- Opportunity for Builders:
- Could now be a time for builders to construct new homes at lower costs and sell them for less than high-priced resale homes?
- Should you consider building now, or is it better to wait for the next market shift?
- What Does This Mean for Bids & Quotes:
- How are lumber prices affecting your bids, quotes, and lumber packages?
- Is this a good time to jump into new projects or to wait for the next price bump?
- Final Thoughts:
- Is this the beginning of a longer-term lumber price crash, or just a temporary dip?
