Here’s some good news for anyone looking to get those DIY projects completed this summer: Lumber prices are on the way down.
It’s going to take some time to completely balance out- but experts say that the price drop has started.
They surged during the pandemic because of demand and a lack of supply, which was tied to the lack of sawmills across the U.S.
Now that things are getting back to normal in the U.S., so are the prices of lumber.
“A year ago when this started we had never seen anything like it,” said Chuck Smith, the owner of Smith Lumber and Hardware in Lakeville. He spoke with 13WHAM about the situation. “People decided to put money in their home, whether it was a deck or an addition,” he added. “That created demand. Since there wasn’t a lot of product being produced that created a shortage after that. That drove the price up because it was all based on demand.”
Experts from the industry say patience is key. Even now, as prices begin to drop, waiting could be a smart move- if it’s not an urgent project.
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