Lumber prices were getting really high. Colliers Industrial Investment Expert Cody Payne: "It was about 300% higher than it was before the pandemic." After months of scarcity and high prices, additional sawmills are opening and there's more lumber available. With that, prices are coming down. Payne doesn't think this will make a big difference on prices in our housing market - because the demand for housing is still so strong. "I believe that the demand will stay high - especially here in Texas - because the economy out here continues to recover and get better and home building continues at an all-time high and multi-family dwellings continue to be built."
Lumber a Big Part of Rising Home Prices
Also, Mike Dishberger of Sancastle Homes says roofing materials, windows and copper prices are soaring. Payne says the increased supply and lower prices are good for the housing construction industry.
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Lumber prices finally going down