ARBOR VITAE, WI (WSAU-WXPR) – Lumber prices saw their biggest drop ever a couple of weeks ago. That comes after a steep run-over over the past few months.
That’s good news for anyone looking to build a home.
But even with the drop, the cost of lumber is still steep. Shane Schwingle is the retail general manager for Pukall Lumber in Arbor Vitae. “Lumber prices are extremely high. Did they drop, very, very little.”
He says prices dropped about $200 for a thousand board feet.
It’s the result of an increase in supply and the resolution of some transportation issues. But Schwingle says, even though lumber futures are dropping, it’ll take some time for lower prices to be reflected in lumberyards. “It kind of takes time. You know, you see oil prices go down, that doesn’t mean gas instantly drops. It’s going to take a little bit before we can start lowering our prices.”
Schwingle expects prices to continue dropping to about $800 to $900 per thousand board feet.
He says that’s still higher than pre-COVID prices, but it’s unlikely the cost of lumber will return to those levels.
