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Updated over 3 years ago on . Most recent reply

User Stats

294
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245
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Dan Powers
  • Real Estate Agent
  • Philadelphia, PA
245
Votes |
294
Posts

Lumber Prices hopefully on the Horizon of Decreasing?

Dan Powers
  • Real Estate Agent
  • Philadelphia, PA
Posted

For anyone that has been living under a rock recently, lumber prices have tripled since the beginning of last year, peaking at a little over $1700 per 1000 board feet. That being said in recent weeks lumber has seen a slight decrease, with experts expecting to see a continuous decline in prices. Here are some articles supporting that theory.

https://www.bloomberg.com/news...

https://www.barrons.com/articl...

https://markets.businessinside...

This being said, with the decrease of lumber prices in the future, will we see an increase in new construction across the city and by who. Obviously, I expect the big players to continue to build because they can afford to, I'm more curious about what percentages will entice regular rehabbers to jump back into the game. Would love to hear everyone's thoughts on when they will jump back into the new construction market. 

Most Popular Reply

User Stats

294
Posts
245
Votes
Dan Powers
  • Real Estate Agent
  • Philadelphia, PA
245
Votes |
294
Posts
Dan Powers
  • Real Estate Agent
  • Philadelphia, PA
Replied

@Russell Brazil Thank god they're finally on the decline. I pulled this from Nasdaq, and it's shocking to see such a decline in a month's period. Nonetheless, very happy to see to as my investors have been getting killed recently on their rehab budgets. Hopefully, this will influence people to start bigger rehabs again. 

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