Lumber prices let up giving hope to homebuyers

RINGGOLD, Georgia (WDEF)- “They’re not as good as they used to be. The golden egg is broken,” said Junior.

Lumber such as 2x4s were viewed almost as gold over the last several months but it’s changing.

“We were paying $1800 for a 1000 3 to 4 weeks ago. $1000 a 1000 now that’s down 60% 70%,” said Junior.

Builders have been unable to keep up with the demand for housing and the high cost of lumber is one of the reasons.

“Chattanooga doesn’t have any houses on the market; there are less than 300 new houses available right now,” said Junior.

However, The cost of Lumber is now down 25 percent or more from what it was at the end of May.

Junior said as the lumber shortage continues to decrease and the price of lumber continues to fall the more building houses will take place.

“Once the market hits a certain price everybody, every builder, every tried builder there ever as well jump back in and it will be a time to take off again. Just make sure I’m by your house during the dip,” said Junior.

Junior said as lumber prices rise and fall experience is needed to be successful in the building supply industry.

“I had money going in. We enjoyed it we’re gonna lose our rear end on the way down but we made some on the way up and in the end, all you can hope for is a happy average,” said Junior.

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