Covid-19 has changed our world in so many ways. It’s changed how we work, communicate, live, and travel. One of the changes that surprised us the most is how home sales have risen. The housing market is always a month or two behind but the data has been steadily above average since all this began. The price of lumber skyrocketed from May through September and now in October it’s starting to decline. Most of the building demand happens in summer and slows down as the weather gets colder.
In the last two weeks, there’s been a 45% drop in the price of lumber. This is a good thing for anyone wanting to start a project because the prices had previously been record high. With Covid-19 sending so many of us home a lot of people decided to start remodeling and buying new homes to better fit their needs. This caused a huge spike In lumber prices but now that summer is over, and we’re heading into fall the prices have started to drop. For those of us in Texas, this is a great opportunity. Our building season is still in swing, and we’ll be able to capitalize on falling lumber prices.