US lumber prices start to fall

NORTH FORT MYERS, Fla. (WBBH) – Lumber prices are dropping after months of exasperation.

Experts say the supply chain is starting to return to normal.

“I don’t know where they started, but they’ve seen a significant drop,” said Art Seyffert, Home Depot store manager.

Nationally, customers are getting much more for their money.

“We are seeing an increase in supply in the system to meet demand,” said Tom Smythe, professor of finance at Florida Gulf Coast University. “In the case of plywood… that number has probably dropped back into the $ 40 to $ 50 range. “

But not all stores are seeing such a big drop yet.

At his Home Depot in North Fort Myers, Seyffert said prices were $ 4 to $ 5 cheaper per board.

Still, in southwest Florida, demand remains strong, particularly with Hurricane Elsa as a potential threat in the coming days.

“I saw other handymen come and get planks to protect their homes,” Seyffert said.

“We certainly wouldn’t want to raise prices because of a storm, we wouldn’t. The only way to charge more is if we have to pay more for it.

Seyffert said he expects prices to continue to fall.

“I am convinced that it will continue to decline,” he said. “I don’t know if it’s going to go down very quickly, but even if it’s a few dollars a week that add up.”

Copyright 2021 WBBH via CNN Newsource. All rights reserved.

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