Lumber prices drop, but home prices remain high
In some cases, lumber prices increased 300-400% over the past several months - the news is prices are going down. Author: Hanna Conway Updated: 7:07 PM CDT July 14, 2021
MINNEAPOLIS Lumber prices are starting to drop after increasing by 300% in some cases.
Tom Siwek who is the owner of Siwek Lumber and Millwork in Northeast Minneapolis says prices have been dropping within the last month. A 12x4 stud peaked at $12, it s typically around $3 and now they re about $5 or $6, Siwek said.
Siwek says the surge in prices was primarily with construction lumber. What it hasn t really touched the same way is cedar, fencing, hardwood lumber, moldings, doors, those are all a little bit higher than normal, you know, 10 to 50 percent, Siwek said.