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SEE THE SAVINGS FOR A WHE.IL >> THIS IS OUR INDOOR MBLU YARD ALEXANDRA: CHRIS ROUTHE, VEIC PRESIDENT OF OPERATIONATS MIARLL LUMBER, WATCHED THE PRICE OF THEIR PRODUCT SKYROETCK DURING THE PANDEMIC. >> WE HAD A HIGH PRICE OF LUMBER. IT REACHED ITS PEAK, AND OF MAY-ISH. ALEXANDRA NOW HE SAYS PRICES ARE : DROPPING AGAIN. >> THEY’RE SPIKING DOWN RIGHT NOW. ALEXANDRA SO COULD THERE BE : RELIEF FOR HOMEBUILDERS AND BUYERS? ROUTHE SAYS NOT RIGHT AWAY, >> THERE’S A DELAYED REACTI, YOU KNOW. EVERYONE’S SEEN THE CHARTS THE HEADLINES AND ALL THAT RIGHT W.NO AND WHEN HOME BUILDERS COME TO MILLARD LUMBER, AND THEY’RE ASKING US EVERY DAY YOU KNOW WHE’’S OUR PRICING GONNA COME DOWN, IT’S LIKE, IT TAKES TIME FOR US TO BUY THIS CHEAP LUMBER TODAY AND GET IT HERE IN SIX TO EIGHT WEEKS. ALEXANDRA ROUTHE ALSO SAYS AS : PRICES DROP MANY WILL RE-ENTER , THE MARKET, MOVING FORWARD& WITH PROJECTS THAT WERE ON HOLD. THAT DEMAND COULD DRIVE PRICESD. CKBA UP A BIT. ALL WHILE THE SUPPLY CHAIN CONTINUES TO WORK ITSELF OUT. >> SO I DON’T THINK WE’LL EVER GET TO PRE PANDEMIC LEVELS BUT HONESTLY WE’RE PROBABLY A YEAR OR TWO AWAY BEFORE ANY SORT OF NORMALCY RURETNS. >> IT’S NO SECRET SUPP ISSLYUES HINDERED NEW BUILDS OVER THE LAST YEAR. REALTOR MARK HINRICHS SAYS THIS ONLY ADDED TO THE STRAIN RESULTING FROM LOW NUMBERS OF NEW HOMES BUILT DURING THE DECADE AFTER THE GATRE RECESSION. >> THIS SHORTAGE HAS BEEN IN THE MAKING FOR A LONG TIME. IT IS NOT JUST COVID. IT IS NOT JUST LUMBERRI PCES. IT’S THE FACT THAT WE DID NOT BUILD ENOUGH HOMES TO KEEP UP WITH THE DANEM ALEXANDRA WHILE THERE ARE SIGNS OF A SLIGHT COOL OFF RIGHT NOW — >> I AM SEEING MORE PRICE DROPS. TODA

With lumber prices dropping, what’s the impact on consumers and home sales?

Omaha experts weigh-in

Chris Routhe, vice president of operations at Millard Lumber in Omaha, Nebraska, has watched the price of their product skyrocket during the pandemic.”We had a high price of lumber, it reached its peak, end of May-ish,” Routhe said. Now, Routhe said prices are spiking downward. So could there be relief for home builders and buyers? Routhe says not right away.”There’s a delayed reaction, you know, everyone’s seen the charts, the headlines and all that right now. And when home builders come to Millard Lumber, and they’re asking us every day you know ‘when’s our pricing gonna come down?’ It’s like, it takes time for us to buy this cheap lumber today and get it here in six to eight weeks,” Routhe said. As prices drop, Routhe said many will reenter the market, moving forward with projects that were on hold.He believes that demand could drive prices back up a bit, all while the supply chain continues to work itself out.”So I don’t think we’ll ever get to pre-pandemic levels, but honestly we’re probably a year or two away before any sort of normalcy returns,” he said. It’s no secret supply issues hindered new builds over the last year.Realtor Mark Hinrichs said this only added to the strain resulting from low numbers of new homes built during the decade after the great recession.”This shortage has been in the making for a long time,” Hinrichs said, “It’s not just COVID, it’s not just lumber prices, it’s the fact that we did not build enough homes to keep up with the demand.” Hinrichs said there are small signs of a slight cool off right now. “I am seeing more price drops,” he said, “Today alone I saw that we had 43 listings dropped their price to entice buyers to potentially bring an offer.”However, Hinrichs says homes between $175,000 and $250,000 continue to sell fast; the average days on market in July: just two.Hinrichs said, it’s still a seller’s market. “So, is it slowing down a touch? Yes. Is it a balanced market? Not yet,” he said.

Chris Routhe, vice president of operations at Millard Lumber in Omaha, Nebraska, has watched the price of their product skyrocket during the pandemic.

“We had a high price of lumber, it reached its peak, end of May-ish,” Routhe said.

Now, Routhe said prices are spiking downward. So could there be relief for home builders and buyers?

Routhe says not right away.

“There’s a delayed reaction, you know, everyone’s seen the charts, the headlines and all that right now. And when home builders come to Millard Lumber, and they’re asking us every day you know ‘when’s our pricing gonna come down?’ It’s like, it takes time for us to buy this cheap lumber today and get it here in six to eight weeks,” Routhe said.

As prices drop, Routhe said many will reenter the market, moving forward with projects that were on hold.

He believes that demand could drive prices back up a bit, all while the supply chain continues to work itself out.

“So I don’t think we’ll ever get to pre-pandemic levels, but honestly we’re probably a year or two away before any sort of normalcy returns,” he said.

It’s no secret supply issues hindered new builds over the last year.

Realtor Mark Hinrichs said this only added to the strain resulting from low numbers of new homes built during the decade after the great recession.

“This shortage has been in the making for a long time,” Hinrichs said, “It’s not just COVID, it’s not just lumber prices, it’s the fact that we did not build enough homes to keep up with the demand.”

Hinrichs said there are small signs of a slight cool off right now.

“I am seeing more price drops,” he said, “Today alone I saw that we had 43 listings dropped their price to entice buyers to potentially bring an offer.”

However, Hinrichs says homes between $175,000 and $250,000 continue to sell fast; the average days on market in July: just two.

Hinrichs said, it’s still a seller’s market.

“So, is it slowing down a touch? Yes. Is it a balanced market? Not yet,” he said.