Available 7 Days/Week       MON - FRI  8am - 7pm       SAT - SUN  10am – 6pm
Call us (239) 466-0400
Apply Now

Lumber prices across the country begin to fall

NORTH FORT MYERS, Fla. – After hitting records, lumber prices across the country are beginning to fall. 

“I think everyone is pretty familiar that we have seen a good hike in lumber prices, we are thankfully starting to see those prices come down,” said Home Depot Store Manager Art Seyffert. “Not to where they started at, but they have seen a significant drop, so that is definetly encouraging.”

Tom Smythe, a finance professor at Florida Gulf Coast University, said the demand for lumber has stayed high, but said with the potential for Tropical Storm Elsa, or other storms, to hit Southwest Florida, the demand could go up even more. 

“There might be some small incremental price increases, but with any gouging laws, retailers are on notice to be very careful,” Smythe said. 

“Any price increases that you might see as a result of the impending storm, they are not going to last past the occurrence of the storm itself,” he added.

Seyffert said at his store located in North Fort Myers, even if demand increases, they would not increase the prices. 

“We would definitely not want to raise prices because of a storm, we wouldn’t do that. The only way we charge more is if we have to pay more for it,” Seyffert said. 

It’s uncertain how long it will take for lumber prices to return to normal, but Seyffert said he was confident prices would continue to drop. 

“I am very positive and I feel confident it will keep going down,” Seyffert said. “I don’t know that it is going to go down super quick, but even if it’s a couple dollars a week that adds up and hopefully we can get back to a pre COVID pricing.”

The post Lumber prices across the country begin to fall appeared first on NBC2 News.


#mortgagenaples, #naplesmortgage, #naplesnews, *Crawl, *Top News, Business, Home Depot, Local, lumber prices, News

mortgage lender, mortgage, naples mortgage, naples mortgage rates, napes mortgage company

*Assumes 2.799% APR, 20% down payment, and conforming 30-year fixed rate first mortgage on a single family, primary residence. The monthly payment you enter includes only principal and interest. Additional required amounts such as taxes, insurance, home owner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan based on the payment entered. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice.  **Posted APR is based on Mortgage Assumptions
Copyright © 2021 Fidelity Home Group supports Equal Housing Opportunity | All Right Reserved  | NMLS Identifier 1834853. Fidelity Home Group is not affiliated with the Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA). Not intended for legal or financial advice, consult your own professionals if such advice is sought. Accessibility Statement  | Consent to Receive Electronic Loan Documents  |  Cookies Policy   |  Disclosures  | Email and Mobile PolicyFair Lending Policy  |  Mortgage Assumptions  |  NMLS Consumer Access  |  Privacy Policy  |  Terms of Use