Lumber Prices still falling perfect time to work on Red Brick House (2023)



What's up good people mark holmes here.

And as always I want to thank you all for watching commenting subscribing and being part of joe boo's day job and I'm here at home depot because well, I'm always at home depot.

And you know, we've got some great news that some of the lumber prices have been going down.

And fortunately, for me, working on the red brick houses, I got delayed on buying a lot of the materials that I needed to get on there, because I had so many other projects and thankfully, um, some of the things that I need quite a bit of have actually come way down.

And here we have, um in the northern part of virginia.

Okay, osb is down to 24 25 a sheet.

Yeah, just six weeks ago, it was 47 unbelievable.

So for me, I need like 15 sheets of this.

So 15 times basically about 23 that adds up now let's check out the 1932nd that's, not what I need.

Um, although it's come down that 1932 has come down quite a bit let's see if we can find the underlayment here, um, I ended up spending look at this it's it's, not fantastic, but 43.28 that is far and away half literally half of what it was.

You know, this is now with the government going through and raising interest rates the futures for the lumber are about 590 is what they closed at yesterday.

So that's, great news because see I needed, you know, eight of these sheets so you're talking about eight sheets times, basically fifty dollars, um, right there, um, it's, four hundred dollars.

I just say, just save four hundred dollars because I ended up waiting, um for six weeks on the materials and see.

This is not a whole lot of materials that I'm truly buying.

Now price of wire is still real high.

Pvc is still real high.

But at least the lumber prices are coming down let's see if they've adjusted the price of two by fours in it, two by fours were 498, um last week, and they were as high as about 10, uh within the last couple of months so are you ready? Are you ready? Are you ready 487? They went down just a little bit not a lot.

They've not a lot.

They went down, uh, 12 cents, but 12 cents.

If you need a hundred of them, well, that's 12 so that's, a little bit better, they're, um, 487 for the prime I'm happy with that I'm.

I'd love it to be a little bit less, but that's.

A start let's see how the 16 footers are like I said for me, this is perfect timing, um down to 1796, which is still high.

You know, they used to be about 10 a piece for a 16 footer, but you can work with that you can work with it's.

Not ideal don't, get me wrong.

It's, not ideal, but I ended up ordering.

Um, I have a lot of two by fours that are left over from a project.

We had smithsonian, um, but I ended up ordering all of the uh, 16 foot two by sixes for the rafters.

The two by six is for the ceiling.

Um, I got all the floor joists in there, the two by tens, um all that material and stuff in there.

I think came out to about sixteen hundred dollars.

And that is basically framing up a 12 by 16 room at the red brick house, that's the sheathing for the floor, that's all the lumber to go ahead and frame up the walls and to go ahead and do the roof line and the sheath.

So you know, not great.

But I was originally looking at spending about three grand for that material.

The fact that it's down to 1600 for me is actually a great thing.

Let's, see, um, again, I purchased all that stuff in central virginia.

But this is, uh, northern virginia it's, slightly higher in northern virginia than it is in central virginia.

But you know, it's not far from it.

So two by tens, uh, 10, footers, 22, 94, not great.

But I think I think the two by two here's what's, interesting, the two by tens that I got yesterday in central virginia.

They were 12 footers.

I think there were only 17 so that's, actually a big price difference.

Right there, um, that's, two by twelves, 12, footers, 31.

I don't see the price here for those.

So depending on where you shop, the prices will vary just a little bit I'm, actually here because I need to get, um 1 by 12s.

Because I use those for my cnc machine blanks by the clear, which is about 35 dollars a piece.

They used to be about 24, which was great, because you get, um, I'll, either get three of the 24s, which I don't do too many of the 24 prints or I'll, get, um, four of the 16s out of it, which is the ideal size.

So that way you can maximize the material now here's, where it's going to be interesting is.

And this is going to get to be kind of expensive.

But this is what I want to do I'm going to, um at the red brick house.

We've gone through.

And we've taken off all of the plaster and stuff off the ceiling.

So we have those exposed antique pine beams.

Now, what I'm gonna do is I'm actually gonna get the one by fours.

I mean, one by six is like this and I'm gonna actually sheath the floor above the um beams with this.

And then I can go ahead and blow in insulation on top of it.

We're gonna run the ductwork up on it.

But to see the tongue and groove like this, which is similar to what's downstairs to see this above the floor, joists or excuse me, the ceiling, rafters will look beautiful.

I think this will look incredible up in there.

Um, the question will be is do we want to paint those before? We put them up there so that way, um, they're actually done or do we want to stain? I gotta actually ask my wife, her opinion on that.

But you'll see, I've got a 30 by 16 section in there to cover so it's going to take quite a bit of these.

But I think that look will look great in there.

So 12 footers, 14 55 a piece, maybe in bulk, maybe they'll sell those in bulk, which would be nice, um.

But I think you know, I'm only gonna get one chance to do this.

And I want this to be something special.

So when you're up there, instead of just seeing that eight foot ceiling, it's gonna raise the ceiling up in there, it's going to make it look that much better.

And hopefully we can get that done so I'm over here, maybe I'll get lucky and there's some relief here on the 1 by 12., nope, still 35.98.

At least they haven't gone up any at least they haven't gone up any.

But you need the clear stuff for doing the prints.

So I'm gonna grab grab me about three of these or so just to kind of replenish the supply make sure I get some ones that are definitely not cupped or warped.

And you have to check the uh, the look on them to see if they're going to cut the work.

So I need to put down the cell phone here while I'm doing it.


So I got me three of these I'm gonna go spend a hundred dollars real quick and get on back to the workshop, where we're gonna go ahead and do some more work and things.

Uh, there.

My work is never done, but I'm, looking forward to come monday.

Come monday, we'll, be back down, uh, down in the country there with the red brick house and we're gonna take off the the roof line and the back wall on the red brick house and tuesday all of our material be delivered so we're going to start getting that part done.

And that will be the the biggest thing we will have done to the red brick house to this point.

So hope you guys will tune in and check it out, maybe we'll live stream while we're ripping some of that stuff off.

And you guys can see it in real time.

Hope, you're having a great day and I'll see you soon.


How long until lumber prices return to normal? ›

Stuart Katz, CIO at wealth management firm Robertson Stephens, said the price of lumber could reach its pre-pandemic level by mid-2022.

Are lumber prices going to drop in 2023? ›

Simonson's lumber experts say they're anticipating lower overall numbers compared to mid-pandemic prices, but do not foresee 2023 prices dipping lower than what we are seeing at the end of 2022.

Is wood expensive right now 2023? ›

As of the end of April 2023, timber price fell back to the lower prices observed at the end of 2022, and stood at 351.8 U.S. dollars per thousand board feet.

Is there still a lumber shortage 2023? ›

Lumber prices are up 14% in 2023 after tanking last year, and a lack of supply could fuel another surge ahead of key homebuilding season.

Will construction costs come down in 2023? ›

In February 2023, most pundits believe the construction materials cost will continue to fluctuate. The consensus is that the cost of most materials will not return to pre-pandemic levels this year, though they should come down or at least not increase as dramatically as they have been.

What is the lumber prediction for 2023? ›

U.S. lumber consumption will fall somewhere between 4% and 5% in 2023, Jalbert predicts. He estimates that in 2022, lumber consumption fell by 1.6% as a result of "sudden weakening in new residential construction activity in the second half of the year and a major correction in do-it-yourself (DIY) lumber demand."

What is the latest on lumber price predictions? ›

Lumber (LB) Price Prediction (per board foot), Forecast for next months and years
DateOpening priceChange
September 2024Open: 392.084Change: 0.41 % ▲
October 2024Open: 389.540Change: 1.34 % ▲
November 2024Open: 395.935Change: 8.2 % ▲
December 2024Open: 436.802Change: 5.95 % ▲
62 more rows

How much is lumber in May 2023? ›

In the week ending May 12, 2023, the price of benchmark softwood lumber item Western Spruce-Pine-Fir 2×4 #2&Btr KD (RL) was again US$360 mfbm, which is flat from the previous week. This is up by +$9, or +2%, from one month ago when it was $351.

What is the future outlook for lumber? ›

Future price of the commodity is predicted at $867.46370403316 (152.17% ) after a year according to our prediction system. This means that if you invested 100$ now, your current investment may be worth $252.17 on 2024 July 04, Thursday.

What is the all time high for wood prices? ›

Historically, Lumber reached an all time high of 1711.20 in May of 2021. Lumber - data, forecasts, historical chart - was last updated on July of 2023.

What is the most expensive wood right now? ›

The most expensive wood in the world is African Blackwood (Dalbergia melanoxylon). A log can cost approximately $9,000; the price for processed timber in 2016 was listed as $13,000 per cubic square meter. It is commonly priced at a minimum of $100 per board foot.

Is the lumber shortage getting better? ›

As of right now, the lumber shortage continues to drag on. Whether by man-made events, such as the DIY lumber grab and now the Canadian Trucker Protest, or natural disasters, such as wildfires or COVID-19, lumber continues to feel the effects of several different supply chain disruptions.

How bad is the lumber shortage? ›

But there needs to be enough lumber to meet that demand. In 2021, home sales jumped from 5.64 million to 6.12 million, highlighting an extreme interest. This rapid buying rate has increased the harshness of the lumber shortage as people buy up newly built houses and make repairs on old ones.

What is the root cause of the lumber shortage? ›

The main reason for the high demand in lumber is the unprecedented demand for housing in the United States. People want to buy new homes, and new homes require lumber (and lots of it).

Have lumber prices dropped drastically? ›

Among rising prices in other industries for consumers, relief is on the way for home builders and anyone planning projects that require lumber. In May of 2021, lumber costs peaked with prices nearly four times higher than what was seen before the pandemic. Since then, some lumber products have seen a price drop of 70%.

Will lumber prices normalize? ›

Prices are now just below the $1,000 mark. But this is still a far cry from the previous average of $400 per thousand board feet. Analysts predict lumber prices will normalize toward the end of 2022 and return to the pre-pandemic average in 2023.

Why is lumber so expensive all of a sudden? ›

With factors like tariffs and extreme weather reducing supplies, the ongoing housing shortage in the U.S. keeps demand for lumber and other wood products high.

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