After hitting historic highs in the last couple years, lumber prices finally dipped last week to pre-pandemic levels. This could have a big impact on your new home - or home improvement, according to KMOX Home Improvement Show host Scott Mosby.
"Well, raw materials are roughly a third of the cost of a project, whatever it is, whether remodeling a custom home, or building a wood frame construction," he said.
And unless you're in need of some last-minute wood, Mosby says most projects are planned far enough in advance to see a benefit from futures prices falling.
Other costs should begin falling too, he added, as projected demand slows -- although that's because the price of financing for projects is going up.
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