Quote:
Originally Posted by Babubhat
Lumber prices now down 66% since May. Let’s see if builders pass along that savings. It equals 13% of average house construction costs per today’s article
|
I will know when we have our design appointment the first week of August. We were rough quoted a build cost near $405K. Lumber spot price in May was ~$1600. Today lumber spot price was $521(down another 13% in one day).
Knowing we are building a block home lets assume the lumber costs are 6.5% of the house construction. Our lumber cost in May would have been $26,300. In todays market those costs would be reduced to $8,600. That would make for a very welcomed savings of $17,700.