SAN ANGELO, Texas- Chop goes the price of lumber in the United States!

“Lumber prices are back down to nearly pre-pandemic lows,” said Wesley Doss with the Home Builders Association of San Angelo.

Supplying lumber for a new home would run a consumer around $18,000 but in the last 90 days, those prices have dropped about $6,000. Homes are still worth a pretty penny due to the prices of everything else. Add that along with interest rates and the price tag is through the roof.

“It’s a good thing lumber prices have dropped but inflated costs on appliances, wiring, plumbing fixtures, all that stuff have taken 15 to 20 to 30 percent price jumps over the last two years,” said Doss.

On top of that, building within all codes causes the receipt to continue to grow.

“Building codes, energy codes, storm water runoff codes, they all affect the price of a home so anytime you see regulations change, it almost automatically triggers a price increase,” said Doss.

Those rates can put pain in your pocket but they have helped the housing inventory here in San Angelo.

“As of the first of the year we had 120 homes on the market which when it comes the inventory is pretty low. Now we’ve got roughly 300 homes on the market so there is a little more to choose from and you don’t have to rush the decision,” said Doss.

The Home Builders Association tells us if you can avoid those interest rates and do a cash deal now is the time to make your home build dreams a reality.