LITTLE ROCK, Ark — We have all felt the impact of higher costs on everyday things, but luckily, if you've been working on home projects, you could soon see some relief.
The sky-high lumber prices that we've all seen during the height of the pandemic have now begun to come down.
Habitat for Humanity is one organization that has already started to feel the impact of the lower costs.
Andrea Newton, Community Development Director at Habitat for Humanity, explained that with lumber prices going down, they have been able to build more houses for families in need.
"We never had the intention to stop building, we just had to build a little bit fewer homes than we would have," Newton said.
Newton also added that seeing the prices going down has been a huge relief.
"When I looked in May, we paid about $10 for a two-by-four. And I looked last week, we paid $4.57," she said.
Newton expects the next homes the organization builds will cost less than the new ones they just finished up.
"It's looking about $10,000 less on our framing package right now, which is that's huge," she said.
Jeff Hardage at Whit Davis Lumber Plus said the prices haven't been fluctuating as much, which has made it easier for him to decide how much lumber to buy.
"If I bomb and the market goes down, then you know, we're gonna lose money if the market goes up. We'll do okay. And that's how the lumber business works; the entire industry," Hardage said.
Hardage explained that the pandemic drastically changed the market and he doesn't expect costs to go back down to where they once were.
Though lumber prices have gone down, he said that other building materials are still high.
"I just bought three loads of insulation yesterday, and they were higher than the ones that I received in June," he said.
Hardage stated that the cost of roofing, drywall, and insulation are at the highest levels ever seen.
Newton has also seen other high costs when putting the finishing touches on houses.
"Plumbing, mechanical, HVAC, along with framing ended up on these last couple houses almost meeting our budget," she said.
Even though some things still cost more, she believes less money going toward the lumber will ultimately help them in the long run.
"It makes it a little bit easier to go out and ask for those donations to build those relationships," she said.