Lumber hoarders are now selling due to drop. That should further help supply.

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Jun 15, 2021
7:42:17am

SweetBabyG Starter

I'm also seeing price drops on Zillow on houses that have been sitting on Zillow for a while (they were over priced).

This message has been modified

Originally posted on Jun 15, 2021 at 7:42:17am

Message modified by SweetBabyG on Jun 15, 2021 at 7:45:01am

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SweetBabyG

New username: BikeGuy
Bio page: SweetBabyG
Joined: Jan 26, 2016
Last login: Dec 1, 2021
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Messages

Author

Time

Lumber prices dropped 41%, real estate cooling down?

BYUfan92

6/15/21 7:37am

Lumber hoarders are now selling due to drop. That should further help supply.

SweetBabyG

6/15/21 7:42am

This. Surprised how many Facebook ads are popping up trying to sell lumber

PKCoug

6/15/21 8:13am

Once inventory expands and interest rates increase, then it will get back to

idacoug

6/15/21 7:42am

I don't think we'll see much of an expanding inventory in desirable areas.

Shore10

6/15/21 8:02am

Please keep dropping, at least for a few another 4-6 weeks!!!!

TheLoneCougar

6/15/21 7:44am

I talked to the assistant super intendent of Flagship homes in Eagle Mtn.

RockyBalboa

6/15/21 7:44am

So they will complete the home before listing it? No option to buy and add

JohnnyC

6/15/21 7:54am

As of now that's my understanding.

RockyBalboa

6/15/21 7:55am

Interesting. I live in the Silver Lake area.

JohnnyC

6/15/21 8:02am

Hopefully they can find some chlorine for the pool!

RockyBalboa

6/15/21 8:14am

We only used it once since it open.

JohnnyC

6/15/21 8:16am

A lot of big homeowners have moved this way. It takes so much more time and

cougarfann888

6/15/21 7:57am

Yeah but the margins are a lot bigger when you can customize and tack that on

Iman23

6/15/21 8:01am

I talked to one of the huge builders. And they actually said the opposite

cougarfann888

6/15/21 8:10am

This. Much easier and usually better financially. If they don't like it they can

Druick

6/15/21 9:28am

Actually with increasing market prices margin is maximized by delaying

Bin01015

6/15/21 9:07am

My Dad and Bro are builders in Az and thats how they do it.

Druick

6/15/21 9:27am

In Daybreak most (if not all) builders have gone spec only.

Junior Deputy

6/15/21 8:04am

Real estate hasn't cooled in Austin area yet, but we're having a real growth boom

BeyondTheMark

6/15/21 7:45am

And I hope lumber keeps going down- I have a fence to put in!

BeyondTheMark

6/15/21 7:46am

Do vinyl!

BYU Grounds

6/15/21 5:38pm

Wouldn't match the rest of the fencing or anything else in the neighborhood. Pretty sure the association

BeyondTheMark

6/16/21 7:44am

What is your area? The areas I've followed in Utah at least haven't shown any

RdF3

6/15/21 7:49am

North Phoenix, about 10 minutes from the LDS temple

BYUfan92

6/15/21 8:12am

The 3 homes listed in my neighborhood in north Utah county haven’t sold and have

Chefcurry

6/15/21 7:51am

Listed above $1mm I’m sure?

RdF3

6/15/21 7:54am

Yes all 3. Just a few months ago every home listed was getting 10+ offers. So

Chefcurry

6/15/21 7:59am

I’ve seen several houses drop prices in St George, but then again they were

Nat Gas Man

6/15/21 8:08am

Only places like Highland and Alpine have cooled down. The rest of the county

O Gaucho

6/15/21 10:06am

I’m in highland so yea that makes sense

Chefcurry

6/15/21 10:38am

CB told me two weeks ago that Utah will never slow down nor will prices drop!

Iman23

6/15/21 8:03am

No it didn’t.

Junior Deputy

6/15/21 8:06am

Not sure, as mentioned, I live in AZ, so I'm curious about other markets....

BYUfan92

6/15/21 8:11am

I don't see the Utah County, South Salt Lake County markets cooling anytime ...

BYU Grounds

6/15/21 8:28am

Sower growth is very different than a significant correction

DC12

6/15/21 8:29am

I don't remember seeing anyone say this

Gente_Boa

6/15/21 9:27am

Not slowed down, just supply finally made up ground....

ABN RGR

6/15/21 8:12am

Considering that Biden just shut down the tariffs on EU products for five years

Nat Gas Man

6/15/21 9:11am

Please do. Not for any good or politically responsible reason. Purely selfish

PKCoug

6/15/21 10:32am

Lumber prices are still 3x what they usually are, and 50% above the all time

MyTwoCents

6/15/21 2:52pm

Now if we could just get some rain, life would make sense again.

MrClark

6/15/21 4:14pm

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