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After soaring lumber prices, some suppliers now see falling prices

“It's not a significant drop, it's fallen off 10-15 percent," said Overland Lumber manager Jeff Adams.

BOISE, Idaho — If you're getting ready to or have been trying to do some of those summer projects, like build a fence or a garden box, you've no doubt, been keeping an eye on the price of lumber. It was only a couple of months ago, when KTVB first reported a lumber shortage and as a result higher lumber prices, but that could be changing.

"I'm pretty surprised at the length of time it's taken," said Boise homeowner Chris Skidmore. 

He has been trying to get his fence built since the end of March. We first introduced you to the Boise man last April when he was notified that the company building his fence ran out of wood. 

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"Got a couple updates along the way, but still no fence," Skidmore said.

Two months later and he's now on the books. The fencing company is scheduled to build Skidmore's fence at the end of July. The news comes as Overland Lumber now says it's seeing lumber prices fall.

“It's not a significant drop, it's fallen off 10-15 percent," said Overland Lumber manager Jeff Adams.

He has watched the price of lumber go up on a weekly basis for a while now. 

“The bids I was doing a year ago, they've doubled," Adams said.

He hopes those lower prices trickle down, but he says it's anyone's guess.

“I'm not sure what it's going to do, it might drop and then everybody buys and it goes right back up," Adams said. 

While they're still seeing high prices, within the last week they have seen some prices come down. Adams told KTVB, as they rotate inventory those prices will reflect that, but only on certain items. 

The falling lumber prices stem from lumber futures. On Monday, lumber prices traded below $1,000 per thousand board feet for the first time since March.

 Those in the business hope that's an encouraging sign of what's to come.

Until then, Adam's advice for folks: continue watching the prices and buy as they fall. As for Skidmore, he recommends people plan ahead.

“If you’re trying to get a fence in these days, I’d definitely have the company out sooner rather than later,” Skidmore said.

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