ORANGE COUNTY, Fla. — Anyone wanting to buy or build a new home continues to face a short supply of houses — and affordable building materials.  

But after more than a year of soaring lumber prices, there’s some hope for buyers and builders as lumber prices are finally falling. Those looking for financial relief, though, may not see that for months.

Aldo Martin says after decades building homes, this is the most volatile he’s seen the housing market.

“It’s a perfect storm of demand,” he said. “On a daily basis we are having conversations with vendors and suppliers that are coming for a price increase, so sometimes I see them in the parking lot and I cringe.”

But in the last week there has been a sign of hope: the price of lumber began falling.

Lumber prices made their largest dive ever, dropping by about 40% from an all-time high back in May.

“They are down from the peak, so that’s good news, that is something that is good to see,” Martin said.

But it could still be a while before he’ll be able to buy wood at a cheaper price.

Spectrum News 13 visited one of Martin’s main suppliers, American Builders Supply, at their Lake County lumber yard.

“We’ve seen a softening in the market — the futures are looking better from a price standpoint,” said Vice President of Sales Kris Williams.  “What we need is stability.”

Williams said it will take months to sell lumber already bought at the higher prices.

“Though the market is softening, we still have high-priced inventory on the ground that we have to move,” Williams said.

Martin is constantly checking prices online. 

“We’re reviewing our pricing model daily – something we used to do twice a year, once a quarter, it’s now a daily activity,” he said.

He said it will likely be six to nine months before he’ll be able to buy at the lower prices and pass that financial relief off to home buyers.