After rising to shockingly expensive levels this spring, lumber prices have fallen so far that they are starting to look cheap to some buyers. …July futures ended Tuesday at $599 per thousand board feet, down nearly two-thirds from the high of $1,711.20 hit in May. …More actively traded futures for September delivery settled at $649.90, just $10.90 above the pre-pandemic high. The decline is benefiting builders and do-it-yourselfers and helping to allay fears of runaway inflation. Still, buyers of new homes should not expect discounts. …Home builders say they expect to collect higher profit margins rather than drop asking prices. …Retail prices remain high relative to historical levels, but the cuts show the decline in futures and mill prices is trickling down to shoppers. [And] the lower prices are beginning to beckon buyers, especially developers, which shelved construction plans when prices reached unprecedented levels. [we respect the copyrights of the source publication – full access may require a subscription]