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09-14-21 | News

Building Material Prices Increase Year-To-Date

Prices of Goods Have Risen Up To 19 Percent

Pictured in the graph, building material prices are broken down by how much these goods have increased year-to-date

According to the Bureau of Labor Statistics Producer Price Index (PPI), the prices of residential construction including and excluding energy has risen 19 percent and 12 percent, year-to-date.

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The index of final demand goods climbed 7.2 percent and for final demand goods less food and energy are up 5.3 percent since January 2021. Year-to-date price changes of all final demand services grew 3.9 percent and services in residential construction that doesn't include labor, climbed 19.3 percent.

While lumber prices declined, the decline has been offset by increased due to numerous other products including laminated veneer lumber, asphalt, and steel mill products to name a few however, over the course of the first portion of 2021, these products and many other increased more times than in 2020. For example, steel mill products increased 81.3 percent following a 11.1 percent increase in 2020.

https://eyeonhousing.org/2021/09/building-materials-prices-large-increases-year-to-date/

Filed Under: BUILDING, TRENDS, LUMBER
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