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Building Materials Prices See Historic 12-Month Increases

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Building Materials

Building Materials Prices See Historic 12-Month Increases

In the past year, building material prices have increased 14.3%

September 15, 2022
A man is holding a board of lumber with stacks of lumber behind him.
Photo: Stock.adobe.com

NAHB’s Eye on Housing reports that the prices of building materials rose by 14.3% over the past year, according to the latest Producer Price Index (PPI). Gypsum building materials prices increased by 19.9%, transformers and their parts have gone up 40.1%, and ready-mix concrete prices rose 8.1% year to date. Softwood lumber prices have fallen considerably, 32.7% this year, but current prices are still 46.4% higher than they were before the pandemic.

The prices of building materials rose 0.5% in August (not seasonally adjusted) even as softwood lumber prices decreased 5.2%, according to the latest Producer Price Index (PPI) report. Building materials prices have climbed 4.9% through the first eight months of 2022 and 14.3% over the past year. The PPI for goods inputs to residential construction, including energy, decreased 0.9% in August following a 1.5% decline in July. Between June and August, the prices of #2 diesel and unleaded gasoline decreased by 24.1% and 27.9%, respectively.

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