Since January 2017, prices for every major input to construction has increased, prices for inputs to residential construction, softwood lumber, gypsum products, and OSB all increased in November.
According to The National Association of Home Builders, softwood lumber prices have increased in 10 out of 12 months in 2017, and predicts a rise in December as well as final duties on Canadian lumber go into effect. Their findings suggest that about half of the increase in prices paid for services was due to the price of loan services, up 3.1 percent.
The substantial increase in goods prices was primarily the result of a steep increase in gasoline prices, which jumped 15.8 percent. Prices paid for diesel fuel–among the largest costs for building materials distributors and their customers—increased by a more modest 1.8 percent. The change in prices paid for gasoline was +15.8 percent in November.
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