Building Material Prices Up 19% Year-Over-Year
The NAHB’s Eye on Housing says the prices of goods used in residential construction (excluding energy) rose 0.5% in April, 2022, according to data from the Bureau of Labor Statistics. This increase comes on the heals of upwardly revised increases of 1.9% and 2.4% in March and February, respectively. These numbers represent a 4.9% increase in building materials prices since the start of 2022. However, year-over-year, building materials prices are up 19.2% and have risen 35.6% since the start of the pandemic.