Rising Building Material & Freight Prices Push Construction Costs Higher
The NAHB’s Eye on Housing says the prices of goods used in residential construction increased 19.4%, year-over-year. Citing data from the Producer Price Index they point out that building materials (i.e., goods inputs to residential construction, less energy) prices have increased 5.4%, year-to-date, and are 36.3% higher than they were in May 2021.
Click here to read the full report a the NAHB’s Eye on Housing.
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