Building Material Price Trends

National Association of Home Builders (NAHB) report swaying building material prices for gypsum products, transformers, and concrete after a historic increases in the past 12 months.

Since the start of 2022, the index has increased 38.9% for gypsum. A shortage of transformers and transformer parts have driven an increase of 40% over the past 12 months and 60.7% since the beginning of this year.  Ready-mix concrete prices index has climbed 8.1% year to date which is the largest YTD increase in the past three decades.  Although softwood lumber prices have declined by 32.7% YTD, they still remain 46.4% above pre-pandemic levels. After record high prices for steel mill products, prices have decreased in August by 5.7% following a 3.9% decline in July.  Truck transportation of freight is still 8.4% higher than the beginning of the year while prices for rail and ocean transportation have increased by 7.2% and 26.5% respectively.

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As a homebuilding company, it is imperative we monitor building material prices and lead times so that we are properly prepared to estimate our projects cost and completion dates.  We have standing relationships with reliable and reputable suppliers who deliver superior products and service.  Feel free to contact us to discuss your building or remodeling projects, we are happy to answer any questions you may have!