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BIA & INDUSTRY NEWS

Building Materials Prices Up More Than 19% Year Over Year

5/16/2022

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Source NAHB
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According to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics, the prices of goods used in residential construction ex-energy (not seasonally adjusted) climbed 0.5% in April, following upwardly revised increases of 1.9% and 2.4% in March and February, respectively.
This adds up to an 4.9% increase in building materials prices since the start of 2022. Building materials prices are up 19.2% year over year and have risen 35.6% since the start of the pandemic.
Specific material increases include:
  • Softwood lumber: The PPI for softwood lumber (seasonally adjusted) declined 15.6% in April, following a downwardly revised 5.4% increase in March and a 2.5% gain in February. As a result, the index is down 8.9% over the first four months of 2022. Since reaching its most recent trough in September 2021, prices have risen 60.4%.
  • Steel products: Steel mill products prices (not seasonally adjusted) climbed 2.4% in April — the first monthly increase since December 2021. Nonetheless, the first four months of 2022 have been positive for the cost of derivative steel products after increasing 128% in 2021.
  • Ready-mix concrete: The PPI for ready-mix concrete (RMC) prices rose 1.3% (seasonally adjusted) in April after a small decline in March. The index has climbed 8.9% year over year and is 12.6% higher than the January 2021 reading.
  • Gypsum products: The PPI for gypsum products (seasonally adjusted) was flat in April. The prices of gypsum products are up 17.8% year over year and have increased 23.5% since January 2021.
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Lumber Executive Predicts Elevated Prices to Last for "Foreseeable Future"

5/21/2021

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In the slideshow below, there are two separate quotes for lumber: One from April 2021, one from May 2020. Notice the difference in the cost of a standard 2x4 stud. This is a fraction of the total lumber package for a new home in North Carolina with a sales price in the $300s. Lumber production must increase.
As we all know, Lumber Prices have been on the rise for a while now, with no decline in price in sight. This not only affects the building industry directly, but, it also affects home buyers and homeowners looking to remodel. 
A lumber industry veteran told CNBC on Thursday he expects the hot lumber market to persist, at least for a few more months, keeping both prices and volatility elevated.


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Critical Home Repairs Delayed Because of Sky-High Lumber Prices

3/26/2021

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NAHB - As lumber prices remain sky high, home-building activities continue to suffer across all aspects of the industry — including remodeling projects. Home owners have had an opportunity while sheltering in place to examine their homes and identify key areas in need of repair. But many have been apprehensive to tackle these projects because of the uncertain costs and availability of project materials.


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HONOR ROLL MEMBERS (as of 4.12.22)

ASSOCIATES: 1st Choice Insulation | A-1 Interior Trim, LLC | Applied Waterproofing, LLC | Bardenwerper, Talbott & Roberts, PLLC
|
Berkshire Hathaway Home Services, Parks & Weisberg Realtors | Builders First Source | Caliber Home Loans
| Complete Transfer, LLC | Corrigan Electric Co. | Cunningham Door & Window | Derby City Concrete Construction | Door Store and Windows | ECS Southeast, LLP | Fireplace Distributors, Inc.| Jones Landscape + Design | Lincoln Insurance Agency, Inc. | Mattingly Ford Title Services | Quality One Steel Design Inc. | River City Foundation, LLC |
 Ruoff Mortgage | Sam Kinnaird's Flooring Outlet, Inc. | Screens of Kentucky, LLC | Wilson & Muir Bank & Trust Company 

BUILDERS: Clifford (Josh) Thieneman, Clifford Thieneman Co., LLC. | Dan Smith, Stonelake Homes, LLC |
Perry Lyons, P.L. Architectural Builders ​| Tom Waller, Tom Waller Signature Homes | Rich Heareth, Perfection Builders
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Call us at 502.429.6000
  • Home
  • Member Services
    • Pay My Bill
    • Find a BIA Member
    • Why Join BIA as an Associate Member?
    • Why Join BIA as a Registered Builder or Remodeler?
    • Become A Member
    • Sponsorships
    • BIPAC
    • Member to Member Emails
    • BICF
    • Publications
    • BIA Staff and Board of Directors
  • Registered Builder & Remodeler Program
    • Why Choose a Registered Builder or Remodeler?
    • Checklist for Hiring Registered Builders or Remodelers
    • Finding the Right Builder or Remodeler
    • Why Join BIA as a Registered Builder or Remodeler?
    • Find a Registered Builder
    • Find a Registered Remodeler
    • Find an Industry Professional
    • Greater Louisville Relocation Guide
    • Request for Conciliation
  • Events
    • Member Events
    • Public Events >
      • Homearama 2022
      • Tour of Remodeled Homes
    • BIA Calendar
    • Event Protocols
  • EDUCATION
    • BIA Calendar
    • Class Descriptions and Rules
    • Education FAQs
  • News
    • BIA Members In The News
    • BIA & Industry News
    • BIA Social Media
  • Job Board
  • Building Institute of Greater Louisville