This story was originally published in ProSales.
Input prices for residential construction goods input prices increased 0.2% in September, reversing course after declining each of the two previous months, the Produce Price Index report from the Bureau of Labor Statistics (BLS) shows. The index for inputs to residential construction has risen 5.2% in 2018 and is up around 10% from January 2017.
Despite the rising index, prices of several construction materials, including lumber, OSB, and gypsum, fell during the month of September. The BLS's monthly report continued to capture the decreases in prices paid for softwood lumber that began in mid-June. Softwood lumber prices were down 0.4% during September. Despite this trend, the average price paid for softwood lumber in 2018 remains the the highest on record, according to Random Lengths data. The overall price of softwood lumber is 5.4% higher on a year-over-year basis.
Gypsum prices fell 0.1% according to the index after increasing a combined 6.1% during July and August. The index for prices paid ofr OSB also decreased, falling 5.2% in September after declining in August as well. OSB prices are down 16.4% since July.
This story was originally published in ProSales.
