Lumber and Building Supplies Hit By Another Wave of Pricing Pressure
First it was inflation, then supply chain issues and then tariffs. Now the war in Iran is the latest external factor to hit material costs.
Whatever Happened to the Interest Rate Cut?
Lots of people thought the Fed would have begun rate cuts by now. Will they still do so in 2024? The euphoria around the start of this year about the Federal Reserve cutting the prime rate, resulting in a subsequent drop in mortgage costs jumpstarting the new construction and overall housing market, has receded into […]
Rates Remain the Big Question for the New Year
No single factor weighs heavier on the building and construction industry for 2024 than interest rates and how they impact the cost of mortgages. This past year may not have been the worst of times for the building trade but it was far from the best. New housing and commercial building construction was severely impacted […]
New Study Shows Construction Costs Doubled Inflation Rate in 2022
A new NAHB study shows costs per square foot for single-family construction rose at more than twice the inflation rate last year. The Consumer Price Index rose 8% in 2022 but the median square foot price to build a new single-family detached home jumped 18%, more than double that rate. This is according to a […]
Dodge Charts Lower Wood Material Prices for March
While the cost of many building materials increased in March Dodge Data & Analytics shows prices in key categories of wood declined dramatically for the month. Inflation continues to cause havoc for those in the building and construction trade with the cost of many raw materials up this year but new data on the prices […]
Inflation Drove Subcontractor Spending up $97 Billion Above Plan in 2022
New research shows that U.S. subcontractors spent $97 billion more on materials and labor last year than they had planned in 2022, impacting their profitability. It’s well-known that inflation has driven up the cost of just about everything but the figures from a new study of subcontractor spending puts a hard – and troubling – […]