Residential Construction Input Prices Up 23% Year-Over-Year

According to recent economic data analyzed by the NAHB’s Eye on Housing, the prices paid for goods used in residential construction (excluding energy) rose 3.6% in May and have increased 16.5% over the past year, according to the Bureau of Labor Statistics’ latest Producer Price Index (PPI) report. Interestingly, Eye on Housing points out that building materials prices (inputs to residential construction less food and energy) have only declined two times since December, 2019.