The Costs of Softwood Lumber Rises Nearly 30% Over Past Three Months
Prices of goods for residential construction rose 1.8% using a seasonally unadjusted basis.
This marked positive growth for three consecutive months.
This was according to Bureau of Labor Statistics’ Producer Price Index (PPI).
The 11.0% increase in softwood lumber prices led the rising of prices paid for building materials.
Since its decrease of almost 11% in April, softwood lumber prices rose 29.3%.
According to the National Association of Home Builders’ (NAHB) Eye on Housing blog, this is now approximately equal to the prices paid during the peak of the early-to-mid-2018 run up.