REOC San Antonio
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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Building Materials Prices Continue to Climb

Inflation has taken a toll on consumers, and the overall cost of building materials continues to not just grow, but to do so at astonishing rates.

According to a recent report released by the National Association of Home Builders (Building Materials Prices Increase in July as Concrete Surges, 8.15.22) which summarizes its analysis of the latest government data in the form of the Producer Price Index (PPI), the price of building materials was up another 0.4%, not seasonally adjusted.

Prices have surged 35.7% since January 2020, with 80% of the increase occurring since January 2021.

As a prime example, the PPI for ready-mix concrete (RMC) gained 2.5% in July and has increased in 17 of the last 18 months. Price changes were broad based geographically but increased the most in the South where they gained 3.5%, not seasonally adjusted. Prices increased 2.9%, 1.6%, and 1.2% in the Midwest, West, and Northeast regions, respectively.

Read GlobeSt article: Building Materials Costs Growing at Astonishing Rates (GlobeSt.com, 8.17.22)

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