Prices of Building Materials Decline
Prices received for four key building materials (prior to sales to consumers) — softwood lumber, OSB, gypsum products, and ready-mix concrete — all fell in October according to the latest Producer Price Index (PPI) release by the Bureau of Labor Statistics.
OSB prices declined 0.5 percent in October, ending a seven-month trend that had made the commodity the most expensive it had been in over three years. The small percentage decrease, while welcome, is paltry compared to the cumulative 25 percent price increase OSB had experienced since February. Prices received for ready-mix concrete, gypsum products, and softwood lumber declined by 0.1 percent, 0.5 percent, and 1.2 percent, respectively.
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