Building Material Price Growth Slows

After a period of significant increases, the growth in the prices of building materials has slowed according to June Producer Price data from the Bureau of Labor Statistics (BLS).

Year-over-year growth in gypsum prices slowed by 3.8 percentage points to 15.6%. Annual softwood lumber price growth decelerated by 8.7 percentage points to 8.0%. And Oriented Strand Board (OSB) prices grew by 37.0% year-over-year in June, still high, but 17.8 percentage points less than the year-over-year growth recorded in May.

The slowing of the growth of building material prices is good news for builders and bears watching for the rest of 2013.

For the economy as a whole, producer prices for finished goods rose by 0.8% on a seasonally adjusted month-over-month basis in June, the second consecutive month of growth.

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  1. We shouldn’t be alarmed by rising prices for the cost of materials. Any smart homeowner knows how important it is to maintain things around the house like the plumbing, roof, gutters and so on for drainage issues. Homeowners insurance is very limited in what it covers due to water damage, so your best bet at keeping costs down for unnecessary repair bills is to check the drainage around the home

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