Eye On Housing
Author Archives
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Building Materials Prices Climbing at Record Year-To-Date Pace
Prices paid for goods used in residential construction ex-energy rose 0.2% in July after climbing 3.0% in June (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials (i.e., inputs to residential construction less food and energy) prices have declined just twice since December 2019 and have increased 19.4% over the… Read More ›
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Price of OSB Up More Than 500% Since January 2020
Framing lumber prices garnered more attention than any other building material over the past year as prices quadrupled between April 2020 and May 2021. But even as lumber prices decline, the spotlight on lumber continues to crowd out the story of meteoric price increases of another wood product integral to the integrity of a building’s structure—oriented strand board (OSB). The… Read More ›
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Why Builder Lumber Prices Remain Higher than Headlines Suggest
Lumber futures prices have decreased by 52 percent (on a front-month basis) over the past seven weeks as mill prices have fallen 48 percent over the same period.[1] In contrast, prices paid by builders since late May have declined by a fraction of that impact. The disconnect—which has always existed—is inherent to the lumber supply chain and choices that must… Read More ›
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Prices of Residential Construction Inputs Up 23% Year-Over-Year
Prices paid for goods used in residential construction ex-energy rose 3.6% in May (not seasonally adjusted) and have increased 16.5% over the past 12 months, according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials (i.e., inputs to residential construction less food and energy) prices have declined just twice since December 2019. The index… Read More ›
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Building Materials Prices Continue to Set Record Highs
Prices paid for goods used in residential construction ex-energy rose 1.7% in April (not seasonally adjusted) and have increased 12.4% over the past 12 months, according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials (i.e., inputs to residential construction less food and energy) prices have declined just twice since December 2019. The index… Read More ›
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Conventional and FHA Mortgages Finance 90% of New Home Sales in Q1 2021
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed the largest share of new home sales since 2018. The share of sales backed by conventional loans in the Q1 2021 increased 2.8 percentage points (quarter-over-quarter) to 71.6% and 2.1 percentage points since Q1 2020. FHA-backed sales made up 19.3%… Read More ›
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The Estate Tax and Real Estate
More than 6,400 taxpayers filed an estate tax return (Form 706) in 2019, according to recently released IRS data—40.1% of which were taxable after various deductions were taken into account. Form 706 disaggregates a decedent’s assets by type, which allows for analysis of the amount of real estate-related and small business assets on taxable returns. The IRS also publishes data… Read More ›
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Building Materials Prices Rise Across the Board in March
Prices paid for goods used in residential construction ex-energy rose 2.4% in March (not seasonally adjusted) and have increased 9.8% over the past 12 months, according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials (i.e., inputs to residential construction less food and energy) prices have declined just twice since December 2019. The index… Read More ›
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Record Steel Mill Product Price Increases Add to Lumber Woes, Push Building Materials Higher
Prices paid for goods used in residential construction ex-energy rose 1.4% in February (not seasonally adjusted) and have increased 7.7% over the past 12 months, according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials (i.e., inputs to residential construction less food and energy) prices have declined just twice since December 2019. The index… Read More ›
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Global Exports of U.S.-Grade Framing Lumber
The United States consumed roughly 47 billion board feet of softwood lumber in 2019, 30.8% of which came from 48 foreign countries. All softwood lumber imports are not created equally, however. The lumber used to frame a home in the United States must meet stringent standards set by the American Lumber Standard Committee and only 16 foreign countries produce lumber… Read More ›