January sees a 1.2% increase in US homebuilding material costs

Posted on February 17, 2025   |  

Prices for inputs used in new residential construction, excluding labor, capital investment, and imports, rose by 1.2% in January.

The New Residential Construction Price Index recorded a 1.1% annual increase, with goods rising by 2.1% and services falling by 0.3%.

Service costs for residential construction increased by 0.5% from December, despite being 0.3% lower than the previous year.

Ready-mix concrete prices grew by 4.1% compared to the same period last year.

Prices for wood office furniture and store fixtures saw a 4.7% increase from the previous year.

General millwork prices rose by 2.4%, paving mixtures and blocks surged by 8.6%, and sheet metal products recorded a 0.4% increase.