We may clear revenue from the intersection useable on this page and participate in affiliate program . Learn More ›
The skyrocketing price of lumber has rule headlines in the residential grammatical construction man over the preceding couple of years . However , the latest Producer Price Index ( PPI ) report demonstrate that the price of softwood lumber fall 23 per centum in June . And while that may be good tidings for anyone project to make a new home or undertake a big home improvement project , prices for other popular construction materials are going up . In fact , Mary Leontyne Price of construction materials have surged nearly 42 per centum since January 2020 and are more than 12 percentage high than they were just a year ago , in June 2021 .
So , how much can you anticipate to pay for your next home project ? Here ’s a breakdown of what might eat into your budget .
Photo: istockphoto.com
Softwood Lumber
The price ofsoftwood lumberis down intimately 23 percent in the latestProducer Price Index , let in a 35 percent Leontyne Price free fall since March 2022 . This is welcome news for those look to build or add on to their live home . The bad news is that theNational Association of Home Builderssays it ’s still unclear if the decrease in monetary value has really reach rest home builders and remodelers .
Since April 2020 , the National Association of Home Builders account softwood timber monetary value lace enough to summate $ 14,345 to the price of an average new individual - household dwelling house and $ 5,511 to the market value of an average new multifamily home .
Ready-Mix Concrete
If you ’re planning a task that includesready - mix concrete , such as foundation body of work , setting fencing posts , or repairing a driveway , get ready to ante up more for the necessary materials .
You ’ll pay at least 11 percent more for quick - mixture concrete than you did just a year ago , and where you inhabit will likely determine how much you ’ll pay . Those living in the Western United States have envision a 23.2 percent price hike since January 2020 , while those in the Midwest have seen the small growth , at 10.6 percent .
Gypsum Products
Do you have a drywall undertaking expect in the wings ? The well news is that the growth in the price of gypsum products has slow down , rising just 0.1 percent in June after surging 7.1 percentage in May . The high-risk news is that the Mary Leontyne Price of gypsum intersection climb 23 percent in 2021 alone , and it may increase even more .
Ken Simonson , main economic expert for theAssociated General Contractors of America , tell in a financial statement to theEngineering News - Recordthat while baseball bat may have late decreased in price , some material — like gypsum — appear headed for further increases as a upshot of the frangibility of the supply chain and difficulties fulfill job openings .
Steel
When it comes to home structure , steel has certain advantages over traditional Sir Henry Joseph Wood . Steel is long - lasting , various , and resistant to natural catastrophe when used in residential construction , and it ’s also generally be efficient . However , the cost of this long-lived building product is ascend . While steel price have dismiss in late months and are 6.5 percentage below their all - sentence eminent in December 2021 , they are still at double their January 2021 spirit level .
Paint
Even simple home melioration project will cost you more these days . For case , you ’re go to pay quite a bit more to paint that elbow room or the exterior of your menage than you did just a year ago .
Although the Mary Leontyne Price of rouge was flat over the last calendar month in the June PPI , the cost of both interior and exterior paint have jumped 33.2 percent and 49.3 percent , respectively , since January 2021 .
American Painting Contractor , a magazine devoted to helping paint professionals , note that transport take and supply range problems are contributing to the cost increases .
Photo: istockphoto.com
Freight Costs
The rising cost of transporting goods is one factor that ’s bestow to the price of building materials . Since May 2020 , the indices for both local and long - distance motor carrying price are up 31 percent and 46.5 percent , respectively . The price of water transport is down 1.5 percent over the last calendar month , but it jump more than 21 percent in the 2 months prior to June 2021 . Deep ocean transport has mount 57.8 per centum since fountain 2020 .
TheNational Law Reviewcites three major reason for the increase in freightage cost : the Covid-19 pandemic , merchant marine and provision chain military issue , and the Russian encroachment of Ukraine . The daybook report that it ’s unclear when freight monetary value will devolve .
This Is the Year for a Kitchen Renovation
Photo: istockphoto.com
Whether you ’re sell or staying , everyone can get something out of a kitchen update . Learn why we consider this renovation the Most Valuable Project of 2025 and how to stay on budget .
