Many material prices have stabilized, which is welcome news for the industry. As per the latest Producer Price Index report, construction input prices fell 0.6% in December. In particular, concrete stands out as the exception, with its costs continuing to surge while prices of other materials have reached a stable or plateaued state. Read on to find out more!
Gypsum Building Materials
The PPI for gypsum building materials decreased by 0.3% in December and has remained unchanged since March 2023.
Steel Mill Products
In December, there was a 3.3% increase in prices for steel mill products, marking the first upturn since May. The annual average prices for steel mill products experienced a decline of 16.1% in 2023, following an increase of 8.7% in 2022 and the remarkable 90.3% surge seen in 2021.
Softwood Lumber
In December, the PPI for softwood lumber (seasonally adjusted) decreased by 2.3%, marking the third consecutive decline and the fourth out of the past five months.
Ready-Mix Concrete
The year-over-year price growth has slowed for the second consecutive month, dropping from 9.3% in November to 7.8% in December. Despite the drop in November and December, concrete prices remained the only one that continued to rise throughout the year.
BASE4 Is Here to Help!
We help developers, general contractors, and factories find better ways to build through innovative technology, forward-thinking design, and offsite manufacturing. Our primary focus is providing top-tier services to our clients to ensure seamless collaboration and unparalleled results.
Developers: Introducing Design PLUS by BASE4
We know we are in volatile times, where supply chain issues…
We at BASE4 believe in a DESIGN SERVICE mindset—bringing standardization and manufacturing principles to an outdated system. With the design service-centered approach, we continually optimize the build process, building faster, cheaper, and more efficiently.
Thank you,
Blair Hildahl
BASE4 Principal
608.304.5228
BlairH@base-4.com
