Bedford Corners NY

Lumber prices drop 10.3% | Bedford Corners Real Estate

Softwood lumber prices fell 10.3% in October—the largest drop since May 2011—according to the latest Producer Price Index (PPI) release by the Bureau of Labor Statistics. The producer price index for softwood lumber has fallen 21.2% since setting the cycle and all-time high in June (see below). Even after the decrease, however, the index currently sits just 4.7% lower than the prior-cycle high set in 2004.

The final demand price index for OSB has followed a path similar to that of softwood lumber over the last three months.

Since climbing 38.1% in the first seven months of 2018, OSB prices have fallen 16.6%. The price index for OSB is now 15.2% and 15.7% higher than it was to start 2018 and 2017, respectively.

Residential construction goods input prices increased 0.4% in October and have now risen 7.5% over the last twelve months. The index decreased only twice during that period, by 0.1% and 0.5% in December 2017 and August 2018, respectively. Year-to-date residential construction goods input price increases in 2018 (+5.6) continue to outpace the increase during the same period in 2017 (+2.9%).

Gypsum prices fell 1.6% in October, continuing what has been a relatively volatile year. The price index for gypsum products is 6.3% higher than it was to start 2018, but the year-to-date price increase masks large fluctuations within the year. Consecutive-month increases of 5.4% and 6.1% have been partially offset by two-month decreases of 3.3% and 1.8%.

The last several large increases in the gypsum price index has been foreseeable, as large wallboard producers sent out price increase announcements in the March-May and October-December periods. These announcements informed customers that wallboard prices would increase effective as of January or June/July, depending on the announcement date. Examples of such announcements may be found here and here.

Ready-mix concrete prices declined 0.5% in October. After a large price increase (relative to historical data) in early 2018, prices of ready-mix concrete dropped and have remained essentially unchanged since July.

read more…

http://eyeonhousing.org/2018/11/softwood-lumber-price-decline-largest-in-seven-years/

This post was last modified on %s = human-readable time difference 3:43 pm

Robert Paul

Robert is a realtor in Bedford NY. He has been successfully working with buyers and sellers for years. His local area of expertise includes Bedford, Pound Ridge, Armonk, Lewisboro, Chappaqua and Katonah. When you have a local real estate question please call 914-325-5758.

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