Building Materials Prices Decline in November

Prices paid for goods used in residential construction declined 0.4% in November, while softwood lumber prices rose 3.5%, according to the latest Producer Price Index (PPI) released by the Bureau of Labor Statistics. Softwood lumber prices have risen 7.7% in the past three months and have reached its highest level since September 2018, the National Association of Home Builders’ (NAHB) Eye on Housing blog reports. Price growth for goods used in residential construction has risen 1.3% in 2019, the slowest year-to-date growth in four years.