Multifamily Construction Input Costs Are Up. Way Up.

The National Apartment Association will be publishing an in-depth article and blog post on rising construction input costs, but in the meantime, they offered us some basic data comparing the Producer Price Index (not seasonally adjusted) in May 2018 vs. May 2017:

Source: Bureau of Labor Statistics

The three steepest increases were:

Lumber & Plywood – 13.9%
Copper & Brass Mill Shapes – 13.8%
Steel Mill Products – 10.5%

As we said, NAA will be digging into this in more detail soon so make sure you check their Research Page/Blog and the August issue of Units Magazine to see it.