Much like last year, the price and availability of building materials topped the list of problems builders face. According to special questions on the December 2021 survey for the NAHB/Wells Fargo Housing Market Index, building material prices were a significant issue for 96% of builders in 2021, and 91% of the builders expect it to continue being a problem in… Read More ›
The price data for softwood lumber for framing is generally quoted using the Random Lengths Framing Lumber Composite Price (FLCP) or lumber futures price — neither of which adjusts for inflation. Although the historical price differences are smaller in real terms than nominal, the inflation-adjusted price of lumber set records in both 2020 and 2021.
Despite the omicron surge, the U.S. job market experienced solid gains. Total nonfarm payroll employment increased by 467,000 in January, and the unemployment rate ticked up slightly to 4.0%. Additionally, job gains in December and November were much stronger than initially estimated, according to revisions of the establishment survey data. Construction industry employment (both residential and non-residential) totaled 7.5 million,… Read More ›
