Prices received by producers of products fell 0.4% in July, nearly erasing June’s 0.5% increase, according to NAHB's Eye on Housing 's David Logan.
According to the latest Producer Price Index (PPI) release by the Bureau of Labor Statistics, the decline was a result of nearly identical drops in prices of services and goods of 0.3% and 0.4%, respectively (more weight is placed on services, in line with its share of the economy relative to goods).
Softwood lumber prices rose 0.4%, according to Logan.
Gypsum prices rose by 0.1% after sliding nearly 3% over the prior two months. The price of ready-mix concrete rose nearly a full percentage point and OSB prices continued trending upward, albeit at a moderate pace of 0.2%.