Prices for most materials used in residential construction declined in June.
The latest Producer Price Index shows that the prices paid for materials used in residential construction decreased by just over 1% in June. Surprisingly, breaking a four-month trend of increases.
The decrease is only the fifth time in the past two years where home prices fell, according to the National Association of Homebuilders.
The only building material to see an increase was concrete. In fact, prices for concrete have grown by more than 1% in two of the past three months.