At this point in the building supply chain miseries, if it's any month, this must be a time for rising prices. That's what January brought, according to the National Association of Home Builders.
The organization reported that residential construction costs were up 3.6% in January 2022. That didn't include energy prices, which, as oil again nears $100 a barrel, promise additional pain.
The materials increase figure was not seasonally adjusted. Economics often make adjustments to account for regular variations, smoothing a data series for a better sense of trends. However, when changes rapidly move out of prior patterns, determining seasonal adjustments becomes difficult at best. Non-seasonally adjust figures can offer more insight for businesses in such situations.
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