Housing Stats
In the US housing stats fell 7% month-over-month to an annualized rate of 1,236 in February 2018. Previously in January, an upwardly revised 10.1 percent jump occurred.
- Multi-family segment slumped 28% to 317 thousand
- Single-family increased 2.9% to 902 thousand.
- South stats decreased 7.3% to 633 thousand
- West stats decreased 12.9% to 339 thousand
- Northeast stats decreased 3.5% to 109 thousand
- Midwest stats increased 7.6% to 155 thousand
Year over year stats decreased 4% while permits gained 6.5%.
Trucking Challenges
The climate of moving freight is changing. Some factors affecting trucking the most include trucking capacity limits, new regulations, driver shortages and Electronic Logging Device. These factors are increasing costs and reducing carrier capacity. Fluctuations in carrier availability are creating shortages at many of our vendor’s facilities. The impact on the trucking industry will not be short lived and could last for most of 2018.
Increase in Material Cost
Due to rising costs of raw materials and increased freight, we have seen 1Q increases on Gypsum Products, Joint Treatment and Finishing Products, Insulation Products and Acoustical Tile Products. The biggest cost increases were announced in January, February, March and April within Metal Stud Products and Accessories.
