National Association of Home Builders analysis of government data has found that new single-family and multifamily residential construction used roughly $94.93 billion in building products in 2019. Although the vast majority of the $94.93 billion was produced domestically, supporting jobs in the U.S. manufacturing sector, about 6.4% ($6.12 billion) was imported from other countries. It may seem a relatively small number, but the 6.4% of the products that are imported can be important in plugging gaps in supply and preventing spikes in input prices, NAHB reports.
Cement and concrete products used in residential construction topped the list with $11.71 billion used in 2019. Architectural and structural metals were in a close second place at $11.17 billion. Asphalt and roofing products made of petroleum and coal registered at $7.73 billion and plastics products used in construction (piping and plumbing fixtures, polystyrene foam insulation, etc.) came in at $6.95 billion.
Wood products—everything from plywood and EWP, sawn lumber, and treated wood—accounted for just more than $10 billion, NAHB reports, adding a reminder that the figures from 2019 do not include this year’s major increase in lumber prices, which NAHB said now accounts for a $16,000 increase in the price of a new home.
To read more, visit NAHB’s Eye on Housing blog.