Housing market still seeing high demand despite sales drop: Home building executive
Tri Pointe Homes CEO Doug Bauer comments on the drop in new home sales across the nation.
Soaring aluminum prices are the latest worry for a construction industry that has been grappling with higher materials and labor costs as the U.S. economy emerges from the pandemic
The three-month offer price for aluminum traded at the London Metal Exchange has surged 47% this year to $2,907 per tonne. Prices are up 73% from their pre-pandemic levels.
"Aluminum is integral to residential construction and used to make everything from siding and gutters to insulation, nails, and HVAC equipment," said National Association of Home Builders CEO Jerry Howard. Aluminum is also used in roofing, fencing and many other products.