May 2025 Whole House Commodity Report

By Don Magruder

The RoMac Building Supply Whole House Commodity Index (Index) for May 2025 increased .8 percent to $52,765, which is the fifth consecutive month of increases despite a significant drop in dimensional spruce and OSB sheathing, which are the best indicators of a slowing national housing market. For the first quarter of 2025, according to the Florida Realtors, closed home sales were down 1.9 percent versus last year, but the average sale price was up 3.5 percent.  This is the problem, with the continued cost increases in construction, there is little room for this market to depreciate to grow the market.

The tariff fears of just a month ago have given way to the overall strength of the housing market. Stubbornly high interest rates, insurance costs, HOA fees, and actual construction costs are weighing on the demand equation in Florida.  While some tariffs have moderated, the fact remains that costs will continue to escalate, and supply chains remain strained as suppliers are in the dark on future costs.  

The following are the significant price movers since last month.

• CDX pine plywood increased 1.1 percent with a mill closure, while OSB sheathing retreated 10.3 percent.  The low-price levels of OSB will probably soon prompt mills to curtail or temporarily close.

• Dimensional 2x4 spruce dropped 7.5 percent while 2x6 spruce fell 13.1 percent, and 2x4 studs added .5 percent.  This is despite tariff issues and indicates a move based on the overall weakness in the housing market. 

• 2x4 pine continues to be an upward mover, adding 5.8 percent on high treated wood demand from home centers selling DIY customers, deck builders, and remodelers.  2x6 pine dropped 5.7 percent while wide 2x12 pine increased 2.0 percent. 

• Roof truss pricing was up 4.3 percent on higher 2x4 pine pricing.

• Treated pine 2x4 was up 5.0 percent, and 4x4 treated posts increased 4.1 percent. 

• Building screws added 15.0 percent on increased tariffs.

• Exterior door pricing was up on average by 8.0 percent due to higher door slab costs.

• Garage Doors were up 6.0 percent, and operators increased 10.0 percent on higher tariffs.

As the months unfold in summer, more tariff related cost increases will be felt throughout the supply chain, and based on supply chain disruptions, there could be shortages of various pieces and parts to assemble a home in the hardware area.

Increased immigration enforcement could be the next headwind facing builders as the new administration aggressively seeks to deport undocumented immigrants. Labor shortage, as well as increased wages, could be in the offering as builders compete for limited labor availability. 

If it seems that the housing market and builders are being hit from all sides that would be correct.  Summer is not shaping up to be a relaxing one if you are in the construction related industries.

The RoMac Building Supply Whole House Commodity Index is based on wholesale costs of the base components to build a 2,200-square-foot wood frame home with a concrete stem wall in Central Florida. The Index includes foundation, metal, concrete, block, stucco, cement, wood framing, siding, sheathings, trusses, roofing, drywall, insulation, windows, doors, trim, garage doors, and most building hardware. It does not include décor, electrical, plumbing, mechanical, landscaping, or labor. Because the Index uses current wholesale costs, this should be a strong indicator of the direction of building prices for the next 30-45 days.

Don Magruder is the Chief Executive Officer of RoMac Building Supply in Central Florida.

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