Rising Home Repair Costs Pressure US Households
Home repair costs surge as energy and interest rates climb, straining US households.
In brief
Home repair costs surge as energy and interest rates climb, straining US households. US home repair costs rose fastest since October 2024, with companies raising prices to cover material and shipping costs. Originally reported by Pymnts.
Rising Home Repair Costs
Home repair costs climbed fastest since October 2024 as energy prices and interest rates rose.
Companies Raising Prices
Paint, appliance and plumbing companies increased prices to cover higher materials and shipping costs.
Industry Impact
Wall-and-ceiling manufacturer Armstrong World Industries raised prices after freight costs jumped 20%.
Consumer Response
25.5% of consumers say now is a good time for major household purchases, up from 18.3% in August.
The headline
US home repair costs rose fastest since October 2024, with companies raising prices to cover material and shipping costs.
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