The demand for construction materials has plummeted, with sales dropping by a third in both value and volume in May. The decline is worsening month by month, indicating a worrisome trend. Renovations are on the decline, and several new construction projects are being initiated. With the falling prices on the construction market, there has never been a better time to start building our new home or renovating the current one.
In the first five months, building materials traders experienced a sharp decline in turnover. The market declined by 24 percent compared to the previous year. Distributors reported a 32 percent decrease in sales and a 35 percent decrease in turnover in May. This growing backlog compared to the previous year is cause for alarm. However, there are no signs yet of the trend reversing, writes Világgazdaság.
Construction at all-time low
Attila Juhász, President of Új Ház Építőanyag Nagykereskedelmi Plc., expressed