Can You Wait to Replace Your Roof? Supply Chain Woes May Provide Your Answer
If you haven’t already noticed, the prices of nearly everything in Maryland, Virginia, and just about everywhere are on the rise. Roofing is no exception. In fact, roof shingles, plywood (often necessary in roof replacement), siding, and many other building materials have seen a dramatic increase in the past year. Here are just a few examples…
- Shingles, including labor, miscellaneous materials, nails and flashings have gone up from January – December 2021 10-12 %
- Cedar and synthetics roofing has gone up 18-20%
- Flat roofing has also increased 18-20%
In fact, just about all aspects of getting a roofing job done, including insurance, gas, and overhead expenses, are up.
When you search for roofers near me for your roof replacement, you may find many roofing companies like ours – and we are all in the same boat!
As a roofing contractor it can be frustrating to see these increases, but for a homeowner it can mean the difference between keeping your home up-to-date and safe from the elements…or not.
Why Are Roof Prices Increasing?
2021 will not be the end of these increases. Manufacturers have said that fiberglass asphalt shingles will increase 6-8%, synthetic roofing 12% and cedar 8-10% by February 2022. But why? Let’s take a look.
The majority of shingles on homes are made from asphalt. Asphalt is made primarily of oil. And as we all know by visiting the gas station, crude oil prices are on the rise. So naturally, the cost for fiberglass asphalt shingles must rise as well.
It is not just asphalt costs that are going up – lumber is too. However, lumber prices were already on a steady increase due to the housing bust more than 10 years ago. During the 2008-2009 recession, many lumber yards and mills were forced to close. This put a strain on supply when things began to bounce back. Fast forward to 2020, and BAM! COVID-19 sweeps the globe and once again puts the squeeze on supplies.
Imported materials have also become scarce. According to global supply chain consulting firm GEP, as much as 30% of the building materials in the U.S. are imported from China. With the pandemic hitting them first and hardest, manufacturing and exporting slowed significantly. This supply chain disruption has reverberated around the world.
While Prices Rise, Shingle Colors Decline
Roofing shingle manufacturers – and roofers like us – love to offer customers a wide range of color choices. When materials are in short supply, however, manufacturers must decide which colors they will produce. Look around your neighborhood and you will likely see just a handful of shingle colors. That’s because they are the most popular colors among both builders and homeowners. So while offering say 10 different colors is nice, the top 3 or 4 are the ones most likely to be available. Manufacturers simply cannot afford to have shingles with low demand sitting in their warehouses.
Can You Afford to Wait for a New Roof?
Shingle manufacturers, lumber yards, and other building suppliers have fired the warning shots already – “More price increases are coming!” We aren’t talking 1-2% – we are hunkering down for ANOTHER increases of 6-8%. On a typical roofing project, the increase for materials will jump a minimum of several hundred dollars. And of course, the bigger the roof, the more the jump.
If you have delayed replacing your roof, or if you were considering roof replacement on your home or commercial building, waiting will cost you. Not only that, your shingle color of choice might not be around. That is today’s scenario – we have yet to see how things will further be impacted as the pandemic rages on. Your best bet is to contact a roofing contractor ASAP.
Why Choose S&K to Replace Your Roof?
S&K Roofing, Siding and Windows has been a quality roofing contractor for over 40 years. We have weathered several recessions and continue to be strong despite the ongoing pandemic. In short, we are here for the long haul. We offer a no-pressure, no-hassle approach to home improvement. Our motto is Worry Free. Guaranteed., and our mission is to have Customers for Life. That means from the time you first contact us, to the time your job is complete, we are committed to providing top-notch service and installation.