THE SHINGLE SHORTAGE CONTINUES?

As we start heading in the beginning 2023 , things seem to be on a good trend despite inflation. Many industries are roaring back, like restaurants, hospitality, and theme parks. In addition, our economy seems to be bouncing back as unemployment rates are dropping. Good news, right? Well, one industry is suffering more than others, and that is anything related to homes. Building material prices have skyrocketed due to forced shutdowns of factories in 2021, the high price for oil, inflation, Hurricane Ian, and every construction industry is feeling this squeeze. Especially the roofing industry.

Shingle Shortages & Increased Cost

If you are in the process of getting your shingle roof replaced or repaired, you understand the pain that the shingle shortage in 2021 caused. There are several issues that homeowners are facing:

Limited Color Selection
Longer wait times for delivery
Increased Costs
Delayed Roof Installations

Although the pain is worse for the homeowner, it is hurting roofing contractors as well. The increased cost of shingles and availability is terrible for business. Roofing contractors want to offer the most variety of colors at fair prices, but it is getting complicated with this shortage and higher costs. Few and fewer people are willing to replace their roofs because they can not get the color they want and because it has become more expensive. The shingles on your roof will last for years and years to come, so having the color and type you want is a need. This problem will only get worse with the reason passing of Hurricane Ian.

Still, have your doubts? Here are the bulletins sent out to all roofing contractors warning about the price increases from the shingle distributors.

Lumber Prices Have Stabilized

If you were online during the earlier months of 2021, you might have noticed the price of lumber at an all-time high. Lumber prices rose by almost 300% since the beginning of 2021. Why was this happening? The short answer is Covid-19! The pandemic caused a boom in the housing market.

As a result of the boom, the construction industry saw a significant boom as well! As the world shut down, many saw an opportunity to purchase new homes, renovate homes, and build new construction. At the same time, manufacturing saw decreased production as workers were laid off for safety reasons and factories shut down. Thus, high demand and low availability. As a result, stockpiles cleared out, and now the supply is SLOWLY catching up.

The good news is that prices have dropped by 78% from the astonishingly high $1,500 that we saw during the mid months of 2021. Since the price decrease came as fast as the increase, it might take weeks and even months before consumers see those savings. In most cases, the roofing company does not make any profit from charging for wood. However, all this will likely change due to Hurricane Ian’s massive destruction on the west coast.

Should I Wait To Get My Roof Done?

The simple answer is NO! It would be best if you did not wait to get your roof done. As prices continue to increase, the longer you wait, the more it will cost you. Inflation was on the rise and it might get worse in 2023 so the faster you get it done the better. Also, the demand for construction is on the rise because of all the damage done by Hurricane Ian. Although wood prices stabilize and manufacturers are slowly catching up to demand, we are one big storm away from being in a roofing supply shortage AGAIN! If you are having roof issues and you wait too long, it might be too late. The faster you can get an estimate and get your roof done the better.

Consider An Alternative Roof Material. Metal?

Since the shortage started in 2021, we at APC Roofing saw a rise in homeowners moving away from shingles. Metal roofs have become incredibly popular among homeowners. They are better materials for storm preparedness (which is a plus after seeing the damage caused by Hurricane Ian) and there is not as long of a wait time as some shingle colors. If you are interested in making the upgrade, visit our page that explains a bit more about metal here:

How We Are Handling It?

Here at APC Roofing, we understand how troubling all of these price increases are. Believe us when we say that it affects us as well. We are on a mission to keep prices fair and accurate to provide you with the best possible experience you can have with a roofing contractor. Working with us means that you have a contractor that is with you every step of the way. #ALWAYSPLEASEDCUSTOMERS