Is There A Roofing Material Shortage?

You’d think everything would immediately return to business as usual as the economy recovers. But the world is slowly healing from pandemic-related issues and industries are still afflicted. The roofing industry, in particular, won’t recover from the roofing materials supply shortage anytime soon.

Roofing Materials Shortages: Why It’s Happening

When the novel coronavirus was spreading rapidly around the world, many things were put on pause. Albeit, the US only had to deal with two months of lockdown. But this alone had a devastating effect on transportation and manufacturing processes. Because of this pause, roofing contractors had their schedules obstructed.

With the shingle and roof insulation shortage and lack of transportation, contractors were not only faced with delayed delivery, but they also had to contend with drastic price increases in various roofing materials.

For these reasons alone, Roof Repair in Los Angeles can’t stress enough how important it is that you get the roofing you need. 
The roofing materials supply shortage has caused many issues for contractors. Likewise, consumers have also been afflicted, which is why you should hire a contractor if you recognize any signs of a failing roof on your property.

Roofing Material Price Increase 2021

The bottom line is, the roofing materials supply shortage has caused a dramatic price increase over the past year. But worst of all, decreasing prices are only slowly occurring over time.

Abc.Org Has Indicated That While Prices Are Dipping, Good Pricing Won’t Occur Until 2023

The price of construction materials has risen 20.8% on a year-to-year basis with only a 0.6% drop from July to August. With nonresidential construction materials, specifically, overall pricing has increased by 21.6% compared to what it was only a year ago.

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A Commercial Roofing Material Shortage Has Also Caused Severe Pricing Swings.

Massive properties often rely on durable metal to support their foundations. Unfortunately, a commercial roofing material shortage has made large-scale roofing a burden as iron and steel prices have increased 95.2% year-over-year.

Besides increased prices from the metal roof shortage, other roofing materials have had monthly price increases of 3% or more, including:

  • Prepared asphalt
  • Steel mill products
  • Natural gas
  • Fabricated structural metal products

Roofing Material Price Increases

In 2021, price increases significantly affected the cost of repairing or replacing a roof. We reported here that the price of construction materials in 2021 rose by 20.8% from 2020. However, the costs of other materials essential to the roofing industry also soared. This includes steel mill products, prepared asphalt, natural gas, and shingles. 

Analysts predict that the price increases will continue through 2022. Official data from the Association of General Contractors (AGC) shows that the producer price index rose to 19.6% at the start of 2022. Statistics also reveal that inflation in the US had skyrocketed to 8.4% by March 2022. 

The Effects Of Price Increases On Roofing Bids In 2022

Challenges in the construction industry are across the board, not just for roofing contractors. For example, because of constant hikes in prices throughout 2021, many manufacturers started holding prices for ten days or fewer — compared to the traditional 90 to 180 days pre-pandemic. Therefore, contractors need to plan ahead for projects to submit competitive bids on roofing projects. 

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Here Are Some Examples Of What Happened In 2021 That Affected The Costs Of Roofing Supplies:

  • The AGC reported in October 2021 that the price of raw materials had shot up by nearly 20% across the board. 
  • In December 2021, reports showed that the cost of asphalt shingles had increased by another 10%. 
  • From 2018 until 2021, the price of asphalt products jumped by around 33%. 
  • Some contractors may help control their losses by adding a price change clause to Roof Contractors. This could become standard practice until issues in the roofing supply chain disruptions get resolved.

How To Weather The Storm Of Roofing Supply Chain Issues In 2022

Most analysts predict that time will correct most, if not all, supply chain issues. However, delays in shipping, increased costs, inflation, and longer waiting times all impact the availability of roofing materials and supplies.

At Code Engineered Systems, we care about our clients, and we aim to repair or replace roofs in the shortest time possible. However, we also want to manage your expectations for what to expect in 2022. 

But does this mean that you should delay considering a roofing project? The short answer is no. Putting off a commercial or residential roofing project could severely impact your property. A damaged or leaky roof can cause issues with mold and dampness and lead to costlier repairs down the line. 
Experts expect roofing supply chain issues to continue through 2022. So it’s in your best interest to get on a roofing contractor’s job list as soon as possible. This way, you’re first in line to get the essential repairs you need.

Here Are Some Ways To Get The Best Deal For Your Roof Repair Or Replacement.

Manage Your Expectations

If you’re planning to have a roof installed or repaired, it’s best to be patient. Issues in the supply chain for roofing materials can occur unexpectedly and are out of the contractor’s control. Additionally, delays or increased costs could impact the final price or finish date.