Rise in Roofing Construction Costs
So many things changed the way we all operate in 2020. Now in 2021 we are seeing a lot of the affects of those things. Covid 19 played a huge factor in a reduction of materials and supply chains, though it was not the only thing slowing things down. This drove the cost of raw materials up very high and made them even harder to come by. Raw materials such as lumber and steel are in high demand with very little production to meet those needs.
A lot of raw material manufacturers are starting to open back up in the wake of the pandemic, but a lot of people are very hesitant to go back to work. This is leading to a shortage in supplies as companies struggle to produce at the rate they used to. Production shortages are expected to continue through the year.
But Covid isn’t the only thing causing production slowdowns. Increases in wildfires have taken out 10’s of millions of acres of forests. It will take decades for that to regrow and catch back up. The increase in lumber has been up to and more than 20% in some areas. While contractors try to eat the majority of that cost, you only see about a 1% increase in the cost of your new roof so that we may remain competitive.
The blocking of the Suez Canal also played a huge role in material supply. Many people do not realize the percentage of global trade that passes through the Suez Canal every day. This caused a lot of contractors to become hoarders and buy up what supply was left.
As with manufacturing, coming out of the pandemic we are seeing people reluctant to go back to working in shipping. Loading and unloaders are in short supply as well, resulting in a loss of materials, high demand, and low supply.
It Will Get Better
As production ramps up, people go back to work, and supplies become available again, the cost of your roof will go back down. The rise in roofing construction costs may not be at pre-pandemic levels yet, but everything is being done to mitigate the cost to the consumer. This may mean less options for the color and style of your shingles for now, but with time we will see all of those things come back. If you have any questions about the cost of your new roof, send Roof Co a message and we will be happy to answer all of your questions.