What’s Causing the Rise in Roofing Material Prices?
After the severe storms and hurricanes that battered many parts of the country, especially Ohio, in recent months, property owners are now scrambling to get their roofs fixed. But the cost of roofing materials has risen sharply, making it a more expensive proposition than ever.
If you’ve recently had a roofing contractor inspect your roof and give you an estimate, you’ve probably been surprised by the high cost of roofing materials.
Is it the Shady Contractors Taking Advantage of Homeowners?
It’s fair to suspect some contractors are trying to take advantage of the situation and inflate their prices. But the truth is, most roofing contractors aren’t out to gouge their customers; they’re simply trying to stay in business themselves.
Absolute Roofing and Construction Inc. understands your concerns, and we want to help. This blog post will clarify what’s driving the recent increase in roofing prices, as well as what you can do to keep your project costs under control.
The Reality of Price Increases in the Roofing Industry
You wouldn’t be shocked to learn that the price hike in roofing is driven by the same thing causing inflation in nearly every other industry: the coronavirus pandemic.
COVID-19 has been an emotional and economic roller coaster, with businesses shutting down and then reopening only to shutter again. The result has been widespread supply chain disruptions that have made it difficult for manufacturers to keep up with the demand.
The good news is that the roofing industry has been able to weather the storm better than most. The industry is experiencing a boom thanks to the massive influx of federal stimulus money. The bad news is that this boom is driving up the cost of roofing materials.
Additionally, the raw materials used to manufacture roofing products have become more expensive. For example, petroleum prices were already rising in 2021, but they spiked again recently after the Saudi Arabia oil facility attacks. The Russian invasion of Ukraine in February 2022 also disrupted the world’s supply of petroleum, which caused prices to skyrocket.
As a result, the cost of asphalt shingles, one of the most popular types of roofing material, has increased significantly in the last year. Metal roofing prices have also increased, although not as dramatically. Other roofing materials, such as slate and tile, are also becoming more expensive.
Don’t Distress – Call Ohio’s Leading Roofing Company Today!
We are a full-service Platinum Preferred Owens Corning roofer, offering you the best roofing products and services. We are also NARI certified and accredited by the Better Business Bureau.
Our team has over 28 years of roofing experience. We are committed to delivering the highest quality products and services at competitive prices.
If you are considering starting a roofing project, now is the time to act. The sooner you schedule your project, the lower your costs will be.