Are you concerned about current high roofing material costs? Read this article and inform yourself about the current building materials situation, and your available options, before making a decision about how, and when, to get your roofing project completed.
The current high cost of roofing materials and lumber, along with shortages in supplies, has impacted both residential and commercial roofing projects in the San Jose / Santa Cruz, CA area, as well as areas all across the country.
COVID-19 lockdowns have affected nearly every area of our lives, and almost every industry. The roofing industry is no exception. Production shutdowns that started in early 2020 caused severe inventory shortages for roofing supplies manufacturers. When you couple that with record demand due to new housing starts, as well as homeowner do-it-yourself fix-it projects (as many homeowners stayed home in 2020 and 2021), we’ve got market conditions the roofing industry has rarely seen before.
This mismatch in the supply and demand is causing lumber inventory to decrease dramatically, and because of this, prices have been soaring. The not-so-good news is, production shortfalls are expected to continue throughout 2021, and even into 2022, which will see prices continuing to rise.
Here’s the Scoop from a Roofing Supplier’s Mouth
According to Kevin Lewis, CEO of San Francisco Bay Area-based Al’s Roofing Supply (Buck’s Roofing’s supplier), “A half-inch sheet of 3-ply CDX plywood today will cost you $70 – $85 a sheet, depending on where it’s purchased. Just three weeks ago, that same sheet of plywood was $52 and two months ago, $36 would get it delivered to your rooftop.” (Note: These prices were quoted in the San Francisco Bay area near the end of May 2021. Prices may vary according to the date and location.)
Regarding asphalt prices, Lewis said, “Asphalt manufacturers have had four price increases since August 2020, pushing asphalt products up by 25 to 30 % since then.”
Manufacturers have also put roofing supply houses on allocation, limiting the quantity and frequency that suppliers can obtain materials, as well as limiting the selection of colors and styles of asphalt products available.
On the supply end, suppliers such as Lewis can’t get loads guaranteed to them because the big builders have bought them all up. And then, whatever materials Lewis and other suppliers are able to get their hands on, they are quickly swept up by contractors waiting in line for their materials to arrive so they can complete their projects for homeowners.
What Does Buck’s Roofing Advise You to Do?
The high cost of materials may discourage you from starting a roof replacement right now. However, your roof might need a replacement—and right now. In this case, Buck’s Roofing wants you to know that of all the materials used in roof replacement, plywood has seen the most dramatic price increases. Which means that if your roof project requires the installation of plywood, your prices may be high. But … if you have an existing asphalt composition or flat roof that doesn’t have a lot of dry-rot, you might not need a plywood installation. So, your costs will not be as heavily impacted.
On the other hand, existing wood shake or wood shingle roofs may need to have plywood installed, which will probably be costly in today’s market.
The Forecast for the Near Future
There could be a softening of material prices later this year, but market indicators show that material prices will continue to rise over the next several months. Suppliers such as Lewis are hopeful that by the end of 2022, they will see a marked reduction in building and roofing material prices, as well as an increase in supplies.
What to Do if Your Roof Needs Replacing Now
If your roof needs to be replaced immediately, begin the replacement now. Don’t wait to see if prices are going to come down anytime soon, because they probably won’t.
Your other option is to ‘spot repair’ the roof, if the repair can be done at a reasonable price. Then you can replace the roof sometime near the end of 2022, or, when prices come down again.
If plywood installation is not a requirement for your roof replacement, then pull the trigger and get your roof replacement started today. Finally, for an honest evaluation of your particular situation, don’t hesitate to contact Buck’s Roofing today.
Written by MichaelSledy
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