It seems now that every aspect of life is affected by inflation and the rising costs of goods. If you recently contacted a roofing contractor for a roof replacement or repair, you may have been shocked to find that even the estimates for the job were higher than what you had calculated.
The prices of roofing materials are rising across the country. In 2022, the cost of roofing rose 5-10% nationwide, continuing a years-long trend of annual increases. Roofing professionals often receive letters from materials distributors notifying them of material price increases that they then have to pass on to customers in order to maintain a profitable business. We understand that these rising costs can be confusing and frustrating, so we at Ed & J United Roofing are here to help shed light on the subject and explain the reason behind rising costs.
1. Product Shortages and Supply Chain Disruptions
You won’t be surprised to learn that the COVID-19 pandemic has caused prices to increase in nearly every market. Because the pandemic seriously disrupted the flow of goods in the supply chain and made it more difficult for manufacturers to produce products, prices significantly rose. These pandemic-related issues affected manufacturers of all the essential materials needed for roofing, including oil, wood, and metal.
2. Rising Costs of Crude Oil
Crude oil is one of the most important raw materials in the roofing industry as it is distilled into the asphalt that makes shingles. Crude oil prices were already on the rise throughout 2021 due to exploding demand as the world reopened, but the Russian-Ukraine war caused prices to skyrocket as Russia is one of the largest crude oil-producing nations. The demand for crude oil only continues to rise as supply stagnates, further exacerbating the rising costs of shingles.
Increases in petroleum also mean that the cost of shipping and transporting materials rises. These shipping increases are passed down by material distributors to the contractors.
3. Natural Disasters
Natural disasters also cause the price of materials to increase, and there have certainly been no shortages of environmental calamities in the past few years. When massive tornadoes or hurricanes wreak havoc on populated areas, the demand for roofing materials jumps as local governments must repair the damages. These natural disasters will cause material prices to increase across the country.
Roof Repairs and Replacement Will Always Save Money in the Long Run
Despite the trends in roofing material price increases, roof replacements and repairs are an essential part of home maintenance. Repairing or replacing your damaged roof will always save you money in the long run as delaying action will cause further, costlier damages. Roofing is particularly important in areas such as Bakersfield, CA where the warm and humid summer days can aggravate problems.
Ed & J United Roofing always strives to give our customers the best deals with the best material possible, no matter the economic conditions. Contact the Ed & J team today for the best roofing estimates in the area. Our professionals are available to answer any questions you have about materials and how we calculate our costs!