The Impact of Labor and Material Shortages.
Plan ahead and schedule your projects now.
The construction industry is still working to recover from labor and material supply shortages. To date, there has been a 20% increase in material prices compared to 20201 and additional increases are projected. As a result, many roofing projects are experiencing extended delays and multiple price increases.
There are a few factors that have generated the perfect storm of high demand and low supply. The average commercial building age in the USA is approaching 53 years old2 and the collapse of the Champlain Towers in Florida put a bright spotlight on the structural integrity of older buildings. Additionally, the 2021 hurricane season3 brought with it substantial roof damage.
This in combination with unprecedented shortages in both materials and skilled labor caused by the pandemic and the post-pandemic environment, has generated massive backlogs for roofing projects. It will take a while for the industry to catch up. The best way to ensure your roofing jobs get completed is to schedule them with your contractor now. The sooner you get on the schedule, the sooner the contractor can get to your project.
Not sure where to start? A detailed roof evaluation will help you determine your custom roofing needs and generate a proper plan of action. Once you and your roofing contractor decide which projects are the highest priority, navigating the uncertain waters of global construction material and labor shortages will become easier.
1. NRCA. (2021, September 09) Construction material prices are 20.8% higher than a year ago.
2. Barry B. LePatner. (2021, August 6) 5 Roadblocks that Could Slow Construction's Recovery.
3. National Oceanic and Atmospheric Administration. (2021, May 20) NOAA predicts another active Atlantic hurricane season.