I hope you don’t need a new roof this year. If so, it’s going to cost a whole lot more than it did last year.
We received a letter today from a materials supplier which states:
“All manufacturers of residential roofing have announced a price increase February 4th in the rate of 10-12%. We expect to increase our pricing March 1st about $7-8.00/square. Since our original letter we have received a second increase scheduled for April 1st in the amount of 12-14%. This probably means an additional increase of $8-10.00/square on or about May 1st. I’m sorry to say, but my prediction is that standard laminates will be $108.00-$110.00/square by the start of the roofing season. …Please put price escalation clauses in your contracts as we don’t believe we are done with roofing increases in 2013. The situation is getting very serious and we have no control. Please heed these warnings because we believe they are for real.
The vinyl siding industry has also announced a price increase scheduled for March 1st in the range of 6-8%. This includes vinyl siding, soffit, accessories, and polymer shakes and accessories….”
The letter goes on to apologize for always being the bearer of bad news, and noting other increases going into effect on the 1st of April including:
Fiber cement: 4-5%
PVC Trim: 3-6%
Vinyl railing & decking: 8-12%
Vinyl windows: 5%
Steel roofing: 4-5%
Low slope products: 5-10%
Roof insulation: 5-10%
But of course, as we watch the price of building materials, food and health premiums rise, the government tells us there’s no inflation. That’s because they distort the numbers, for those of you who are wondering.