The housing market fluctuates with every passing year. As the overbidding frenzy dies down in 2022, other expenses are going up, like the cost of roofing plywood. Today we’ll explain why the plywood cost is going up, how it’s affecting the price of roofing, and how you can save money on roofing, despite the economics.
Why is the roofing plywood cost increasing?
In 2021, lumber prices rose to their highest in May, dramatically fell, and rose again towards the end of the year. They’re still on a steady increase, and many theorize it’s due to inflation and pandemic supply chain issues. There’s been an increase in demand and a decrease in supply, leading to high prices. That decrease in supply could be caused by trouble in employment and the supply chain due to COVID.
Plywood is one of the main materials essential to roofing, and as a result, the rise in prices has not just affected those who work in construction, but those who own homes and need roofing services.
How does this affect the price of roofing services?
There’s a smaller workforce of contractors and manufacturers than there was before the pandemic. Because of that, they can’t meet the high demands as well as before. Material costs for roofing are rising as well- it’s not just plywood. Shingle suppliers announced 4-6% price increases last year, and metal prices are going up too. Most roofing companies in the USA use imported materials. Supply chain issues have decreased the amount of materials companies have. Demand is still high, but supply is low, so roofing prices are higher because of more costly materials.
How can you save money?
Many experts predict lumber and roofing plywood costs will stabilize around springtime, which is right around the corner. If your roof is in need of repair or replacement, it might be best to plan for a spring or summer roofing service this year. You’ll want to get an inspection (preferably free) to know if your roof will last until then. Looking at last year’s price fluctuation, prices fell just after May. Luckily, warmer weather is great for a smooth roofing installation.
Roofing companies are trying hard to value analyze by using materials with high quality and a more affordable price point. Plywood may not be your only option: you can choose something like oriented strand board, which can perform just as well, and costs less. However, even if material prices aren’t as high as they are now, you don’t want to choose the cheapest roofing service. It’s important to ensure you’re getting quality materials. A strong and long-lasting roof will save you money from energy bills or future repairs.
It’s a good idea to stay updated on lumber prices and strike when you are ready. Moreover, you can save money with roofing companies that offer free inspections and estimates, like we do at Energy Shield. Getting a high-quality roof will save you money in the long run. With a roof that you know will last for decades, you won’t need to worry about more price increases in the future.
