We are a long way from Texas, but we’ll be feeling some economic impacts in the roofing industry right here in Iowa from Hurricane Harvey. In the event of a natural disaster, like Hurricane Harvey, the demand for materials to rebuild increases dramatically. Shingles, plywood, lumber, freight costs and others all increase in price to meet the high demand. Sometimes it’s even difficult to get the products at all. This level of widespread price increases will reach Iowa and will affect how much you pay for building materials when you roof your home.
This storm caused some other problems in Texas as well. The hurricane hit an oil refinery which will cause oil production to decrease, therefore increasing the price. The overall impact of an increased demand for oil is higher freight costs and more expensive asphalt shingles as well.
Although this news seems daunting, there is a silver lining. Prices have not risen yet! History has shown that they are sure to increase soon. If you are considering a roofing project this year, reach out and we will get you a quote as soon as possible. We will be able to purchase the products and secure a solid price before prices increase.
