Why Roofing Costs Have Soared in Recent Years

If you own a commercial or residential property in Texarkana, you already know that you need to invest in regular roof maintenance, repairs from time to time, and eventually a complete replacement.

In the last few years, roof installation and repair costs in Texarkana have soared, leaving us wondering what exactly is going on. Whether it’s your business premises or your home you need to maintain, you want to know: why have roofing costs risen to high in recent years?

The Factors That Contribute to Roofing Prices

Two main elements contribute to roof installation costs in the city of Texarkana: labor and materials. Trends in the US labor market and the global commodities markets are negatively affecting local roofing costs.

Labor

Construction companies in Texarkana have been struggling to hire enough workers to complete projects on time or at all, which follows a nationwide trend.   Across the US, the number of people in the skilled trades is declining rapidly due to older workers retiring and a shortage of youngsters following these career paths. The result is solid wage increases in the industry which has caused the cost of labor to continue to increase over the last several years.

Roof Material

Pandemic lockdowns resulted in shortages of building materials such as timber and metal which caused material prices to spike. Supply chains were expected to have recovered by now, but Russia’s war on Ukraine subsequently sent oil and natural gas prices skyrocketing.  Asphalt shingles, PVC, TPO, and rubber roofing production all rely on fossil fuels for production – not to mention the increase in transportation costs with rising gas prices.  All of these together have greatly impacted the cost of roofing materials throughout Texarkana in recent years.

With roofing prices soaring as they have and likely to continue increasing for the foreseeable future you want to know that the roofing service you’re investing in will be reliable and long-lasting. When you need roofing solutions in Texarkana you can count on, call Hostetler Roofing to provide them!