Look For At Least A 15 to 20% Increase In Building Material Prices In the Coming Months.
Litespeed Construction is using this web page to alert our customers to the best possible information that we have about the possible roofing materials crisis of 2020. The construction material inventory across the country is extremely low.
This is due to the plant shut down caused by Covid19. Please note that Litespeed Construction intends to continually update this web page and not create any new pages regarding this issue, so we may better advise our customers and the public on how to best navigate this crisis.
According to our material suppliers, all out of stock inventory, colors and special orders are taking at least 2 months to get in stock. We apologize for any inconvenience that this may cause our customers. We can assure our customers that before starting any job or project Litespeed Construction will ensure the availability of all the necessary materials to complete any open project.
In addition, all material suppliers and manufacturers are having a materials price increase. Litespeed Construction wants to alert our future customers that we are doing our best to get the nation’s best quality materials at the best available prices for you. And Litespeed Construction will honor all negotiated contracted prices despite price increases.
Lumber prices have already jumped over 200% since March 2020.
For instance a sheet of 4 foot by 8 foot particle board was only $8 a few months and now is $28.
Most other lumber has gone up nearly as much.
We will have regular updates to this article in the coming weeks.
This Is From Superior Distribution
“Entering inflationary period. Despite shingle mfg’s entering a period of raw material deflation, we are becoming more confident that we’re entering an inflationary period for shingles.
This week GAF put out a 4-6% price increase effective August 17th. This follows Tamko/Atlas’s 2-7% increases and OC has since followed with an increase matching GAF.
We are becoming more confident these increases are actually going to stick. The reason being is that lead times are massively extended (due to cramming 12 months of demand into 10 months of production).
We’re hearing everything east of the Rockies is extended (Eastern half of US most extended). It’s to the point some manufacturers are limiting the colors being offered in order to boost production. One industry contact described the current lead times/market conditions as not being seen since 2005 (peak of prior cycle).
Some contacts think there could even be another price increase this year. Therefore, we believe we’re entering an inflationary period which is typically good for distributors.”