Steep-Slope Market
A Healthy Western Residential Roofing Market
by Marc Dodson, Editor
Despite the rising cost of homes and less-than-friendly mortgage rates, the Western steep-slope market seems to be doing well. While the rate of increase has slowed, the steep-slope market in the West is still quite healthy. Any increase is good, so we’ll take it.
Over the last couple of years, many made the switch from commuting to working remotely. Thus, many workers moved to larger quarters or remodeled their homes in order to accommodate the change. This fueled a small boom in the residential roofing market.
Lately however, there’s been a push from firms to require workers to return to an office environment. Despite numerous companies trying to lure employees back to their main office, employees liked this new way of working from home and are resisting. In numerous instances, corporate office space is permanently being downsized. Many companies have come to realize that having employees work remotely is a viable long-term option. It’s something nobody would have predicted a few years ago, but the pandemic induced home office is no longer temporary, but here to stay.
Reports from contractors throughout the West show a continued improvement in new residential roofing. Steep-slope reroofing also continues to rise and new residential construction projects around the West are being built. With a few exceptions, we’re pretty much hearing the same report all around the West. New residential construction projects and reroofing projects are definitely still on the rise.
Supply & Demand
While the actual amount of residential roofing materials sold has slowed when compared to several years ago, their availability has increased. In fact, residential roofing materials are now available in a matter of weeks rather than months. Even with the possibility of tariffs threatening to slow construction, the Associated General Contractors of America have reported that finished and raw construction material prices have only risen by .04% in recent months.
This year, the Western steep-slope market will likely account for 49% of the roofing pie, which is close to last year’s figure. According to a number of sources, including industry experts, construction industry associations, financial institutions, and our own surveys, this trend will likely continue.
Residential Product Mix
Custom homes and upscale tract homes are being built, albeit at a slower rate. The high-end products, such as tile, slate, metal, and premium fiberglass shingles are all doing well.
The construction and sale of single-family homes and multi-family residences has also slowly been increasing. Some are moving to smaller upscale condos, either as a second home or as an office away from home.
Reroofing & New Construction
Reroofing continues to dominate the Western steep-slope market, and always will. Reroofing will capture a predicted 55% of the total Western residential volume. This is about the same as last year. Repairs and maintenance will account for 21%, up slightly from the previous year. The remaining 24% goes to new construction.
Product Mix
Once again, the most popular steep-slope roofing product installed in the West is, was, and remains fiberglass shingles, with a lion’s share of 66.5% of the market. This market percentage for fiberglass shingles is up very slightly from last year. Metal, concrete tile, clay tile, and slate remain approximately the same as last year.
Down the Road
Everyone is wondering just how long the Western residential market will continue to increase. There are many unknowns, including foreign and domestic tariffs, increasing mortgage rates, and the worldwide economic climate. Then there’s the ever-present challenge to find enough warm bodies to work on the roof.
The construction industry is currently experiencing a slow but steady upswing in both low-slope and steep-slope construction projects. The majority of industry sources seem to agree that this trend will continue for the immediate future. Right now, most Western roofing contractors are busy, and just trying to find enough able-bodies and skilled workers willing to get back on the roof.
