Material Price Increases
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The increase in materials pricing is a key topic of conversation in the construction industry. The National Association of Home Builders estimates that the price of lumber has increased by more than 180% since last spring, and CNN recently announced that steel prices are sitting at a record high that is nearly triple the 20-year average. Couple that with an industry that has seen a surge of demand in the past year, and you’ve got a perfect storm facing pool builders across the country.
The U.S. Chamber of Commerce says that 71% of all contractors are experiencing at least one product shortage, with top reported material shortages in wood/lumber, steel, and pipe/PVC.
And, unfortunately, experts don’t expect the pricing in these materials to drop anytime soon.
PHTA suggests that builders proactively address these issues with their customers:
- Communicate to your customers about longer lead times
- Inform your customers about the increases in materials pricing
- Share information that you receive from your manufacturers and distributors about material issues
Join the conversation on my.PHTA.org and let us know about ways you are letting your customers know about these issues.
