A coalition of {industry} commerce associations representing contractors, consultants, and producers within the U.S. and Canada has accomplished its Quarterly Market Index Survey for Reroofing for the second quarter of 2024.
The survey is an industry-wide effort carried out by a coalition of commerce associations together with the Metallic Building Affiliation (MCA), Metallic Roofing Alliance (MRA), Nationwide Roofing Contractors Affiliation (NRCA), Asphalt Roofing Producers Affiliation, Canadian Roofing Contractors Affiliation, Chemical Materials & Movie Affiliation Inc., EPDM Roofing Affiliation, Worldwide Institute of Constructing Enclosure Consultants, Nationwide Ladies in Roofing, Polyisocyanurate Insulation Producers Affiliation, Roof Coatings Producers Affiliation, and Single Ply Roofing Trade.
Seventy-seven p.c of survey responses got here from roofing contractors, and 23 p.c of responses got here from roof consultants. Most respondents (86 p.c) indicated they primarily work on low-slope roof methods or a mix of low-slope and steep-slope roof methods whereas 14 p.c indicated they primarily work on steep-slope roof methods.
Members who determine as roofing contractors have been requested to report the variety of squares of reroofing materials put in by their corporations throughout the first quarter of 2024 in contrast with the identical quarter in 2023. Thirty-two p.c of respondents reported the amount of reroofing supplies put in elevated, 30 p.c reported no change and 38 p.c reported a lower in supplies put in year-over-year.
Thirty-five p.c of all survey respondents indicated their buyer inquiries elevated. Thirty-three p.c of respondents reported no change in exercise, and 31 p.c indicated a lower. Challenge contracts elevated for 32 p.c of respondents, 35 p.c reported no change in exercise and 32 p.c indicated a lower in venture contracts.
Moreover, two indices supply perception concerning buyer inquiries and venture contracts throughout market segments. The indices are based mostly on a zero to 100 scale. A rating of fifty or greater suggests growth or optimism; a rating beneath 50 signifies contraction or pessimism.
The shopper inquiries index rating for the full {industry} decreased to 52.3 in contrast with 59.2 for the primary quarter. The rating for the steep-slope reroofing market is 36, the rating for the low-slope reroofing market is 53.7, and the rating for the blended low- and steep-slope reroofing market is 56.3.
The venture contracts index rating for the full {industry} decreased to 50.3 in contrast with 61 for the primary quarter. The rating for the steep-slope reroofing market is 38, the rating for the low-slope reroofing market is 53, and the rating for the blended low- and steep-slope reroofing market is 51.9.
As of July, 26 p.c of respondents reported no venture backlogs, 39 p.c indicated venture backlogs of 1 to 2 months, and 18 p.c indicated backlogs of three to 4 months. Sixteen p.c of respondents reported venture backlogs of 5 or extra months.
The entire outcomes of the Quarterly Market Index Survey for Reroofing can be found to contributors. Contractors and consultants who wish to take part within the subsequent quarter’s survey can join at http://bit.ly/37ank7D.
