Established by the National Association of Home Builders (NAHB), National Home Remodeling Month aims to educate homeowners looking to renovate their homes–and there are A LOT of homeowners looking to renovate in 2023.
Home renovations increased by 20% and reached their highest rate since 2018, according to a 2022 U.S. Houzz & Home Study.
One of the main reasons home remodeling projects are booming is due to the increase in home values. Many homeowners are flush with home equity and ready to re-invest in home improvements, including roofing.
May is National Home Remodeling Month and presents a valuable opportunity for roofing contractors to generate new business. To help roofing contractors make the most out of National Home Remodeling Month, we’ve compiled the top trends in residential roofing and remodeling. Keep reading for insights on:
- Top Remodeling Trend: New Homebuyers Are Spending More
- Top Residential Roofing Trend: Energy Efficiency
- Top Supply Chain Trend: Mitigating Delays and Shortages
Top Remodeling Trend: New Homebuyers Are Spending More
If you want to target a market that is willing to invest in larger remodeling projects, like a new roof, new homebuyers are a great place to start.
You may not think that new homebuyers–defined as those who purchased a home within the past year–are the ideal audience to target. After all, new homebuyers only accounted for 10% of residential remodeling projects in 2021, which seems dismal compared to long-term homeowners (defined as those who’ve owned their home for 6+ years) who accounted for 60% of all residential remodeling projects in 2021.
But it’s important to understand that new homebuyers often take on major projects immediately after purchasing their home. They also spent a median of $30,000 on home remodeling projects–double that of long-term homeowners in 2021. New homeowners also had the highest spend for higher-budget projects, with an average of $175,000 spent compared to long-term homeowners who had the lowest median spend at $90,000.
*Source: 2022 U.S. Houzz & Home Study
Top Residential Roofing Trend: Energy Efficiency
Energy efficiency is hot right now–literally.
Homeowner demand for energy-efficient roofing solutions is skyrocketing. Some states are even requiring energy-efficient roofing. For instance, California’s Title 24 requires that energy-efficient “cool roofs” are used in new residential construction or substantial remodeling projects.
Cool roofs absorb or reflect heat away from the home and can significantly improve energy efficiency and reduce cooling costs.
Homeowners outside of California have become increasingly aware of the energy-efficient benefits of cool roofs, too.
Take metal roofing, for example. Metal roofing is well known as one of the most energy-efficient roofing materials on the market. All types of metal roofing products have skyrocketed in popularity due to their inherent energy efficiency and variety of cool roof styles and colors.
“We used to receive around five to six calls total from homeowners interested in installing a metal roof. Now, we receive five to six calls a week.” –Gene Judd, Owner of Bone Dry Roofing
Metal roofing is also in high demand because it’s one of the best roofing materials to pair with solar panels.
It’s important to note that not all roofing materials pair well with solar. For example, asphalt shingles need to be replaced as often as every 12 years on average, but solar panels can last for 25 years or more. This means homeowners will likely need to replace an asphalt shingle roof long before their solar panels need replacement.
Metal roofing, on the other hand, lasts two to three times longer than traditional roofing materials like asphalt shingles.
Top Supply Chain Trend: Mitigating Delays and Shortages
Unfortunately, high demand and ongoing supply chain issues created challenges for roofing contractors in 2022, including material delays and soaring material prices.
Even though COVID restrictions and concerns began to ease in early 2022, material availability remained the biggest cause of project delays from April through year-end, with material prices becoming the second-most limiting factor.
As of November 2022, 63% of contractors stated that material availability was the top cause of project delays, while 35% cited material prices as the main challenge.
As a result, homeowners reported postponing projects altogether in 2022, with 57% reporting delays in November compared to 42% in May.
Roofing contractors can help mitigate the impact of supply chain delays, material shortages and increasing costs by:
- Monitoring the market for any changes in availability or pricing, and over-communicating these changes to prospects and customers.
- Being transparent about any potential delays or price increases, and setting realistic expectations to ensure customer satisfaction.
- Using roofing products with U.S.-based manufacturing facilities to minimize supply chain delays from overseas manufacturers.
There are also marketing strategies that roofing contractors can leverage that will not just mitigate these challenges, but also generate new business.
For example, you’ll want to audit your marketing collateral–including brochures, advertisements, social media properties and your website–and identify areas where you can emphasize the benefits of booking roofing projects in advance of peak season.
Homeowners may not realize the importance of scheduling their roofing project early in the season, and National Home Remodeling Month is the perfect opportunity to:
- Offer incentives, such as a free roof inspection, or discounts for homeowners that book their roofing project early.
- Communicate that peak season is coming and supply chain issues may be an issue. This type of proactive communication builds trust, credibility and rapport with prospects.
Additionally, NAHB offers a variety of marketing templates for contractors looking to capitalize on National Home Remodeling Month on their website.
Make the Most Out of National Home Remodeling Month with DECRA Metal Roofing
With demand for metal roofing at an all-time high, roofing contractors are perfectly positioned to capitalize on this rapidly growing market by adding DECRA Metal Roofing to their service offerings.
Getting started is easy. All you need to do is join our network of qualified metal roofing installers.
Contact us today to learn how we can help you get started with DECRA Metal Roofing!