Reroofing Survey Reports Mixed Sentiments for Q3 2022

The Market Index Survey for Reroofing is an industry-led initiative that takes the pulse of business activity in the United States and Canada on a quarterly basis. For the quarter ending September 30, 2022, respondent feedback demonstrated diverging sentiment among businesses engaged in steep-slope roofing versus low-slope roofing. 

The survey asks respondents to report year-over-year activity for customer inquiries and project contracts as indicators of future reroofing activity. The survey produces indexes for each question. A score of 50 or higher suggests expansion or optimism, while a value below 50 indicates contraction or pessimism. 

For the steep-slope market, the Q3 2022 Customer Inquiries Index rose to 48.1 from a reading of 41.2 in the prior quarter, but remained negative suggesting continued headwinds for future projects.

For the low-slope market, the Q3 2022 Customer Inquiries Index dipped slightly to 60.6 from a score of 61.6 in the prior quarter. The Q3 2022 score suggests continued optimism for future low-slope projects. 

Scores for the Project Contracts Index followed similar trends with the steep-slope market score turning negative for Q3 2022. This matched the declining sentiment in customer inquiries over the last two quarters. The low-slope market score remained positive for Q3 2022 moving slightly lower to 65.5 from 66.0 in the prior quarter.

The survey also asks respondents to report the length of project backlogs as an indicator of economic activity. For the steep-slope market as of October 2022, 48 percent of respondents reported no project backlog and 16 percent reported a project backlog of 3 months or more. Comparatively, respondents in the low-slope market reported longer project backlogs with 59 percent reporting a backlog of 3 months or more, and only 11 percent reporting no backlog. 

Roofing contractors and consultants doing business in the United States and Canada are eligible to participate in the quarterly survey. For the Q3 2022 survey, 70 percent of respondents were roofing contractors and 30 percent of respondents were roof consultants. Interested parties can sign-up for alerts to patriciate in future surveys at http://eepurl.com/hZH-29. The Q4 2022 survey will be administered in early January 2023 and participants receive access to the full survey results. 

About the Author

Justin Koscher
Justin Koscher is president of the Arlington, Va.-based Polyisocyanurate Insulation Manufacturers Association (PIMA). He previously served as vice president of Public Policy at the Center for Environmental Innovation in Roofing.

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