Trade Association Coalition Completes First Quarterly Market Index Survey for Reroofing
CRCA is one member in a coalition of industry trade associations representing contractors, consultants and manufacturers in the U.S. and Canada, that has completed its initial Quarterly Market Index Survey for Reroofing. The survey takes the pulse of the reroofing industry on a quarterly basis and serves as a regular barometer of the industry’s business conditions.
By asking a handful of business questions and measuring responses across a number of demographics, the survey helps give an indication of the reroofing market strength and trajectory. It is also a great tool for roofing contractors and consultants to benchmark their business against similar businesses in Canada and or the USA.
Nearly 500 respondents completed the eight-question survey during a two-week period in January with more than three-quarters of responses coming from contractors, and balance coming from roof consultants. The results indicate the continued resilience of the industry in the face of a struggling economy and the global COVID-19 pandemic.
Some topline excerpts of the survey are:
- Thirty-three percent of all respondents indicated their customer inquiries increased during the fourth quarter of 2020 compared to the same quarter in 2019. Thirty percent of respondents reported a decrease in customer inquiries during the same period with 37% indicating no change in activity.
- The survey revealed a similar trend for project contracts with 31% of respondents reporting an increase during the fourth quarter of 2020 compared to the same quarter in 2019 and 32% reporting a decrease in project contracts.
- Twenty-one percent of roofing contractors reported no project backlogs, 46% reported project backlogs of one to two months, and 23% reported project backlogs of three to four months.
The complete results of the Quarterly Market Index Survey for Reroofing are available to those who participate in the survey via an online dashboard that enables users to filter results by region and other metrics. Any contractor or consultant who wants to participate in next quarter’s brief survey can sign up for a notification at http://bit.ly/37ank7D.