Lacie Lowry, News On 6
TULSA, Oklahoma -- Victims of recent storms who are trying to repair the damage to their homes could be in for a surprise. Roofing shingles are on the rise for a variety of reasons.
A major manufacturer of roofing products had one of its facilities damaged in the Tuscaloosa, Alabama tornado and its other facility in Joplin, Missouri was affected by the May 22nd twister.
At M&M Lumber in Tulsa, there's no shortage of shingles. The construction materials store keeps a good supply on hand, but is bracing for higher shingle prices the next time they buy from the manufacturer.
"Usually you know, it could go up 10 or 15%. We just don't know yet," said Jeremy Bates of M&M Lumber.
Tamko, a major supplier, took a major hit from tornadoes. Shingle prices also increase every time the price of oil jumps, because shingles are oil-based.
Greg Berry started Summit Roofing five years ago.
"Yeah, we're starting to see an increase in material costs and we'll continue to see an increase for several months, I'm sure," Berry said.
Berry expects to pay up to 20-percent more for shingles in the aftermath of this latest round of severe weather.
"Overall whenever you have severe storms that affect entire areas and insurance companies have to bring in catastrophe teams and basically consider entire zip codes a total loss, then you are going to see material prices increase," Berry said.
And when Berry has to pay more for product, his customers end up having to pay more for a roofing job.
Back at M&M Lumber, they're hoping they have enough supply of shingles until prices go back to normal.
Some roofing companies fear that more demand for shingles and other building materials that will be used in rebuilding homes damaged by the storms could lead to even more price increases.