Garage Door Prices Are Increasing – Why?
In the months since COVID began, prices of consumer goods have continued to climb. Why are garage door prices increasing? Garage doors are one of many market segments experiencing extremely high demand due to homeowners’ focus on home improvements during the pandemic. Inventory is rapidly shrinking as manufacturers struggle to produce new garage doors and parts built to meet strict federal and local standards.
Supplies of Garage Door Parts and Materials are Drying Up Fast
Those in the market for new garage doors or in need of emergency garage door repairs may find parts and materials hard to come by or nonexistent. You can expect to wait an extended time for garage doors and parts like springs and garage door openers. Orders continue to get pushed further back, with no reliable ETA on new inventory. Frequently, when new garage doors do arrive (months later than expected), they come without the necessary hardware, creating installation snafus.
No End in Sight for Soaring Garage Door Prices
Since January 2021, manufacturers have raised prices on garage doors and hardware by 50%. The cost of raw materials like lumber and steel has risen exponentially over the last several months. Pandemic-related factory shutdowns, supply chain issues, labor shortages, increased transportation costs, and shipping delays continue to complicate matters, making parts and materials nearly impossible to come by. By December, industry experts expect to see an increase of 100% on garage doors and parts.
Prices on Raw Materials Continue to Climb
As the domino effect of world events continues to take its toll, the prices of raw materials needed for garage doors (and many other home improvement projects) continue to climb. High-demand materials like lumber and steel are up 35 and 40%, respectively. Plastic, concrete, asphalt, and other construction products have also drastically increased in price. The added cost of these materials inevitably trickles down to consumers, stressing businesses and buyers alike.
Do you need a new garage door or parts for the garage doors on your Bay Area, Walnut Creek, Alamo, Pleasanton, San Ramon, Concord, Oakland, Pittsburg, or Brentwood home? Garage door prices are increasing – take advantage of available equipment while it lasts before costs climb higher. Contact GDI Garage Doors for help.