The results from the Q1 2024 Quarterly Market Index Survey for Reroofing are in!

By Anna Lockhart.  

Find out the results from the 2024 Q1 survey in this quick highlight summary.  

Each quarter, a coalition of industry trade associations work together to create the Quarterly Market Index Survey for Reroofing, which provides industry professionals with a glimpse into the industry’s performance in various categories over the course of the year. These industry experts have provided a full release of these results that’s available to members and sponsors, but here is a quick overview of the highlights from the Q1 results.  

Demographic breakdown of respondents 

• Business type: 81% of respondents were roofing contractors, while roofing consultants made up the remaining 19% 
• Market type: 90% of respondents identified their businesses as primarily low slope or a blend of both low- and steep-slope contractors, while 11% of respondents specified that they exclusively worked in steep-slope projects only 
• Materials installed: The report results found that 48% of participants who identified as roofing contractors reported that the volume of materials used in their Q1 2024 projects increased in comparison to their Q1 2023 projects. 31% of participants reported no change, while 22% reported a decrease in their material used in installation projects.  

Customer inquiry questions 

• Customer inquiries: It was reported that 37% of respondents saw an increase for Q1 2024 in customer inquiries compared to Q1 2023; 45% of respondents reported no changes in customer inquiries; 18% reported a decrease.  
• The Customer Inquiries Index reported a decline in customer inquiries recorded for the second consecutive quarter in a row, dropping from 60.6 in Q4 2023 to 59.2 in Q1 2024.  

Project contract questions 

• Project contracts: For Q1 2024, it was reported that 48% of all respondents saw an increase in project contracts compared to the same quarter in the previous year, while 28% reported no change. 25% of respondents reported a decrease in project contracts compared to the same quarter in the previous year.  
• The Project Contracts Index for the total industry reported a decline from the previous quarter, moving to 61.0 in Q1 2024 from 62.0 in Q4 2023. 
• Project backlog: As of April 2024, it was reported that 36% of respondents reported a project backlog of three months or longer, which is down 11 points compared to the percentages that reported in January of 2024.  

Next steps  

The Q2 2024 Market Index Survey for Reroofing will open in early July and will be promoted throughout a two-week survey period. For those wanting to help contribute to the growth and promotion of the industry, keep a look out for the next survey! Respondents to the survey and members of the manufacturing associations sponsoring the survey will receive a full report of the resulting data and access to an online dashboard to analyze the responses.