Paint Shortage Adds to Construction, Remodeling Woes
Paint Shortage Adds to Construction, Remodeling Woes
Fewer paint products are hitting store shelves, resulting in shortages that could hamper summer home improvement projects. “Some of the most commonly used paints are out of stock,” Mike Marcewicz, founder of Mike’s Painting and Home Improvements, told Bay News 9 in St. Petersburg, Fla.
COVID-19 restrictions and the February winter storm in Texas—where many of the raw materials used to make most paints are found—have disrupted supply chains for home products. “In a supply chain already challenged by COVID-19, the February natural disaster in Texas further impacted the complex petrochemical network, causing significant disruptions,” a spokesperson for paint company Sherwin-Williams says. “Recovery has been significant in recent weeks and is improving—but is still far from complete. The pace at which capacity comes back online and supply becomes more robust remains uncertain.”
The paint shortages are happening at a time when new construction and remodeling projects are booming. Builders and contractors say they’re on waiting lists to receive more paint for their projects. Customers should expect a run-up in prices on paint until the shortages subside. Paint firms say that price increases could range from 6% to 40%.
Source:
©National Association of REALTORS®
Reprinted with permission
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