March 2025 CT

NAVIGATING UNCERTAINTY... from page 16.

Due to demand outpacing supply, asphalt shingle manufacturers have announced a 6-10 percent price increase taking effect in April. A sec ond increase is likely in the fall. There also may be limited color availability and shortages this year if demand remains high. Many customers ask why asphalt roofing costs have not dropped even as oil and gasoline prices have decreased recently, given that they are petro leum-based products. One factor is that improvements in the oil refining process have enabled producers to yield higher amounts of fuel products, leaving less byproduct available to create asphalt. In addition, the vast majority of asphalt is used in road projects, putting more price pressure on shingle producers because they represent a smaller piece of the overall asphalt market. SIDING Vinyl siding prices increased slightly heading into 2025, but there’s not expected to be much cost volatility through the rest of the year. A key component in vinyl siding — acrylo nitrile styrene acrylate, or ASA, made mainly of recycled materials — comes largely from Mexico, so prices could be impacted by potential U.S. tariffs imposed on that country. But even so, such increases would likely be margin al. In addition, PVC trim prices project to be relatively stable this year. LUMBER The most commonly used lumber in decking work for community associa

At Felsen Insurance Services, one size DOESN’T fit all. Using our experience and expertise we work with your property manager and board to design an insurance program based upon your community needs.

We canvas the marketplace to find the insurance company that fits YOU best .

Felsen Insurance Services, Inc. 3155 Route 10 Suite 103 Denville, NJ 07834

(973) 361-1901 www.felsen.com

CAI-NJ advises that for training, marketing or other purposes, all events may be recorded, videotaped and/or photographed. By attending a CAI-NJ event, the registrant(s) consents to the use of his/her image

by CAI-NJ and agrees to waive any claim for the use of his/her image, including without limitation, the appropriation of his/her image for commercial purposes or the invasion of his or her privacy.

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MARCH 2025