Pool Prices Are on the Rise…Again
If you have been waiting for pool prices to go down to get your dream swimming pool, you might have to wait a little longer. Recent predictions by analysts show that pool prices are likely to continue going up because of the increase in the cost of materials, labor, and equipment.
This isn’t to say that you should consider shelving your dreams of becoming a pool owner. Quite the opposite, in fact. While pool prices are increasing, now would be the time to make the commitment to avoid the predicted continued rise in costs.
If you have been waiting for pool prices to go down to get your dream swimming pool, you might have to wait a little longer. Recent predictions by analysts show that pool prices are likely to continue going up because of the increase in the cost of materials, labor, and equipment.
This isn’t to say that you should consider shelving your dreams of becoming a pool owner. Quite the opposite, in fact. While pool prices are increasing, now would be the time to make the commitment to avoid the predicted continued rise in costs.
Pool construction materials price increases
Here is a breakdown of the primary pool construction materials price increase as provided by the Associated General Contractors of America (AGC).
- Steel mill products: Up by 74.4% since the beginning of 2021
- Concrete products: Up by 10% since the start of 2021
- Plastic construction products: Up by 35.6% since the beginning of 2021
- Precast concrete products: Up by 12.7% since the start of 2021
Why is the price of pools moving toward the higher end?
So, why is the price of swimming pools high…again? There are several factors behind the increase in the price of swimming pools. Some of these include:
1. Increased demand
Over the past few years, people have been forced to spend a lot of time confined in their homes following the start of the Covid pandemic. Within this period, most people learned to appreciate the value of backyard pools and investing in their homes as a source of “staycation.” With many homeowners investing in their backyards, it caused an increased demand for pools and pool products. The simple law of economics shows that higher demand for a product causes an increase in its price.
2. Supply shortages
As a result of the pandemic, there has been a supply shortage due to disrupted shipping resulting from closed borders, especially for imported products such as concrete, galvanized steel and metal, PVC plastic, etc.
Also, in August 2020, one of North America’s largest chlorine manufacturing plants was destroyed by fire during Hurricane Laura, leading to a chlorine shortage in the country. The supply shortage brought along increased prices which explain the huge increases in pool prices.
Your Tampa Bay Pool Builders
Understanding the state of the industry isn’t meant to scare anyone off from making their backyard dreams come true. The reality is we’re in a time where the cost of living is going to see a continued uptick for quite some time. There are many financing options available to ensure you are able to build your pool without having to wait for when prices will fall, if at all.
Give the pool building experts at Tampa Bay Pools a call today to learn more about how we can help bring your vision to life.
About Tampa Bay Pools
Tampa Bay Pools is a custom pool builder serving Tampa Bay, Brandon, Riverview, Lithia, Valrico, Odessa, Lutz, Plant City, Seffner, and the surrounding areas, that understands the importance and value of your own backyard escape. That’s why we build spectacular new inground swimming pools that are easy to maintain.
We offer a wide variety of custom projects including residential or commercial swimming pool building, stunning custom features to customize your pool, outdoor enclosures for your backyard oasis, and custom spas.
Our pools can be designed to fit any style or budget; we even offer swimming pool financing options.