Report: Roof Repair Costs at $31 Billion in 2024
WRE NEWS April 9, 2025
Buyer
WRE NEWS April 9, 2025
Buyer
Roof repair and replacement cost value totaled nearly $31 billion in 2024, according to the US Roofing Realities Trend Report published by Verisk (NASDAQ: VRSK). This is a nearly 30% surge since 2022.
Roof related line items made up more than one-quarter of all residential claim value last year, with wind and hail accounting for more than half of all residential claims. Since 2022, non-catastrophic wind/hail roof claims increased from 17% to 25%.
Verisk determined that 38% of residential homes have roofs with moderate to poor condition, with the eastern part of the country having more roof issues due to greater weather variability. For example, in hail-prone states the average roof lifespan is 15 years, compared to 22 years in western states with less severe weather like Nevada, Arizona and Utah.
Stay up to date on the latest real estate trends.
Lifestyle
April 17, 2025
While newfangled names for parenting styles, from tiger to panda, tend to conjure images of an unruly zoo, most are just trendy spins on one of four basic styles that … Read more
Lifestyle
April 17, 2025
Of all the popular diets out there getting attention for health benefits, there is one that consistently gets big points.
Buyer
April 17, 2025
Lately, it feels like a lot of people have been asking the same question: “Is the housing market about to crash?”
Lifestyle
April 16, 2025
The scientifically-backed lifestyle habits to help you live healthier for longer have stayed pretty consistent for a while now: exercising, getting sufficient sleep, l… Read more
Lifestyle
April 16, 2025
Hard conversations are a given for any leader at work.
Lifestyle
April 15, 2025
Between stocks causing panic about financial security, disease outbreaks looming in the background, and return-to-work mandates pushing people back into the office, Am… Read more
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today