Supply chain burden: Westchase estate agent warns of rising paint prices
TAMPA (WFLA) – Real estate agent seeing the impact of supply chain challenges on home construction and renovation contacted 8 On Your Side after finding out that a large paint retailer is tackling a surcharge supply chain.
“I find the colors to be very limited and the price of roofing supplies going up dramatically,” she said.
Even in one of the hottest housing markets in the country, Siftar said some buyers were starting to have doubts.
“What happens is that these buyers would generally be okay with doing some of these projects after they move in, they start to hesitate because they don’t want to live in a house that needs a lot of repairs and they are not able to remodel it in a timely manner, ”explained Siftar.
Siftar recently bought a new home in Westchase that was in need of a paint job.
It wasn’t until she returned from shopping Monday at a Sherwin-Williams store that she noticed the four percent “supply chain fee” on her receipt.
“I was really surprised that they actually split him up,” Siftar said. “I would have thought they would have added it to the actual price, but I know the prices have already gone up 10% from last year.”
In late September, Sherwin-Williams CEO John Morikis warned investors that commodity availability and price inflation had worsened.
“We continue to fight against these high costs with pricing actions in all of our activities,” said Morikis.
While Siftar is aware that shortages are pushing prices up, she said “adding this extra supplement to products that are already much more than last year just seems too much to me.”
A Sherwin-Williams spokesperson has yet to respond to an email asking why not just increase the retail price.
The four percent supply chain surcharge for the company remains in effect until December 31.