It’s almost the end of the year, and for you, a prospective pool buyer, investing in a pool for 2023 gives you so much excitement. However, with the continued changing prices of industries overall, you might not know what factors will impact the purchase of your pool.
A new pool can upgrade your backyard space and home for the whole family to enjoy. However, several variables can influence how much you will be paying to get the backyard oasis of your dreams.
At J Designs Pool and Spa, we have been in business for 14+ years and we don’t want you to give up on your dream pool. We have made it a mission of ours to inform our clients of the shifting factors that could affect the overall pricing of their pools.
By the end of this article, you will know the 3 factors that we predict will impact pool pricing in Los Angeles in 2023 including:
We will also let you know what you as a homeowner can do to stay ahead of the curve. That way, you can be better prepared and have peace of mind when it comes time to start your pool project.
Let’s dive in!
Since the start of COVID-19 about three years ago, the term “at home” has been synonymous with virtually every aspect of our lives, from work to entertainment.
Wanting to make their living spaces more enjoyable, a lot of homeowners wanted to install more recreational fixtures that they and their families could have fun with together. This led to a vast increase in demand for pool building.
Since 2019, changing ideas towards healthy living and recreational home enjoyment continue to drive up residential swimming pool construction. Who needs to travel to a gym, when you have your very own water gym in your backyard?
Also, a lot of people are now finding they have a little more money to spend. When you include certain financial boosts, such as COVID relief funds and money saved on gas commuting to a physical office, more homeowners are looking at what to do with the extra income. Why not build a pool?
So the demand for pools has remained at an all-time high with little to no indication that it will decrease anytime soon.
While this steady level of demand is a great boom for the pool industry, the current inflation still sees a continued rise in prices for material, labor, and construction. There are also shortages in labor and supply chains that are still very much a reality, as well as people staying home due to COVID.
The swimming pool construction market is expected to grow at a CAGR (or Compound Annual Growth Rate) of 3.30% between 2023 and 2028.1
Out of 1,000 pool professionals surveyed by Pool Magazine on April 1, 2022, 52.7% of pool builders surveyed said they have raised prices by 30-50% in the last two years as a result combination of inflation and other different factors.2
When it comes to the pool construction labor force, we are unfortunately still experiencing a shortage of available workers. This, going hand-in-hand with the increased demand for inground concrete pools, continues to be a concern within the industry.
As with most issues in the construction industry, labor shortage could be traced back to the start of COVID-19 when a large number of the labor force left their jobs because of illness or to be closer to their families.
Another contributing factor to the continued labor shortage is the increase in the minimum wage. While this increase also applies to the construction industry, it can be more demanding to work on installing pools in the hot sun than working in a nice air-conditioned grocery store.
So, because of this, employers are finding it a Herculean task to convince skilled laborers to return to work. So the construction labor force is at a constant deficit.
Labor costs are a very important factor in the pricing of your pool, and for employers within our industry to entice skilled workers to build pools, they need to increase their wages. In turn, this will increase the labor costs you would pay for having them install your pool.
As we all know, concrete pools can be the most beautiful and luxurious pools to build. They can also be the most expensive. That can all boil down to the raw materials and equipment used to keep your pool clean and functioning.
Composed of cement mixtures (gunite and shotcrete) and steel, concrete inground pools have seen a shortage in building materials. This has led to higher prices and a race between different construction companies to acquire what’s left to complete their projects.
The good news is, while we are still seeing an increase in the cost of raw materials (such as cement and steel), along with equipment, it will not be as high as we have seen in 2022. The increase will remain steady and homeowners should not see a significant spike in the cost.
One other factor that plays into the cost of raw materials and equipment used for pool installation is transportation.
With diesel fuel costs continuing to rise above $5/gallon, things are not expected to slow down (at least significantly) going into 2023. So, logistically, the shipping of those raw materials and equipment, which rely heavily on diesel fuel, will only keep increasing in price as the gas prices go up.
With pool construction companies paying a higher price for raw materials and equipment, along with their transportation, homeowners also see an increase in what they pay to have those raw materials installed for their pools and the equipment needed to clean and operate their pools.
We understand that keeping up with these pricing trends for your pool can feel overwhelming.
After all, prices can increase at any time and you don’t want to be caught on the wrong side of any issue that could delay or even halt the construction of your dream pool.
There are certain actions that you can take to stay up-to-date and informed about what factors could be affecting how much you could be paying for your inground pool.
1. Plan Ahead: When it comes to planning, it’s always best to start at the beginning of your pool building process, which is the design stage. Here, you can purchase your equipment and materials early on, avoiding any potential pricing increase. This wouldn’t apply to any add-on features that you decide to install at a later date.2. Stay Informed: When it comes to staying informed of pricing and what factors can contribute to it, be proactive. Conducting your research through verified pool industry sources can give you the information you need and help you become more familiar with the trends in our industry. We recommend using Watershape to search for accredited pool contractors near you.
3. Talk To a Professional: Speaking to verified pool professionals who have experience working and thriving in this constantly evolving market is perhaps the best way to stay on top of your project and your budget.
Also, remember, pricing is not the same everywhere and can vary from region to region. That range is usually based on the standard of living, weather conditions (concrete pools would not be as popular in the midwest as they are on the west coast), and demand for building materials, which is rising in Texas, the southeast, and Carolinas.
Keep these tips in mind and you will be entirely prepared for any eventuality when it comes to the pricing of your pool.
You’ve reached the end of this article and now you know the 3 factors that will impact Los Angeles pool pricing in 2023, as well as what you as a homeowner can do to stay ahead of the curve.
J Designs Pool and Spa has a team of Verified Watershape Professionals with 20+ years of experience building concrete pools and consulting clients on the shifting factors that could affect the overall pricing of their pools.
We encourage all potential pool buyers to speak with pool professionals about any matter regarding your backyard oasis.
Contact us to schedule a consultation if you want to speak with a member of our team further about any pricing predictions that can affect your pool in 2023.
Not ready to speak with us quite yet, but want to learn more on your own? Check out these related articles for further information:
3 Factors Impacting Pool Prices in 2022
Supply Shortages, Price Increases, and How This Affects You
Your Pool Building Is Delayed And Here Are 3 Reasons Why
1 United States Swimming Pool Construction Market Report and Forecast 2023-2028 - https://www.expertmarketresearch.com/reports/united-states-swimming-pool-construction-market
2 PoolMagazine.com - Get The Latest Pool News - https://www.poolmagazine.com/pool-news/pool-prices-are-going-up-again/
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