Market Update: Sealcoating in the Southeast

Because I'm lucky enough to talk virtually every day with contractors from throughout the country I get regular insights into what's going on in the markets. Since the season is starting to warm up I thought I'd pass along this note from a contractor friend in the southeastern U.S. "Our season is beginning this week. We are running between 2 and 3 weeks out. People seem to be hesitant to spend money here...We are getting more work in, and doing a good amount of bids, but prices are severely under pressure because the other contractors don't have much work to do. We were getting $.13 - $.14 per ft. on driveway work, that is now at $.11, and we are getting beat by other guys doing it for $.08. I am hoping it is a short term trend, but am concerned that if it goes on for a long period of time, it will become the new norm." I'll continue with updates as I receive them.