Currently Reading

How Is the Coronavirus Affecting the Housing Shortage?

Advertisement

How Is the Coronavirus Affecting the Housing Shortage?


April 6, 2020
Unfinished home building site with framed home awaiting completion
By Piman Khrutmuang

Before the coronavirus forced many Americans' daily routines to come to a screeching halt, the country was already experiencing a housing shortage. Now that home building is slowing down due to lower demand and some local construction bans, the inventory shortage is expected to deepen. However, one shining light in this is that many builders are reporting that their projects are delayed but not canceled. Once the pandemic subsidies, builders are hopeful that work will pick back up again. 

Before most Americans had even heard of the new coronavirus or COVID-19, the nation was suffering from a severe housing shortage. Builders couldn't put homes up fast enough to satisfy the hordes of eager buyers and renters. But the global pandemic and ensuing financial crisis have put home construction on ice, setting the stage for an even worse housing shortage when the economy recovers.

Construction is not considered an essential business in at least five states, including hard-hit New York and Washington. That means job sites have been forced to close as state orders supersede the U.S. Department of Homeland Security's guidance designating residential construction as an "essential infrastructure business."

Read More

 

Related Stories

Construction

Local Data Lists Jobsites as Top Spot for COVID-19 Outbreaks

Construction jobsites have appeared to be much safer against COVID-19, but a multitude of reports and data are saying otherwise. Construction Dive…

Custom Home Design

Custom Home Building Activity Lags Behind Overall Market

While single-family home construction continues to boom, custom home building lags behind. The National Association of Home Builders reports that…

Construction

First All-Women Built Home Breaks Ground in Utah

There’s a project like no other being built in Saratoga Springs, Utah, where everything from engineering to plumbing is being done solely by women…

Advertisement

More in Category




Advertisement

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.