How Are Builders Being Affected by the Coronavirus?
Buying a home during a global pandemic may not be the best timing, and buyer traffic is reflecting that uncertainty: 81 percent of respondents said that the coronavirus has had an adverse effect on homebuyer demand, according to an NAHB online survey. A total of 46 percent of respondents said that prospective buyer traffic is impacted to a major extent, while 36 percent said it has been to a minor degree. More than 300 responses flooded in between March 18 and March 23, with two-thirds of them identifying as the owner, president, or CEO of their companies. Find out what other challenges builders are facing in the full survey.
In a survey conducted by NAHB online in recent days, 81 percent of respondents said the coronavirus has had an adverse effect on traffic of prospective buyers. The survey, which was publicized in various internal NAHB communications and social media, collected 308 responses between March 18 and March 23. The largest share of responses (51 percent) came from single-family home builders. Two-thirds of the respondents were the owner, president or CEO of their companies.