Builders Report Coronavirus a ‘Major Impact’ on Buyer Traffic

Filed in Disaster Response, Economics by on March 26, 2020 1 Comment

A new, weekly survey of single-family home builders and other NAHB members confirmed the coronavirus is having a significantly adverse effect on their businesses. Among several key aspects, a drop in prospective buyer traffic was, by far, the most widespread issue caused by the illness.

Other top areas survey respondents noted as having been negatively impacted in either a major or minor way include:

  • Supply of N95 respirator face masks
  • Time to obtain a plan review
  • Supply of building products and materials
  • Amount buyers are willing to pay for a new home
  • Time it takes a local building department to respond to an inspection request
  • Willingness of workers and subs to report to a jobsite

For further details about the survey and its results, go to the Eye On Housing blog post.

You can access the latest NAHB news and business resources to respond to this challenge at the Coronavirus Preparedness and Response section on nahb.org.

Tags: , ,

Comments (1)

Trackback URL | Comments RSS Feed

  1. Mary Costandy says:

    Good afternoon. I am a homebuyer in California, buying a new home straight from the builder. We have come across very hard times due to the coronavirus crisis, the builder is currently insisting that if we cancel the transaction until things improve they will withhold our deposit. Is there anyway that we can get our deposit back through the new laws implemented to help those who are suffering through this crisis? We told them that the national Association of realtors had a new statement stating that if one or more parties wanted to cancel the transaction that Dave could get the deposit back without any fees associated with it, and the builder responding and saying that they were not part of the national Association of realtors and that they did not need to abide by that.
    Any help that you are able to offer us would be greatly appreciated. Thank you very much.

Leave a Reply

Your email address will not be published. Required fields are marked *