Survey: Tell Us How COVID-19 Is Impacting the Multifamily Industry

Filed in Disaster Response, Economics, Multifamily by on May 11, 2020 5 Comments

checklistNAHB would like to understand how COVID-19 continues to impact business for multifamily builders and developers. Responses will help NAHB advocate for policy changes to keep the housing sector running with as little disruption as possible during this difficult time.

The latest survey, which will run from May 11-17, is available here.

April’s survey results indicated that the most widespread problems related to the coronavirus pandemic among multifamily developers were:

  • Supply of N95 respirator face masks (86% of respondents);
  • Traffic of prospective buyers/renters (85%); and
  • Costs related to renters’ health and safety (82%).

Rent collection has also been a source of concern. As of the close of the last survey on April 9, respondents noted on average that 18% of tenants missed their last payment. That average was higher (24%) among members of the Affordable Housing Group. As unemployment continues to increase, May will likely be a more telling indicator of the effects of coronavirus on this component of the market.

To see NAHB’s most recent COVID-19 advocacy efforts surrounding the multifamily industry, visit nahb.org.

Comments (5)

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  1. Our construction business focuses on the interior remodeling of owners units in Condominiums. We find that rather than completely shut this industry specialty down,. there are easy to meet protocols in regards to access to private units. From the time the subcontractors parks their vehicles and enter the building through service areas, to the time subs enter the private unit under construction, most condominiums today offer exclusive access and routes through service areas, where builders and residents never need to meet in or share common areas.

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