Tag Archive for ‘housing’

Gain for Housing Share of GDP During 1Q20

During the first quarter. GDP growth posted its worst performance since the Great Recession, recording a -4.8% growth rate. However, housing’s share of gross domestic product (GDP) increased slightly to 14.9%. The home building and remodeling component – residential fixed investment – also increased slightly, rising to 3.3%. As the economy begins a recovery later in 2020, we expect housing… Read More ›

Virus Affecting Homeowners’ Willingness to Remodel

A recent NAHB survey shows the negative effect the coronavirus pandemic is having on the decision to remodel.  Over 90 percent of remodelers in the survey reported a slowdown in both the rate at which inquiries are coming in, and in the general willingness of homeowners to remodel at this time. This information was collected via a question added to… Read More ›

Some Cities Keep Construction Going via Virtual Inspections

By now, many cities have classified residential construction as an essential business: an activity allowed to continue during the coronavirus-induced shutdown.  This in itself may not be sufficient to keep construction going, however, and some jurisdictions have also started to allow virtual inspections as an attempted remedy. Data on these trends were collected recently through questions on the survey for… Read More ›

Builders Respond to Virus in a Variety of Ways

In a recent NAHB survey, the vast majority of builders said they were allowing non-construction employees to work from home, but they were also implementing several measures to allow them to continue selling homes during the coronavirus pandemic.   The most common of these is private showings of model homes, but online and drive-through closings are also being offered. This information… Read More ›

Housing Starts Decline in March amidst Virus Impacts

According to estimates from the Housing and Urban Development and Commerce Departments, single-family starts began an expected, virus-related decline in March. Construction activity is expected to fall as virus mitigation efforts result in increased unemployment, economic uncertainty and lost business activity. Despite a strong start for 2020 in January and February, the April NAHB/Wells Fargo HMI point to additional construction… Read More ›

Builder Confidence Posts Historic Decline

Reflecting the growing effects of the COVID-19 pandemic, builder confidence in the market for newly-built single-family homes plunged 42 points in April to 30, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The decline in April was the largest single monthly change in the history of the index and marks the lowest builder confidence… Read More ›

Virus Now Impacting Traffic for Nearly All Builders

In the third week of NAHB’s online poll, the coronavirus’s impact on traffic of prospective buyers has become almost ubiquitous.  A full 96 percent of respondents said the virus was having at least some adverse effect on traffic, and 72 percent characterized it as a major adverse effect. This result is based on 256 responses collected online between March 31… Read More ›