Outlook Webinar: COVID-19 Update – July 22

OVERVIEW

This week during our Outlook Webinar: COVID-19 Housing Update – The Housing Market, Senior Managing Principal Tim Sullivan, and Chief Economist Ali Wolf provide real-time updates on how the coronavirus pandemic continues to impact our economy and the residential construction industry.

  • Early vaccine trials show positive results, with the potential of a vaccine ready to deploy at scale in the first half of 2021.  
  • The economy continues to experience significant shifts due to COVID: TSA travel is off -78% YOY,  total spending is down 12% YOY, and small businesses are being hit the hardest.   
  • 17.3M Americans are still receiving unemployment benefits with ~1M initial jobless claims being reported WOW. 
  • Purchase applications are up 19% YOY as a result of mortgage rates being at an all-time low.
  • Builders are performing well despite challenges from COVID: 49% of Builders report improving contract volume, 40% report MOM increase in sales, and 61% increased prices.

Register for the Next COVID-19 Housing Update