Outlook Webinar: COVID-19 Update – June 24

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.

What’s Changed:
  • Texas, Florida, Alabama, and Arkansas see drastic spikes in COVID-19 cases and hospitalization due to relaxed containment measures.
  • The housing market continues to experience significant shifts due to COVID: Existing home sales are down 26.6%, resale inventory is down 30% YOY and lending standards are back to 2014 levels.
  • The economy continues to rebound despite ~20M Americans still unemployed.
  • Builders are experiencing lower cancellations than most expected; Only 11% of builders reported an increase in cancellation week-over-week
  • Several trends in the Housing Market continue to emerge due to COVID: Builder web traffic is up 32% YOY,  and 39% of Builders report an increase to build cycle times and inventory continues to be down even in the new home space.

Register for the Next COVID-19 Housing Update