Posted To: MND NewsWire

New home building, which only recently and belatedly caught fire, is already feeling the effect of the COVID-19 virus response. The National Association of Home Builder (NAHB) recently did a quick on-line survey of its members and 81 percent said they had noticed a slowdown in buyer traffic. The survey was conducted between March 18 and March 23. It was a small sample, 308 responses, but more than half came from single-family builders and more than two-thirds were from company owners or CEOs. The survey listed seven possible impacts of the coronavirus and asked if each has so far had a major, minor, or no adverse effect on respondents’ businesses. Forty-six percent of builders cited a major downturn in buyer traffic and 35 percent said there was a minor reduction. Other adverse impacts were…(read more)

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Source: Mortgage News Daily