May 27, 2020

Housing Trends

Watch The Outlook Webinar: COVID-19 Update – May 27

This week during our Outlook Webinar: COVID-19 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.

Economic and industry updates include: 
  • The U.S. economy is entering recovery phase as states continue to relax containment measures.
  • Effects of COVID-19 continues to be felt in the housing market with existing home sales down 18% YOY and New Home Pending Sales Index (PSI) down 33% YOY.
  • Unemployment Rate is at a historic high with~ 39M Americans out of jobs; 50% of those impacted have incomes below $50K.
  • Mortgage rates are at a historic low resulting in mortgage applications rising well above last year’s numbers.
  • 62% of Builders reported week over week increases in contracts and they continue to feel the impact of COVID-19.
 
 
How can we help your business navigate COVID-19?

Ali Wolf

Chief Economist

Ali Wolf

Chief Economist


Tim Sullivan

Senior Managing Principal

Tim Sullivan

Senior Managing Principal


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