Andy Ryan/iStock/Getty Images Plus
Home Construction 5eb016febabab

NAHB Chairman Provides Industry Update

May 4, 2020
Builders are retaining most workers despite steep decline in confidence.

May 4, 2020National Association of Home Builders (NAHB) Chairman Dean Mon addressed the Federation in his May Chairman’s Update, answering the most frequently asked housing industry questions he has received since the beginning of the coronavirus outbreak. 

During his message, Mon said nearly 75 percent of NAHB members have not laid off or furloughed employees. 

"This is the time to keep our crews on the jobsite, to continue to fill the gap of our country's housing shortage, and to be a leading force for our economy out of this downturn," Mon said.

However, Mon reported that homebuilder confidence is down. He said the April NAHB Wells Fargo Builder Confidence Index dropped by 42 points to 30, the largest single-month decline in the history of the index. Additionally, 96 percent of professional remodelers surveyed reported lethargic activity in remodeling projects. 

Mon included information on additional challenges now facing the home building industry, including supply chain lethargy, supplies of masks, and communication related to social distancing.

Find Dean Mon's entire message HERE.