Coronavirus Outbreak: What Businesses Need to Know
This post has been updated.
NAHB is closely monitoring the spread of COVID-19 (aka Coronavirus Disease 2019) to stay ahead of this rapidly evolving situation and keep members appropriately informed. On Feb. 28, the World Health Organization (WHO) upgraded the global risk from the new coronavirus to "very high."
NAHB will provide additional analysis of how this global health crisis could impact housing as more information becomes available. In the meantime, here is a brief economic analysis as well as resources to help businesses prepare their workplace.
Economic Analysis
NAHB Chief Economist Robert Dietz on the virus' economic impact:
“Markets dislike uncertainty, and uncertainty regarding the coronavirus is clearly reflected in recent stock market declines and reduced interest rates. In fact, the 10-year Treasury rate is below 1.2%, effectively at an all-time low. This means low mortgage rates and lower rates for builder and developer borrowing. Moreover, the Federal Reserve will be under pressure to apply some monetary policy stimulus soon.
“Taking a step back, financial conditions and underlying economic data remain positive for housing. In fact, home building led with positive news at the start of 2020 in terms of home construction and new home sales.
“NAHB will continue to monitor consumer confidence data to accurately gauge the economic impact on housing demand.”
Resources for Your Business
Organizations such as the Centers for Disease Control (CDC), the Occupational Safety and Health Administration (OSHA) and WHO have provided the following resources and guidelines regarding preparation for COVID-19 in the workplace:
- Getting your workplace ready for COVID-19 - WHO
- Interim Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019 (COVID-19) – CDC
- COVID-19 – OSHA
Resources for HBAs are also available on nahb.org. NAHB will continue to provide additional updates as needed.
Latest from NAHBNow
Jul 01, 2025
Use NAHB Resources to Protect Workers from Heat and UV ExposureAs NAHB celebrates UV Safety Awareness Month in July, it is important for home builders and general contractors to educate workers about the potential risks associated with UV radiation, and have plans and resources in place to keep them safe on the jobsite.
Jul 01, 2025
Senate Passes Tax Bill With Many Wins for NAHB MembersThe Senate today passed the One Big Beautiful Bill Act (H.R. 1) — sweeping tax and domestic policy legislation that includes several important housing and business provisions that will benefit small businesses, real estate and our members. Most notably, NAHB was able to secure key wins regarding state and local tax deductions for individuals and pass-through businesses.
Latest Economic News
Jul 01, 2025
May Private Residential Construction Spending DipsPrivate residential construction spending fell by 0.5% in May, marking the fifth straight month of decreases. This drop was primarily driven by reduced spending on single-family construction. Compared to a year ago, total spending was down 6.7%, as the housing sector continues to navigate the economic uncertainty stemming from ongoing tariff concerns and elevated mortgage rates.
Jul 01, 2025
Flat Job Openings for ConstructionThe count of open, unfilled positions in the construction industry held steady amid a slowdown for housing, per the May Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS).
Jun 30, 2025
2024 New Single-Family Starts by Census DivisionDespite persistently high mortgage rates, elevated financing costs for builders, and a shortage of buildable lots, single-family starts rebounded in 2024, following two straight years of declines.