True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

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CoronavirusReal Estate

Homebuilders: An essential business that “backstops the economy”

Essential workers keep housing market rolling

As the housing industry adapts to navigate COVID-19, there is one sector that is mostly carrying on with business as usual. Even as states are locking down and ordering residents to stay at home, homebuilders are continuing to work. That’s because every state except Pennsylvania and Washington has declared homebuilders essential workers, according to the National Association of Home Builders CEO Jerry Howard. 

According to Howard, homebuilders are going to propel the economy forward after the coronavirus recession. “If you keep our demands moving forward, you will keep other sectors engaged, and hopefully help get them through this downtime,” Howard explained. 

But that isn’t the only reason why homebuilders need to keep working.

Homebuilders are essential workers

Unlike other members of the housing industry that have flexed their remote capabilities in the past weeks, builders, for obvious reasons, don’t have this opportunity and remain working on site.

“Because of the nature of our business, it’s very easy to comply with the safety standards,” Howard said. “It’s easy to have fewer than 10 people on a job site. It’s easy to keep those people who are onsite six-feet apart.”

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