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Coronavirus, rising unemployment push homebuilding outlook to negative

from For Construction Pros

Moody's Investor Service's latest outlook for U.S. homebuilding has taken a negative turn based on the economic slowdown due to the coronavirus and rising unemployment. The negative outlook reflects Moody's expectations for fundamental building conditions in the industry over the next 12 to 18 months. "Our negative outlook for US homebuilding reflects the expectation of a slowdown in home sales during the coronavirus outbreak," according to the latest report. "Homebuilders' 2020 results will be dampened by a meaningful slowdown in home selling during the second quarter 2020, with an improved, but still weaker environment, in Q3 and Q4 2020 — compared to 2019." more

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