According to Principia Consulting’s ongoing COVID-19 analysis, 88% of the $410 billion in residential new construction spending originally planned for 2020 is still projected to occur if social distancing guidelines last for 75 days.
The company says that projecting the impact of COVID-19 on new construction involves a good deal of uncertainty. For one thing, there’s no way to know the duration of governmental restrictions, There’s also varying degrees of impact of these restrictions on the ground. “Measuring the impact of the crisis accurately may take weeks or months depending in when data is released,” Principia said.