The COVID-19 pandemic is likely to hasten a housing trend already taking place across the nation--residential construction activity that is expanding at a more rapid rate in lower density markets such as smaller cities and rural areas.

As the industry observes National Homeownership Month in June, recent housing data indicate the important role the residential construction industry will play in leading the U.S. economic recovery from the coronavirus pandemic, according to the National Association of Home Builders.

Confidence in the market for new multifamily housing weakened significantly in the first quarter of 2020, according to results from the Multifamily Market Survey (MMS) released by the National Association of Home Builders (NAHB).

In a sign of the growing economic toll from the coronavirus pandemic, total housing starts decreased 30.2 percent in April to a seasonally adjusted annual rate of 891,000 units, according to a report from the U.S. Housing and Urban Development and Commerce Department.

Builder confidence in the market for newly-built single-family homes increased seven points to 37 in May, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI).

The National Green Building Standard ensures that homes are healthy, efficient, and sustainable, and is the most utilized third- party residential green building certification program in the United States.

Surging job losses in March stemming from the COVID-19 pandemic contributed to a decline in U.S. median income and housing affordability in the first quarter of 2020, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.  

Sales of newly built, single-family homes fell 15.4 percent to a seasonally adjusted annual rate of 627,000 units in March, coming off a downward revision in February, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

The decline in April was the largest single monthly change in the history of the index and marks the lowest builder confidence reading since June 2012.

The National Association of Home Builders (NAHB) is urging members, and all residential construction companies, to halt work for at least 10 minutes on Thursday, April 16, to educate workers on what they should do to keep themselves safe from coronavirus and to help "flatten the curve" for everyone.