This year’s Top 50 Builders were surveyed about the coronavirus pandemic — how it has affected their businesses and how they have responded.
This group has faced its challenges, particularly those in hard-hit states such as New York and Pennsylvania. Inconveniences such as permit delays have been common. However, many in this group have positive progress to report, leading them as a group to hold an overall positive outlook.
Permitting issues
From the beginning, builders expressed concerns about gaining permits to work. Fortunately, the vast majority were able to continue acquiring permits, with only 8% seeing halts in permitting for various reasons. A significant amount — 36% — did experience delays.
Impacts on staffing
A few of the Top 50 had to lay off staff or delay bringing on seasonal help. This was mostly seen in the Northeastern states that implemented temporary work stoppages. However, 29 of the 50 saw no impact — and six even expanded their staffs.
The supply chain
All but 13 of the 50 builders have experienced supply-chain issues. By far, the biggest hold-up has come from personal protective equipment, disinfecting products and supplies to facilitate social distancing. However, nearly one-third of these builders have experienced issues with materials and equipment.
Overall effects
The Top 50 Builders were asked how long they expect COVID-19 to affect their businesses. Toward the end of May, more than one-quarter said they hadn’t seen direct effects on their businesses, or that the impacts had already receded.
Regarding sales
In one of the most encouraging survey outcomes, a full 98% of Top 50 builders said leads have remained at least level with last year — with 86% saying leads even surpassed the same time last year.
Despite initial fears that anxiety-ridden clients would back out of their contracts, 94% saw less than 25% of their contracts canceled. Of the builders, 15 (30%) said all their contracts were kept; 32 (64%) said 1% to 25% of their contracts were canceled.
In another of the survey’s highlights, nearly 3/4 of these builders said that, so far, sales are at least as good as the same time last year. Nearly half are seeing year-over-year increases over 2019.
Two thirds of the Top 50 have used Zoom and other videoconferencing platforms to perform their design/sales meetings and otherwise communicate with clients.
Overall outlook
One of the most difficult things about this pandemic has been the number of unknowns. When asked what goals and projections they are planning toward, nearly three-quarters said they expect a year at least as successful as 2019.
When asked how long they expect the threat of COVID-19 to impact their businesses, nearly half said they believe business will increase until a vaccine has been developed and people feel completely safe in public spaces. Another 24% said they expect impacts until stay-at-home orders are lifted and/or economic conditions improve.
