Recent COVID-19 Surge Clouds Business Outlook

A surge in new COVID-19 cases across the South and Southwest signal the possibility of renewed business closures, Marcus & Millichap predicts in a new research brief.

Those closures, despite June business reopenings that supported record hiring or rehiring, cloud July’s job outlook, especially in Texas, Florida, and Arizona, the national real estate sales and financing firm’s monthly briefing predicts.

The dramatic rise in COVID cases — especially in Texas, Florida and Arizona — is forcing businesses with a large public component either to pause reopenings or close again, especially bars and gyms, according to the Los Angeles-based firm.