Construction delays continue to be a problem for apartment developers.
More than half (57%) of developer respondents reported construction delays in the jurisdictions where they operate, according to the fifth edition of the National Multifamily Housing Council (NMHC) Construction Survey.
Ninety percent of respondents said delays in permitting were due to COVID-19. That was the largest share to indicate delays since the inception of the survey in late March. In the first edition of the survey, 76% of respondents reported delays related to COVID.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
