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More Multifamily Developers Delay Projects That Are No Longer Economically Feasible

Q2 survey shows builders stockpiling materials to avoid repricing.

By Jack Rogers | July 07, 2022 at 07:50 AM

Nearly all of the apartment developers who responded to the National Multifamily Housing Council’s Q2 2022 survey of apartment construction and development activity, conducted from June 6 to 23, said they’ve experienced delays during the second quarter.

While most respondents cited permitting and materials sourcing/delivery as primary factors for delays in new construction, the percentage of respondents who said they were delaying new starts because the projects are no longer economically feasible surged to 38%—a 20% increase over NMHC’s Q1 2022 construction survey.

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