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.

More than 80% of the respondents to the quarterly survey of developers and construction firms said their deals for materials have been repriced up over the past three months. Most said that labor costs have increased, with 40% saying the cost of labor has increased more than they expected.