More than a year into the COVID-19 pandemic, a majority of multifamily developers are still experiencing construction delays as well as increases in construction material pricing, according to the National Multifamily Housing Council’s latest survey.
The organization released its sixth installment of its COVID-19 Construction Survey, which showed that 75 percent of respondents are facing construction delays in the markets they operate in. The report showed that 77 percent of those who experienced delays said the cause was permitting, while 75 percent reported a delay with starting construction.
Read more...Developers Face Construction Delays, Materials Scarcity: NMHC via Multi-Housing News Online
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