2021: Growing Construction Delays, Higher Costs in Multifamily Construction

According to a survey of Multifamily Developers conducted in March of 2021 by the National Multifamily Housing Council, – a record 75% of the sector is experiencing major construction delays.

Of this group, 77% reported delays in permitting due to COVID-19, and a solid three quarters still reporting delayed starts one year into the pandemic. The main reasons cited for delays in starts were permitting, entitlement, and professional services (72%).