Persistent construction and permitting delays along with additional project requirements being imposed by local governments have put a damper on apartment development, according to the National Multifamily Housing Council's quarterly construction survey of members in June. The survey also showed that 17% of respondents reported construction labor to be less available than three months ago, up from 10% in March.
The results mostly are a continuation of what has plagued developers in the past year but with varying degrees.
During the past three months, 90% of respondents reported experiencing construction delays reversing a recent downward trend (79% in March, down from 84% in December and 90% in September).
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