Multi-Family Construction Still Hampered by COVID-19 Related Delays
The National Multifamily Housing Council (NMHC) released the results of its fourth in a series of multi-family surveys that asked construction firms about changing marketing conditions due to the COVID-19 pandemic. The survey found that 57% were experiencing construction delay and 83% of those firms noted permitting as the biggest struggle.
The survey, which included 61 firms between July 6-15, found conditions similar to the three previous COVID surveys in March, April and May. Of those surveyed, 36% reported being affected by a lack of materials, the highest level reported to date. Cabinets and countertops shortages were cited by 36% of respondents. Respondents totaling 18% noted closed facilities in the U.S. and abroad as adding to supply chain problems, leading them to source more regional materials. Similarly, 18% encountered rising material costs, compared to 17% and 5% in the last two surveys. See NMHC