Construction Market Remains Challenging for Multifamily Industry

Significant market headwinds—including delays in construction, a lack of financing options, and economic infeasibility of projects—continue to hamper multifamily developers.

Delays are still prevalent for developers. According to the National Multifamily Housing Council (NMHC) Construction Survey in December, 84% of respondents reported construction delays; however, that figure is slightly improved from the prior two quarters. Of those who reported delays, 81% cited delays in permitting and 92% noted start delays.

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