U.S. Construction Times Continue Upward Trend
Continuing the upward trend from the past seven years, the average length of time for multi-family construction in the U.S. as the end of 2019 was 17.3 months, says the National Association of Home Builders (NAHB). This trend results from regulatory challenges and the skilled labour shortage, it says. For buildings with 20 units or more, it took 19 months to complete from the date of authorization. Buildings with 10 to 19 units took 18.7 months, five- to nine-unit building construction took 16.6 months, and two- to four-unit construction finished in an average of 14.3 months. These times range depending on the region, with the northeast taking the longest and mid-west the shortest.