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NMHC: Multifamily Developers Report Ongoing Delays Due to COVID-19
More than half of multifamily developer respondents reported construction delays in the areas they operate, according to the fourth edition of the National Multifamily Housing Council (NMHC) COVID-19 Construction Survey.
Of the 57% of respondents reporting delays, 83% highlighted permitting due to COVID-19 as being the source of delays. Respondents to the survey reporting construction delays also indicated a significant pause in starts, with 71 percent reporting delays.
Additional findings of the survey included a majority of respondents reporting pausing at least one construction project since mid-March as well as 36% of respondents reporting being impacted by a lack of materials, the highest share recorded since NMHC began conducting the survey in late March. Additionally, even though the majority of respondents have not been impacted by availability of labor, the share of respondents that indicated they are facing labor constraints increased 14 percentage points during this round of the survey, from 25 percent to 39 percent.
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