Multifamily Construction Experiencing Delays, says Survey
The survey, conducted between March 27 to April 1, is the first of a series intended to gauge the magnitude of the disruption caused by the COVID-19 outbreak on multifamily construction. In addition to finding a majority are experiencing delays, it most notably determined that:
- Of the 55 percent experiencing delays, 76 percent are dealing with delays in permitting and 59 percent in starts;
- About a quarter (24 percent) of respondents said a lack of materials is affecting their construction operations; and,
- 41 percent of respondents indicated that COVID-19 outbreak-related labor constraints are affecting construction operations.
The NMHC Construction Survey also found that 73 percent of construction firm respondents indicated that they have implemented new strategies to deal with the hurdles forming in the virus’s wake such as sourcing materials from alternative locations (43 percent), staggering shifts to reduce on-site exposure (52 percent) and using technology to replace in-person transactions like inspections and approvals (67 percent).
To view the full results of this survey click here.
NMHC will conduct this survey on a bi-weekly basis for the foreseeable future to continue to provide an estimation of the impact of COVID-19 on multifamily construction.