Archinect - News2024-12-23T18:15:12-05:00https://archinect.com/news/article/150448614/multifamily-projects-took-19-9-months-on-average-to-complete-in-2023
Multifamily projects took 19.9 months on average to complete in 2023 Josh Niland2024-09-30T18:50:00-04:00>2024-10-01T17:01:08-04:00
<img src="https://archinect.gumlet.io/uploads/69/69c7a91285b833b344d28da2b0af5cc0.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p>A <a href="https://eyeonhousing.org/2024/09/apartment-construction-time-averaged-20-months-in-2023/" target="_blank">new report</a> from the National Association of Home Builders has shown the average length of time it takes to complete construction of a multifamily dwelling was 19.9 months in 2023. </p>
<p>The NAHB findings draw from the 2023 Survey of Construction (SOC) from the U.S. Census Bureau, which also notes that buildings of more than 20 units took a longer (22 months) time on average to complete. (Projects of the same size took an average of 19 months to complete before the pandemic.)</p>
<p>Some potential factors could be lagging supply chain issues and lack of <a href="https://archinect.com/news/article/150364655/demand-for-construction-workers-remains-high-as-overall-u-s-labor-demand-dips" target="_blank">construction labor</a> nationwide. According to data from the latest <a href="https://www.census.gov/construction/nrc/current/index.html" target="_blank">Census Bureau report</a> on the housing market, "Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,788,000."</p>
<p>The reporting can be compared to the latest Dodge Construction Network construction starts data <a href="https://archinect.com/news/article/150447822/construction-starts-rise-6-in-august-san-francisco-international-airport-t3-expansion-leads-with-the-highest-project-value" target="_blank">here</a>.</p>
https://archinect.com/news/article/75578734/housing-market-index-goes-above-50-for-the-first-time-in-seven-years
Housing Market Index goes above 50 for the first time in seven years Archinect2013-06-19T12:43:00-04:00>2013-06-20T17:02:51-04:00
<img src="https://archinect.gumlet.io/uploads/g7/g7wd2zsrqe6f8dg6.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>Builder confidence in the market for newly-built single-family homes hit a significant milestone in June, surging eight points to a reading of 52 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Any reading over 50 indicates that more builders view sales conditions as good than poor.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd">
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