As construction activity across the country has ramped up, the average amount of time to complete construction of an apartment building, from permit to completion, increased to 14 months in 2015, roughly one month longer than the previous year. However, the data, from the Census Bureau’s Survey of Construction, also showed the timeline varied with the number of units in the building as well as by region, with construction in the Northeast taking the longest.
On a related note, a new Washington Post article also looked at how building permit delays can influence housing elasticity on a metro level, ultimately undermining affordability in expensive cities.
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