Monday, September 21, 2020

Time Needed to Complete a New Home Start Continues to Grow Longer

The 2019 Survey of Construction (SOC) from the Census Bureau shows that the average completion time of a single-family house is around 8.1 months, which usually includes a little over a month from authorization to start and another 7 months to finish the construction. 

The average time to build a single-family home has been on an upward trend since 2014 when it took around 7 months. The time from authorization to completion varies across the nation and depends on the geographic location, and whether the house is built for sale or custom-built.

Among all single-family houses completed in 2019, houses built for sale took the shortest amount of time, 7.0 months from obtaining building permits to completion, while houses built by owners (custom builds) required the longest time, 13.5 months. Homes built by hired contractors normally needed around 9.8 months, and homes built-for-rent took about 12 months from authorization to completion.

CLICK HERE to read the entire NAHB article 

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