The average apartment took 19.6 months to complete in 2024, about 0.3 months less than the previous year, according to the National Association of Home Builders. While larger projects still face long build times, smaller multifamily developments — especially those with two to four units — saw quicker completions thanks to improved labor efficiency. Analysts say increased suburban construction could further shorten timelines in coming years.
Source: https://www.multifamilydive.com/news/multifamily-development-construction-timeline-labor/802746/
