By Na Zhao | RISMEDIA, Tuesday, August 18, 2015
The 2014 Survey of Construction (SOC) from the Census Bureau shows that the average completion time of a single-family house is around 7 months, which usually includes around 25 days from authorization to start and another 6 months to finish the construction. The timeline from authorization to completion, however, is not consistent across the nation, depending on the housing category, the geographic location, and metropolitan status.
Among all the single-family houses completed in 2014, houses built for sale took the shortest time, 6 months to completion after obtaining building permits, while houses built by owners required the longest time, 11.5 months. Single-family homes built by hired contractors had around 8 months from permit to completion, and homes built for rent normally needed between 9 and 10 months. Compared to a prior 2012 analysis, the average permit-to-completion timespan of single-family houses built for sale and for rent was one month longer in 2014.
A large proportion of single-family homes built for sale and on owners’ land built by either owners or contractors began construction within the same month after obtaining building authorizations. However, homes built for rent typically had a one-month lag between permits and construction start in 2014.
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