Thursday, October 31, 2013

How Long Does it Take to Build a Home?

On average, it takes 7 months to build a new home from scratch, which includes obtaining the building permit, according to the 2012 Survey of Construction from the Census Bureau.

Homes that are built for sale take the shortest amount of time, averaging between 5 and 6 months.

Meanwhile, houses where the owners have the land take the longest — about 8 months if built by a contractor, but more than 11 months if they are owner-built, according to the Census.

The wait can be considerably longer, depending on the region of the country too, the data shows. For example, New England and Middle Atlantic regions have some of the longest lag times with new-home construction, averaging between 9 and 10 months. On the other hand, builders in the East South Central Division complete homes, on average, in 7 months.

Source: “How Long Does It Take to Build a House?” National Association of Home Builders’ Eye on Housing (October 2013) and REALTOR® Magazine Daily News

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