Friday
October 31, 2014

Survey Reveals How Long it Takes to Build a Home

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Survey Reveals How Long it Takes 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.

To learn more about preparing buyers for the nuances of new-home construction, the Real Estate Buyer’s Agency Council will be launching a newly updated New-Home Construction and Buyer Representation Course during the 2013 REALTORS(R) Conference & Expo in San Francisco on Nov. 7.

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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