November 22, 2024 1:18 pm
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Building permit delays choke U.S. housing supply, study shows

Screen Shot 2016-07-18 at 6.07.22 AMDevelopers respond less quickly with new units in metro areas with long waits

By Chris Kirkham | The Wall Street Journal

The supply of new housing in the U.S. isn’t keeping up with demand in part because of local delays in getting building permits approved, according to new research set to be released next week by real estate tracker Trulia.

The study finds that in metro areas with longer delays in building and zoning approvals, developers are less quick to respond with new housing units when prices are rising and demand is high.

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