Sometimes builds take longer than expected. There are a few environment variables you can set to better understand what's happening during the build process.
METEOR_DEBUG_BUILD=1       (logs progress)
METEOR_PROFILE=<n>         (logs time spent)
METEOR_DEBUG_SPRINGBOARD=1 (?)
METEOR_DEBUG_SQL=1         (logs SQLITE calls)
METEOR_PROGRESS_DEBUG=1    (? looks like it might be useful, but seems confusing)
Where <n> is a number of ms. Any process taking longer than this will be logged.
export METEOR_DEBUG_BUILD=1
export METEOR_PROFILE=100
meteor
set METEOR_DEBUG_BUILD=1
set METEOR_PROFILE=100
meteor