Not a lot of lots for builders

vacant lotREALTORMag

Shortages of buildable lots reached a new record low in May, according to a survey of homebuilders within the National Association of Home Builders/Wells Fargo Housing Market Index. Sixty-four percent of builders reported that the supply of lots in their markets was “low” or “very low,” marking the highest percentage of reported shortage since NAHB began collecting such data in 1997.

The lot shortage may be part of the reason why new homes are being built at a rate of under 1.2 million a year. In 2005, when only 53 percent of builders reported a shortage of lots, total housing starts were more than 2 million.

Continued:

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

May 2016
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031