Land Shortage Impeding New Home Supply
In a May survey by the National Association of Homebuilders, 60% of respondents stated that the overall supply of developed lots was low to very low, the highest percentage since the NAHB began asking the question in 1997. The shortage is especially acute for Class A lots located in core markets. John Burns with John Burns Real Estates Consulting contends that, with the low supply of lots and the expensive price of choice parcels, builders have been forced to build larger, more expensive homes which explains the shortage of entry-level supply. With current land prices and entry-level price points, catering to this segment of the market remains economically unfeasible.
About author
You might also like
Top 50 Master-Planned Communities of 2016
John Burns Real Estate Consulting LLC congratulates the top 50 master-planned communities (MPCs) in the country on their strong new home sales in 2016 with their annual ranking report co-authored
Top-Selling Master-Planned Communities: Preview
RCLCO’s Master-Planned Community Survey is the longest running in the industry, and as such benefits from our unique and exhaustive historical perspective. Every year since 1994, RCLCO has conducted a
WD Land on Land Brokerage
Sal Provenza and Curt Crandall, partners at WD Land, a land brokerage firm based out of Irvine, discuss the business of land brokerage. According to Provenza and Crandall, among the
