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
Lobbyists In Mission Valley Land Rush
By Matt Potter The controversial plan by a stealthy group of La Jolla money men known as FS Investors to replace city-owned Qualcomm Stadium with a soccer venue and high-end
Banning Ranch Set for Crucial Coastal Commission Hearing
The Banning Ranch project, on 401-acres in Newport Beach, will go before the California Coastal Commission on Wednesday, October 7. Already approved by the City of Newport Beach, the fate
Brandywine Homes Sells All 20 Residences at Lakehouse
Just five months after Brandywine Homes held a wildly successful grand opening at Lakehouse, a 20-unit community on 3.6 acres located at 2901 E. South Street in Anaheim, Calif., all
