Low Lot Supply an Issue for Builders
62% of builders reported that there was a shortage of developed lots in the markets in which they operate according to a National Association of Home Builders survey conducted in May. This is the largest percentage ever recorded since the NAHB started asking the question in 1997. The problem appears especially acute in “A” markets, and the low lot inventory has resulted in increases in land prices and has contributed to low housing production levels.
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