As materials and labor shortages continue apace, homebuilders are confronting a new challenge: finding lots on which to build.
A recent survey from the National Association of Home Builders shows that 76% of builders rated the overall supply of developed lots in their regions as low to very low—an all-time record since NAHB began collecting the data in the 1990s. The prior record was 65% in 2018.
Around 46% of single-family builders said the lot supply in their areas was simply low, and 30% said it was very low. Since 2013, the survey has also asked builders to rate the supply of A, B and C lots in the areas where they build, and keeping with prior trends, shortages were most significant for "A" lots.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
