A survey of builders conducted by the NAHB revealed that 62 percent of builders report a low or very low supply of developed lots in their areas.
The percentage is the lowest recorded since NAHB began asking the question in 1997.
A shortage of buildable lots, especially in the most desirable locations, translates into higher prices.
Out of the 62 percent, 39 percent characterized the supply of lots as “low,” while another 23 percent said the supply was “very low.”
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