In September, 2012 42 percent cited the shortage as a problem. As reported by the National Association of Realtors (NAR), “A shortage of buildable lots, especially in the most desirable locations, translates into higher prices, as 38 percent of homebuilders said the price of developed ‘A’ lots was somewhat higher than it was a year ago, and 32 percent said the price was substantially higher.”
In a related development, NAHB reports confidence among homebuilders about the state of the market fell from 56 to 54, but still above 50, which indicates they continue to feel positive about overall market conditions. ##
(Image credit: housingwire–available homebuilding lots fall)
