Shortage of Lots Slows Housing Recovery

The latest survey from the National Association of Home Builders (NAHB) shows that one of the key factors holding back the recovery of the housing market is in fact a shortage of actual lots to be built on in desirable areas. Of the builders questioned for the NAHB/Wells Fargo Housing Market Index in August, 59 percent reported that the supply of lots in their market was low or very low. This is up from 43 percent of the builders questioned last September, and is, in fact, the largest percentage of low supply since the NAHB began asking in 1997.

 

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