Boston Real Estate Investors Association

The number of available lots for new homes has decreased compared to the previous year.

Availability of Lots for New Homes Drops Year-Over-Year

According to the most recent New Home Lot Supply report from Zonda, in Q1 2024, there was a tightening of lot supply year-over-year across the U.S. The report notes that lot inventory remains “significantly undersupplied” in most markets, and this trend reflects the increased construction activity in recent quarters.

Ali Wolf, the chief economist at Zonda, mentioned that the limited availability of desirable land near major job centers is pushing new housing developments further into the suburbs. However, these outlying areas often lack the necessary infrastructure, creating challenges for builders looking to expand their communities. This imbalance between available lots and the demand for new construction poses a challenge for the housing market.

For more details, you can read the full report at Zonda’s website here: [link to Zonda report]. This drop in the availability of lots for new homes is a significant trend in the real estate market, as reported by Real Estate Investing Today.
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Availability of Lots for New Homes Drops Year-Over-Year

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