NAHB Finds Builders Are Running Out of Lots -- What Now?
Homebuilders have struggled throughout the pandemic to find enough labor and materials to continue to put houses together for a market that simply can't get enough, but now there's a new twist to their Herculean efforts: a lack of building lots. According to the 2021 National Association of Home Builders/Wells Fargo Housing Market Index (HMI), 76% of builders have noted that the supply of lots in their area is problematic.
Of those surveyed, 46% responded that lot availability is "low," and 30% reported that the supply was "very low." It's a problem across all lot classes, with 74% reporting a low availability of Class A lots, 67% reporting a low availability of Class B lots, and 57% reporting a low availability of Class C lots. It takes all kinds to make the world go 'round.
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Source Fool.com
