The latest New Home Lot Supply report from Zonda says in Q1 2024 lot supply tightened year-over-year across the U.S. They say lot inventory was still categorized as “significantly undersupplied” in most markets and that the tightening trend year-over-year reflects the increase in construction activity over the last few quarters.
“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 a bottleneck for builders eager to expand their communities. This imbalance between available lots and the desire to start new construction persists, posing a challenge for the housing market.” Said Ali Wolf, chief economist at Zonda.
Click here to read the full report at Zonda.
