It's difficult to imagine a shortage of land, especially in an expanse like Kansas. It's one of those things that, until it directly affects you, you don't even see it as an impending issue. According to a recent survey of homebuilders across the country, it seems that lot shortages are becoming quite a problem for builders. Sixty-four percent of builders reported that the supply of lots in their markets was “low” or “very low,” marking the highest percentage of reported shortage since 1997! Due to this shortage, new homes are being built at a remarkably low rate of under 1.2 million a year. Compare that figure to 2005, where total housing starts were more than 2 million and only 53 percent of builders reported a shortage of lots. When building a custom home, finding a quality buildable lot preferably oversized or on acreage, can be even harder to come by with a lot shortage.
RSS Feed