Sunday, August 7, 2016

Low Supply Lifts Housing Lot Prices To a Record

A house under construction in Louisville, Ky. Median single-family lot prices were $45,000 last year, surpassing the previous peak of $43,000 at the height of the housing boom in 2006.

The prices home builders pay for single-family lots hit a record high in the U.S. last year, a sign that a scarce supply of developed land is pushing up the cost of new homes.
Median single-family lot prices were $45,000 last year, surpassing the previous peak of $43,000 at the height of the housing boom in 2006, according to an analysis of the most recent census data by the National Association of Home Builders.
Read more...Low Supply Lifts Housing Lot Prices To a Record - WSJ

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