Inman Connect
Housing markets across the U.S. are booming with high demand and low inventory, and it’s sent land prices into a frenzy.
Land is a hot commodity right now, as the lack of homes for sale continues to push affordable housing out of reach for many first-time homebuyers and low-wage workers.
According to a report by the National Association of Realtors (NAR), the U.S. fell short of an estimated 5.5 million new units from 2001 to 2020 compared to 1968 to 2000. When the housing boom cemented last year, supply began severely underserving demand.
“When housing demand really accelerated in May, June and July of last year with historically low interest rates, the industry couldn’t simply turn on a dime and suddenly build 30 percent more than they were a quarter, or a year ago,” Robert Dietz, a chief economist at the National Association of Home Builders, told Inman.
Land Grab! The New Hot Spots Luring Home Developers and Buyers sfgate.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfgate.com Daily Mail and Mail on Sunday newspapers.
Black Country pubs with beer gardens opening on April 12
Not long to go now until you can enjoy a pint at the pub - weather permiiting
The video will auto-play soon8Cancel
Play now
Subscribe
When you subscribe we will use the information you provide to send you these newsletters. Your information will be used in accordance with ourPrivacy Notice.
Thank you for subscribingWe have more newslettersShow meSee ourprivacy notice
The moment you ve been waiting for when you can finally hold a cold pint glass in your hand is almost here as pub gardens are set to open on April 12.