Update on Lot Availability and Construction Lending
Abstract: "Location, location, location" is a truism associated with residential real estate. What we're hearing from our construction contacts could be another sort of truism: "Labor, lumber, lots." They are referring to the ongoing tight labor market in the construction trades, the skyrocketing price of lumber, and the difficulty of obtaining lots on which to build. While it's true that housing sector fundamentals—employment growth, household formation, tight inventory—continue to support an optimistic outlook, our industry contacts continue to report challenges regarding the supply chain. This post will focus on lots in the Southeast.
Keywords: Housing Demand;
Description: Full Text
Provider: Federal Reserve Bank of Atlanta
Source: Real Estate Research
Publication Date: 2020-04-05