June Lot Development Indicates Steady Single-Family Building To Come

Washington, DC, July 29, 2015—Land and lot development was up 21.5% year over year in June, so builders are expecting steady construction of single-family properties over the next 12 to 24 months, according to Builder Online.

June’s 9.8% increase in housing starts was largely driven by apartment construction, and single-family construction was basically flat, down 0.9%.

The publication reports that part of the reason for June’s sluggish single-family production was depletion of lot supplies in the most desirable locations.

Finished home inventory is at a 2.5 month supply and barely keeping up with demand.