New Home Lot Inventory Modestly Climbs Again, Zonda Reports
NEWPORT BEACH, Calif., Nov. 8, 2023 /PRNewswire-PRWeb/ -- Today, the experts at Zonda, the housing industry's foremost advisors, released the New Home Lot Supply Index (LSI) for 3Q23. The New Home LSI, backed by data from Zonda, shows lot supply loosened year-over-year across the United States. The index is a residential real estate indicator based on the number of single-family vacant developed lots and the rate at which those lots are absorbed.
- The New Home LSI, backed by data from Zonda, shows lot supply loosened year-over-year across the United States.
- Lot inventory is still categorized as "significantly undersupplied" in most markets, but the loosening trend is broad based.
- The stages range from raw land through streets in, which is the last step before the lot becomes a vacant developed lot.
- It is necessary to monitor residential lot supply to understand how new home markets may be impacted by the incoming pipeline.