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Shortage of Lots Will Drive New-Home Prices Even Higher

New-home construction

Are you trying to choose between buying an existing home or a newly constructed one? Look for new-home prices to jump dramatically in the coming months, as homebuilders face a shortage of suitable lots.

USA Today reported this week that a Southern California firm, John Burns Real Estate Consulting, analyzed 27 leading markets and found that the average price of a “finished lot” suitable for building was up 40 percent in the second quarter compared with a year ago.

To read the full report, Click Here.


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