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Lots in Short Supply For Many Home Builders

WASHINGTON (MarketWatch) — Families buying new homes can expect prices to continue to rise, as builders say there’s a low supply of developed lots and that properties suitable for new housing have become more expensive.

Builders will pass along 100% of increased lot costs to homebuyers, said David Crowe, chief economist at the National Association of Home Builders.

“Builders price homes based on what they are going to have to pay for all the ingredients. If they are starting to pay more for lots, they are going to have to pass that on right away,” he said.

About Liz Lichtenberger

Liz is the special projects editor for Hardware Retailing magazine. She reports on news and trends, visits retailers, and attends industry events. She graduated from Xavier University, where she earned a degree in English and Spanish and was a member of the swim team. Liz is a Louisville, Kentucky, native who lives in Indianapolis with her husband and two children. She enjoys swimming, reading, doing home improvement projects around her house and cheering on her two favorite basketball teams, the Kentucky Wildcats and the Xavier Musketeers.

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