300,000-plus listed lots highlight infill boon for builders, per Zillow
Zillow data shows 300,000 listed empty lots could cut the U.S. housing shortage by 6.3%, highlighting scattered-lot opportunities.
The recent Zillow data revealing over 300,000 listed empty lots in the U.S. has significant implications for the real estate and construction industries. This number represents a substantial opportunity for builders to capitalize on infill development, helping to alleviate the country's housing shortage. With the U.S. facing a well-documented shortage of available homes, the existence of these lots could provide a much-needed boost to housing supply.
Infill development, which involves building on underutilized or vacant parcels within existing urban areas, has long been touted as a key strategy for addressing housing affordability and availability issues. By focusing on these scattered lots, builders can create new housing units in areas with existing infrastructure, such as roads, utilities, and community amenities. This approach not only helps to increase the housing supply but also promotes more efficient use of land and resources.
As the industry continues to digest this data, it's essential to watch how builders and developers respond to this opportunity. Will we see a surge in infill development projects, and which markets will be the first to capitalize on these listed lots? Additionally, it's crucial to monitor how policymakers and regulators react to this trend, as zoning laws and land-use regulations may need to be revisited to facilitate more infill development.
Originally reported by housingwire.com. LotNews adds analysis for real estate & property readers.