The number of jobs available in the construction sector have become a positive “negative” for the United States’ real estate market.  Employers are reporting more open positions for construction employees and sub-contractors.  This shortage of workers is actually contributing greatly to the slow completion of new homes for sale on the market.  However, new home sales for single-family detached homes has increased 13% year-over-year, reporting 592,000 homes completed in June, 2016.  Lot size has also started to play a role in the completion of  new homes for builders in an unexpected way. The lack of developed lots has also slowed down new home builders as they are trying to keep up with the demand from new home buyers in the housing market.

However, there is a “silver lining” to the lack of developed lots.  Builders may find that they don’t have to look as hard for lots on which to build because the Census Bureau’s Survey of Construction (SOC) found that new home buyers preferred lots that were less than 8,600 square feet – approximately 1/5-acre lots.  Since an acre is 43,560 square feet, this means that approximately 5 homes could fit comfortably on a space the size of a football field.  This is also good news for first-time home buyers.  The types and sizes of homes that would fit on a 1/5-acre lot would probably fall within the price range of the first-time home buyers.  Most builders paying attention to housing trends build new homes based on buyers’ preferences.  As lot sizes decrease, the availability of affordable housing has the potential to increase.

In Louisiana, the SOC reported that new home buyers buying single-family homes in Louisiana prefer lot sizes that are .16-acre.  This is less than the national trend of 1/5 acre.  Ron Lee Homes in St. Tammany Parish Louisiana can design and build you a completely custom new home either on a lot you already own or on any new lot for sale in the new subdivisions in the West St. Tammany Parish area.  We also have garden home floorplans and smaller square footage floorplans that have been designed and engineered for smaller lots.  New home buyers frequently modify our previously designed floorplans to their specifications in order to have Ron Lee Homes build the home of their dreams.  If you already own your lot or would like to buyer a lot in one of the many neighborhoods throughout the St. Tammany Parish area, Contact Us Today, Call 985-626-7619 or E-mail Info@RonLeeHomes.com.

Click Here and Here for the Sources of the Information.