A couple weeks ago, we released a post showing the declining number of developed lots in the St. Louis region. Our point was that new home demand is growing, while home site inventories are not being replenished. This may likely lead to lot shortages, unworkable prices, and a market slowdown.
We received varying feedback ranging from "there's still a big oversupply" to "we are out of good lots in the places people want to live." Actually, these are both correct.
MarketGraphics® is now preparing a rating system that will detail developed lot inventories by quality and opportunity. In 2013, you will begin seeing home site locations ranked as A, B, C, or D. Zanola is preparing this new ratings system now and will trial run during our next audits. If you have any suggestions for setting up the MarketGraphics® ABC's developed lot criteria, please let us know. We will use your input!
Please see below. We are re-sharing the MarketGraphics mapped "Change in Developed Lot Inventory" for the St. Louis Region, plus we are adding the same map for Central Missouri and Southwest Missouri.