House Prices In Bay Area
The nascent recovery in new-home sales has U.S. builders
rushing to buy up a diminishing supply of well-located, ready-
for-construction land. They added more than 18,000 lots during
their most recent quarter, the biggest gain since their
inventory hit a nadir in the fourth quarter of 2009, according
to data compiled by Bloomberg Industries. Demand is becoming so
overheated in areas such as coastal California that developers
are forced to pay more or shop in less-favorable markets.
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