How short? LA-OC is 35% of what’s normal, Inland Empire is 54% and San Diego is 29%.
Trumark Homes is building 91 townhomes at the Saddleback Plaza neighborhood on land carved out of a hillside in Mission Viejo, Calif.
Take the Inland Empire, for example. Zonda says the supply of ready-to-build lots improved by 49% in the year ended in the second quarter. But that jump leaves this benchmark of inventory at 54% of what Zonda sees as a balanced lot count for Riverside and San Bernardino counties. Of course, builders can buy finished lots from master-planned community developers. That’s the expensive route and typically produces high-end housing – not the market’s biggest need.
Also, Trumark picked up 73 finished lots in the Rancho Mission Viejo master-planned community in March 2022. As of this summer, the Dahlia project has 54 sales, with 15 families moved in.
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