Just a few years after the housing crash left the metro awash in developed lots, the pendulum is swining in the other direction. MetroStudy, a national research firm that tracks housing activity, said that the number of buildable lots in the Twin Cities had fallen to the lowest level since 2007.
There are now 25,268 vacant developed lots throughout the 13-county Twin Cities metro, a 9-percent decline from last year. In the 7-county metro there were only 12,614 lots, 12.7 percent lower than last year.
Ryan Jones, director of the local Metrostudy office, said that the declines are evidence of the recent uptick in new home sales.
Other tidbits from the quarterly survey: