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March 28, 2013

Builders scramble to find land as market rebounds

  • A lack of available lots is putting pressure on prices for land that is available.
    Special to the Journal

    Image by Grouparchitect [enlarge]
    Limited land has American Classic Homes planning its first apartment complex: 160 units in Renton called Fieldbrook Commons.

    Multifamily homebuilders are rejoicing over the return of the housing market. The number of multifamily building permits is up significantly in King County, and the trend will continue until at least 2015, according the latest Dupre + Scott Apartment Advisors report.

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