In our last email, we told you that there are over 160,000 residential lots in West Riverside County that have been submitted or approved by the cities or county for some level of entitlement, including: Specific Plans, Tentative Tract Maps, and Final Maps.
So how many of these 160,000 lots will realistically enter the market in the next 24 months? We are all aware that there are factors such as lot condition, entitlement status, owner’s motivations, infrastructure/environmental/political constraints, etc., that hinder projects from being developed. When you take these factors into consideration the total number of lots drop dramatically.
Take a look at the following 5 cities. We believe, only a fraction of the total entitled lots will be built upon (“enter the market”) in the next 24 months!
In our next email, we will highlight those markets that may be undersupplied with entitled lots based on our housing demand projections.
If you have any questions or want to know more about this information, please contact Katie Spitznagel at (949) 656-8022.