Builders: Inventory Woes Not Our Fault

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  1. Home builders have been building homes on lots developed prior the housing crash in 2008. Many of those lots were foreclosed on, builders were purchasing these lots at artificially low prices. The inventory of these lots is almost gone. Builders have to purchase or develop lots at 2017 and 2018 prices. We are going to see a significant increase in new home prices in 2018. Developers and builders are developing many new subdivisions in Albuquerque & Rio Rancho.