StanPac: 65% of Land Purchases in California

In a few days there will be a dedicated section of Marketwise that will deal exclusively with the housing market and homebuilders.  However, I didn’t want to wait to post this item.  From WSJ’s running commentary on Standard Pacific’s earnings call:

The bulk of its land purchases-65%-are in California. The Southeast makes up 24%, while the Southwest comes in at 11%. More than half of the sellers are developers, while banks make up 25%. Banks are still holding on to a lot of land, Mr. Campbell says. Most builders are waiting for lenders to loosen their grip on land holdings.

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