If it's news to you that we have a housing shortage, I would be surprised.  Times are rough for buyers, especially buyers in the under 150k range which is a majority of housing in Oceana and surrounding communities.  Decent homes listed under 150k seem to be pending in a matter of days.  So what's next?  I don't have a crystal ball, but at some point housing starts/new construction need to pick up.  In the 2007 and on downturn, we lost a lot of builders.  Now those builders are building for the higher end market.  And what do builders need?  Land, lots, places to construct.  We've already seen acreage being split and sold and people have been fairly successful with it.  I anticipate that as we continue to face a limited supply of homes, that land values will continue to inch upward.  We haven't seen big jumps in land prices in our area yet, but it's certainly a possibility. As always, time will tell.