As the housing market continues to recover, lot development is going up.

"Builders and developers are now playing 'catch-up,' with builders buying land and lots and developers/investors paving roads and putting in infrastructure to serve the builders’ needs at a frenetic pace," said Metrostudy Chief Economist Brad Hunter in a recent blog post.

According to Metrostudy data, here are the top 10 states ranked by known future lots.

State                         Future Inventory
Florida                      1,597,055
California                  1,378,299
Arizona                     1,213,476
Texas                          651,413
Colorado                     406,613
Georgia                       316,956
Illinois                         281,054
Nevada                       227,121
Maryland                    194,829
Virginia                       183,613

Read Hunter's full commentary here