The Real Deal Miami

KB Homes CEO optimistic about housing market recovery

May 17, 2011 06:43PM

Despite disappointing housing statistics, Jeff Mezger, CEO of home builder KB Homes, says he’s optimistic. “We like how our company’s positioned,” he said this morning on CNBC (see video above). “There are many markets that we operate in that are showing signs of recovery.”

Mezger identifies Central Florida, Las Vegas, and Phoenix as having a particularly hard recovery process ahead. There is too much inventory and prices are at very low levels, he said. In contrast, the west coast has low inventory and high demand.

“I think we’re seeing the signs of the beginning of recovery… and I think each market will now recover at its own pace. There are pockets of opportunity in every market.”

In March, The Real Deal reported that despite a 17 percent drop in the number of new homes sold between January and February nationwide, KB Homes’ shares had remained flat.