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.