Builder KB Home Starting Up Again in Washington Area
Signs of life in the Washington-area real estate market have caught the attention of at least one big builder. Los-Angeles based KB Home announced this morning that it would resume building in the Mid-Atlantic region, including Maryland and Virginia. The company pulled out of the market in April, 2008.
KB Home's Regional VP, Vince DePorre, said in a press release: "We have always viewed the Washington, D.C. area as a strategic market, and sustained a presence in the region even as we moved to preserve cash, lower expenses and reduce inventory companywide. ... We retained some of our most valuable land options with an eye toward rolling out new communities when the time was right. That time is now, and we look forward to contributing to the economic growth of the Washington, D.C. area."
The company said many of the designs it intends to build in this area will be affordable, flexible and energy-efficient, adhering to Energy Star guidelines set by the U.S. Department of Energy and the Environmental Protection Agency.
What do you think? Does their return bode well for the Washington market -- or will they cause inventory to grow too fast, too soon?
September 16, 2009; 10:04 AM ET
Categories: The economy , The market
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Posted by: free_np | September 16, 2009 12:33 PM | Report abuse
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