KB Home just announced that it is resuming its home building operations in the Mid-Atlantic region, including Maryland and Virginia.
“We have always viewed the Washington, D.C., area as a strategic market” said Vince DePorre, regional president of KB Home’s southeast operations. “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 sales pace has gone up, the listings have gone down, and the pricing has stabilized and even gone up,” he said.
Recent housing data have confirmed improving conditions in the Washington D.C. area, according to analysts at Raymond James.
Washington-area sales rose 4 percent last month, while the number of for-sale listings is down to the lowest level since February 2007. In Virginia’s Prince William County, median prices rose for the first time since June 2006.
Read the full article at Reuters.
