Atlanta Losing KB Homes As Builders Retrench
KB Home, the Los Angeles based builder, is leaving Atlanta. They gained great publicity by building the Martha Stewart developments in the Atlanta area, but unfortunately their entrance in the market was right at the peak.
But as home builders retrench as supply far exceeds demand in both Altanta and the rest of the country, I would not be surprised to see more builders leaving regions completely and national builders reverting back to regional builders.
The rewards were there in the early part of the 2000 but the risks far outweigh the benefits for most builders.
“KB Home has made the strategic decision not to invest in additional communities in Atlanta and make a gradual transition out of its operations in the market,” company spokesperson Cara Kane said.
“We are committed to completing and delivering all of the homes that are currently under construction in our four active communities in the Atlanta area to the full satisfaction of those homebuyers,” Kane said.
KB Home’s exit comes less than three years after the company announced it was teaming up with Martha Stewart Living Omnimedia to build the Hampton Oaks subdivision near Fairburn in south Fulton County. The houses were inspired by Stewart’s homes in New York and Maine. ajc.com.
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Comment by Tony Sena on 20 December 2008:
I don’t believe KB Homes will leave the Las Vegas Real Estate Market but I have noticed a huge decrease in new development in the valley by KB Homes. But I guess you could say all home builders are feeling the pain of the real estate market and are pulling less permits to build new homes.