![]() There are markets in our price point that it is instead being quoted in days: 11 days, 12 days of resale supply,” Mezger tells Fortune. So the resale stock, which is our biggest competitor, has no inventory. Choosing is made easier by the fact that none of these options are. And your store location is limited to either bricks-and-mortar or online. ![]() For resale forms, you can choose between consignment and buy-outright. And of that 500,000 listed, a chunk of that isn’t even livable, it’s homes that would have to be acquired and torn down and rebuilt. When it comes to consignment, 'business model' simply refers to 1) the forms of resale you want to use and 2) where your store lives. “Today it is being quoted in months of one month, 1.2 months-so instead of 2.6 million homes to choose from, it’s 500,000 homes. However, we’re nowhere close to that level. In the United States, Total Housing Inventory refers to the number of single-family and condos units available for sale. In a normal and balanced housing market, Mezger says there would be six months of inventory supply-or 2.6 million listings around the county. I would say the inventory out there,” Mezger tells Fortune. “I shared it on our last earnings call: Once we, quote, ‘found the market’ and got our sales pace back, we’ve been raising prices across the footprint and in the second quarter reported that we raised prices in 70% to 75% of our communities during the second quarter. Mezger thinks that lack of inventory spells years of opportunity for homebuilders. Housing market affordability is expected to improve in 2024, Morgan Stanleys chief US economist said. In a recent interview with Fortune, KB Home CEO Jeffrey Mezger expressed his optimism about the homebuilding industry’s prospects, attributing it to the chronic shortage of existing and resale housing inventory.
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