Demand, inventory, and seasonality stabilized.
Lance Lambert, 6-21-2023, the editorial director of Fortune Education. He also writes the weekly Fortune Analytics newsletter and reports on topics ranging from the future of work to the housing market. "Even hard-hit Western housing markets are stabilizing—just look at KB Home's latest cancellation rate," Fortune, https://fortune.com/2023/06/21/housing-market-improvement-for-homebuilders-and-western-markets-home-price-correction/ ---ML
“The improvement in [housing] demand we started to see in February was sustained throughout our second quarter, as we achieved monthly sequential increases in our net orders,” Mezger told investors on Wednesday. “We are well-positioned to achieve our revenue target for 2023.”
What’s going on? Two things.
First, the national U.S. housing market stabilized this spring, as a shortage of existing home inventory and seasonality did just enough to put the market back into equilibrium.