On a year-over-year basis, single-family housing starts are down -0.5%, while multifamily (5 units or more) starts are down -12.6%.
KB Home Chief Operating Officer Robert McGibney: "We've seen resale inventory start to climb back up [in some markets]. It [resale inventory] is become a bigger competitor."
A new report by Forbes finds that the bull market for major homebuilders has created 12 new billionaires in the industry.
