The following Contra Costa Times article reports that KB homes reported a profit for Q3 2009. The article seems to give a mixed signal though. While profits were up actual new housing starts were down and it looks as if the profit is mainly as a result of an accounting rule. This is more indication that the market seems to be very tenuous and only time will tell how it plays out. For Danville real estate, San Ramon real estate, and Alamo real estate we have seen a definite turn around from last years market and unless we see a avalanche of foreclosures and short sales I predict that the 2010 market will be similar to our market in Q4/2009.
California builder KB Home posts first quarterly profit since 2007 – ContraCostaTimes.com.
