A small sign of economic recovery: KB Homes cut its first quarter losses by 78% and they stated that it was because of first time home buyers. KB Homes is one of the nations largest new home builders whose closest projects to Bloomington are in the Chicago area.
KB Homes stated that first time home buyers 'flocked' to their smaller and affordable new homes. While I was working in real estate in the Raleigh/Durham NC market, KB Homes was a very popular builder and had several new home neighborhoods that offered cute small homes that were ideal for the first time home buyer.
Bloomington's national home builder, Beazer Homes, has two new home neighborhoods in Bloomington. Many of the homes start near or above $200,000. Maybe they should rethink their strategy and offer smaller homes at more affordable prices that first time home buyers can afford?