KB Home (KBH) Reports Prelim. 54% Gain in New Orders YTD FY13

KB Home (NYSE: KBH) reported preliminary quarter-to-date net orders for its first fiscal quarter of 2013. Net orders for new homes were 750 quarter-to-date through January 18, 2013, representing an increase of 54%, compared to net orders of 488 through January 20, 2012 in the first quarter of last year. While the improved quarter-to-date net orders compare favorably to the weak net order performance in the prior year period, the relative improvement is expected to moderate as the fiscal first quarter 2013 continues.

“We have seen a measurable increase in our first quarter net orders as compared to the same period last year,” said Jeffrey Mezger, president and chief executive officer of KB Home. “This trend reflects the ongoing improvement in the housing market and our focused execution of our strategic growth initiatives.”

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