KB Home , the U.S. homebuilder that targets first-time buyers, tumbled the most in a year in New York trading after reporting a wider-than-estimated loss and a drop in new orders.
KB Home, the Los Angeles-based homebuilder that targets first-time buyers, fell the most in more than four months after it reported a decline in orders and government data showed new-home sales dropped in February.
Previously owned home sales fell unexpectedly in June as tight supply and increasing rates for mortgages imperiled the real-estate market recovery in the U.S.
KB Home , the Los Angeles-based homebuilder that focuses on first-time buyers, reported a smaller third-quarter loss as revenue increased for the first time in almost four years.
KB Home, the best-performing U.S. homebuilder stock this year, reported a narrower loss for its fiscal first quarter as sales and prices climbed amid a nationwide rebound in housing construction.
KB Home rose the most in almost three months after the builder reported a fiscal first-quarter profit that beat estimates as revenue and prices soared.