One of the leading U.S. homebuilding companies, KB Home (KBH) recently unveiled Whitmore Oaks and Westberry Manor communities in Mandarin in Northeast Florida. Home prices start from mid-$200,000s and include no community development district fees.
The residents of Westberry Manor can choose from two one-story and five two-story floor plans. The residents will have access to shopping centers, restaurants and St. John’s River. On the other hand, homebuyers at Whitmore Oaks will be offered three one-story and six two-story floor plans that include up to six bedrooms and four baths.
All the homes offer energy efficient features and will help residents save on their utility bills. They will also incorporate the Wiser home management system, which keeps a track of energy consumption.
Owing to its operational business model KBnxt, KB Home always begins construction only after a purchase agreement is executed. Therefore, consumers buying KB homes get the liberty to plan their homes according to their preference. Homebuyers can choose from various features such as a covered patio, a master bath with separate tub and shower, and a gourmet kitchen with a double oven and cooktop. Homebuyers will be guided by a personal design consultant at the local KB Home Studio to create a home that meets their unique needs and preference.
Though interest rates have started increasing lately, they are still below historical levels and housing is still affordable. Thus, high affordability levels, increased rentals and historically-low interest rates are driving the housing recovery. In addition, accelerating job growth and increasing consumer confidence are also boosting the demand for new homes. Supply, however, remains limited. The two new communities will help KBH meet this excess demand for homes. In fact, in summer, the company intends to open another single family community, Abby Glen, on Sunbeam Road.
KB Home carries a Zacks Rank #3 (Hold).
Other Stocks to Consider
Investors interested in the homebuilding sector can also consider stocks like William Lyon Homes (WLH), Taylor Morrison Home Corporation (TMHC) and Lennar Corp. (LEN). While William Lyon and Taylor Morrison sport a Zacks Rank #1 (Strong Buy), Lennar carries a Zacks Rank #2 (Buy).
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