Leading U.S. homebuilding company KB Home KBH opened a new community called Magnolia Trails in El Cajon, CA. Magnolia Trails will offer homes priced in the high $500,000s.
Magnolia Trails accommodates 44 single-family homes featuring two-story floor plans. Each of these homes accommodate up to five bedrooms, three-and-a-half bathrooms and a two-car garage. They offer spacious rooms, luxurious master bedrooms and first-floor junior suites. All homes incorporate energy and water saving features to help residents save on their utility bills.
Homebuyers will be able to enjoy proximity to Grossmont Center and Old Town El Cajon shopping mall, Mt. Helix Park and beautiful beaches in San Diego. The residential community will be served by the Cajon Valley Union School District and the nearby Chase Avenue Elementary School.
The latest development is in line with KB Home’s strategy to increase community count. Increasing its community count will help the homebuilding company to cater to the improving housing demand. Job and income growth, a recovering economy and improving consumer confidence, moderating home price gains, affordable interest/mortgage rates, rising rentals, rapidly rising household formation and a limited supply of inventory – all point to continued strength in demand in 2016. Given such a scenario, KB Home’s efforts on increasing its community count should strengthen its position in the housing industry substantially.
KB Home carries a Zacks Rank #3 (Hold).
Stocks to Consider
Investors interested in the construction sector can consider Lennar Corporation LEN, Sekisui House Ltd. SKHSY and Masco Corporation MAS. All three companies have a Zacks Rank #2 (Buy).
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