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KB Home Acquires Lots in Houston

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One of the leading U.S. homebuilding companies, KB Home (NYSE:KBH) recently acquired 909 homesites in popular Houston submarkets. The company has acquired lots in Anserra and Waterstone in Katy, Canterbury Park in Pearland, Tour 18 in Humble and Wedgewood Falls in Conroe.

In Katy, KB Homes acquired 334 lots in Anserra community and 154 lots in Waterstone community. Both the communities are scheduled to open in early 2014.    

In Conroe, the company purchased land for about 200 Built-to-Order homes in the Wedgewood Falls community. The community is expected to be opened this month.

In Pearland, KB Home will offer 157 homes in the Canterbury Park community. The community is expected to be opened in January.
All the homes will be ENERGY STAR certified and will help residents save on their utility bills. The homes will also feature Wiser home management systems, which keep a track of energy consumption.

KB Homes had been building homes in Houston since 1999. The housing market in the region is currently gaining momentum as demand escalates.  
With the housing market recovery, a significant gap has been created between demand and supply of homes. Compared to the rising demand for new homes, there is a shortage of adequate supply of homes. Most of the major homebuilding companies like KB Home and Ryland Group, Inc. (NYSE:RYL) are investing heavily in building homes.

KB Home carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the homebuilding sector include Toll Brothers, Inc. (NYSE:TOL) and Standard Pacific Corp. (NYSE:SPF). Both the companies carry a Zacks Rank #2 (Buy).

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