KB Home (KBH Quick QuoteKBH - Free Report) recently acquired land in Longmont, CO. Located northeast of Boulder in West Longmont, this land will accommodate 199 home sites. Presently, the company is engaged in land development and the community is called Somerset Meadows in Boulder County. The company expects to open the Reserves and the Estates at Somerset Meadows this winter.

Somerset Meadows homes will include one and two story home designs and can accommodate up to 6 bedrooms, four and a half baths, three car garages and a basement. All the homes meet ENERGY STAR guidelines and feature water conserving features such as WaterSense labeled faucets and fixtures.  

Somerset Meadows will enable easy access to major employment areas, Rocky Mountain National Park, major universities, shopping and dining points, parks, open spaces and trails.

KB Home consistently aims to boost its community count in the highly favorable submarkets as part of its growth strategy.  Almost all homebuilders agree that the spring selling season was off to a good start with strong demand and traffic trends. The companies are also optimistic that the growth momentum will be sustained through the rest of the year. Positives like an improving economy, rising wages, favorable job outlook and a tight supply situation raise optimism about the sector’s performance for the rest of 2016.

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

Stocks to Consider

Better-ranked stocks in the construction sector include Masco Corporation (MAS Quick QuoteMAS - Free Report) , Installed Building Products, Inc. (IBP Quick QuoteIBP - Free Report) and GCP Applied Technologies Inc. . While Installed Building Products sports a Zacks Rank #1 (Strong Buy), Masco Corporation and GCP Applied Technologies have a Zacks Rank #2 (Buy).

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