One of the leading homebuilding companies in the U.S., KB Home (KBH - Analyst Report) has acquired 200 acres for a new community known as CrossCreek at Bandera-Culebra West, San Antonio. The community would be opened in phases, with 100 homesites to be offered in 2013. The second phase is expected to be ready by early 2014.
The company intends to open a model home park for buyers in August. The model home park would include two fully furnished home designs. This well-positioned community is expected to accommodate 600 homes. CrossCreek comes under the popular Northside Independent School District.
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.
Buyers purchasing the first phase homes in CrossCreek will be offered 12 home designs with property sizes ranging from 1,516 to 2,960 square feet. For the second phase, the company intends to offer two new collections of floor plans. The community will also offer facilities like children’s park and community swimming pool.
Like most other homebuilding companies, KB home has been investing in lands and lots in order to raise its inventory level to meet the growing demand for new homes. KB Home has been focusing on lucrative housing markets in San Antonio. As such, CrossCreek is one of the 25 active KB Home communities in San Antonio.
KB Home carries a Zacks Rank #2 (Buy).
Other stocks in the homebuilding sector that are performing well and deserve a mention include D. R. Horton Inc. (DHI - Analyst Report) and Ryland Group Inc. , both carrying a Zacks Rank #1 (Strong Buy), and MDC Holdings Inc. (MDC - Snapshot Report) carrying a Zacks Rank #2 (Buy).