One of the leading homebuilding companies in the U.S., KB Home (KBH - Free Report) has acquired 100 acres for a new community known as Lakewood Pines in Atascocita in Houston, Texas. Located close to Houston Lake, the community will accommodate more than 300 homesites.
The company intends to start land development later in 2013 and the construction of model homes is expected to start by mid 2014. The company plans to develop about 250 acres of additional land adjacent to Lakewood Pines, which can accommodate up to 700 homesites.
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.
KB Home customers can choose from various fixtures, finishes and floor plans with sizes ranging from 2,000 to 4,000 square feet. The homes will be ENERGY STAR certified and will have WaterSense labeled faucets and fixtures, which can help residents save on their utility and water bills.
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 such as Houston. Lakewood Pines will be the latest addition to the 25 active KB Home communities in Houston.
KB Home carries a Zacks Rank #3 (Hold).
Other stocks in the homebuilding sector that are performing well and deserve a mention include D. R. Horton Inc. (DHI - Free Report) , MDC Holdings Inc. (MDC - Free Report) and Lennar Corporation (LEN - Free Report) , all carrying a Zacks Rank #1 (Strong Buy).