One of the leading homebuilding companies in the U.S., KB Home (KBH - Free Report) has acquired more than 300 lots for a master planned community known as Westpark in Roseville, Calif. The company intends to start land development in the coming months and a grand opening ceremony has been planned for early 2014.
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. WestPark community homebuyers will get to choose from two collections of home designs. They will be offered single storey and two storey options with up to 5 bedrooms, 4 baths, and 2 or 3-car garages. The homes will be ENERGY STAR certified and have WaterSense labeled faucets and fixtures, which will help residents save on their utility and water bills.
Located in the lucrative Sacramento submarket, the WestPark community will provide easy access to Downtown Sacramento, the Sierra foothills, and Lake Tahoe and its surrounding areas. The community is also located in close proximity to reputed schools, shopping destinations and dining and entertainment areas.
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 a presence in the Roseville market. The company had opened a new community called Garden Grove in April. In addition, the company is offering new homes at eight locations throughout Sacramento and the Central Valley.
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 Ryland Group Inc. , all carrying a Zacks Rank #1 (Strong Buy).