One of the leading U.S. homebuilding companies, KB Home (KBH - Free Report) recently opened a new community called Westwoods Mesa in Arvada. Located in the Denver area, the new community has four decorated model homes now open for daily tours. The community offers paired and single-family homes.
The residents of Westwoods Mesa can choose from eight one- and two-story single-family home designs and six two-story paired home floor plans. The homes can accommodate up to five bedrooms and three and a half baths. Prices of the single family homes start from low $300,000s.
The residents of Westwoods Mesa can also choose to opt for a paired home for low maintenance living. The homes can accommodate up to four bedrooms and three baths. Prices of these homes start from low $200,000s.
Westwoods Mesa is the tenth KB Home community in the metro-Denver area. Residents can enjoy activities like swimming, fishing, cycling, skating, rock climbing at the Standley Lake and the Apex Center, and access the nearby golf courses and parks.
All the homes will offer energy efficient features and will help residents save on their utility bills. The homes will also incorporate WaterSense labeled faucets and fixtures, which also help to conserve natural resources.
Though interest rates have started increasing lately, they are still below historical levels and housing is still affordable. Thus, high affordability levels, increased rentals and historically-low interest rates are driving the housing recovery. In addition, accelerating job growth and increasing consumer confidence are also boosting the demand for new homes. Supply, however, remains limited. The new communities will help KBH meet this excess demand for homes.
Owing to its operational business model KBnxt, this Zacks Rank #3 (Hold) company 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.
Other Stocks to Consider
Investors interested in the homebuilding sector can also consider stocks like William Lyon Homes (WLH - Free Report) , Taylor Morrison Home Corporation (TMHC - Free Report) and Lennar Corp. (LEN - Free Report) . While William Lyon and Taylor Morrison sport a Zacks Rank #1 (Strong Buy), Lennar carries a Zacks Rank #2 (Buy).