One of the leading homebuilding companies in the U.S., KB Home (KBH - Free Report) recently revealed its plans concerning its first home community in Bastrop in east Austin. The new community known as River Meadow will consist of 26 homes. The community is expected to be opened in April.
River Meadow is one of the 20 KB home communities in the Austin metro area. The company has also acquired other lots and lands around Austin, in response to the growing demand for new homes in the area.
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. Consumers can choose from 13 one- or two- storey floor plans for their homes at River Meadow. River Meadow homes will offer the small town country lifestyle, with easy access to restaurants, shops, the Bastrop State Park, Lake Bastrop and the McKinney Falls State Park.
KB Home intends to open more than 120 communities in fiscal 2013, with more communities scheduled to come up in the later half of the year. As such, the community count is expected to increase by at least 15% to 20% by the end of next year. The company expects profitability for fiscal 2013.
KB Home carries a Zacks Rank #3 (Hold).
Other stocks in the homebuilding sector that are performing well and deserve a mention include NVR Inc. (NVR - Free Report) carrying a Zacks Rank #1 (Strong Buy), and D. R. Horton Inc. (DHI - Free Report) and Gafisa S.A. (GFA - Free Report) , carrying a Zacks Rank #2 (Buy).