Argus Research
Analyst Report: KB Home
KB Home, headquartered in Los Angeles, is one of America’s largest homebuilders, with domestic operations in California, Washington, Arizona, Nevada, Colorado, Texas, Florida, and North Carolina. In FY20, the company delivered 10,672 homes, generating revenue of $4.18 billion. The West Coast segment represented 46% of 4Q homebuilding revenue, with just 30% of homes delivered, helped by average home prices of $640,000, up from $592,000 a year earlier. The company targets the lower-middle range of the market, with more than half of sales to first-time buyers. Most of the homes the company sells are priced for the median-income household in that market, but KBH has also expanded into higher-priced markets. KBH’s average selling price increased slightly to $389,000 in 2020.
