KB Home Says 'Net orders were flat with the year ago quarter. We experienced variability in demand across the quarter, with softening in late June through July, as buyers continued to evaluate elevated mortgage interest rates, and general economic concerns were rising'
Portfolio Pulse from Benzinga Newsdesk
KB Home reported that net orders were flat compared to the same quarter last year. The company experienced variability in demand, with a softening in late June through July due to elevated mortgage interest rates and rising economic concerns.
September 24, 2024 | 8:13 pm
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NEGATIVE IMPACT
KB Home's net orders remained flat year-over-year, with demand softening in late June through July due to high mortgage rates and economic concerns.
The flat net orders and demand softening indicate potential challenges for KB Home, likely impacting its stock negatively in the short term. Elevated mortgage rates and economic concerns are key factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100