1112 ET - KB Home reduced base prices in mid-February with the hope of stimulating demand. So far, it seems to be working, BofA analysts say. In the past five weeks, net orders improved to be closer to the home builder's targeted sales pace. KB Home still lowered its revenue outlook for the full year after the monthly absorption rate in the first quarter came in below normal. The spring selling season is off to a slower start, KB said, echoing what some other homebuilders have also indicated. Shares fall 4.4% to $59.26, after hitting a 52-week low of $56.41. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
March 25, 2025 11:12 ET (15:12 GMT)
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