KB Home says it has reached its goal of returning to a predominantly Built to Order business model, with BTO homes representing nearly three-quarters of deliveries in the fiscal third quarter. The shift contributed to a sequentially higher housing gross profit margin, the company says, even as the broader housing market faces pressure from elevated mortgage rates and geopolitical uncertainty. The adjusted housing gross profit margin came in at 16.8%, down from 18.9% a year earlier but up from earlier in the fiscal year.

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