1700 ET - KB Home cut its full-year sales outlook once again, guiding for housing revenues of $6.3 billion to $6.5 billion, down from its prior guidance of $6.6 billion to $7 billion. The homebuilder had initially guided for sales of $7 billion to $7.5 billion for the year back in January. The lowered outlook comes as housing market conditions remain sluggish as relatively high mortgage rates and prices keep potential buyers on the sidelines. Earlier today, the National Association of Realtors said sales of existing homes rose slightly in May, up 0.8% from the prior month, but remained near historically low levels. KB Home is off 2.5% in after-hours trading. (kelly.cloonan@wsj.com)
(END) Dow Jones Newswires
June 23, 2025 17:00 ET (21:00 GMT)
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