Why KB Home Stock Was Up This Week
KB Home (NYSE: KBH) investors beat a rising market this week. The homebuilder's stock rose 12% through Thursday trading compared to a 0.8% increase in the wider market, according to data provided by S&P Global Market Intelligence. KB Home's stock is trouncing the market so far in 2023, up 24% on the year.
This week's rally came in response to encouraging news from the company on some key sales and earnings metrics.
KB Home this week announced results for its fiscal Q1 period that runs through late February. The company reported a modest 3% drop in sales volumes as the industry felt the pressure from rising mortgage rates. Yet an uptick in average selling prices offset that decline to keep sales stable year over year.
Source Fool.com
