One of the leading U.S. homebuilding companies,
) recently acquired 40 acres of land in Eastvale, CA from
Stratham Communities. The site named Cleveland Square is
positioned at the northwest corner of Limonite and Cleveland
Avenues. The company has the option to acquire 143 home sites in
HOVNANIAN ENTRP (HOV): Free Stock Analysis
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Owing to its operational business model KBnxt, KB Home begins
construction only after a purchase agreement is executed.
Therefore, consumers buying KBH homes get the liberty to plan
their homes according to their preference. After KB Home breaks
ground on the land this spring, homebuyers will get to choose
from three collections of homes.
One of these collections will comprise 125 single family homes.
Homeowners will get to choose from three floor plans, which
feature spacious rooms, outdoor patios and an optional first
floor bedroom suite.
The second collection will have 123 homes, with an option for
three floor plans. The homes will have up to five bedrooms. The
third collection will have 102 homes, with up to four floor plans
and five bedrooms.
Cleveland Square is a part of the Inland Empire. KBH unveiled
four communities in the Inland Empire region of California in the
first weekend of August. The four new home communities are
Cantata at The Preserve in Chino, Parkside in Ontario, The
Pinnacle at Roripaugh Ranch in Temecula and Sequoia at Monument
Park in Perris.
Like most other homebuilding companies, KB Home has been
investing in lands and lots in order to raise its inventory level
to meet the growing demand for new homes. KB Home has a strong
presence in the California market. In mid-July, the company
acquired more than 300 lots for a master planned community known
as Westpark in Roseville, Calif.
KB Home carries a Zacks Rank #3 (Hold).
Other stocks in the homebuilding sector that are performing well
and deserve a mention include
Hovnanian Enterprises Inc.
Meritage Homes Corporation
Standard Pacific Corp.
). All the three companies carry a Zacks Rank #2 (Buy).