Recently, Calif.-based homebuilder,
), launched two communities - Katy Oaks Preserve and Katy Oaks
Estates - in Katy, Texas. Homebuyers will be able to catch a
glimpse of the model homes in these beautiful communities at the
grand opening celebration to be held on Sep 28.
The Katy Oaks communities are located in the west Houston
suburb of Katy and include a community park, pavilion, lake,
walking trails and playground. The communities are easily
accessible from the interstate highways, Grand Parkway and
Katy Oaks Preserve will offer nine single-storey as well as
two-story floor plans to homebuyers with up to five bedrooms and
three baths. It has open floor plans ranging from 1,836 to 3,204
square feet. The homes in the community are especially designed
with spacious open rooms and are priced from $160,000 onward.
On the other hand, Katy Oaks Estates accommodate up to four
bedrooms, three baths and a two-car garage. Priced at $200,000
and upwards, the homes have open floor plans ranging from 2,598
to 3,005 square feet.
All homes in these communities have ENERGY STAR certified
appliances and WaterSense labeled fixtures which will help the
consumers to significantly save on their monthly energy and water
utility bills. The homes have been built with KB Homes' Built to
Order facility which allows the buyers to personalize their
homes. Moreover, the closeness of KB Home Studio to these
communities allows the buyers to take the help of the company
experts while designing their homes.
The housing market has made a steady comeback from the lows
witnessed in mid-2006 due to severe and widespread downturn. With
the recent improvement in economic conditions and the housing
market in general, mortgage/interest rates are edging upwards to
more normalized levels since May. Though interest rates have
started increasing lately, they are still below historical levels
and housing is still affordable. Thus, high affordability levels,
increased rentals and historically-low interest rates are driving
the housing recovery.
In the recently reported third-quarter fiscal 2013, net orders
declined 9% to 1,736 homes. We believe that the recent increase
in interest/mortgage rates has slowed both order pace and
traffic. However, management stated that the moderating order
pace caused by a spike in mortgage interest rates was a temporary
effect and demand should go up once consumers adjust to both
higher rates and pricing.
KB Homes carries a Zacks Rank #3 (Hold). Other stocks in the
construction sector that are performing well and deserve a
Boise Cascade Co.
Standard Pacific Corp.
The Ryland Group Inc.
). While Boise Cascade has a Zacks Rank #1 (Strong Buy), Standard
Pacific and Ryland Group carry a Zacks Rank #2 (Buy).
BOISE CASCADE (BCC): Free Stock Analysis
KB HOME (KBH): Free Stock Analysis Report
RYLAND GRP INC (RYL): Free Stock Analysis
STANDARD PAC (SPF): Free Stock Analysis
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