Sacramento Blogs

KB Home posted a larger than expected loss of $772 million in the quarter that ended November 30, much of it due to tax charges the company took to write down the value of unsold inventory and joint ventures. KB’s loss during the same quarter last year was $79 million.

KB was the Sacramento region’s top builder through the first 11 months of 2007.

The company produced 8,132 homes in this quarter, down 22 percent from 10,386 in the year ago period. The average selling price in this quarter was $247,800, down 12 percent from $280,000 in the year-ago period, according to a release.

This entry was posted on Tuesday, January 8th, 2008 at 9:15 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.