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KB Home makes push into higher end of housing market
KB Home makes push into higher end of housing market

Southern California's biggest home builder has been betting on the higher end of the housing market. And so far, that bet appears to be paying off. KB Home reported stronger-than-expected earnings Friday, thanks in part to a big push into higher-priced markets in the Southland and Bay Area. The average price of a new KB home ordered in California in the three months that ended May 31 hit $591,000, up 18% from a year earlier, the Los Angeles company said. That's the result of a concerted effort to appeal to wealthier buyers, launching projects in more desirable markets where land is scarce and building higher-end homes for customers with good jobs, KB Home said. "Our strategy is working...

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