湖滨别墅地产交流会现场 由 KB Home与GoGo Real Estate School联合举办的湖滨别墅主题地产行业交流活动，于2026年2月7日上 午在南加州Menifee及Lake Elsinore区域顺利举行。本次活动以真实住宅开发项目与区域社区为交流背 景，吸引了来自房地产，投资，以及相关领域的多位从业者到场参与，现场交流气氛热烈。 活动现场 KB的VP(左一)和主办方、GoGo Real Estate School校长郑德伦(右一) 活动围绕当前房地产市场环境变化、实务操作趋势以及行业运作方式的演进展开讨论。通过结合实地参 访与现场交流，参与者得以从更贴近一线实践的角度，理解住宅开发、社区规划及项目推进过程中所涉 及的实际考量。 活动现场 活动过程中，主办方围绕Menifee及Lake Elsinore区域的多个代表性项目与社区点位展开参访与交流，使 相关讨论建立在真实场景与实际案例之上。活动现场参与人数众多，交流氛围开放而积极。 ——多位政界代表致贺，聚焦地产实践与AI应用趋势 活动获州、市两级表彰，Mike Fong、Phillip Chen、Elizabeth Yang等政要颁发证书 此外 ...

Economic Indicators - Nonfarm payrolls are expected to increase by +68,000 in January, with the unemployment rate remaining unchanged at 4.4% [1] - Average hourly earnings are projected to rise by +0.3% month-over-month and +3.7% year-over-year in January [1] - Initial weekly unemployment claims are anticipated to decrease by -7,000 to 224,000 [1] - Existing home sales in January are expected to decline by -4.3% month-over-month to 4.16 million [1] - January CPI is expected to rise by +2.5% year-over-year, with core CPI also expected to increase by +2.5% year-over-year [1] Retail Sales and Employment Costs - US December retail sales were unchanged month-over-month, falling short of expectations of +0.4% [2] - The employment cost index for Q4 rose by +0.7% quarter-over-quarter, which is the smallest increase in 4.5 years and below the expected +0.8% [2] Stock Market Performance - Stock indexes experienced mixed trading, with the Dow Jones reaching a new all-time high while the S&P 500 closed down -0.33% and the Nasdaq down -0.56% [6][5] - The broader market initially found support from weaker-than-expected retail sales and employment cost index reports, which lowered bond yields [5] Earnings Season Insights - Over half of the S&P 500 companies have reported earnings, with 78% beating expectations [7] - S&P earnings growth is expected to rise by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth [7] - Excluding the Magnificent Seven tech stocks, Q4 earnings are projected to increase by +4.6% [7] Interest Rates and Bond Market - The markets are pricing in a 23% chance of a -25 basis point rate cut at the next Federal Reserve meeting [8] - The 10-year T-note yield fell to a 3.5-week low of 4.13%, supported by weaker-than-expected economic reports [9] Sector Performance - AI-infrastructure stocks faced pressure, with Western Digital down more than -7% and other tech stocks also declining [12] - Wealth-management stocks dropped significantly, with Raymond James Financial down more than -8% due to concerns over AI disruption [13] - Homebuilding stocks rose after the drop in mortgage rates, with Toll Brothers up more than +6% [14] Company-Specific Developments - Goodyear Tire & Rubber Co reported Q4 adjusted EPS of 39 cents, below the consensus of 49 cents, leading to a decline of more than -14% [15] - Incyte forecasted dull-year total net product revenue of $4.77 billion to $4.94 billion, causing a drop of more than -8% [16] - Spotify reported a record 38 million monthly active users in Q4, leading to a rise of more than +17% [17]

Group 1: Company Overview - KB Home (NYSE:KBH) is a long-established American homebuilder founded in 1957, headquartered in Los Angeles, California, focusing on building customizable homes across multiple U.S. markets [3] Group 2: Financial Performance - In fiscal 2025, KB Home reported total revenues exceeding $6.2 billion and nearly $430 million in net income, reflecting a 10% increase in book value per share [2] Group 3: Market Outlook - BofA analyst Rafe Jadrosich raised the price target on KB Home to $63 from $58 while maintaining a Neutral rating, noting that fundamentals are likely to face pressure through 2026 due to weaker employment, migration trends, persistent inflation, and a competitive selling environment [1] - The homebuilding sector is expected to experience a "reset year" in 2026, driven by elevated new and resale inventory [1]

Core Insights - KB Home has announced the grand opening of Quarry Row, a new-home community in Rocklin, California, with homes priced from the low $500,000s [1][2] Company Overview - KB Home is one of the largest and most trusted homebuilders in the U.S., operating in 49 markets and having built over 700,000 homes in nearly 70 years [9] - The company is recognized as the 1 customer-ranked national homebuilder based on third-party buyer satisfaction surveys [9] Community Features - Quarry Row is located in a desirable area with access to highly rated schools, parks, and outdoor recreation, including proximity to Rocklin Elementary and Springview Middle Schools [1][4] - The community offers modern two-story homes with up to four bedrooms and three baths, designed for contemporary living with features like spacious great rooms and energy-efficient designs [1][5] Personalization and Customer Experience - KB Home emphasizes building strong, personal relationships with customers, allowing homebuyers to personalize their homes through a unique design studio experience [3] - The company focuses on creating an exceptional homebuying experience, which contributes to its high customer satisfaction ratings [3][9] Location and Accessibility - Quarry Row is strategically located for easy access to major highways, shopping centers, and recreational areas, enhancing the lifestyle for residents [6] - The community is near significant employment and medical centers, as well as entertainment options like Thunder Valley Casino Resort and Quarry Park Adventures [6] Sales and Marketing - The sales office and model homes at Quarry Row are open for walk-in visits and private tours, with pricing starting from the low $500,000s [7]

Industry Overview - Housing stocks provide a liquid and accessible way for investors to gain exposure to the residential real estate market without the complexities of owning physical property [2] - The investment case for housing stocks is strengthening due to long-term structural housing demand, constrained supply in many U.S. markets, and a favorable interest-rate environment [2][3] - Demand for housing remains resilient, driven by years of underbuilding that have created a persistent supply shortage, particularly in entry-level and affordable segments [3] - Central banks transitioning towards easing monetary policy and declining mortgage rates could catalyze renewed homebuyer activity, supporting volumes, pricing power, and cash flows across the sector [3] - Recent developments, such as the "Trump Homes" proposal, have added a near-term bullish catalyst for homebuilder stocks, potentially targeting up to one million homes and over $250 billion in housing value [4] Company Highlights KB Home (NYSE:KBH) - KB Home has a forward P/E ratio of 10.90 and is held by 31 hedge funds [11] - BofA raised the price target on KB Home to $63 from $58, maintaining a Neutral rating, while noting potential pressures on fundamentals through 2026 [11] - In fiscal 2025, KB Home reported total revenues exceeding $6.2 billion and nearly $430 million in net income, reflecting a 10% increase in book value per share [12] - Founded in 1957, KB Home focuses on building customizable homes across multiple U.S. markets, positioning itself to benefit from long-term housing demand trends [13] LGI Homes, Inc. (NASDAQ:LGIH) - LGI Homes has a forward P/E ratio of 11.74 and is held by 33 hedge funds [14] - Citizens raised the price target on LGI Homes to $95 from $85, highlighting near-term catalysts such as monthly unit closing releases [14] - The company is expanding its community footprint with the launch of the Monte Vista Collection in Modesto, California, offering homes with over $50,000 in upgrades at no additional cost [15] - Founded in 2003, LGI Homes targets first-time and entry-level buyers with affordable, move-in-ready homes, benefiting from long-term housing demand [16]

Group 1 - A proposal for "Trump homes" could lead to the construction of hundreds of thousands of new homes as part of a rent-to-own program [1] - Homebuilder stocks, including Lennar, Taylor Morrison, KB Home, PulteGroup, and D.R. Horton, experienced gains following reports of the Trump administration's consideration of a housing affordability initiative [1] - Lennar's shares surged over 5% in recent trading, building on a 3% increase from the previous day [1] Group 2 - The Trump administration is exploring various proposals related to housing affordability, including methods to lower mortgage rates and alter typical mortgage structures [1] - One proposal suggests that homebuilders could construct entry-level "Trump homes" backed by private investors, allowing renters to count the first three years of rent payments toward a down payment [1] - Details regarding the potential involvement of federally-backed mortgages remain unclear [1]

Core Insights - KB Home has announced the grand opening of two new communities, Landings and Reserves at Aven, located in southwest Las Vegas, with home prices starting from the mid $400,000s [1][2]. Group 1: Community Features - The new homes are designed for modern living, featuring spacious layouts with up to five bedrooms and five baths, and include popular amenities such as modern kitchens and expansive bedroom suites [1][3]. - The communities will have planned walking trails and are in proximity to schools and parks, enhancing the family-friendly environment [4][6]. Group 2: Personalization and Customer Experience - KB Home emphasizes building strong relationships with customers, allowing for personalized home designs tailored to individual preferences [3][8]. - The KB Home Design Studio offers a unique experience for homebuyers to select from a variety of design options, ensuring that each home is uniquely built [3][8]. Group 3: Sustainability and Efficiency - KB homes are designed to be energy and water efficient, with many homes achieving ENERGY STAR certification, which is met by fewer than 12% of new homes nationwide [5][8]. - The focus on innovative design aims to create light-filled spaces that promote a healthy indoor environment and reduce utility costs [5]. Group 4: Location and Accessibility - The communities are strategically located for easy access to major highways and employment centers, as well as being close to shopping, dining, and entertainment options [6][7]. - Outdoor recreational areas, such as Red Rock Canyon National Conservation Area, are also within a short drive, enhancing the lifestyle offerings for residents [6].

Core Insights - KB Home has been named to Fortune's 2026 list of World's Most Admired Companies for the 10th time, reflecting its strong reputation and performance in the homebuilding industry [1][2][3] Company Performance - The company scored above industry benchmarks in key categories such as innovation, financial soundness, quality of products, and social responsibility, highlighting its leadership in delivering personalized and affordably priced homes [2][3] Survey Methodology - The recognition is based on an independent survey conducted by Korn Ferry, which evaluated approximately 1,500 companies, including the largest U.S. companies ranked by revenue and non-U.S. companies in the Fortune Global 500 database with revenues of $10 billion or more [3] Leadership Statement - Jeffrey Mezger, Chairman and CEO of KB Home, emphasized that the recognition reflects the company's consistent strategy and the trust earned from customers and communities, focusing on innovation, sustainability, and customer-centric decision-making [3] Company Background - KB Home is one of the largest homebuilders in the U.S., operating in 49 markets and having built over 700,000 homes in nearly 70 years, recognized as the 1 customer-ranked national homebuilder based on third-party surveys [4]

Core Insights - KB Home has announced the grand opening of Point Martin, a new community of townhomes in Daly City, California, priced from mid $1 million, offering a unique opportunity for homebuyers in a prime location [1][2] Group 1: Location and Community Features - Point Martin is situated between the Pacific Ocean and San Francisco Bay, providing stunning views and easy access to top employers, schools, parks, and entertainment venues [1][4] - The community is located near the historic Cow Palace Arena & Event Center, which hosts various events, and is a short drive to popular beaches and outdoor recreation areas [1][4][6] Group 2: Home Design and Personalization - The townhomes feature modern designs with spacious layouts, including three-story floor plans with up to four bedrooms and four baths, and options for additional spaces like a den [1][5] - KB Home emphasizes personalized homebuilding, allowing customers to customize their homes through the KB Home Design Studio, ensuring each home is unique [3][8] Group 3: Sustainability and Efficiency - KB Home's homes are designed to be energy and water-efficient, with many features supporting healthier indoor environments and achieving ENERGY STAR certification, which is met by fewer than 12% of new homes nationwide [5][8] - The company is recognized as an industry leader in sustainability, having delivered more ENERGY STAR certified homes than any other builder [8] Group 4: Accessibility and Lifestyle - Point Martin offers excellent commuter access with proximity to major highways, BART, Caltrain, and San Francisco International Airport, making it convenient for residents working in San Francisco and Silicon Valley [6] - The community is within walking distance to several parks and recreational areas, enhancing the lifestyle for outdoor enthusiasts [6]

Core Viewpoint - KB Home announces the appointment of Robert McGibney as President and Chief Executive Officer, effective March 1, 2026, succeeding Jeffrey Mezger, who will become the first Executive Chairman of the board after two decades as CEO [1][3]. Company Leadership Transition - Robert McGibney, a veteran of KB Home with over 25 years of service, will take over as CEO, while Jeffrey Mezger transitions to Executive Chairman, continuing to play a key management role [1][3][5]. - McGibney has held various leadership positions within the company, including Division President, Regional General Manager, and Chief Operating Officer, before being promoted to President in 2024 [4][5]. Company Achievements and Strategy - Under Mezger's leadership, KB Home has optimized its Built to Order business model, generating profitable growth and high levels of customer satisfaction, alongside sustainability achievements [3][5]. - KB Home is recognized as one of the largest homebuilders in the U.S., having built over 700,000 homes in nearly 70 years, and is noted for its strong customer relationships and personalized homebuying experiences [6]. Future Outlook - The board expresses confidence in McGibney's ability to lead the company into the future, emphasizing the importance of the company's talent management and succession planning processes [5]. - McGibney expresses excitement about the future of KB Home and aims to create long-term value while working closely with Mezger and the senior leadership team [5].