$4B homebuilder KB Home: We may have cut Florida home prices too much

Core Insights - KB Home believes the worst of the housing market weakness in Florida may be behind them, although they are cautious about declaring a statewide turnaround [2][6] - The company has implemented significant price cuts in Florida, which have stabilized demand, but they may have cut prices too deeply and could need to raise them in some areas [2][3] Company Performance - KB Home's new home sales in Florida increased in the third quarter compared to the second quarter, indicating that price adjustments have successfully restored demand [4][5] - The company has observed a decline in housing starts across Florida, which is alleviating supply pressure and contributing to improved market conditions [4][5] Market Conditions - While KB Home is encouraged by recent trends in Florida, they noted varying conditions in other major markets, with strong demand in California's Inland Empire, Las Vegas, Houston, and Charlotte, North Carolina, while coastal California, Seattle, and Denver face more challenges [6]