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KB Home has brutal first quarter.
just when the MSM is touting the "turn around" of the new home construction market we get this,
NEW YORK (CNNMoney) -- Shares of residential construction companies were under pressure Friday after KB Home reported a sharp drop in new orders, raising worries about the all-important spring selling season.
KB Home said new orders fell 8% in the first quarter, driven by sharp declines in the Southwest and West. It also reported an increase in the cancellation rate of new orders, which rose to 36% in the quarter.
full article,
http://money.cnn.com/2012/03/23/mark...ders/index.htm
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