KB Home Cancellations SKYROCKET! 68% of Contracts CANCELLED Cate CiplakJanuary 24, 2023April 19, 2023 January 24, 2023April 19, 2023 KB Home had 68% of its new home construction cancel their contract in the 4th quarter of 2022. While this seems like terrible news for the housing market, there is actually nothing here. KB Homes only builds about 13,000 houses a year nationally, in 47 markets and 9 states. Compared to the 135 Million homes in the US this is small change. KB Home builds in California, Nevada, Texas, Florida and many other states with growing populations. KB Home reported net profits for the year and are paying a dividend as well in the 1st quarter of 2023. While profits are not as high as they would like, there is no risk of KB Home going into bankruptcy. These homes that are under construction will still be built and then sold to buyers as interest rates drop through the spring and the number of homes in the resale market also drops. Youtubers have reported this as terrible news, as well as the housing crashers, but that is fiction and this isn’t substantially high compared to the total number of homes they have for sale. This equates to an average of 40 houses in each market and that’s literally not going to affect any market, even if they were homes ready to be sold today. KB Home cancellations were expected given the fast rise interest rates and this is in line with what was expected. Leave a ReplyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Why the Baby Boomer Silver Wave won’t happen Todd MillerMarch 5, 2024March 5, 2024 Why the Housing Crash hasn’t Happened Yet Todd MillerMarch 5, 2024March 5, 2024 The Myth of the Housing Bubble Todd MillerFebruary 22, 2024March 5, 2024 Pets Buying Houses? Home Buyers Care More About Their Pets! Cate CiplakJune 15, 2023June 15, 2023 Three Tips to PAY OFF Your Mortgage Early! Cate CiplakJune 14, 2023June 15, 2023 Assumable Mortgages: Can you Actually Buy a House with an Assumable Loan! Cate CiplakJune 13, 2023June 15, 2023 Las Vegas Housing Market Update! Crystal Ball Episode Cate CiplakJune 12, 2023June 15, 2023 We Called it. Home Prices Did NOT Crash! Prices Still Going UP! Cate CiplakJune 11, 2023June 15, 2023 Will There Be a RECESSION in 2023? Chance of Recession in Next 12 Months! Cate CiplakJune 10, 2023June 15, 2023 Home Prices UP 20%? Barbara Corcoran Predicts “Home Buying Frenzy” Cate CiplakJune 9, 2023June 9, 2023 $800B Fund Buying Homes in the US: Middle Eastern Sovreign Wealth Fund Cate CiplakJune 8, 2023June 8, 2023 How Many Homes are Free and Clear? Las Vegas Owners vs Renters Cate CiplakJune 7, 2023June 7, 2023 Tips to PAY OFF a Loan Early! Cate CiplakJune 6, 2023June 6, 2023 Las Vegas Real Estate News: June 2023 Housing Update Cate CiplakJune 5, 2023June 5, 2023 Excessive Credit Card Debt Crashes Housing Market? Cate CiplakJune 4, 2023June 5, 2023 How Far Will Home Prices Crash in the Upcoming Recession? Cate CiplakJune 3, 2023June 5, 2023 The TRUTH About The Upcoming Foreclosure Crisis: Will Housing Crash? Cate CiplakJune 2, 2023June 5, 2023 Elon Musk Predicts “Real Estate Meltdown”: Says Home Values will Crash Cate CiplakJune 1, 2023June 5, 2023 Housing Crash CANCELLED: Home Prices are UP 2022-2023! Cate CiplakMay 31, 2023May 31, 2023 Should You Buy a House in 2023 or 2024? Is It a Good Time to Buy a House? Cate CiplakMay 30, 2023May 30, 2023
Why the Baby Boomer Silver Wave won’t happen Todd MillerMarch 5, 2024March 5, 2024 Why the Housing Crash hasn’t Happened Yet Todd MillerMarch 5, 2024March 5, 2024 The Myth of the Housing Bubble Todd MillerFebruary 22, 2024March 5, 2024 Pets Buying Houses? Home Buyers Care More About Their Pets! Cate CiplakJune 15, 2023June 15, 2023 Three Tips to PAY OFF Your Mortgage Early! Cate CiplakJune 14, 2023June 15, 2023 Assumable Mortgages: Can you Actually Buy a House with an Assumable Loan! Cate CiplakJune 13, 2023June 15, 2023 Las Vegas Housing Market Update! Crystal Ball Episode Cate CiplakJune 12, 2023June 15, 2023 We Called it. Home Prices Did NOT Crash! Prices Still Going UP! Cate CiplakJune 11, 2023June 15, 2023 Will There Be a RECESSION in 2023? Chance of Recession in Next 12 Months! Cate CiplakJune 10, 2023June 15, 2023 Home Prices UP 20%? Barbara Corcoran Predicts “Home Buying Frenzy” Cate CiplakJune 9, 2023June 9, 2023 $800B Fund Buying Homes in the US: Middle Eastern Sovreign Wealth Fund Cate CiplakJune 8, 2023June 8, 2023 How Many Homes are Free and Clear? Las Vegas Owners vs Renters Cate CiplakJune 7, 2023June 7, 2023 Tips to PAY OFF a Loan Early! Cate CiplakJune 6, 2023June 6, 2023 Las Vegas Real Estate News: June 2023 Housing Update Cate CiplakJune 5, 2023June 5, 2023 Excessive Credit Card Debt Crashes Housing Market? Cate CiplakJune 4, 2023June 5, 2023 How Far Will Home Prices Crash in the Upcoming Recession? Cate CiplakJune 3, 2023June 5, 2023 The TRUTH About The Upcoming Foreclosure Crisis: Will Housing Crash? Cate CiplakJune 2, 2023June 5, 2023 Elon Musk Predicts “Real Estate Meltdown”: Says Home Values will Crash Cate CiplakJune 1, 2023June 5, 2023 Housing Crash CANCELLED: Home Prices are UP 2022-2023! Cate CiplakMay 31, 2023May 31, 2023 Should You Buy a House in 2023 or 2024? Is It a Good Time to Buy a House? Cate CiplakMay 30, 2023May 30, 2023