0000795266false00007952662024-09-242024-09-24

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K 
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report: September 24, 2024
(Date of earliest event reported) 
KB HOME
(Exact name of registrant as specified in its charter)
Delaware1-919595-3666267
(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)
10990 Wilshire Boulevard
Los Angeles, California 90024
(Address of principal executive offices) (Zip Code) 
Registrant’s telephone number, including area code: (310) 231-4000
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange
on which registered
Common Stock (par value $1.00 per share)
KBH
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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Item 2.02 Results of Operations and Financial Condition.
On September 24, 2024, KB Home issued a press release announcing its results of operations for the three months and nine months ended August 31, 2024. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein.
The information in this report, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
104    Cover Page Interactive Data File (embedded within the Inline XBRL document).

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EXHIBIT INDEX
Exhibit No.  Description
99.1
104Cover Page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: September 24, 2024
 
KB Home
By:
/s/ Jeff J. Kaminski
Jeff J. Kaminski
Executive Vice President and Chief Financial Officer
 

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Exhibit 99.1




headera08a.jpg
FOR RELEASE, Tuesday, September 24, 2024  
For Further Information:
1:10 p.m. Pacific Time  Jill Peters, Investor Relations Contact
  (310) 893-7456 or jpeters@kbhome.com
  Cara Kane, Media Contact
  (321) 299-6844 or ckane@kbhome.com

KB HOME REPORTS 2024 THIRD QUARTER RESULTS
Revenues Increased 10% to $1.75 Billion; Diluted Earnings Per Share Up 13% to $2.04
Repurchased $150.0 Million of Common Stock
LOS ANGELES (September 24, 2024) — KB Home (NYSE: KBH) today reported results for its third quarter ended August 31, 2024.
“In the third quarter, we achieved strong year-over-year growth in both revenues and diluted earnings per share,” said Jeffrey Mezger, Chairman and Chief Executive Officer. “Net orders were flat with the year ago quarter. We experienced variability in demand across the quarter, with softening in late June through July, as buyers continued to evaluate elevated mortgage interest rates, and general economic concerns were rising. As rates moderated in August, our net orders improved. We are encouraged by this strengthening in demand for our affordably priced personalized homes, and the ongoing positive trend we are experiencing so far in our 2024 fourth quarter.”
“While we navigate current market dynamics, we continue to position our Company to accomplish our longer-term objectives of profitably expanding our scale and driving higher returns. At the same time, we are maintaining a balanced approach in redeploying our cash toward reinvesting in our growth and returning capital to our stockholders. In the third quarter, we increased our investment in land acquisition and development by more than 50% year over year, to nearly $850 million, while also repurchasing $150 million of our common stock. Over the first nine months of fiscal 2024, we have repurchased approximately 5% of our shares that were outstanding at the start of the year,” concluded Mezger.
Three Months Ended August 31, 2024 (comparisons on a year-over-year basis)
•Revenues grew 10% to $1.75 billion.
•Homes delivered increased 8% to 3,631.
•Average selling price rose 3% to $480,900.
•Homebuilding operating income increased 5% to $189.0 million. The homebuilding operating income margin was 10.8%, compared to 11.3%. Excluding total inventory-related charges of $1.2 million for the current quarter and $.6 million for the year-earlier quarter, the homebuilding operating income margin was 10.9%, compared to 11.4%.
◦The housing gross profit margin was 20.6%, compared to 21.5%. Excluding the above-mentioned inventory-related charges, the housing gross profit margin was 20.7%, compared to 21.5%. These decreases were mainly due to product and geographic mix.
◦Selling, general and administrative expenses as a percentage of housing revenues were 9.8%, compared to 10.2%, primarily reflecting increased operating leverage from higher housing revenues.



•Financial services pretax income grew 11% to $11.0 million, mainly due to increased equity in income of the Company’s mortgage banking joint venture. This reflected a higher volume of both loan originations and interest rate locks, as 88% of the buyers financing their home purchases in the current quarter used the joint venture, up from 84%.
•Net income rose 5% to $157.3 million. Diluted earnings per share grew 13% to $2.04, driven by higher net income and the favorable impact of the Company’s common stock repurchases over the past several quarters.
◦The effective tax rate was 24.2%, compared to 22.9%.
Nine Months Ended August 31, 2024 (comparisons on a year-over-year basis)
•Revenues increased 4% to $4.93 billion.
•Homes delivered were up 4% to 10,191.
•Average selling price was $481,400, compared to $479,200.
•Net income grew 6% to $464.4 million.
•Diluted earnings per share increased 15% to $5.94.
Backlog and Net Orders (comparisons on a year-over-year basis, except as noted)
•Net orders for the quarter were essentially the same at 3,085. Net order value increased 2% to $1.54 billion, reflecting a higher average selling price of net orders.
◦Monthly net orders per community were 4.1, compared to 4.3.
◦The cancellation rate as a percentage of gross orders improved to 15% from 21%.
•Ending backlog homes totaled 5,724, compared to 7,008. Ending backlog value was $2.92 billion, compared to $3.40 billion.
•The Company’s ending community count grew 10% to 254, and the average community count for the quarter increased 5% to 251. On a sequential basis, the ending community count was up 3%.
Balance Sheet as of August 31, 2024 (comparisons to November 30, 2023, except as noted)
•The Company had total liquidity of $1.46 billion, including $374.9 million of cash and cash equivalents and $1.08 billion of available capacity under its unsecured revolving credit facility, with no cash borrowings outstanding.
•Inventories grew by $515.3 million, or 10%, to $5.65 billion.
◦The Company’s investments in land and land development for the nine months ended August 31, 2024 increased 59% to $2.10 billion, compared to $1.32 billion for the year-earlier period.
◦The Company’s lots owned or under contract grew 24% to 69,279, of which approximately 58% were owned and 42% were under contract. By comparison, approximately 73% of the Company’s total lots were owned and 27% were under contract as of November 30, 2023.
•Notes payable of $1.69 billion were approximately the same. The Company’s debt to capital ratio improved 90 basis points to 29.8%, compared to 30.7%.
•Stockholders’ equity increased to $3.99 billion, compared to $3.81 billion, primarily reflecting higher net income that was partially offset by common stock repurchases and cash dividends.
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◦In the 2024 third quarter, the Company repurchased 1,869,292 shares of its outstanding common stock at a cost of $150.0 million, bringing its total repurchases in 2024 to 3,460,697 shares at a cost of $250.0 million, or $72.24 per share. The total repurchases represented approximately 5% of the Company’s outstanding common stock as of the beginning of the current fiscal year. As of August 31, 2024, the Company had $800.0 million remaining under its current common stock repurchase authorization.
◦Based on the Company’s 73.3 million outstanding shares as of August 31, 2024, book value per share of $54.37 expanded 13% year over year.
Guidance
The Company is providing the following guidance for its 2024 full year:
•Housing revenues in the range of $6.85 billion to $6.95 billion.
•Average selling price of approximately $490,000.
•Homebuilding operating income as a percentage of revenues in the range of 11.1% to 11.2%, assuming no inventory-related charges.
◦Housing gross profit margin in the range of 21.1% to 21.2%, assuming no inventory-related charges.
◦Selling, general and administrative expenses as a percentage of housing revenues of approximately 10.0%.
•Effective tax rate of approximately 23%.
•Ending community count in the range of 250 to 255.
The Company plans to also provide guidance for its 2024 fourth quarter on its conference call today.
Conference Call
The conference call to discuss the Company’s 2024 third quarter earnings will be broadcast live TODAY at 2:00 p.m. Pacific Time, 5:00 p.m. Eastern Time. To listen, please go to the Investor Relations section of the Company’s website at kbhome.com.
About KB Home
KB Home is one of the largest and most trusted homebuilders in the United States. We operate in 47 markets, have built over 680,000 quality homes in our more than 65-year history, and are honored to be the #1 customer-ranked national homebuilder based on third-party buyer surveys. What sets KB Home apart is building strong, personal relationships with every customer and creating an exceptional homebuying experience that offers our homebuyers the ability to personalize their home based on what they value at a price they can afford. As the industry leader in sustainability, KB Home has achieved one of the highest residential energy-efficiency ratings and delivered more ENERGY STAR® certified homes than any other builder, helping to lower the total cost of homeownership. For more information, visit kbhome.com.
Forward-Looking and Cautionary Statements
Certain matters discussed in this press release, including any statements that are predictive in nature or concern future market and economic conditions, business and prospects, our future financial and operational performance, or our future actions and their expected results are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and projections about future events and are not guarantees of future performance. We do not have a specific policy or intent of updating or revising forward-looking statements. If we update or revise any such statement(s), no assumption should be made that we will further update or revise that statement(s) or update or revise any other such statement(s). Actual events and results may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors. The most important risk factors that could cause our actual performance and future events and actions to differ materially from such forward-looking statements include, but are not limited to the following: general economic, employment and business conditions; population growth, household formations and demographic trends; conditions in the
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capital, credit and financial markets; our ability to access external financing sources and raise capital through the issuance of common stock, debt or other securities, and/or project financing, on favorable terms; the execution of any securities repurchases pursuant to our board of directors’ authorization; material and trade costs and availability, including the greater costs associated with achieving current and expected higher standards for ENERGY STAR certified homes, and delays related to state and municipal construction, permitting, inspection and utility processes, which have been disrupted by key equipment shortages; consumer and producer price inflation; changes in interest rates, including those set by the Federal Reserve, which the Federal Reserve has increased sharply over the past two years and may further increase to moderate inflation, and those available in the capital markets or from financial institutions and other lenders, and applicable to mortgage loans; our debt level, including our ratio of debt to capital, and our ability to adjust our debt level and maturity schedule; our compliance with the terms of our revolving credit facility and our senior unsecured term loan; the ability and willingness of the applicable lenders and financial institutions, or any substitute or additional lenders and financial institutions, to meet their commitments or fund borrowings, extend credit or provide payment guarantees to or for us under our revolving credit facility or unsecured letter of credit facility; volatility in the market price of our common stock; home selling prices, including our homes’ selling prices, being unaffordable relative to consumer incomes; weak or declining consumer confidence, either generally or specifically with respect to purchasing homes; competition from other sellers of new and resale homes; weather events, significant natural disasters and other climate and environmental factors, such as a lack of adequate water supply to permit new home communities in certain areas; any failure of lawmakers to agree on a budget or appropriation legislation to fund the federal government’s operations (also known as a government shutdown), and financial markets’ and businesses’ reactions to any such failure; government actions, policies, programs and regulations directed at or affecting the housing market (including the tax benefits associated with purchasing and owning a home, and the standards, fees and size limits applicable to the purchase or insuring of mortgage loans by government-sponsored enterprises and government agencies), the homebuilding industry, or construction activities; changes in existing tax laws or enacted corporate income tax rates, including those resulting from regulatory guidance and interpretations issued with respect thereto, such as Internal Revenue Service guidance regarding heightened qualification requirements for federal tax credits for building energy-efficient homes; changes in U.S. trade policies, including the imposition of tariffs and duties on homebuilding materials and products, and related trade disputes with and retaliatory measures taken by other countries; disruptions in world and regional trade flows, economic activity and supply chains due to the military conflict and other attacks in the Middle East region and military conflict in Ukraine, including those stemming from wide-ranging sanctions the U.S. and other countries have imposed or may further impose on Russian business sectors, financial organizations, individuals and raw materials, the impact of which may, among other things, increase our operational costs, exacerbate building materials and appliance shortages and/or reduce our revenues and earnings; the adoption of new or amended financial accounting standards and the guidance and/or interpretations with respect thereto; the availability and cost of land in desirable areas and our ability to timely and efficiently develop acquired land parcels and open new home communities; impairment, land option contract abandonment or other inventory-related charges, including any stemming from decreases in the value of our land assets; our warranty claims experience with respect to homes previously delivered and actual warranty costs incurred; costs and/or charges arising from regulatory compliance requirements, including the costs to implement recent federal and state climate-related disclosure rules, or from legal, arbitral or regulatory proceedings, investigations, claims or settlements, including unfavorable outcomes in any such matters resulting in actual or potential monetary damage awards, penalties, fines or other direct or indirect payments, or injunctions, consent decrees or other voluntary or involuntary restrictions or adjustments to our business operations or practices that are beyond our current expectations and/or accruals; our ability to use/realize the net deferred tax assets we have generated; our ability to successfully implement our current and planned strategies and initiatives related to our product, geographic and market positioning, gaining share and scale in our served markets, through, among other things, our making substantial investments in land and land development, which, in some cases, involves putting significant capital over several years into large projects in one location, and in entering into new markets; our operational and investment concentration in markets in California; consumer interest in our new home communities and products, particularly from first-time homebuyers and higher-income consumers; our ability to generate orders and convert our backlog of orders to home deliveries and revenues, particularly in key markets in California; our ability to successfully implement our business strategies and achieve any associated financial and operational targets and objectives, including those discussed in this release or in any of our other public filings, presentations or disclosures; income tax expense volatility associated with stock-based compensation; the ability of our homebuyers to obtain homeowners and flood insurance policies, and/or typical or lender-required policies for other hazards or events, for their homes, which may depend on the ability and willingness of insurers or government-funded or -sponsored programs to offer coverage at an affordable price or at all; the ability of our homebuyers to obtain residential mortgage loans and mortgage banking services, which may depend on the ability and willingness of lenders and financial institutions to offer such loans and services to our homebuyers; the performance of mortgage lenders to our homebuyers; the performance of KBHS Home Loans, LLC (“KBHS”); the ability and willingness of lenders and financial institutions to extend credit facilities to KBHS to fund its originated mortgage loans; information technology failures and data security breaches; an epidemic, pandemic or significant seasonal or other disease outbreak, and the control response measures that international, federal, state and local governments, agencies, law enforcement and/or health authorities implement to address it, which may precipitate or exacerbate one or more of the above-mentioned and/or other risks, and significantly disrupt or prevent us from operating our business in the ordinary course for an extended period; widespread protests and/or civil unrest, whether due to political events, social movements or other reasons; and other events outside of our control. Please see our periodic reports and other filings with the Securities and Exchange Commission for a further discussion of these and other risks and uncertainties applicable to our business.
# # #
(Tables Follow)
# # #
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KB HOME
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Three Months and Nine Months Ended August 31, 2024 and 2023
(In Thousands, Except Per Share Amounts – Unaudited)
Three Months Ended August 31, Nine Months Ended August 31,
2024202320242023
Total revenues$1,752,608 $1,587,011 $4,930,187 $4,736,641 
Homebuilding:
Revenues$1,745,979 $1,579,719 $4,909,189 $4,716,102 
Costs and expenses(1,557,029)(1,400,477)(4,374,380)(4,178,269)
Operating income 188,950 179,242 534,809 537,833 
Interest income and other
4,073 5,492 29,379 7,688 
Equity in income (loss) of unconsolidated joint ventures
3,453 (112)3,232 (1,182)
Homebuilding pretax income 196,476 184,622 567,420 544,339 
Financial services:
Revenues6,629 7,292 20,998 20,539 
Expenses(1,608)(1,530)(4,627)(4,360)
Equity in income of unconsolidated joint venture
5,932 4,149 19,422 11,157 
Financial services pretax income 10,953 9,911 35,793 27,336 
Total pretax income
207,429 194,533 603,213 571,675 
Income tax expense
(50,100)(44,600)(138,800)(131,800)
Net income
$157,329 $149,933 $464,413 $439,875 
Earnings per share:
Basic
$2.10 $1.86 $6.12 $5.34 
Diluted
$2.04 $1.80 $5.94 $5.18 
Weighted average shares outstanding:
Basic
74,476 80,175 75,339 81,790 
Diluted
76,630 82,732 77,565 84,332 
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KB HOME
CONSOLIDATED BALANCE SHEETS
(In Thousands – Unaudited)
August 31,
2024		November 30,
2023
Assets
Homebuilding:
Cash and cash equivalents$374,911 $727,076 
Receivables373,536 366,862 
Inventories5,648,930 5,133,646 
Investments in unconsolidated joint ventures62,984 59,128 
Property and equipment, net89,290 88,309 
Deferred tax assets, net113,775 119,475 
Other assets113,675 96,987 
6,777,101 6,591,483 
Financial services62,779 56,879 
Total assets$6,839,880 $6,648,362 
Liabilities and stockholders’ equity
Homebuilding:
Accounts payable$401,768 $388,452 
Accrued expenses and other liabilities757,928 758,227 
Notes payable1,691,060 1,689,898 
2,850,756 2,836,577 
Financial services2,030 1,645 
Stockholders’ equity3,987,094 3,810,140 
Total liabilities and stockholders’ equity$6,839,880 $6,648,362 
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KB HOME
SUPPLEMENTAL INFORMATION
For the Three Months and Nine Months Ended August 31, 2024 and 2023
(In Thousands, Except Average Selling Price – Unaudited)
Three Months Ended August 31, Nine Months Ended August 31,
2024202320242023
Homebuilding revenues:
Housing$1,745,979 $1,573,684 $4,905,617 $4,710,067 
Land— 6,035 3,572 6,035 
Total$1,745,979 $1,579,719 $4,909,189 $4,716,102 
Homebuilding costs and expenses:
Construction and land costs
Housing$1,385,563 $1,235,469 $3,872,092 $3,704,848 
Land— 4,911 2,101 4,911 
Subtotal1,385,563 1,240,380 3,874,193 3,709,759 
Selling, general and administrative expenses171,466 160,097 500,187 468,510 
Total$1,557,029 $1,400,477 $4,374,380 $4,178,269 
Interest expense:
Interest incurred$26,583 $26,810 $79,665 $80,609 
Interest capitalized(26,583)(26,810)(79,665)(80,609)
Total$— $— $— $— 
Other information:
Amortization of previously capitalized interest$28,180 $29,305 $83,872 $87,373 
Depreciation and amortization10,289 10,078 30,861 29,511 
Average selling price:
West Coast$661,400 $692,400 $667,600 $694,500 
Southwest459,300 418,800 452,400 431,100 
Central347,500 402,700 358,800 412,500 
Southeast412,200 389,200 415,600 394,100 
Total$480,900 $466,300 $481,400 $479,200 

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KB HOME
SUPPLEMENTAL INFORMATION
For the Three Months and Nine Months Ended August 31, 2024 and 2023
(Dollars in Thousands – Unaudited)
Three Months Ended August 31, Nine Months Ended August 31,
2024202320242023
Homes delivered:
 
 
West Coast1,150 732 3,021 2,320 
Southwest681 717 2,110 2,031 
Central1,073 1,258 2,971 3,495 
Southeast727 668 2,089 1,983 
Total3,631 3,375 10,191 9,829 
 
 
 
Net orders:
West Coast958 906 3,134 3,062 
Southwest616 656 2,099 1,915 
Central871 865 3,188 2,318 
Southeast640 670 1,984 1,880 
Total
3,085 3,097 10,405 9,175 
Net order value:
West Coast$678,783 $638,643 $2,214,666 $2,044,331 
Southwest290,229 296,811 967,880 819,543 
Central313,108 296,255 1,162,855 800,936 
Southeast261,028 280,671 811,841 749,087 
Total$1,543,148 $1,512,380 $5,157,242 $4,413,897 
August 31, 2024August 31, 2023
HomesValueHomesValue
Backlog data:
West Coast1,658 $1,223,121 2,029 $1,356,175 
Southwest1,368 629,995 1,576 692,175 
Central1,484 555,474 1,812 678,994 
Southeast1,214 510,714 1,591 668,045 
Total
5,724 $2,919,304 7,008 $3,395,389 




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KB HOME
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In Thousands, Except Percentages – Unaudited)
This press release contains, and Company management’s discussion of the results presented in this press release may include, information about the Company’s adjusted housing gross profit margin, which is not calculated in accordance with generally accepted accounting principles (“GAAP”). The Company believes this non-GAAP financial measure is relevant and useful to investors in understanding its operations, and may be helpful in comparing the Company with other companies in the homebuilding industry to the extent they provide similar information. However, because it is not calculated in accordance with GAAP, this non-GAAP financial measure may not be completely comparable to other companies in the homebuilding industry and, thus, should not be considered in isolation or as an alternative to operating performance and/or financial measures prescribed by GAAP. Rather, this non-GAAP financial measure should be used to supplement the most directly comparable GAAP financial measure in order to provide a greater understanding of the factors and trends affecting the Company’s operations.
Adjusted Housing Gross Profit Margin
The following table reconciles the Company’s housing gross profit margin calculated in accordance with GAAP to the non-GAAP financial measure of the Company’s adjusted housing gross profit margin:
Three Months Ended August 31, Nine Months Ended August 31,
2024202320242023
Housing revenues$1,745,979 $1,573,684 $4,905,617 $4,710,067 
Housing construction and land costs(1,385,563)(1,235,469)(3,872,092)(3,704,848)
Housing gross profits360,416 338,215 1,033,525 1,005,219 
Add: Inventory-related charges (a)1,177 631 3,685 10,207 
Adjusted housing gross profits $361,593 $338,846 $1,037,210 $1,015,426 
Housing gross profit margin
20.6 %21.5 %21.1 %21.3 %
Adjusted housing gross profit margin 20.7 %21.5 %21.1 %21.6 %
(a)    Represents inventory impairment and land option contract abandonment charges associated with housing operations.
Adjusted housing gross profit margin is a non-GAAP financial measure, which the Company calculates by dividing housing revenues less housing construction and land costs excluding housing inventory impairment and land option contract abandonment charges (as applicable) recorded during a given period, by housing revenues. The most directly comparable GAAP financial measure is housing gross profit margin. The Company believes adjusted housing gross profit margin is a relevant and useful financial measure to investors in evaluating the Company’s performance as it measures the gross profits the Company generated specifically on the homes delivered during a given period. This non-GAAP financial measure isolates the impact that housing inventory impairment and land option contract abandonment charges have on housing gross profit margins, and allows investors to make comparisons with the Company’s competitors that adjust housing gross profit margins in a similar manner. The Company also believes investors will find adjusted housing gross profit margin relevant and useful because it represents a profitability measure that may be compared to a prior period without regard to variability of housing inventory impairment and land option contract abandonment charges. This financial measure assists management in making strategic decisions regarding community location and product mix, product pricing and construction pace.
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v3.24.3
Cover
Sep. 24, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Sep. 24, 2024
Entity Registrant Name KB HOME
Entity Incorporation, State or Country Code DE
Entity File Number 1-9195
Entity Tax Identification Number 95-3666267
Entity Address, Address Line One 10990 Wilshire Boulevard
Entity Address, City or Town Los Angeles
Entity Address, State or Province CA
Entity Address, Postal Zip Code 90024
City Area Code 310
Local Phone Number 231-4000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Document Information [Line Items]  
Title of 12(b) Security Common Stock (par value $1.00 per share)
Trading Symbol KBH
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0000795266
Amendment Flag false
Document Type 8-K
Document Period End Date Sep. 24, 2024
Entity Registrant Name KB HOME
Entity Incorporation, State or Country Code DE
Entity File Number 1-9195
Entity Tax Identification Number 95-3666267
Entity Address, Address Line One 10990 Wilshire Boulevard
Entity Address, City or Town Los Angeles
Entity Address, State or Province CA
Entity Address, Postal Zip Code 90024
City Area Code 310
Local Phone Number 231-4000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
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