KB Home

{{redirect|Kaufman & Broad|the French former subsidiary|Kaufman & Broad S.A.}}

{{Infobox company

| name = KB Home

| logo = Logo - KB Home.svg

| caption =

| former_name = Kaufman and Broad Home Corporation

| type = Public

| traded_as = {{ubl|{{NYSE|KBH}}|S&P 400 component}}

| fate =

| predecessor =

| successor =

| foundation = {{Start date and age|1957}}

| founders = {{Unbulleted list |Donald Bruce Kaufman | Eli Broad }}

| defunct =

| location_city = Westwood, Los Angeles, California

| location_country = U.S.

| locations =

| area_served =

| key_people = Jeffrey T. Mezger (chairman and CEO)

| industry = Homebuilding

| products =

| services =

| revenue = {{nowrap|{{increase}} {{US$|6.93 billion|link=yes}} (2024)}}

| operating_income = {{nowrap|{{increase}} US$764 million (2024)}}

| net_income = {{nowrap|{{increase}} US$655 million (2024)}}

| aum =

| assets = {{nowrap|{{increase}} US$6.94 billion (2024)}}

| equity = {{nowrap|{{increase}} US$4.06 billion (2024)}}

| owner =

| num_employees = 2,384

| num_employees_year = 2024

| parent =

| divisions =

| subsid =

| homepage =

| footnotes = {{Cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/795266/000079526625000014/kbh-20241130.htm |title=FY 2024 Annual Report (Form 10-K) |date=January 24, 2025 |publisher=U.S. Securities and Exchange Commission}}

}}

File:KB Home HQ.jpg

KB Home is an American homebuilding company founded in 1957 as Kaufman & Broad in Detroit, Michigan. It was the first company to be traded on the New York Stock Exchange as a home builder. Its headquarters are in Los Angeles, California.

The company has built 600,000 homes since its founding.{{Cite web|date=2019-03-12|title=KB Home announces grand opening of new Bradenton community {{!}} Business Observer|url=https://www.businessobserverfl.com/article/kb-home-avaunce-bradenton-grand-opening-community|access-date=2020-12-22|website=Business Observer|language=en}} It builds homes primarily for first-time home buyers.

History

= 1956–2007 =

KB Home was founded in Detroit in 1956 by Donald Bruce Kaufman and Eli Broad.[https://books.google.com/books?id=u10EAAAAMBAJ&pg=PA145&lpg=PA145 Los Angeles Magazine: "A Little Thing Called Power - He has more pull than the mayor, more art than the Getty, and more money than God. Does Eli Broad own LA?" by Ed Leibowitz] June 2003 Their first venture together was the construction of two model homes in the Northeast Detroit suburbs, where a new generation of first-time home buyers were flocking. By streamlining the construction process and eliminating basements, offering a carport instead, they could price the houses so the monthly mortgage would be less than the rent for a two-bedroom apartment. Kaufman and Broad christened this model the "Award Winner" and priced it at $13,700.{{cite news |last1=Bruck |first1=Connie |title=The Art of the Billionaire |url=https://www.newyorker.com/magazine/2010/12/06/the-art-of-the-billionaire |access-date=11 July 2020 |work=The New Yorker |date=December 10, 2010}} After one weekend, seventeen were sold and within two years, Kaufman and Broad had built 600 homes in the Detroit suburbs.

In 1960, fearing that the Detroit economy was too dependent on the automotive business, they moved to Phoenix, Arizona and expanded into California in 1963, and in 1967 were the first U.S. homebuilders to expand into France. The company completed an initial public offering in 1986, and from that time was known as Kaufman and Broad Home Corporation until 2001, when its name was shortened to KB Home.

The company has periodically acquired other homebuilders as it expanded into new markets. These purchases included New Mexico-based Opnel Jenkins in 1995, San Antonio-based Rayco Homes in 1996, Tucson, Arizona-based Estes Homes in 1998, and Upland, California-based Colony Homes in 2003. It also maintained a division in France, which was sold in 2007.{{Citation needed|date=January 2023}}

File:KB Home team at Jared Allen Homes for Wounded Warriors Frame Signing.jpg

As part of a promotion, in 1997 the company built a life-sized replica of The Simpsons cartoon home in Henderson, Nevada.{{Cite web|url=https://www.avclub.com/a-visit-to-what-was-once-the-real-life-simpsons-house-i-1798287084|title=A visit to what was once the real-life Simpsons house in Nevada|last=Blevins|first=Joe|website=News|language=en-US|access-date=2019-01-18}} It has since engaged in homebuilding promotions with Martha Stewart (2005), The Walt Disney Company (2008) and The Ellen DeGeneres Show (2012).{{Citation needed|date=January 2023}}

In 2001 KB Home was sued when homeowners in a subdivision in Arlington, Texas discovered that their homes were built on top of a practice bombing range from the 1940s and 50s which the military had cleared for development. That suit has since been settled. The Army Corps of Engineers was engaged in remediation.

?{{cite news |title= Home builder dispute intensifies |url= http://www.wfaa.com/s/dws/wfaa/bharris/stories/wfaa050228_am_arlhome.f33c02bb.html |publisher= WFAA-TV |first= Byron |last= Harris |date= March 1, 2005 |access-date= June 23, 2007 |archive-url= https://web.archive.org/web/20070930202422/http://www.wfaa.com/s/dws/wfaa/bharris/stories/wfaa050228_am_arlhome.f33c02bb.html |archive-date= September 30, 2007 |url-status= dead |df= mdy-all }}

In November 2006, KB Home president, CEO, and chairman Bruce Karatz resigned after an internal accounting probe into his alleged backdating of stock options. KB Home also announced the resignation of its head of human resources, Gary A. Ray, and the resignation of its chief legal officer, Richard B. Hirst. The company determined that Karatz and Ray had picked grant dates under the company's stock option plans. According to the Wall Street Journal, Karatz was one of the most highly paid executives in 2005, earning almost $156 million, primarily from options.{{cite news| url=http://www.foxnews.com/story/0,2933,229040,00.html | work=Fox News | title=KB Home CEO Bruce Karatz Out Amidst Stock Options Review | date=November 13, 2006}}

In 2006, Karatz was succeeded by Jeffrey T. Mezger as CEO.[http://www.marketwatch.com/news/story/Story.aspx?guid=%7B32AA66A2%2DEBEC%2D472D%2D89CB%2DD1B87D78433E%7D&siteid= KB Home CEO resigns after backdating probe – MarketWatch]

= 2008–present =

In April 2008, KB Home published its first sustainability report, which outlined the company's environmental, social responsibility and economic sustainability accomplishments. The company has since produced this report annually for 15 years, with the latest report released in April 2022.{{Cite web|last=McManus|first=John|date=2020-04-29|title=Genz will loom large in housing's 2020 recovery: How pandemics and climate connect|url=https://www.builderonline.com/builder-100/leadership/genz-will-loom-large-in-housings-2020s-recovery-how-pandemics-and-climate-connect_o|website=Builder Online}}{{Cite web |title=KB Home Releases 15th Annual Sustainability Report, Detailing Industry-leading Sustainability Efforts to Build Better Homes, Better Communities and a Better Future |url=https://www.yahoo.com/lifestyle/kb-home-releases-15th-annual-120000265.html |access-date=2023-01-06 |website=www.yahoo.com |language=en-US}}

The company was named "Most Admired Homebuilder" by Fortune in 2006, 2008, 2009, and 2011.

KB Home was ranked #1 Overall Green Builder by Calvert Investments in 2010.{{cite web|date=November 2010|title=A Survey of Sustainable Practices by the Homebuilding Industry|url=http://www.calvert.com/NRC/literature/documents/BR10068.pdf?litID=BR10068|url-status=dead|archive-url=https://web.archive.org/web/20120118083921/http://www.calvert.com/NRC/literature/documents/BR10068.pdf?litID=BR10068|archive-date=2012-01-18|access-date=2012-07-06|publisher=Calvert Investments}}

In March 2011, KB Home, in partnership with SunPower, introduced its first community with solar as a standard feature.{{Cite web|last=Lazo|first=Alejandro|date=2011-03-22|title=KB Home to test demand for solar power|url=https://www.latimes.com/business/la-xpm-2011-mar-22-la-fi-kb-solar-20110322-story.html|access-date=2020-11-10|website=Los Angeles Times|language=en-US}}

In fiscal year 2012, the company delivered 6,282 homes in the United States and had revenue of over $1.5 billion. This revenue figure is down from 2005 (at the height of the real estate boom), when the company delivered close to 40,000 homes and had more than $9 billion in revenue.

In 2016 KB Home settled a multi-million dollar lawsuit with the Florida Attorney General's Office for shoddy and defective construction repairs on homes that were built wrong in the first place.{{cite news |last1=Paluska |first1=Michael |title=KB Home settles multi-million dollar lawsuit |url=https://www.abcactionnews.com/news/kb-home-settles-multi-million-dollar-lawsuit-with-florida-attorney-general |access-date=1 December 2022 |agency=ABC Action News |date=11 February 2016}}

In January 2019, KB Home, in partnership with Builder Magazine, built a model home called KB Home ProjeKt, in Henderson, Nevada. The home was intended to showcase sustainability, smart home technology and home building technology that supports the occupant's mental, emotional and physical health, like circadian cycle lighting, antimicrobial paint and smart air purifiers.{{Cite web|last=Sharf|first=Samantha|title=Builder KB Home To Offer ‘Wellness’ Software As Smart Home Race Heats Up|url=https://www.forbes.com/sites/samanthasharf/2019/01/07/builder-kb-home-to-offer-wellness-software-as-smart-home-race-heats-up/|access-date=2020-12-22|website=Forbes|language=en}}{{Cite web|last=Hanel|first=Stan|date=2019-01-18|title=KB showcase Google Home|url=https://www.reviewjournal.com/homes/new-homes/kb-showcase-google-home-1576547/|access-date=2020-12-22|website=Las Vegas Review-Journal|language=en-US}}

In February 2020, KB Home partnered with former Minnesota Vikings defensive end Jared Allen’s Homes 4 Wounded Warriors and built a mortgage-free new home for veterans of the U.S. Air Force who sustained combat-related injuries in Afghanistan and Iraq.{{Cite web|last=Blumberg|first=Perri Ormont|title=Married Military Heroes Gifted Accessibility-Friendly Home in San Antonio|url=https://www.southernliving.com/news/kb-home-jared-allen-homes-wounded-warriors-san-antonio-home|access-date=2020-12-22|website=Southern Living|language=EN}}

In August 2020, KB Home introduced the KB Home Office, a partially customizable home office package targeting remote workers.{{Cite web |last=Hunter |first=Brad |title=Developing Trend: New Homes Will Include Personalized Home Offices |url=https://www.forbes.com/sites/bradhunter/2020/08/05/developing-trend-new-homes-will-include-personalized-home-offices/ | work=Forbes | date=August 5, 2020}}

In October 2020, KB Home was recognized by the United States Environmental Protection Agency and awarded its WaterSense Sustained Excellence Award. This was the fourth consecutive year in which KB Home received the award.{{Cite web|last=Shaver|first=Les|date=2016-10-17|title=EPA Recognizes KB Home|url=https://www.architectmagazine.com/technology/epa-recognizes-kb-home_s|access-date=2020-12-22|website=www.architectmagazine.com}}{{Cite web |date=2020-04-22 |title=KB Home Emit its 13th Annual Sustainability Report |url=https://www.builderonline.com/design/kb-home-emits-its-13th-annual-sustainability-report_o |access-date=2020-12-22 |website=www.builderonline.com}}

In April 2022, KB Home earned its 12th Energy Star Partner of the Year – Sustained Excellence Award.{{Cite web |last=Greene |first=Kimberly |title=Which builder delivers the most energy-efficient homes? |url=https://www.mpamag.com/commercial/which-builder-delivers-the-most-energyefficient-homes-195401.aspx |access-date=2020-12-22 |website=www.mpamag.com}}{{Cite web |title=KB Home Earns 12th ENERGY STAR Partner of the Year – Sustained Excellence Award |url=https://www.yahoo.com/lifestyle/kb-home-earns-12th-energy-201000081.html |access-date=2023-01-06 |website=www.yahoo.com |language=en-US}} In July, the company confirmed plans to build homes in California, Nevada, and Arizona to meet the Environmental Protection Agency’s WaterSense specifications.{{Cite web |date=2022-07-21 |title=L.A.-based developer to build water-saving homes in the Southwest |url=https://www.ocregister.com/2022/07/20/builder-plans-to-install-epa-rated-water-saving-fixtures-in-every-southwestern-home-it-builds |access-date=2023-01-06 |website=Orange County Register |language=en-US}} In November, the company announced it had established the first all-electric solar and battery-powered microgrid community in California.{{Cite web |last=Johnson |first=Peter |date=2022-11-02 |title=The first all-electric community powered by a solar and battery microgrid launches in California |url=https://electrek.co/2022/11/02/the-first-electric-solar-and-battery-microgrid-community-in-ca/ |access-date=2023-01-06 |website=Electrek |language=en-US}} The following month, Newsweek listed KB Home as one of America’s Most Responsible Companies for environmental and social responsibilities.{{Cite web |title=KB Home Named One of America’s Most Responsible Companies |url=https://www.valdostadailytimes.com/ap/business/kb-home-named-one-of-america-s-most-responsible-companies/article_7f489a63-0953-54d9-9418-a8662f9d637b.html |access-date=2023-01-06 |website=Valdosta Daily Times |language=en}}

In October 2023, KB Home announced that it is moving forward to build 800 homes on San Jose’s Communications Hill.{{Cite web |date=2023-10-12 |title=KB Home Plans 800 Homes on San Jose’s Communications Hill |url=https://therealdeal.com/sanfrancisco/2023/10/12/kb-home-plans-800-homes-on-san-joses-communications-hill/ |access-date=2023-10-14 |website=The Real Deal |language=en}}

GreenHouse

KB Home built the company's first net-zero-energy home in January 2011. The GreenHouse was designed by KB Home and Martha Stewart and was featured as the "Idea Home" at the International Builders Show that year.{{cite news|last=Koch|first=Wendy|title=Martha Stewart Goes Green with KB Home Project|url=http://content.usatoday.com/communities/greenhouse/post/2011/01/martha-stewart-goes-green-with-kb-home-project/1|newspaper=USA Today|date=January 12, 2011}} The house is located in Windermere, Florida.{{cite web|last=Defendorf|first=Richard|title=KB Home GreenHouse and Martha Stewart Styling Share the Spotlight at IBS|url=http://www.greenbuildingadvisor.com/blogs/dept/green-building-news/kb-home-greenhouse-and-martha-stewart-styling-share-spotlight-ibs|publisher=Green Building Advisor from the Taunton Press, Inc.}}

ZeroHouse 2.0

The successor to the GreenHouse is the ZeroHouse 2.0, which combines energy efficiency measures and solar panels to achieve net-zero energy usage.{{cite web|last=Defendorf|first=Richard|title=KB Home's ZeroHouse 2.0|url=http://www.finehomebuilding.com/item/20412/kb-homes-zerohouse-20|publisher=The Taunton Press|date=September 20, 2011}} Introduced in 2011, the first model ZeroHouse 2.0 was built in Tampa, FL, closely followed by models in San Antonio and Austin, TX.

KB Home expanded the ZeroHouse 2.0 to the Mid-Atlantic states in June 2012 with the unveiling of the first of its kind in Waldorf, Maryland. The 4,000-square-foot model home project was completed with the installation of a 40-panel SunPower system by Solar Energy World.{{cite web|last=Dobson|first=Amy Rose|title=A New 'ZeroHouse' in Waldorf, Maryland|url=http://dc.curbed.com/archives/2012/07/a-new-zerohouse-in-waldorf-maryland.php|publisher=Curbed|access-date=6 July 2012|date=July 5, 2012}}

Awards and recognition

WaterSense Sustained Excellence Award - 2017,2018,2019, 2020
5th, Builder Top 100 - 2019{{cite web |title=2019 Builder Magazine "Builder 100" |url=https://www.builderonline.com/builder-100/builder-100-list/2019/ |access-date=8 May 2019 |website=builderonline.com |publisher=The Builder}}
5th, Builder Top 100 - 2020{{Cite web |date=2021 |title=2020 Builder List |url=https://www.builderonline.com/builder-100/builder-100-list/2020/ |website=builderonline.com}}
7th, Builder Top 100 - 2021{{Cite web |date=2020 |title=2021 Builder List |url=https://www.builderonline.com/builder-100/builder-100-list/2021/ |website=builderonline.com}}
6th, Builder Top 100 - 2022{{Cite web |date=2022 |title=2022 Builder 100 |url=https://www.builderonline.com/builder-100/builder-100-list/2022/ |website=builderonline.com}}
6th, Builder Top 100 - 2023{{Cite web |date=2023-10-11 |title=KB HOME NAMED TO FORTUNE’S 2023 CHANGE THE WORLD LIST |url=https://www.builderonline.com/builder-100/kb-home-named-to-fortunes-2023-change-the-world-list_o |website=builderonline.com}}
Fortune's Change the World list - 2023
Energy Star Partner of the Year – Sustained Excellence Award - 2022