From Dow Jones & Company:

Homebuilder KB Home sees increase in orders over first several weeks of Q1 due to dip in mortgage rates. CEO Jeffrey Mezger reports a “meaningful” sequential increase in net orders for Q1. Company beats expectations in Q4, but signals potential fall in home prices for upcoming year. Shares of KBH slipped by 1.1% after hours following earnings release. Net income for Q4 down to $150.3 million, with revenue at $1.67 billion. Homes delivered fell by 10% and average home price decreased to $487,300. For fiscal year ahead, KB Home expects average selling price of $480,000 to $490,000 and housing revenues of $6.4 billion to $6.8 billion.



Read more: KB Home says buyers are ‘responding favorably’ to falling mortgage rates