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KB Home (KBH) Stock Retreating as Pending Home Sales Fall

NEW YORK (TheStreet) -- Shares of KB Home (KBH - Get Report) are down by 5.04% to $13 in midday trading on Thursday, as home builder stocks tumble due to the unexpected decline in pending U.S. home sales.

Contract signings to acquire previously owned homes slipped in September by the most since the end of 2013, Bloomberg reports. That signals that the residential real estate market's recent rise is slowing.

KB Home is a Los Angeles-based home building company that constructs and sells homes in some parts of the U.S. The company is made up of four home building segments and one financial services segment.

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Pending home sales fell by 2.3% in September, following a 1.4% decline for August, according to the National Association...


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