Homebuilder KB Home says new home orders up 25 percent in the first quarter versus a year ago

Economic Indicators Associated Press

KB Home says its orders for new homes in the first quarter jumped 25 percent compared with the same period a year ago.

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The homebuilder says it received 1,499 orders in the quarter that ended last week, up from 1,201 a year earlier. In all, it says its orders were worth $519.2 million, up 26 percent from $413.7 million a year ago.

KB Home says it is optimistic about the spring home buying season.

Shares of Los Angeles-based KB Home rose 2.9 percent to $14.02 in afternoon trading Wednesday.