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U.S. home prices in July rose for the third straight month, surpassing forecasts and suggesting that the housing market is stabilizing after a three-year plunge.
KB Home reported a narrower loss, aided by fewer write-downs and improved margins, as the company continued to see improvement in orders for new homes.
U.S. home prices rose a seasonally adjusted 0.3% in July, the Federal Housing Finance Agency said, as some of the worst-hit housing markets showed signs of recovering.