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KAUFMAN AND BROAD HOME CORP. CONTINUE TO EXPERIENCE SURGE IN NEW HOME SALES

 KAUFMAN AND BROAD HOME CORP. CONTINUE TO
 EXPERIENCE SURGE IN NEW HOME SALES
 LOS ANGELES, Aug. 19 /PRNewswire/ -- Kaufman and Broad Home Corp. (NYSE: KBH), California's largest single-family home builder, today said that its California home building operations continue to experience a surge in new home sales in the state, with net orders up 130 percent, to 1,017 units in the first 11 weeks of the company's fiscal third quarter ending Aug. 31, 1992. Net orders in the comparable period of 1991 totaled 443 units.
 The current strength in the company's California sales follows net order improvements of 13 percent and 18 percent in the first and second quarters of 1992, respectively. As a result of these improvements, the company's California backlog of sold, undelivered homes has increased to more than 1,500 units, some one-third higher than the year-earlier level. A substantial portion of these homes will be delivered in the fourth quarter of 1992.
 The company also said that operating results from its home building and commercial development operations in metropolitan Paris continue to weaken, hurt by a poor economy and unusually high interest rates. Under these conditions, according to the company, continued improvement in California is unlikely to offset a declining contribution from its French businesses during the third quarter. The company said it expects third quarter earnings to be higher than the first and second quarters of 1992 but 20 percent to 30 percent below the year-earlier period. Kaufman and Broad earned $6.9 million, or $.21 per common share in the third quarter of 1991.
 The company added, however, that based on the current strong order pattern in California, earnings results for its fourth quarter are likely to exceed those achieved in the fourth quarter of 1991.
 The company also said it intends to sell $100 million of senior notes in connection with the shelf registration filing announced last week.
 Los Angeles-based Kaufman and Broad Home Corp. is the largest producer of single-family housing in California and the largest builder in metropolitan Paris, where the company develops commercial office properties and a variety of residential investment properties in addition to single-family homes.
 -0- 8/19/92
 /CONTACT: Eileen Rose of Kaufman and Broad, 310-443-8041/
 (KBH) CO: Kaufman and Broad Home Corp. ST: California IN: CST SU:


AL-EH -- LA016 -- 1319 08/19/92 11:49 EDT
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Publication:PR Newswire
Date:Aug 19, 1992
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