Market Overview

KB Home Announces the Grand Opening of Greenlawn Village in Round Rock

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Builder offers spacious new homes in desirable, commuter-friendly
location, priced from the $230,000s

KB Home (NYSE:KBH) today announced the grand opening of Greenlawn
Village in Round Rock. Located near the intersection of Interstate
Highway 35 and State Highway 45, and convenient to State Highway 130,
Greenlawn Village offers a quick commute to major Austin-area employers.

"We think Greenlawn Village will be a fantastic community for families
to call home," said Ken Langston, president of KB Home's Austin
division. "Round Rock has so much to offer in terms of suburban living
and conveniences, as well as recreational opportunities, including the
many parks and trails in nearby Pflugerville."

Homebuyers at Greenlawn Village can enjoy proximity to many local and
regional retail centers and attractions. The dining and retail
establishments at La Frontera Square and the Stone Hill Town Center are
just minutes away, while Round Rock Premium Outlets is within a
twenty-minute drive. Nearby 645-acre Old Settlers Park hosts many
special events throughout the year, and features sport courts and
fields, picnic areas, playgrounds, walking trails, and a disc golf
course. Sports fans can take in a game at Dell Diamond, home of the
Round Rock Express, and the whole family can enjoy splashing around at
the Rock'N River Waterpark. Children living in Greenlawn Village will be
able to attend Pflugerville ISD schools.

KB Home plans to construct 220 homes at Greenlawn Village. Homebuyers
can choose from 17 one- and two-story floor plans that range in size
from 1,353 square feet to 2,898 square feet and can accommodate up to
six bedrooms and three-and-a-half bathrooms. Nine foot ceilings, flex
spaces, and ample storage are among the desirable design elements that
distinguish the KB homes at Greenlawn Village. Lot selection, exterior
style and interior décor and features can be tailored to each buyer's
own lifestyle and budget at the KB Home Studio.

As with all KB homes, those offered at Greenlawn Village will be built
to ENERGY STAR® guidelines and include WaterSense® labeled faucets and
fixtures, meaning they are designed to be more energy- and
water-efficient than most typical new and resale homes available in the
area.

Grand opening festivities for Greenlawn Village, including tours of two
new model homes, will be held beginning at 10 a.m. on Saturday, August
5, 2017. Refreshments will be available on site for visitors to enjoy.
Greenlawn Village's sales office is open daily: Monday through Thursday
from 10 a.m. to 6:30 p.m., Fridays from Noon to 7 p.m., Saturdays 10
a.m. to 7:00 p.m. and Sundays from 11 a.m. to 7 p.m.

The KB Home Sales Center and model park for Greenlawn Village is located
at 17111 Gibbons Path (Greenlawn Blvd. and E. Pflugerville Pkwy) Round
Rock, Texas 78664. In addition to Greenlawn Village, KB Home is
currently open for new home sales at 27 other Austin metro-area
locations including Pflugerville, Taylor, Georgetown, San Marcos, Kyle
and Manor. For more information about Greenlawn Village or KB Home's
other new home neighborhoods visit www.kbhome.com
or call 888-KB-HOMES.

About KB Home

KB Home (NYSE:KBH) is one of the largest homebuilders in the United
States, with nearly 600,000 homes delivered since our founding in 1957.
We operate in 36 markets in 7 states, primarily serving first-time and
first move-up homebuyers, as well as active adults. We are
differentiated in offering customers the ability to personalize what
they value most in their home, from choosing their lot, floor plan, and
exterior, to selecting design and décor choices in our KB Home Studios.
In addition, we are an industry leader in sustainability, building
innovative and highly energy- and water-efficient homes. We invite you
to learn more about KB Home by visiting www.kbhome.com,
calling 888-KB-HOMES, or connecting with us on Facebook.com/KBHome
or Twitter.com/KBHome.

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