KB Home sees Q1 housing revenue $1.45B-$1.55B

Sees Q1 average selling price $501,000. Sees Q1 SG&A expense ratio 10.5%-10.9%. Sees Q1 tax rate 23%. Sees Q1 community count 260 communities. Says longer-term housing market is favorable. Says missed internal sales goals. Says consumers are hesitant due to discomfort with volatility of rates. Says 60% of net orders have some sort of mortgage concession. Says has backlog of more than 4,400 homes valued at $2.1B. Comments and guidance taken from Q4 earnings conference call.