you, And everyone. afternoon, Thank Jill. good
outbreak. the adapt changing as COVID-XX deals creative country with finding to the We to ways are conditions
this from unprecedented our social community families. of are today, different team locations. I our and partners our office of customers health is priority times well-being and to main and practicing business Jeff are continues distancing. be and The While employees, the their These rest and of call the on in
withdrawing our first given excellent year. market guidance today are reporting that footprint, for our quarter current strong conditions, momentum are across we this results we While showed
follow how our uncertain taking approach this these standard actions positioning sales COVID-XX quarterly focus design process model my to for are to on We earnings to we the of than our the calls, will public. are last challenges, Rather the temporarily responding it. centers, the began we early strength navigate remarks today our general studios week homes environment and manage closing to the of through and related
During customers. safety to time, and and appointment protocols following help employees of shifted we have only, appropriate to the ensure our this health
and to our stop comfort We or home sales device tools plans give home online design are mobile floor the including leveraging studio ability customers tours, their safety of also from an virtual computer. to and the Interactive video personal new for
customers addition, we are phone, email, tool. FaceTime, engaging by also In online other actively and Skype with
Month-to-date are digital to up XX%, visits website our nearly We efforts. in to to both increased XX% our to are compared up an respective response prior-year leads and over their as periods. are conversions seeing March, sales
have corporate the temporary shifted office functions working remotely. and have changes at to division In also we addition communities, our to our made we
and well orders. situation activity. categorizing on restrictions there construction, the Disease Prevention, commonly follow and usually and the Control it as shelter activities the Centers We monitor essential in called as markets, residential these are as guidance In will authorities. continue to our of local place exempt orders, of most state for But an
return Our plan truly focused we of type with been progress to company we tremendous growth KB Home. past disruption. three years this have under deal better ever our has positioned over The the perhaps transformed is made than
a over We has balance in solid margin, no a are a gross now and which with goodwill liquidity. more larger, higher profitable billion by $X.X company sheet supported
XXXX. quarter, both in to progress to Our year-end in and years, improved and few past leverage first the continued steadily the ratio relative has year-over-year
have we as better our our the assets inventory. addition, ongoing reduction discipline as a land, in of a inactive well of result in as mix acquiring both In
acquisition approach communities preferred that median a supply points has on household are with attainable Our income. price submarkets land year by primarily lots that year focused to of provide in to roughly two the one
the homebuyers Our In represented lot owned challenging safety, including a and XX-months at of is many health. reasons last own on housing place more times, supply, the essential a even based end year of first need of quarter our deliveries. for their X.X these an security as want
net economy, relative period. our interest of with and weeks mortgage with interest comparable resale strong limited up March the fueled held first rates and Throughout the demand steady X% first to homebuyer two inventory, together low year orders the quarter, a for prior
news the sales and to as now a temporarily with and week third Traffic I mentioned X% intensified net our Coronavirus we slowed quarter-to-date period. earlier. orders centers, down closed compared March, As year the of the cumulative of as prior in sales
currently home go start. when to forward is rate after could here. have and personalizing in our home and then from time with are of purchases, evolve how healthy devoted selecting at buyers We both mortgage our approval. we studios, obtaining built design to they this process reduce options their their order in as given their change structural we to cancellations, cancellation start the With our believe on Our along helps depending plans lot risk floor business although our our rates cancellation our invested XX% model, conditions quarter-to-date, order
model, to process. this us we Under acquisition of a mortgage KBHS built to the spec regular remain an capture starts prior contact gives We of to support business land us pace and inventory goal, At the up the the well customers, and manage relative period. the not to communicate XX% to our JV model Operationally, spend end and to sales also our our billion, our delivery X,XXX predictability with backlog as to better $X.X its through closing mitigating avenue our sales. quarter, as buyers align allows additional minimizing to demand backlog, both and targeted built with homes our our services scale in development with order and high to year to rate, and value first year-over-year in risk. a with increased our
rotated our to footage our expanded In we product in the have addition, having down choices in have offerings square promote communities. the affordability, buyers already
leadership variety economic long managed Our team a cycles. has tenured of through company successfully the
benefits One of is this of experience the to to learning many quickly adapt conditions. market changing
prudent housing surrounding extent Given cash impact which US to duration the uncertainties strategic our the focused the on we and with being and COVID-XX resources. are will market, both
with homes cash quarter-to-date closely with outflows. close year, ahead of monitoring period the we of to us deliveries continue are We inflows and providing last comparable our cash
now. have land As and such, acquisition curtailed development we land for
many and developers And services. found have accommodating dates. businesses government generally in be health closing land and we sellers public interrupted This has to crisis extending
pace. We shifting development are targeted aligned our to land of more to sales also phases
with of and are and long-standing working many developers have our we our business. collaboratively with them manage We sellers thoughtfully land to and relationships carefully
had the quarter, resilience quarter. remained in and weeks In excellent closing, first our demand of we early second an
these right daily that in with strong good Although the desire across consistency. that sheet, strength a sense to the our the for do the with priorities our team a points data liquidity, experienced and are homeownership. are business, strong they solid We of focused communicating rearview ensure of well on positioned mirror, is leadership are we balance an organization we provide believe,
provides effective mitigates model In have flexibility and risk. and addition, a an business built strategy we core that to order
way. participated employees our who Home determination company thank their I hash for want who company this for dedication our stabilization We at eyewear the our support industry ability also in forward across to progress protective our to look have of country, uncertainty. campaign under these Builderscare and along market I our confident supplies. each heroic lead and and to our all by our KB team's I'm healthcare and the desperately colleagues contributing to call period would our trade of responded on our eventual need updating to customers thank the the conditions you partners, who like masks and other. workers of from in tag to through national the
the over turn I'll the review. call Jeff? to now Jeff for financial that, With
