The stock dropped 5% to $15.82 as of 12:27 p.m. in New York. Earlier today, it fell as much as 7.3%, the biggest decline in intraday trading since June 11. The 11-member Standard & Poor’s homebuilder index gained 0.2%. 

KB Home’s “order trends were disappointing,” Vincent Foley, a credit analyst with Barclays Plc, wrote in a note to investors today.