by Calculated Risk on 6/25/2010 11:33:00 AM

On the conference call this morning, Jeffrey Mezger, president and chief executive officer of KB Home said the month of May was "particularly challenging" for the housing industry.

Paraphrasing ..

What KB Home saw in May - historically a strong month - was that home buyers stepped out of the market. Post tax credit traffic dropped like a rock in May.

Not having any problem closing by June 30th. No need to extend tax credit closing date.

Tax credit has added additional uncertainty to the mix. A lack of predictability in sales could impact profitability this year (CR translation: expect more losses).

Q&A just started ...

On the current quarter (ended May 31st) from MarketWatch: KB Home shares fall on 'disappointing' results