KB has made a huge bet on CA. It's their largest market outside of Texas. They built more homes in CA in 2011 than any other builder and they are on track to do the same in 2012. They are buying land and developing mini-communities of a 100 to 200 homes in some of the priciest and most-desirable neighborhoods in LA, SF Bay Area, and San Diego. This will place an upward pressure on their average sales price going forward.
revisions - from 313,000 to 353,000? That's a 12.7% upward revision.