KB Home, one of the largest homebuilders home country, said Friday he has swinging to a loss in the first quarter, the turnover of business at home as a low amid a worsening market ’s property forced the company to a large write-down home face of declining prices.

Its shares fell more than 4 percent in early morning trade.

Jeffrey Mezger, KB Home’s President and Chief Executive, said a growing supply of new housing stock and not on the mortgage market close and led at the bottom of the industry expects selling prices and margins compressed during the quarter.