Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Marlett Wendy L
 2. Date of Event Requiring Statement (Month/Day/Year)
04/02/2009		 3. Issuer Name and Ticker or Trading Symbol
KB HOME [KBH]
(Last)
(First)
(Middle)
C/O KB HOME, 10990 WILSHIRE BOULEVARD		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SVP, Sales, Mark. & Comm.
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

LOS ANGELES, CA 90024		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 11,043
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Options (right to buy)   (1) 10/30/2016 Common Stock 10,000 $ 13.95 D  
Non-Qualified Stock Options (right to buy)   (1) 10/07/2017 Common Stock 13,334 $ 21.51 D  
Non-Qualified Stock Options (right to buy)   (1) 10/07/2017 Common Stock 6,666 $ 23.13 D  
Non-Qualified Stock Options (right to buy)   (1) 10/24/2018 Common Stock 3,734 $ 33.24 D  
Non-Qualified Stock Options (right to buy)   (1) 10/24/2018 Common Stock 7,466 $ 33.92 D  
Non-Qualified Stock Options (right to buy)   (1) 10/22/2019 Common Stock 10,000 $ 45.68 D  
Non-Qualified Stock Options (right to buy)   (1) 10/18/2015 Common Stock 2,000 $ 69.63 D  
Phantom Shares 07/11/2010 07/11/2010 Common Stock 9,326 $ (2) D  
Phantom Shares 10/04/2010 10/04/2010 Common Stock 10,677 $ (2) D  
Phantom Shares 10/03/2011 10/03/2011 Common Stock 6,282 $ (2) D  
Stock Appreciation Rights   (3) 07/12/2017 Common Stock 9,624 $ 36.19 D  
Stock Appreciation Rights   (4) 10/04/2017 Common Stock 12,295 $ 28.1 D  
Stock Appreciation Rights   (5) 10/02/2018 Common Stock 56,832 $ 19.9 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Marlett Wendy L
C/O KB HOME
10990 WILSHIRE BOULEVARD
LOS ANGELES, CA 90024		       SVP, Sales, Mark. & Comm.  

Signatures

/s/ Tony Richelieu, Attorney-in-Fact for Wendy L. Marlett 04/09/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The Non-Qualified Stock Options are fully vested and exercisable. They vested in three equal annual installments beginning on the anniversary of the date of grant.
(2) Each Phantom Share is the economic equivalent of one share of KB Home common stock and vests in full three years after date of grant. At vesting, each Phantom Share will be paid out in cash.
(3) The Stock Appreciation Rights vest(ed) in three equal annual installments beginning on July 12, 2008, and will be paid out in cash upon exercise.
(4) The Stock Appreciation Rights vest(ed) in three equal annual installments beginning on October 4, 2008, and will be paid out in cash upon exercise.
(5) The Stock Appreciation Rights vest in three equal annual installments beginning on October 2, 2009, and will be paid out in cash upon exercise.
 
Remarks:
Exhibit List:
Exhibit 24 - Power of Attorney

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