NEW YORK ( TheStreet) -- The foundations for the 11 homebuilders in the PHLX Housing Sector Index were shaken on Thursday on a report that sales of new single-family homes during June missed estimates.
Also on Thursday, earnings from homebuilders D.R. Horton (DHI - Get Report) and PulteGroup (PHM - Get Report) missed analysts' estimates. Since my post on June 18 covering the 19 stocks in the housing sector index, shares of D.R. Horton are down 6.6%, followed by Lennar (LEN), which is down 4.9%, and Toll Brothers (TOL), which is down 4.6%.
Bigger losses in the index come from Radian Group (RDN) and Owens Corning (OC), which are both down 14% since June 17. Radian provides private mortgage insurance and Owens provides insulation, roofing and siding.
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