Existing-Home Sales, Lennar Hit Builders

Updated from 9:56 a.m. EDT

Lennar (LEN Quote) reported a second-quarter loss Thursday that was wider than expected, and the company said the homebuilding industry is likely to deteriorate further this year unless the U.S. government intervenes to help stimulate consumer demand for homes.

The homebuilder's quarterly loss totaled $121 million, or 76 cents a share, wider than the 55 cent per-share loss that analysts expected, according to Thomson Reuters. A year ago, Lennar reported a loss of $244 million, or $1.55 a share.

Lennar's revenue plunged 61% to $1.1 billion, a number that's slightly higher than Wall Street expected. ...