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Lennar Is Just the Latest Housing Disappointment. Its Stock Is Dropping.

·2 min read
Lennar Is Just the Latest Housing Disappointment. Its Stock Is Dropping.
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Monday was a bad day for housing after D.R. Horton (ticker: DHI) lowered its quarterly sales guidance—and Tuesday doesn’t look much better after Lennar (ticker: LEN) missed sales expectations for the third quarter after the close. Supply constraints are to blame, and home builder stocks are falling. Lennar reported earnings for the third quarter and missed sales expectations, but beat EPS estimates.