U.S. Markets close in 3 hrs 39 mins

Home builders Lennar, KB Home both missed on Q1 revenue. Here's what that means for the housing market

Lennar Corp. reported Q1 EPS of $0.74, $0.02 worse than the analyst estimate of $0.76. Revenue for the quarter came in at $3.9 billion versus the consensus estimate of $4.11 billion. Ken Leon, an equity analyst at CFRA Research, joins "Squawk Box" to give his analysis of the housing market following these earnings result.