CNNMoney reports homebuilder D. R. Horton (DHI) missed revenue estimates in the third quarter 2012, but notched a profit that beat estimates. Meanwhile, Beazer Homes (BZH) exceeded its revenue expectations but its quarterly loss was more than anticipated, as it’s stock dropped nearly 14 percent. Horton’s shares fell 3.5 percent. The Standard & Poor’s Homebuilders ETF (exchange traded fund) was down nearly one percent for the day, continuing a slide from last week. As MHProNews has learned, many housing stocks have done well this year, but it may just be in anticipation of the worst being over.
(Image credit: Joshua Scott/CNNMoney)