Homebuilders Bring Down The House Following June Pending Home Sales

Major US home builders move lower after June's Pending Home Sales (MoM) released below consensus expectations 0.50 percent, releasing at -1.10 percent for the month of June, coming in 7.20 percent lower than May's release of 6.10 percent. The Ryland Group, Inc. RYL - nearly 4 percent Lennar Corporation LEN - 2.76 percent Toll Brothers Inc TOL - nearly 2 percent KB Home KBH - 2.36 percent D.R. Horton, Inc. DHI - 2.13 percent PulteGroup, Inc. PHM - 1.55 percent