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 MIAMI (AP) - Lennar Corp.'s struggles may not be over any time soon, with the housing market showing no signs of recovery. The Miami-based company, one of the nation's leading homebuilders, said Tuesday it stumbled to a second-quarter loss as inventories of unsold homes rose. The company cut prices and offered more incentives to attract skittish buyers.
Lennar also warned that it would likely post a loss through at least the third quarter.
"As we look to our third quarter and the remainder of 2007, we continue to see weak, and perhaps deteriorating, market conditions," Lennar President and Chief Executive Stuart Miller said.
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