Hovnanian Enterprises Earnings Disappoint, Dragging Down Housing Stocks

Hovnanian Enterprises' poor earnings led to a 23% drop in its shares, impacting other housing stocks. D.R. Horton fell 2.6%, Lennar dropped 4.8%, PulteGroup lost 1.9%, Toll Brothers slipped 1.2%, and KB Home tumbled 2.5%. The home builder's struggles raised concerns about the housing market.