The outlook for the US real estate market is not optimistic. Lennar Corporation and Horton Homes were downgraded by Citigroup
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US residential builders Lennar Homes and Horton Homes were downgraded by Citigroup as the US real estate market is expected to remain sluggish. Citigroup also lowered the target prices of several other residential builders. Analysts noted that while an expected rate cut by the Federal Reserve may help economic recovery, housing permits, starts, sales, and prices are all below expectations. The stock prices of Lennar Homes and Horton Homes fell to their lowest levels since December last year
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