Homebuilder shares fall after NVR, Pulte post lower quarterly profit

Homebuilder stocks fall after PulteGroup (PHM.N) and NVR (NVR.N) report lower quarterly profit

S&P 500 homebuilders' index (.SPLRCHOME) down 2.3%; broader PHLX housing index (.HGX) down 1.2%

NVR shares fall 3.3%, making it one of the biggest losers in the S&P 500 consumer discretionary sector (.SPLRCD)

Co's Q2 EPS falls 23% to $83.96, vs analysts' estimate of $89.98 per share; revenue falls more than 10% year-on-year to $2.28 bln, missing expectations of $2.39 bln, according to LSEG-compiled data

PulteGroup down 2.6% after reporting Q2 EPS of $2.48, above Street expectations but down from last year's $3.03 per share; revenue falls to $3.98 bln from $4.40 bln last year

Overall, market conditions remain highly competitive as macroeconomic uncertainty, volatile interest rates and strained affordability weigh on housing demand, but there are early signs that conditions may be stabilizing in select geographies around the country - PulteGroup CEO Ryan Marshall

Homebuilders M/I Homes (MHO.N) and KB Home (KBH.N) fall more than 2%, Lennar (LEN.N) down 1.8%