The Real Deal Miami

Lennar loss widens

March 31, 2009 12:43PM

Miami-based homebuilder Lennar lost 98 cents a share in the first quarter of the year, worse than Wall Street analysts expected. The builder, the country’s fourth largest, said it had to write down the value of its land holdings and reported a 28 percent drop in orders for new homes. The U.S. Commerce Department reported a 41 percent decline in new home sales for February.