D.R. Horton Inc., the largest U.S. home builder, and Pulte Homes Inc., the second largest, reported quarterly losses this week and said the outlook for the housing market remains difficult.

"Market conditions … are still challenging, characterized by rising foreclosures, high inventory levels of available homes, increasing unemployment, tight credit for homebuyers and weak consumer confidence," D.R. Horton's chairman, Donald Horton, said in a press release issued Tuesday.

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