TMHC - Most homebuilder stocks in the red as Redfin Compass embark on layoffs

D.R. Horton (NYSE:DHI) -0.5%, KB Home (NYSE:KBH) -1.4%, Hovnanian Enterprises (HOV) -2.2% among a slew of homebuilder stocks are sliding in Tuesday afternoon trading. The intraday selling pressure comes as real estate brokerages Redfin (NASDAQ:RDFN) and Compass (NYSE:COMP) both announced a reduction to headcount.  The layoffs come as signs of a cooling housing market start to emerge, with mortgage applications falling to the lowest in over two decades amid rising mortgage rates. And with home prices hovering around historical highs, conditions in the purchase market continue to wane, especially for first-time homebuyers. Other homebuilders: PulteGroup (PHM +0.2%), Lennar (LEN -1.0%), Beazer Homes (BZH -0.5%), Tri Pointe Homes (TPH -1.3%), NVR (NVR -0.3%), Taylor Morrison Home (TMHC +0.4%) and Meritage Homes (MTH -1.9%). As for the broader stock market, the Dow Jones (DJI) -0.5% and S&P 500 (SP500) -0.3% are extending their losing streaks, while the tech-heavy Nasdaq (COMP.IND) +0.2% manages to stay afloat.  Towards the end of April, homebuilders urged the White

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Most homebuilder stocks in the red as Redfin, Compass embark on layoffs