A government report on new home construction and building permit applications for June is forecast to show declines as builders scrapped development plans amid the ongoing housing slump.

Home builders' business outlook plunged this month to the lowest level since record keeping began more than 20 years ago, reflecting worsening industry conditions as the housing slump, rising gas prices and sagging consumer confidence combine to undermine the sales of new homes.

A reading of housing developers' sentiment about the U.S. market is expected to remain at its all-time low in July.

Centex Corp. on Thursday said its board declared a quarterly dividend of 4 cents.

Shares of Centex Corp. jumped Wednesday after an analyst upgraded the homebuilder's stock, saying the current price is an attractive entry point.

Housing stocks plunged Monday after a media report said a Federal Reserve official expects home prices and construction spending to continue to fall well into 2009.

Four of the nation's largest homebuilders have agreed to pay $4.3 million in fines for failing to control runoff at construction sites in 34 states and the District of Columbia.

U.S. home builders, struggling under sinking demand and a credit crisis, now face a fresh obstacle: competition from a flood of homes in foreclosure.

A reading of U.S. homebuilders' sentiment remained unchanged in April, just shy of its record low for the third consecutive month as the housing market failed to recover.

Homebuilder DR Horton tried to kill two birds with one stone this past weekend: unloading inventory and cleaning up the image of the housing market -- at least in a few towns in Southern California. The company held a first-come, first-served “Un-Auction."