DR Horton warned on Thursday that there was no end in sight for the US housing slump, as it became the latest US homebuilder to report to a quarterly loss.

The largest US homebuilder by sales lost $824m in its third quarter, down from a profit of $293m last year, as sales plunged and the company was forced to write down the value of many of its properties. Revenues fell by 29 per cent to $2.55bn.