Updated from 4:55 p.m. EDT Pulte Homes ( PHM ) and Ryland Group ( RYL ) each reported steep second-quarter losses, as expected, as land impairment charges and higher selling costs cut into the homebuilders' profits. Both companies continue to face negative headwinds from falling home prices, which are making previous land investments unprofitable and leading to big charges. The lack of visibility in the housing market is causing builder management teams to refrain from issuing full-year guidance -- a move that Pulte and Ryland followed in their earnings reports. However, analysts expect both companies to lose money for the entire year, according to Thomson Financial. Pulte reported a second-quarter loss of $507.5 million, or $2.01 a share, compared with profit of $243 million, or 94 cents a share, a year earlier. The loss was in line with the company's projection last week of $2 to $2.10 per share.