Beazer Homes USA Inc. on Friday posted a narrower loss in its fiscal third quarter as the builder slashed expenses in the face of a 42 percent drop in orders for new homes.

There was some positive news for home shoppers, however, as home prices continued to decline. The average price of a Beazer home declined almost 9 percent in the quarter to $257,400.

The Atlanta-based company posted a loss of $109.8 million, or $2.85 a share, for the quarter that ended June 30. That compares with a loss of $118.7 million, or $3.09 a share, in the same period last year.

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