Shares in local homebuilders hit new lows Monday as investors anticipated more bad news to hit the beleaguered market.

Reports on sales of existing and new homes are scheduled to be released Tuesday and Thursday, respectively. Economists are forecasting declines of more than 4 percent for both indicators.

Shares in Los Angeles-based homebuilder KB Home tumbled 5.6 percent, or $1.53 per share, after analysts said they expect the company to post a loss of 67 cents per share when it reports its third-quarter earnings on Thursday. Shares in KB hit a new 52-week low Monday of $25.71 less than a week after gaining 15 percent following the surprise rate cut by the Federal Reserve.

Shares in Calabasas-based homebuilder Ryland Corp. also dropped 5.6 percent, or $1.34, to a new 52-week low of $22.57 Monday. Shares in Ryland gained as much as 14 percent following the rate cut last week.

Although the rate cut helped temporarily, the housing market still faces serious problems; from declining home prices and a tightened lending market to decreased buyers and an abundance of unsold homes sucking profit, analysts said.

“Following on the heels of a very weak August housing starts and permits report and a new record low in home-builder confidence, more bad news on home sales is expected this week,” wrote Barrington Research analyst Alexander Paris in a research report Monday.