Ryland Group Inc. said Wednesday that its second-quarter loss narrowed significantly as the home builder took fewer charges related to the continued soft housing market. Even so, the results fell below Wall Street’s expectations.

After the markets closed, the Calabasas company reported a net loss of $73.7 million ($1.70 per share), compared with a net loss of nearly $242 million (-$5.70) a year ago. Revenue fell 44 percent to $272 million. The quarter included $47.3 million in charges for inventory adjustments and write-offs about a quarter of the charges taken a year ago.

Analysts surveyed by Thomson Reuters on average expected a loss of $1.04 per share on revenue of nearly $305 million.

Homebuilding revenue fell more than 44 percent to nearly $262 million. There were fewer closings and the average home price fell more than 5 percent to $240,000. New orders fell nearly 20 percent to about $405 million.

A day after the announcement, Ryland shares closed down $1.24, or 6 percent, to $19.24 Thursday on the New York Stock Exchange.