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Top related persons:
Andrew Kelly - 1 Carl Reichardt - 1 Matthew Bouley - 1 James Egan - 1 Morgan Stanley - 1 Egan - 1 homebuilders - 1 BTIG's Reichardt - 1
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Morristown Morristown , New Jersey U.S Bengaluru
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Lennar Corporation - 1 REUTERS - 1 Federal Reserve Economic - 1 Lennar - 1 PulteGroup Inc - 1 U.S . Census - 1 National Association of Realtors - 1 Barclays - 1

Search resuls for: "PulteGroup Inc"


4 mentions found


☆ Large US homebuilders raise prices as existing home supply remains tight
  + stars: | 2023-08-25 | by ( Ananta Agarwal | ) www.reuters.com   time to read: +3 min
It is thereby squeezing the pool of existing homes, which are typically more affordable than new construction. Public homebuilders on average have raised prices in about two-thirds of their communities, said BTIG analyst Carl Reichardt. This comes as the pricing gap between existing and new homes has narrowed, following a price appreciation in the resale market. "When the existing home market is seeing a price appreciation, it supports pricing power for new construction." However, as a consequence of recovery in new construction prices since last year, "affordability is close to its worst levels in at least the last three decades," said James Egan, Morgan Stanley housing strategist.
Persons: Andrew Kelly, Carl Reichardt, Matthew Bouley, James Egan, Morgan Stanley, Egan, homebuilders, BTIG's Reichardt, Ananta Agarwal, Shinjini Organizations: Lennar Corporation, REUTERS, Federal Reserve Economic, Lennar, PulteGroup Inc, U.S . Census, National Association of Realtors, Barclays, Thomson Locations: Morristown, Morristown , New Jersey, U.S, Bengaluru
☆ Homebuilder PulteGroup's quarterly profit beats estimates on higher house prices
  + stars: | 2023-01-31 | by ( ) www.reuters.com   time to read: +1 min
Jan 31 (Reuters) - U.S. homebuilder PulteGroup Inc (PHM.N) on Tuesday beat Wall Street estimates for quarterly profit on the back of higher house prices in a tightening market. Higher prices have helped U.S. homebuilders offset the impact from rising prices of commodities, labor shortages and ongoing supply chain disruptions over the past year. Pulte's sales rose nearly 19% to $5.17 billion for its fourth quarter ended December 31, 2022. The homebuilder's quarterly net income rose to $882 million, or $3.85 per share from $663 million, or $2.61 per share, a year earlier. Analysts, on average, had expected PulteGroup's quarterly net income to be $2.93 per share on a revenue of $4.59 billion, according to Refinitiv.
☆ Housing Industry Braces for a Downturn, but Investors Are Piling In
  + stars: | 2022-11-20 | by ( Karen Langley | Ben Eisen | ) www.wsj.com   time to read: 1 min
Investors are seizing on any sign inflation has peaked as a reason to snap up beaten-down shares. Just look at housing stocks. Redfin Corp. shares have soared more than 50% since Nov. 9 when the real-estate brokerage’s chief executive warned, “We have to assume that the sun will never come up.” Shares of home builder PulteGroup Inc. have gained 11% over the same period, despite its CEO recently describing a widespread pullback in demand as interest rates climbed.
☆ Home-Builder Stocks Stage Big Rebound
  + stars: | 2022-11-16 | by ( Hardika Singh | ) www.wsj.com   time to read: 1 min
Shares of home builders, building-products and appliance companies are rebounding, outperforming the broader stock market, after mortgage rates eased off their recent highs. The SPDR S&P Homebuilders exchange-traded fund rose 8.9% in the past week, recently posting its strongest run since April 2020. PulteGroup Inc. has added 12%, building materials supplier Builders FirstSource Inc. has climbed 5.2% and appliances maker Whirlpool Corp. has gained 9.2%, all beating the benchmark S&P 500 index, which has risen 4.3%.
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