PulteGroup Exceeds Q3 Profit Expectations Amid High Demand for Expensive Homes
Q3 net income reached $2.92 per share, with a 2% increase in the average sales price of homes; revenue rose by 3% from a year earlier amidst housing shortage driving demand.
- PulteGroup reported a Q3 net income of $2.92 per share, exceeding Wall Street's expected average of $2.84.
- Despite higher prices, demand for new housing constructions remained robust due to a shortage of existing homes on the market.
- The increase in the average selling price of PulteGroup's homes by 2% to $549,000 has contributed to its Q3 earnings.
- Revenue for the homebuilder increased by 3% from the previous year, reaching $4 billion in the third quarter.
- The company mentioned that a mix of various locations, price points, floor plans and incentive packages enables them to meet customer needs while tackling current affordability issues.
Reuters 
Washington Post 
