Dive Brief:
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The country’s third-largest home builder reported Thursday that it met Wall Street expectations for the third quarter, even though profits were down.
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PulteGroup, which boosted its dividend by about 60%, attributed its performance to higher average selling prices and a continually improving economy.
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Although the builder’s new orders, profits, and closings dipped slightly from the prior quarter, the average value of the orders was higher.
Dive Insight:
Pulte, which took new orders for 3,779 homes during the quarter, builds a range of housing, from entry-level units to retirement communities through its subsidiary Del Webb. Its performance is held by many analysts and economists as a barometer of the health of the housing sector.