PulteGroup Inc. (NYSE:PHM): Highlights From Home Index Survey


Dallas, Texas 05/15/2014 (FINANCIALSTRENDS) –PulteGroup, Inc. (NYSE:PHM) is primarily engaged in homebuilding and financial services businesses and is one of the largest homebuilders in the U.S. The group recently conducted “PulteGroup Home Index Survey” and analysis of the survey data revealed that attitude of majority of American is trending positive with regards to buying a home, largely driven by their positive outlook on today’s economy.

PulteGroup Home Index Survey:

The survey revealed that 74% of adults see the steadiness or some improvement in the economy over the past year and 57% adults feel this is a good / excellent time to buy the items they need or want. The survey suggested that 67% of respondents plan to buy a home in the future and among them 32% are looking to purchase within two years. Among the most engaged consumer segments, 85% millennial buyers and 71% move-up buyers intend to buy a home in the future. Among those aged 55 or more, 50% are looking to buy a home in the future.

According to the PulteGroup, Inc. (NYSE:PHM)’s survey, owning a home as a financial investment and need for more space, are the two key drivers to buying a home. Around 70% of home buyers plan to spend as much or even more money on their next home. About 64% prefer to spend more on a ready-for-possession home rather than renovating and spending less. Among adults who wish to spend more on their next home, 51% want to upgrade its finishes and 56% want to increase its size.

Stock Update:

On Wednesday, the stock of PulteGroup closed at $18.72, losing nearly 2% from its previous close. The stock is down 7% year to date and over 19% over past 12 month period. The company is committed to advance its value creation strategy and has also recently announced executive promotions to ensure critical leadership to such initiatives.