According to Business Insider, Homebuilding giant PulteGroup reported Q3 net income of $117 million or $0.30 per share. This was a big improvement from last year’s $0.34 net loss.
According to Pulte CEO, Richard Dugas: “In past cycles, the U.S. housing industry proved to be a powerful engine that could help drive the economy forward and accelerate the pace of a recovery. A similar scenario could again be unfolding, as the industry is responding to increased sales by hiring additional workers and purchasing more building materials. While we are mindful of any potential impact from global or domestic economic issues, we are optimistic that the combination of ever higher rental rates, record low interest rates and limited housing supply can continue to support the improved housing demand.
Read more: Business Insider Pulte Group Article
In Charlotte, we have seen an increase in closing and a decrease in inventory pointing towards a very minor switch from a buyers market to a sellers market. However, we are very mindful of the still looming Charlotte Foreclosures and Lake Norman Foreclosures that still impacts the ‘everyday’ Charlotte area seller.
