Pulte Homes reports record first quarter revenues
April 27, 2006
Pulte Homes recorded $3 billion in first quarter revenue, or 18 percent more than in 2005, the company announced. It had 8,602 home closings at an average price of $336,000. Sale prices increased 9 percent in the first quarter due to changes in the mix of houses closed combined with higher asking rates.
“We continue to implement initiatives in support of our core business strategies: market share expansion through diversification, operational excellence, people development and financial discipline,” Richard J. Dugas, Jr., president and CEO of Pulte Homes, said in a statement. “By focusing on these key business drivers, Pulte Homes delivered solid first quarter operating and financial results, while ending the quarter with a strong balance sheet and well positioned land pipeline.”
Net new home orders for the quarter were $3.7 billion (representing 10,725 homes), a four percent decrease, but the company’s backlog was still valued at $7.1 billion, which is about $600 million higher thanin 2005. Pulte last year was the Las Vegas Valley’s fourth largest builder with 1,891 new home closings.
The company recently broke ground on a new 2,014-acre master-planned community in Mesquite, 80 miles northeast of Las Vegas. The development, called Anthem Mesquite, will consist of 4,600 single-family, detached homes built around an 18-hole golf course.
The first residences are expected to open in spring 2008, with anticipated build-out by 2013. Anthem Mesquite will have about 10,000 residents when completed, effectively doubling the city’s current population.
If you are planning to relocate in the Las Vegas area, contact us for a prompt response to any questions you have about the Las Vegas real estate market. We invite you to visit our website to view updated daily listings of Las Vegas homes at Free Las Vegas Homes MLS Search