Pultegroup Profit and Revenue Fall on Weak Demand
The homebuilder reported a quarterly profit of $1.79 per share as revenue fell to $3.41 billion. High prices and economic concerns continue to impact sales volumes.
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PULTEGROUP INC reported a decline in both profit and revenue for the first quarter on Thursday, as persistent inflation and economic uncertainty dampened homebuyer demand. The homebuilding industry continues to face significant headwinds, including years of underproduction, labor shortages, and restrictive zoning laws that have collectively driven property prices beyond the reach of many potential buyers.
