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PulteGroup Home Index Survey: Americans' Appetite To Buy New Homes Increases As View On Economy Trends More Positive

Stocks in this article: PHM

BLOOMFIELD HILLS, Mich., May 1, 2014 /PRNewswire/ -- For a majority of Americans, their outlook on today's economy is brighter and their attitude toward buying a home is trending positive, according to the latest PulteGroup Home Index Survey (PGHI) by PulteGroup, Inc. (NYSE: PHM), one of the nation's largest homebuilders.

PGHI Survey: Home Purchase Behavior

As 74 percent of adults feel the economy has remained steady or improved in the last year, this confidence is impacting overall purchasing behavior with 57 percent of adults thinking now is a good or excellent time to purchase the items they want or need.

Specifically, their appetite for entering the housing market is improving.  The survey revealed that 67 percent of respondents plan to purchase a home in the future, of which 32 percent are looking to buy within the next two years.  Millennials and move-up buyers represent the most engaged consumer segments, 85 percent and 71 percent, respectively, intending to purchase a home in the future.  Consistent with past PulteGroup baby boomer surveys and national trends, 50 percent of those aged 55 and older are looking to purchase a home in the future.

"For the first time in years, Americans have a growing sense of optimism that the housing market is improving, and that these positive changes may be sustainable," said Margaret Gramann, senior vice president of sales for PulteGroup, Inc., which builds homes under the Centex, Pulte Homes and Del Webb brands.  "This favorable outlook is giving them the confidence to pursue more meaningful, big-picture life opportunities they may have otherwise put on hold."

According to Gramann, buyer optimism has translated into good traffic throughout its communities, with buyers who are willing to write contracts.  In its first quarter financial results, the Company reported absorption paces were up for its Del Webb and Centex business; brands that cater to the baby boomers and millennials.

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