1017 ET - PulteGroup still sees a favorable setup for new home construction over the long-term. The Atlanta homebuilder cites the US economy having navigated recessionary concerns well, strong employment and interest in new homes remaining high. CEO Ryan Marshall on an earnings call adds a longstanding housing shortage, labor availability challenges and the company's expectation for continuing lower activity on the resale market, given higher mortgage rates, lead PulteGroup to believe that "new home supply will continue to be absorbed without a significant increase in standing inventory." PulteGroup is up 4.8%.(denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
January 30, 2025 10:17 ET (15:17 GMT)
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