Many of the company’s buyers are purchasing homes in subdivisions along the East Coast, PulteGroup said in a statement today. In 2012, developments from northern Virginia to Florida represented 37% of its home closings and 43% of its year-end invested capital. Additionally, 92% of PulteGroup’s investments are outside of its midwestern markets, up from 72% 12 years ago, writes Bloomberg.
Chief Executive Officer Richard Dugas said in the statement:
"We have historically managed our growth from Michigan, but the company has reached a point where we must pursue a strategy that better fits with the long-term growth trends. This relocation will bring us closer to our customers and a larger portion of our investment portfolio."Sponsor Content