Why PulteGroup Stock Rose Today

Shares of PulteGroup (NYSE: PHM) climbed 4.7% on Thursday, following the release of the homebuilder's second-quarter results. 

PulteGroup's home sale revenue rose 3% year over year to $2.5 billion. The gains were driven by a 6% rise in closings, to 5,937 homes, which was partially offset by a 3% decline in its average sale price to $416,000.

"Following a period of demand weakness beginning in late March and into April as COVID-19 first impacted the country, new home sales experienced a material acceleration as the second quarter progressed," CEO Ryan Marshall said in a press release.

Continue reading

Source Fool.com