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PulteGroup, Inc.’s Florida Surge Sparks A New Regional Growth Story; But What’s The Upside?

PulteGroup, Inc. reported second quarter 2026 results that reflected measured growth in orders alongside ongoing efforts to optimize inventory and maintain strong margins amid a challenging macroeconomic environment. Net new home orders increased 6% compared to the same quarter last year, driven by across-the-board growth in buyer segments including a 12% rise in active-adult orders and a 5% increase among first-time buyers. The company continued its strategic shift toward build-to-order (BTO) homes, which accounted for 45% of new orders in the quarter, up from 39% a year earlier, supporting a reduction in finished spec inventory to 1.3 homes per community. Revenue from home sales was down 8% year-over-year, totaling $3.8 billion, primarily due to an 8% decrease in closings and a 3% decrease in average sales price to $544,000. Pricing was influenced by mix shifts as PulteGroup saw fewer closings in higher-priced Northeast and Western regions, where demand remained softer.