Pulte buys lots, eyes new locations

Pulte Homes said it has purchased or is in escrow on 332 lots in three East Valley locations with plans to begin opening new communities later this year if current buyer demand holds up. The most-recent acquisition represents the third residential-land purchase Pulte has made in the past six months in the Phoenix metro area, the company said. "Our acquisition strategy has been focused on securing new community assets in outstanding locations to drive incremental home closings and better returns," said John Chadwick, president of PulteGroup's Arizona Division. "These new community opportunities are in some of the best locations in the Valley." Pulte Homes is part of Bloomfield Hills, Mich.-based PulteGroup Inc., which also owns the Del Webb and Centex brands. Pulte has 34 actively selling subdivisions in 17 communities in the Phoenix area and is the current sales leader for new-home closings with a 12 percent market share.

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