PulteGroup

History

Early history

In 1950, at the age of 18 years, William J. Pulte, began building and selling houses. In 1956, he formed the company, Pulte Homes, Inc which was based in Bloomfield Hills, Michigan. In 1998, the company acquired Divosta for an estimated $150 million, and it also acquired Radnor Homes for an undisclosed amount.

Since 2000

In 2001, Pulte Homes, Inc acquired Del E. Webb Construction Company, founded by Del Webb, for $1.8 billion. In 2003, the company acquired Sivage-Thomas Homes. In 2009, the company acquired Centex for $1.3 billion in stock. In August 2014, the company acquired the real-estate assets of Dominion Homes for $82 million.

The company changed its name from Pulte Homes, Inc. to PulteGroup, Inc. in March 2010. In 2013, PulteGroup launched Built to Honor program, which provides homes to veterans with disabilities from the Army, Marine Corps, Navy, Air Force, and Coast Guard, as well as Gold Star families in 18 U.S. states.

In 2016, the company acquired some homebuilding assets of John Wieland Homes and Neighborhoods, a premier builder of luxury homes. In April 2019, the company acquired the homebuilding operations of American West Homes for $150 million.

Since 2020

In 2025, PulteGroup expanded its Del Webb brand to introduce Del Webb Explore in California and Florida. The company has also partnered with Fastbrick Robotics to build homes in Florida using a robotic construction technology.

In February 2025, PulteGroup expanded its Build Your Future SkillPointe Scholarship program, with a $100,000 investment to support individuals from diverse backgrounds who are pursuing careers in residential homebuilding and technologies. In May 2025, the organization’s Built to Honor Program completed its 100th home.

Financials

Legal affairs

Stucco defects in Florida homes

In 2019, after an investigation by Florida Attorney General Ashley Moody, Pulte agreed to pay $4.7 million in restitution and make repairs to houses it sold in Florida that had cracks in stucco applied to a wood frame, stucco delamination, and improper installation of weep screed.

Dismissed lawsuit regarding propping up sale prices

In October 2009, a class-action lawsuit was filed by Steve Berman accusing the company of artificially propping up house sales prices and contributing to the United States housing bubble. The lawsuit was dismissed by the court.

2009 allegations of systematic construction defects

On March 26, 2009, Building Justice, a project of the International Union of Painters and the Sheet Metal Workers International Association, with support from the AFL-CIO, released the report of a survey of 872 Pulte and Del Webb home owners in Arizona, Nevada, and California, in which 63% of respondents reported construction defects in their homes. The report "Poorly Built by Pulte, No Different at Del Webb: Homeowner Dissatisfaction in Arizona, Nevada, and California" was published on the project's website.

References

References

1. (July 22, 2024). "PulteGroup promotes insider to fill retiring CFO’s seat". CFO Dive.
2. (February 6, 2025). "PULTEGROUP, INC. 2024 Form 10-K Annual Report". [[U.S. Securities and Exchange Commission]].
3. "PulteGroup Revenue 2010-2022".
4. (2023). "The Top 100".
5. "The Top 100". [[Hanley Wood]].
6. (20 February 2025). "PulteGroup Pilots Innovative New Construction Process". FBR.
7. "Fortune 500: PulteGroup". [[Fortune (magazine).
8. (September 8, 2016). "PulteGroup appoints Ryan Marshall as new CEO". [[USA Today]].
9. Szczesny, Joseph. (February 16, 2010). "Founder of Pulte Homes resigns after 60 years". [[The Oakland Press]].
10. (July 2, 1998). "Pulte Expands Southeast Operations By Buying Divosta". [[The New York Times]].
11. (May 27, 1998). "Radnor Homes sold". [[American City Business Journals]].
12. Umberger, Mary. (May 2, 2001). "Pulte Homes to buy rival Del Webb for $1.8 billion". Chicago Tribune.
13. (July 2, 2003). "Pulte buys Sivage-Thomas Homes". [[American City Business Journals]].
14. (August 18, 2009). "Pulte Homes and Centex Shareholders Overwhelmingly Approve Merger". [[Business Wire]].
15. Clifford, Catherine. (April 8, 2009). "Pulte Homes in $3.1 billion merger". cnn.com.
16. (October 24, 2014). "Dominion Homes assets brought $82.7 million in sale to Pulte". [[The Columbus Dispatch]].
17. Whelan, Robbie. (May 30, 2013). "PulteGroup to Move Headquarters to Atlanta". [[The Wall Street Journal]].
18. (3 July 2023). "PulteGroup Celebrates the 10th Anniversary of its Built to Honor® Program, Recognizing and Thanking Our Nation's Veterans". Yahoo Finance.
19. (15 January 2016). "PulteGroup Completes Acquisition of Certain Homebuilding Assets of John Wieland Homes and Neighborhoods". www.prnewswire.com.
20. Segall, Eli. (April 29, 2019). "Las Vegas developer Larry Canarelli sells homebuilding operations". [[Las Vegas Review-Journal]].
21. (18 March 2025). "Inside PulteGroup’s Del Webb Explore Brand". Builder Magazine.
22. (5 February 2025). "PulteGroup Expands 2025 Build Your Future Scholarship for Future Homebuilding Leaders". The Construction Data.
23. (6 May 2025). "PulteGroup’s Built to Honor Program Celebrates 100th Build". Builder Magazine.
24. "PulteGroup Revenue 2010-2024".
25. "PulteGroup Net Income 2010-2024".
26. "PulteGroup Stock Price History". www.macrotrends.net.
27. "Annual Reports of PulteGroup".
28. Wille, Chris. (February 19, 2019). "Relief for Pulte homeowners". [[Sarasota Herald-Tribune]].
29. Brown, Angela. (January 30, 2019). "Sun City lawsuit settlement won't do "diddly squat," homeowners say". [[WCIV]].
30. Caulfield, John. (February 23, 2010). "California court dismisses class action lawsuit against Pulte Homes". [[Hanley Wood]].
31. "PulteGroup {{!}} Pulte {{!}} Del Webb {{!}} Centex {{!}} Poorly Built By Pulte {{!}} Index".