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PulteGroup Swings to Profit, But Orders Look Weak

PulteGroup Inc. (PHM) swung to a first quarter-profit after the builder sold more homes at higher prices, but its orders appeared weak compared to the robust results being reported by its competitors.Pulte's sales are considered a strong barometer for the sector because the company, one of the nation's largest builders, constructs everything from entry-level homes to units for retirees nationwide. The company's orders increased just 4% While closings climbed 23% when compared to the year-earlier period.Competitor Meritage Homes Corp. (MTH) this week reported closings and orders surged nearly 40% in its first quarter. The Ryland Group Inc. (RYL) recently reported that orders and closings both surged more than 50% from a year ago.The current Spring selling season is shaping up to be one of the strongest in recent years, a big change from the downturn, when builders struggled to sell homes. In March, new-home sales increased 1.5% to an annual pace of 417,000, the second-highest monthly sa...

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