The third-largest U.S. homebuilder has leased office space in a Washington, D.C., suburb as the company seeks to expand its foothold in the Northeast and parts of the mid-Atlantic.
PulteGroup closed on 6,583 homes in the first three months of this year, according to a recent filing with the U.S. Securities and Exchange Commission. Just over 5% of those homes were in Pulte’s Northeast region that includes Virginia and Maryland, indicating room to grow. The company’s sales were up 19% in the region from the same period in 2024, while sales were down in the Southeastern U.S. where it sells almost half of its homes, including Florida.
A National Association of Home Builders survey ranked PulteGroup as the third-largest U.S. homebuilder with 28,603 closings in 2023, behind D.R. Horton and Lennar. Pulte said last summer that it expected to exceed 30,000 sales in 2024.
Pulte Homes, a division of the Atlanta-based company, leased around 29,000 square feet of office space in Fairfax, Virginia, at the Centerpointe office campus, according to a statement by leasing agent Newmark that represented the landlord in the deal. Pulte could not be immediately reached for comment.
In an April presentation to investors, PulteGroup said 40% of the people who bought homes from the company in 2024 were first-time buyers, up from 31% in 2020. Pulte builds single-family homes, townhouses and condos, depending on the market. Across the U.S., Pulte's largest share of homes sold, 37%, were priced between $500,000 and $750,000, while 22% were priced in the $400,000 range and 20% between that level and $300,000. The company currently builds in 25 states.
While the average price for Pulte’s homes in the Southeast was $535,000 during the first quarter, it was $737,000 in the Northeast, according to the investor presentation. Other states in Pulte's Northeast region include New Jersey, Pennsylvania and Massachusetts.