PulteGroup, the country’s third-largest homebuilder, plans to expand into Cincinnati and Dayton, Ohio, looking to capture buyer momentum that it’s seen in nearby Midwest markets.
The homebuilder said it would construct homes for entry-level up to active-adult buyers. The Atlanta-based firm sold more than 31,000 homes in 2024. According to its most recent earnings report, Pulte posted an average sale price of $564,000.
Pulte North Area President Tony Barbee said in a statement that the expansion follows the builder’s strategy of constructing in “high demand, growing communities.”
The Midwest has been somewhat of a beacon in a softening housing market, posting the highest price appreciations across major metros for the past four months, according to Homes.com housing data. Cincinnati experienced 5.8% price growth, landing it in fifth place for the highest price appreciation in October.
“The Cincinnati and Dayton [metropolitan statistical areas] closely resemble several of our current Midwest markets as it relates to desirability, economic development, and the growing demand of families and individuals looking to purchase new homes,” said Scott Mairn, a division president at Pulte who will lead the expansion efforts, in an emailed statement to Homes.com. “In addition, the excellent schools, surrounding amenities and customers’ desire to stay close to where they grew up resonates with our homebuilding brands.”
Pulte has already announced expansions this year of its brands throughout the Midwest. In July, Pulte’s resort and active-adult brands Del Webb and Del Webb Explore launched in Columbus, Ohio, and in May, they debuted in the Indianapolis region.
Pulte opened its first Cleveland-area Del Webb project earlier this year. At that time, the builder also attributed its active-adult expansions to grandparents wanting to move or remain close to their families.
Pulte did not confirm a timeline for groundbreakings of new developments or land acquisitions.
“Our entry into the Cincinnati and Dayton [metropolitan statistical areas] is highly intentional. We’ll identify leaders who want to grow with us and be extremely disciplined in our land investments to ensure we build a strong team and communities that align with our brands,” said Mairn.
Cincinnati has a median single-family sale price of $282,000, according to Homes.com market data. The median year built for homes in the city is 1957, making the median age 68, significantly higher than the country’s median house age of 40, according to the U.S. Census Bureau.