The first quarter results of two building groups, PulteGroup and D.R. Horton, show a relative picture of construction activity across the country. While home closings are decreasing in many regions, there are also reasons for optimism, as some regions exhibit growth.
PulteGroup’s results show that home closings decreased across regions. In the Southwest, they fell from 734 to 468. Only in the Northeast they increased from 302 to 343.
D.R. Horton results were a bit different. In the East, home closings grew from 574 to 763, as they did in the South Central region from 1,831 to 1,948. In the Southwest, closings decreased from 305 to 381.
Both companies’ results show that home closings in the Southwest are decreasing.