PulteGroup (PHM) Stock Climbs on Existing-Home Sales Uptick

PulteGroup (PHMGet Report) stock is increasing by 3% to $16.48 in afternoon trading on Friday, after existing-home sales rose month-over-month in December. PulteGroup is an Atlanta-based homebuilder. Total existing-home sales increased by 14.7% to a seasonally adjusted rate of 5.64 million in December from the month prior, according to the National Association of Realtors.

Exclusive Look Inside: You see Jim Cramer on TV. Now, see where he invests his money. Check out his multi-million dollar portfolio and discover which stocks he is trading. Sales for all of 2015 reached 5.26 million to mark the highest annual level since 2006. “While the carryover of November’s delayed transactions into December contributed greatly to the sharp increase, the overall pace taken together indicates sales these last two months maintained the healthy level of activity seen in most of 2015,” Lawrence Yun, National Association of Realtors chief economist, said in a statement. However, total housing inventory fell by 12.3% to 1.79 million existing homes available for sale in December, as new-home construction struggles to keep up with demand.

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