PulteGroup, Inc. is an American residential home-construction company based in

Atlanta, Georgia Atlanta ( ) is the List of capitals in the United States, capital and List of municipalities in Georgia (U.S. state), most populous city in the U.S. state of Georgia (U.S. state), Georgia. It is the county seat, seat of Fulton County, Georg ...

, United States. As of 2023, the company is the third-largest home-construction company in the United States based on the number of homes closed. In total, the company has built over 775,000 homes. The company operates in 44 markets in 23 states. In 2021, it ranked 284th on the ''Fortune'' 500. The company was founded by William J. Pulte in Michigan, and moved its headquarters to Atlanta in 2014. Since 2016, Ryan Marshall has been the president and CEO of the company.

History

Early history

In 1950, at the age of 18 years, William J. Pulte, began building and selling houses. In 1956, he formed the company, Pulte Homes, Inc which was based in

Bloomfield Hills, Michigan Bloomfield Hills is a city in Oakland County, Michigan, Oakland County in the U.S. state of Michigan. A northern Metro Detroit, suburb of Detroit on the Woodward Corridor, Bloomfield Hills is located roughly northwest of downtown Detroit, and is ...

. In 1972, the company became a

public company A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

. In 1998, the company acquired Divosta for an estimated $150 million, and it also acquired Radnor Homes for an undisclosed amount.

Since 2000

In 2001, Pulte Homes, Inc acquired

Del E. Webb Construction Company The Del E. Webb Construction Company was a construction company that was founded in 1928 and developed by Del Webb. Headquartered in Phoenix, Arizona, United States, it became the Del E. Webb Corporation a publicly traded company on the New York ...

, founded by

Del Webb Delbert Eugene "Del" Webb (May 17, 1899 – July 4, 1974) was an American real-estate developer and a co-owner of the New York Yankees baseball club. He founded and developed the retirement community of Sun City, Arizona, which was built by his ...

, for $1.8 billion. In 2003, the company acquired Sivage-Thomas Homes. In 2009, the company acquired Centex for $1.3 billion in stock. In August 2014, the company acquired the real-estate assets of Dominion Homes for $82 million. The company changed its name from Pulte Homes, Inc. to PulteGroup, Inc. in March 2010. In 2013, PulteGroup launched Built to Honor program, which provides homes to veterans with disabilities from the Army, Marine Corps, Navy, Air Force, and Coast Guard, as well as Gold Star families in 18 U.S. states. In 2016, the company acquired some homebuilding assets of John Wieland Homes and Neighborhoods, a premier builder of luxury homes. In April 2019, the company acquired the homebuilding operations of American West Homes for $150 million.

Financials

Criticism

Stucco defects in Florida homes

In 2019, after an investigation by

Florida Attorney General The Florida attorney general is an elected Florida Cabinet, cabinet official in the U.S. state of Florida. The attorney general serves as the chief legal officer of the state, and is head of the Florida Department of Legal Affairs. The office is ...

Ashley Moody Ashley Brooke Moody (born March 28, 1975) is an American politician, attorney, and former jurist serving since 2025 as the Seniority in the United States Senate, junior United States senator from the state of Florida. A member of the Republican P ...

, Pulte agreed to pay $4.7 million in restitution and make repairs to houses it sold in Florida that had cracks in

stucco Stucco or render is a construction material made of aggregates, a binder, and water. Stucco is applied wet and hardens to a very dense solid. It is used as a decorative coating for walls and ceilings, exterior walls, and as a sculptural and ...

applied to a wood frame, stucco

delamination Delamination is a mode of failure where a material fractures into layers. A variety of materials, including Lamination, laminate Composite material, composites and concrete, can fail by delamination. Processing can create layers in materials, suc ...

, and improper installation of weep

screed Screed has three meanings in building construction: # A flat board (screed board, floating screed) or a purpose-made aluminium tool used to smooth and to "Wikt:true#Verb, true" materials like concrete, stucco and plaster after they have been p ...

Dismissed lawsuit regarding propping up sale prices

In October 2009, a

class-action A class action A class action is a form of lawsuit. Class Action may also refer to: * ''Class Action'' (film), 1991, starring Gene Hackman and Mary Elizabeth Mastrantonio * Class Action (band), a garage house band * "Class Action" (''Teenage R ...

lawsuit was filed by

Steve Berman Steve Berman is an American editor, novelist and short story writer. He writes in the field of queer speculative fiction. Early life and education Berman was born in Philadelphia, and raised in South Jersey. Berman says he realized in junior h ...

accusing the company of artificially propping up house sales prices and contributing to the

United States housing bubble The 2000s United States housing bubble or house price boom or 2000s housing cycle was a sharp run up and subsequent collapse of house asset prices affecting over half of the U.S. states. In many regions a Real-estate bubble, real estate bubb ...

. The lawsuit was dismissed by the court.

2009 allegations of systematic construction defects

On March 26, 2009, Building Justice, a project of the International Union of Painters and the Sheet Metal Workers International Association, with support from the AFL-CIO, released the report of a survey of 872 Pulte and Del Webb home owners in Arizona, Nevada, and California, in which 63% of respondents reported construction defects in their homes. The report "Poorly Built by Pulte, No Different at Del Webb: Homeowner Dissatisfaction in Arizona, Nevada, and California" was published on the project's website.

References

External links

* {{Authority control 1950 establishments in Michigan Construction and civil engineering companies of the United States Companies based in Atlanta Companies listed on the New York Stock Exchange Construction and civil engineering companies established in 1950 Home builders