By Lisa Beilfuss | MarketWatch
Home builder PulteGroup Inc. said its second-quarter profit rose, as order growth and a gain stemming from a legal settlement offset soft closings.
Adjusted per-share earnings topped expectations, though revenue slipped and missed estimates.
Climbing consumer confidence, low mortgage rates and low inventory have helped spur new-home sales over recent months. The Federal Reserve’s policy-setting committee in its latest assessment signaled a more optimistic shift in its view of the housing market, and the annual sales pace hit a seven-year high in the most recent report from the U.S. Census Bureau.
