Homebuilder PulteGroup, Inc. (NYSE: PHM) is expanding its offering of affordably priced homes under its national Centex brand. Through its new community format, the company is extending the brand’s portfolio to include more value-oriented communities that can better meet the needs of today’s entry-level homebuyers.
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Festival Foothills Gateway by Centex in Phoenix, Arizona (Photo: Business Wire)
In a recent survey by PulteGroup, the majority of consumers say insufficient savings is the biggest financial hinderance to buying a new home. Keeping cost top of mind, the most important factor when considering where to buy a new home is affordability of the area (55 percent), compared to proximity to work (18 percent), choice school district (11 percent), family and friends (10 percent), and having a variety of shopping, dining and entertainment options nearby (6 percent).
“We continue to see strong market interest among first-time and value-oriented homebuyers, and demand is high for affordably priced new homes,” said John Chadwick, Executive Vice President and Chief Operating Officer for PulteGroup. “Centex has a long history of serving first-time homebuyers and this is an opportunity to further expand our offering of a more affordable product.”
The new Centex strategy combines a streamlined buying process with an efficiently produced high-quality home to deliver greater value to the consumer. Communities feature a select lineup of energy-efficient floor plans, professionally designed interior color packages, and all-included features that take the guesswork out of customizing a home.
“A more standardized offering, along with a consistent and planned production cadence, allows Centex to offer buyers a brand-new home with affordable monthly payments and a faster closing,” said Chadwick.
PulteGroup’s Arizona division was among the first to bring the new Centex format to market. Reintroducing the brand to Phoenix, Festival Foothills Gateway features three single-story home designs with 2-4 bedrooms, 2 baths and 2-car garages, along with sought-after features like granite countertops, stainless steel appliances, energy-saving systems and Centex smart home technology that make the home move-in ready.
“We anticipated a high level of demand for this community, but the success of Festival Foothills Gateway has exceeded our expectations. Even amid a pandemic and while adhering to social distancing guidance, we had a line of cars waiting for the opportunity to purchase a home at the first sales event,” said PulteGroup’s Arizona Division President Rebecca Lundberg. “Homebuyers recognize the incredible value our Centex communities offer, and we look forward to opening additional communities in the future.”
The company is expanding its Centex brand with new communities across the country. The new value-oriented floor plans, options and pricing strategies are currently featured at Centex communities in Austin, Dallas, Houston, Louisville, Nashville, Phoenix, Raleigh and San Antonio.
For more information about Centex and to view new communities, visit https://www.centex.com/.
About the Survey
This survey was conducted in 2020 by MKM Partners Quantitative Survey Group, on behalf of PulteGroup, surveying a geographically and demographically (gender, age, household income) broad and diverse sample of 1,001 consumers across the U.S. to quantify sentiment, drivers and current status regarding home ownership and other related trends.
About Centex
Centex, a national brand of PulteGroup, Inc. (NYSE: PHM), helps first-time homebuyers put themselves in a better place. Centex builds consumer inspired homes and communities that balance smart design and affordability with a friendly, enjoyable buying process. For more information about Centex, visit www.centex.com.
About PulteGroup
PulteGroup, Inc. (NYSE: PHM), based in Atlanta, Georgia, is one of America’s largest homebuilding companies with operations in 40 markets throughout the country. Through its brand portfolio that includes Centex, Pulte Homes, Del Webb, DiVosta Homes, American West and John Wieland Homes and Neighborhoods, the company is one of the industry’s most versatile homebuilders able to meet the needs of multiple buyer groups and respond to changing consumer demand. PulteGroup’s purpose is building incredible places where people can live their dreams.
For more information about PulteGroup, Inc. and PulteGroup brands, go to pultegroup.com; www.pulte.com; www.centex.com; www.delwebb.com; www.divosta.com; www.jwhomes.com; and www.americanwesthomes.com. Follow PulteGroup, Inc. on Twitter: @PulteGroupNews.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200824005007/en/
Contacts:
office: 404.978.6414
macey.kessler@pultegroup.com
