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Some first-time homebuyers are being lured into buying homes thanks to attractive incentives, low interest rates and competitive builders, leading to an upward trend in pending home sales, according to builders and a recent Realtor report. On Wednesday, the National Association of Realtors released a report saying pending home sales have been rising for four consecutive months. NAR’s chief economist Lawrence Yun attributed the boost to more affordable housing options driven by competition on behalf of sellers and a first-time home buyer tax credit now offered by the government. Those government incentives along with interest rates and competition in the marketplace are helping to get buyers to bite, said Scott Sim, vice president of sales for Pulte Homes, when commenting on an optimistic report released by the National Association of Realtors on Wednesday. Bloomfied Hills Mich.-based Pulte (NYSE: PHM) announced earlier this year it will buy Dallas-based Centex Corp. (NYSE: CTX) and clo
Pulte Homes was founded in 1950 by an 18 year-old kid with the dream of becoming a home builder in his hometown of Detroit. Recently, the company announced the merger with Centex Homes, which will only expand their reach across the United States. The state of the economy, and thus, the housing market has left Pulte Homes with difficulties in some markets as they have too much inventory that they are unable to sell. Because of this, they have had to pull out of several markets because of the inability to afford to continue to sell there. The states that Pulte Homes has inventory in includes California, Arizona, Nevada, New Mexico, Colorado, Texas, Minnesota, Michigan, Illinois, Indiana, Ohio, Tennessee, North Carolina, Georgia, South Carolina, Florida, Virginia, Pennsylvania, New York, Connecticut, Rhode Island, Delaware, Massachusetts, Maryland, Washington D.C. and New Jersey. Their reach will only continue to expand with the strengthening of the economy, revitalization of the housing
