Pulte Homes Buys Centex Corporation, Becomes Nation's Largest Home Builder
Pulte Homes recently acquired Centex Corporation creating the largest home builder in the country. While this may look like a sign of things to come, analysts say that this is not going to ignite a slew of acquisitions in the home-building industry.
The transaction will combine two companies that were already huge players in the home-building industry. Pulte has a large share of the country’s retirement housing market and Centex dominates the first-time buyer market.
According to its website, Centex is currently selling homes in 10 communities in Maryland and 14 in northern Virginia. Pulte is selling homes in 2 communities in Maryland and 9 in northern Virginia. Neither appears to have communities in DC proper.
As noted above, most experts believe that this transaction is essentially a one-off deal. From the Wall Street Journal:
“The news, which stunned the industry before the market opened Wednesday, won’t revive mergers and acquisitions, which have essentially stalled as the worst economic downturn in decades drags on. With lessons learned after gorging on overpriced land during the boom, builders seem more likely to pick up cheap land from the burned lenders. Indeed, most are hoarding cash, waiting to pounce as distressed lots hit the market.”
This article originally published at https://dc.urbanturf.com/articles/blog/pulte_homes_buys_centex_corporation_becomes_nations_largest_home_builder/785.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Up 8% year-over-year, it is the first time that prices have exceeded $800,000 for det... read »
If there was ever a place where the old adage “one man’s trash is another man’s... read »
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- The Price For A House in The DC Area Hit A New High in April
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro