Photo: Justin Sullivan/Getty Images
Homebuilder PulteGroup’s Q2 earnings are out and it looks strong.Click Here For Updates >
Earnings per share came in at $0.11, which was much higher than the $0.15 loss expected by analysts.
That’s all well and good.
What’s particularly exciting is their order activity, which is a decent leading indicator of the U.S. housing market.
Net new orders jumped 32 per cent year-over-year to 5,578 homes.
Pulte’s housing backlog currently sits at 7,560 homes.
“With each passing quarter, we grow more confident that new home demand has found its footing and is moving along a path toward a gradual recovery,” said CEO Richard Dugas.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.