“The homebuilding environment remains difficult and our current overhead levels are structured for a business that is larger than the market presently allows,” CEO Richard J. Dugas, Jr., said in a statement.
Pulte had already shed 1,600 jobs over the previous two years.
And, yes, it is a sign of the times. The National Association of Realtors, which had previously predicted a 2.2 percent sales decline in existing homes this year, has revised that downward to a 2.9 percent drop. Something more, like 3.5 percent, wouldn’t surprise me.
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