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PulteGroup (PHM) Unveils MINE x Pulte, Focuses on Innovation

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PulteGroup, Inc. (PHM - Free Report) has been strategically positioning the homebuilding business (which contributes more than 97% to total revenues). The company has undertaken various initiatives to boost customer engagement. Recently, it launched MINE x Pulte, an online interior design service for customers to achieve a designer look in their new home.

This notable homebuilder professionally decorates more than 425 homes each year. The new platform will give buyers an enhanced view of their future home. Homebuyers can buy the same furniture and decor pieces that are featured in Pulte Interiors’ beautiful model homes collection. Homebuyers can simply scan a QR code with their smartphone while visiting a model and they will be directed to the MINE x Pulte website, wherein they can virtually experience and shop featured furniture as well as decor items. Also, they can get along with MINE’s team for personalized design services.

Angela Nuessle, PulteGroup’s national vice president of Interior Design, said, "One of the most commonly asked questions we get from our homebuyers is where can they purchase the furniture found in our models. With MINE, consumers can easily shop the model and incorporate the same pieces we use in the models in their new home." Nuessle added, "With this service, our buyers can now easily replicate the inspired spaces we create for our models in their own home, without the expense of hiring an Interior Designer.”

Strategic Moves to Boost Profitability

PulteGroup has always advanced on the technology front. Earlier this year, the company introduced several new healthy in-home technologies to address consumers’ preference for health and wellness supportive homes. These technologies include Whole house water filtration system, Hospital-grade air filtration, Antimicrobial quartz countertops and Touchless faucets.

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This apart, during second-quarter 2021, PulteGroup announced that starting 2022, the company intends to design and build about 7,500 new homes over the next five years for sale to Invitation Homes for inclusion in the latter’s single family rental leasing portfolio. Initial projects will start in Florida, Georgia, California and Texas, representing approximately 1,000 homes. This deal will enable PulteGroup to expand local market scale, pursue larger tracts of land and provide an important counter-cyclical sales outlet into the single family rental market.

Pulte Mortgage has been an innovator in home financing. Its partnership with Paymentus to make mortgage payments in a consistent and user-friendly manner is commendable. This move enables homebuyers to easily finance their new home, that too at a faster rate, from any size device, be it computer, tablet or smartphone.

Shares of PulteGroup — a Zacks Rank #3 (Hold) company — have gained 22% so far this year, almost in line with the industry’s 22.1%. PulteGroup and other homebuilding companies like KB Home (KBH - Free Report) , Lennar Corporation (LEN - Free Report) and D.R. Horton (DHI - Free Report) remains optimistic about the industry’s prospects, given persistent economic recovery, a positive job market, low interest rates and a high level of consumer confidence.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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