Homebuilder Enters Growing Submarket with Estate Sized Lots, New Home Plans

LAS VEGAS, NV – May 31, 2013 – Pulte Homes has closed on 39 units in Northwest Las Vegas, marking its entry into the highly regarded, growing submarket. The lots represent three separate transactions on a total of 20 acres that will feature homes on half-acre lots targeted to mature families and empty nesters.

Pulte plans to open for new home sales in early 2014 with three fully furnished model homes, offering abundant extra features and upgrades, said Scott Wright, president of PulteGroup’s Las Vegas Division.

“There is a great opportunity in Northwest Las Vegas to provide homebuyers attractively priced homes relative to the market on larger lots,” Wright said, adding that prior to the residential downturn the submarket had limited supply of attractively priced homes because of the high cost of the land. “There were multiple bidders on these parcels because this is a highly desirable location for consumers who value privacy, large lots and space for things like recreational vehicles.”

Wright said Pulte plans to offer three single-story home plans, providing the option for one of the plans to be expanded into two stories. Some home designs will feature guest suites to host extended-stay family members or multigenerational families. Other design features include options for additional bedrooms, fourth garage bays, super laundry rooms, guest suites and large game rooms.

The Northwest submarket, considered North of Cheyenne, around the I-215 and west of the I-95, historically has been a market that caters to custom homes on large lots because of its Rural Neighborhood Preserve zoning. Wright said much of the appeal also centers on its convenient access to employment centers throughout Las Vegas and proximity to a wide range of retail, entertainment and services.

About Pulte Homes

Pulte Homes is a national brand of PulteGroup, Inc. (NYSE: PHM). Pulte Homes builds consumer inspired homes and communities that provide the move-up buyer the best quality of life. Only Pulte Homes offers the combination of innovative Life Tested™ home designs with an unwavering commitment to quality and attention to detail. For more information about Pulte Homes, visit www.pulte.com.

SOURCE: PulteGroup