Pulte Group

The story of PulteGroup begins in 1950 with an 18-year-old William “Bill” Pulte, who, with the help of some high school friends, built his first house near Detroit. That single bungalow, which sold for $10,000, was the first step in creating one of the nation's largest homebuilders. By 1956, Bill Pulte incorporated his business, and by 1959, he was developing his first subdivision. The company expanded beyond Michigan in the 1960s, entering markets like Chicago and Washington D.C. A pivotal moment arrived in 1972 when Pulte Homes went public through an initial public offering. This event provided the capital for further expansion and set the stage for decades of growth. The company built a portfolio of brands to serve different buyers, from first-time owners to active adults. The company's most significant strategic move came in 2009, during a severe real estate recession, when it merged with Centex Corporation in a deal valued at $1.3 billion in stock. This acquisition created the largest homebuilding company in the United States at the time. The merger combined Pulte's strength in retirement housing with Centex's focus on first-time buyers. Following the merger, the company officially changed its name to PulteGroup in 2010. Today, PulteGroup operates in over 40 markets, having delivered more than 800,000 homes since its founding.