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February 10, 2010

Pulte Homes posts smaller fourth quarter loss

BLOOMFIELD HILLS, Mich. (AP) — Pulte Homes said Tuesday its loss narrowed in its fourth quarter, and the nation's largest homebuilder expressed cautious optimism for housing demand this year.

Pulte CEO Richard Dugas said job growth and improved consumer confidence will be needed for a meaningful rebound in new home sales this year. Possible obstacles include the expiration of two homebuyer tax credits, a rise in mortgage rates and tight lending standards, all of which could hurt demand and price stability.


 
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