PulteGroup profit rises due to higher home prices
July 24 (Reuters) - U.S. homebuilder PulteGroup Inc reported a 15 percent rise in quarterly profit as it sold homes at higher prices, but said orders fell 2.2 percent.
Net income rose to $41.9 million, or 11 cents per share, in the second quarter ended June 30, from $36.4 million, or 9 cents per share, a year earlier.
Home sale revenue rose 2.2 percent to $1.25 billion, driven by a 12 percent increase in average selling price to $328,000.
Orders - a key indicator for builders, who do not book revenue until they deliver a house - fell to 4,778 homes from 4,885. (Reporting by Ankit Ajmera in Bangalore; Editing by Savio D'Souza)