Millennials Won't Be Life-Long Renters

                    Millennials Won't Be Life-Long Renters

PulteGroup Survey Shows Strong Interest in Purchasing a Home; Majority of
Millennials Not Living Alone

PR Newswire

BLOOMFIELD HILLS, Mich., April 1, 2013

BLOOMFIELD HILLS, Mich., April 1, 2013 /PRNewswire/ -- Millennials continue to
show a strong interest in purchasing a home, according to the PulteGroup Home
Index Survey (PGHI) by national homebuilder PulteGroup, Inc. (NYSE: PHM). For
renters ages 18-34 with an income of more than $50,000, 65 percent indicated
their intention to buy has significantly or somewhat increased in the past
year.

(Click here for infographic and data:
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTc3ODU2fENoaWxkSUQ9LTF8VHlwZT0z&t=1)

Additionally, the vast majority of millennials aren't moving into their first
home on their own. Millennials plan to be coupled in their home with 76
percent indicating they will live with a spouse or significant other, and of
those not moving in with a significant other, 22 percent anticipate having a
roommate, including a friend, parent, in-law, grandparent or sibling living
with them.

"Millennials have witnessed the housing boom and bust, but still believe home
ownership is a good investment," said Fred Ehle, vice president for
PulteGroup. "Consistent with other third-party research that shows more than
90 percent of millennials plan to buy a home someday, we see a lot of young
adults who are making financial sacrifices to afford a place of their own.
With the combination of incredibly low mortgage rates, rising rental rates,
and very low inventory levels, millennials realize now is a good time to
purchase a home."

Millennials view a home as an investment
In 2012, PulteGroup sold just over 19,000 homes of which approximately 30
percent were first-time homebuyers, many of whom are part of this large
demographic. In the company's internal buyer surveys, more than 50 percent of
millennials reported that the desire to own/build equity was the primary
reason for purchasing their new home. The second largest reason, at 12
percent, was that millennials were tired of apartment living.

Tiffany Troyer, a 25-year-old who recently signed to build a new house in
Austin, Texas, is one millennial taking advantage of the improved housing
environment.

"I've always wanted to live in a house that I could call my own," said Ms.
Troyer, who is an area director for Nitro Swimming. "Since graduating from
Baylor University in 2009, I have been paying rent on an apartment. I was so
frustrated with the rising cost of apartment rates, and when I talked with my
parents about the benefits of home ownership, it just seemed like the right
time to take advantage of the low mortgage rates and move in to a new home
where I could personalize the space and not worry about unexpected repairs or
renovation projects. To say that I'm anxious to invest in something that can
contribute to my future is an understatement."

Home should have value and be fit for entertaining
According to Mr. Ehle, "Millennials today want a lot of value in their home
that makes efficient use of every space. In fact, the single most important
home feature to a millennial buyer today is the floor plan layout." Not
surprising then is that 69 percent of millennials overwhelmingly want an
open/layout space in the kitchen and family rooms for entertaining family and
friends.

With having frequent dinner parties and entertaining around the TV, open space
is a key consideration, added Ehle. In addition to the obvious home features,
including sleeping, eating and bathroom areas, PulteGroup's internal buyer
surveys showed that millennials found the following aspects in a new home as
extremely important/very important:

  o84 percent said ample storage for daily items
  o76 percent said space for TV, movie, sports watching
  o73 percent said the entry to the home
  o63 percent said outdoor living/deck
  o36 percent said the ability to conduct business from home

First-time buyers seek advice
The Internet is the primary source of information for home shoppers today with
more than 90 percent researching via the Internet during their home search.
When seeking personal advice about purchasing a home, the PGHI survey
revealed that the plugged-in millennial will not only log onto the Internet,
but they will also reach out to both real estate professionals and their own
parents.

"Millennials really do their homework and use several resources to make this
important decision. That's why there are a variety of ways millennials can
get information about a home on our branded web sites. From mobile apps to
chat rooms to visiting our model homes and designing homes online, PulteGroup
provides a variety of ways for millennials to get the information they want,
when they want and any way they want," Ehle said.

About the PGHI Survey
The PulteGroup Home Index (PGHI) survey polled 521 U.S. adult renters ages
18-34 to better understand millennials' interest and sentiment toward
purchasing a home. The survey was conducted online by Russell Research from
January 18–21, 2013. At a 95 percent confidence level, the results have a
statistical precision of +/-4.3 percentage points of what they would be if
the entire adult population had been polled with complete accuracy. Figures
for gender, age and geography were weighted where necessary to match their
actual proportions in the population.

About PulteGroup
PulteGroup, Inc. (NYSE: PHM), based in Bloomfield Hills, Mich., is one of
America's largest homebuilding companies with operations in approximately60
markets throughout the country. Through its brand portfolio that includes
Centex, Pulte Homes and Del Webb, the company is one of the industry's most
versatile homebuilders able to meet the needs of multiple buyer groups and
respond to changing consumer demand. PulteGroup conducts extensive research
to provide homebuyers with innovative solutions and new homes designed for the
way people actually live today. As the most awarded homebuilder in customer
satisfaction, PulteGroup brands have consistently ranked among top
homebuilders in third-party customer satisfaction studies.

For more information about PulteGroup, Inc. and PulteGroup brands, go to
pultegroupinc.com; www.pulte.com; www.centex.com; and www.delwebb.com.

SOURCE PulteGroup, Inc.

Website: http://www.pultegroupinc.com
Contact: Kelley Yoder, Office: +1-312-447-2575, Cell: +1-419-705-6707,
kelley@reputationpartners.com
 
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