Question · Q3 2025
Matthey Bouley asked about PulteGroup's dialogue with the administration regarding housing solutions and the company's updated spec production strategy, specifically the shift to running closer to 50% spec production.
Answer
Ryan Marshall, President and CEO, stated that the company's prepared remarks fully cover their stance on housing policy, emphasizing the complexity rooted in local politics. Regarding spec production, Mr. Marshall clarified that the target of 40-45% remains, but a challenging sales environment led to fewer built-to-order homes, resulting in a higher *percentage* of specs despite a reduction in the *number* of specs in production. The focus remains on dirt-to-be-built sales.