Summit Notebook

Exclusive outtakes from industry leaders

AUDIO – Pulte Homes and the Cycle

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It’s not a motorcycle or a unicycle – we’re talking the overall real estate business cycle.

While the bulk of the focus at this year’s Reuters Real Estate Summit is on the commercial real estate side of the business, Richard Dugas, chief executive of Pulte Homes, spoke to us about how things look on the residential side of the aisle.

It remains pretty rough out there.

Dugas told us it was still difficult to predict where things stood and how the rest of 2009 would shape up, but he did sound somewhat hopeful that the sector had leveled off from its dramatically depressed levels seen during 2008.

The confetti was not going off and there was no champagne being passed around just yet, but after a ride south that the residential real estate and building industry has seen, “not getting much worse,” sounds a lot like “better”.

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