# PulteGroup Cuts 2026 Home-Closing Forecast to 27,000–27,500 Homes By John Kim Canonical URL: https://www.tokenpost.com/news/business/38867 Published: 2026-10-23T09:25:39.000Z Updated: 2026-10-23T09:25:39.000Z Section: Business > The homebuilder also cut planned land acquisition and development investment by $100 million while keeping its gross-margin and average-selling-price forecasts unchanged. PulteGroup cut its 2026 home-closing forecast by 1,500 homes at both ends of the range on Thursday, Oct. 22, after third-quarter closings fell 9% year over year. The new outlook calls for 27,000 to 27,500 home closings, down from July’s forecast of 28,500 to 29,000. The homebuilder also reduced planned land acquisition and development investment by $100 million, to about $5.3 billion from $5.4 billion in July. PulteGroup kept its full-year gross-margin forecast at 24.5% to 25.0% and its average-selling-price range at $550,000 to $560,000. Its projected selling, general and administrative expense rose to 10.3% to 10.5% of home-sale revenue, compared with 9.5% to 9.7% in July. The company closed 6,876 homes in the quarter ended Sept. 30, down 9% from a year earlier. Its [third-quarter results]() included $3.9 billion in home-sale revenue, 9% lower year over year, and net income of $476 million, down from $586 million. The quarter’s average selling price slipped 1% to $561,000, while home-sale gross margin was 24.8%, compared with 26.2% a year earlier. Net new orders fell 6% to 6,208 homes. Quarter-end backlog stood at 10,298 homes, valued at $6.4 billion. PulteGroup invested $1.3 billion in land acquisition and development during the quarter, with 51% directed toward developing land it already controlled. At quarter-end, the company controlled about 224,000 lots, 55% through options. Higher interest rates and weaker traffic constrained spec-home sales and related closings. ## Links in this article - [third-quarter results](https://www.tokenpost.com/news/business/38370)