(MENAFN) US-based PulteGroup's quarterly losses narrowed as its spring home sales witnessed an improvement, AP reported.
The homebuilder reported USD11.7 million loss during the first quarter, down from USD39.5 million loss a year earlier. Revenue rose 9.4 percent to USD881 million.
The spring home-selling season kicked off at the end of February, and homebuilders have been reporting positive sales trends for the first three months of the year.
An unusually mild winter helped sales of new homes nationwide in February, although March figures posted the sharpest fall in more than a year.
PulteGroup and other homebuilders hope that the spring home sales trends point to an improving housing market this year.
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