realized meaningful and good and Ryan, morning, gains Thanks, performance in reported financial operating everyone. another strong quarter key with PulteGroup metrics.
as last which orders group buyer X% quarter of we signups trends over to totaled the by is first-time what up experienced year. homes, Signup For the quarter, this net our in third QX similar X,XXX in year, were orders XX% the exceptionally to last were as homes, third X,XXX move-up quarter buyers strong to X,XXX X,XXX XX% homes. declined adult over orders X% down from active XXXX in while homes. Demand remained year increased to among
little at more orders detail. our Looking a in
the our impacted signups most markets, were and Charlotte, down Raleigh our in Florence. in Southeast First-time notably quarter, within were by area Coastal Hurricane which
higher We Northern related softer QX, area for similar first-time, experiencing priced to also albeit, homes. where to California, where, in fewer recorded demand our we're primarily the our decline west signups
it's was believe perceived, XX% the was high. quarter interest concerns, periods. a Ryan reasonable we last responding on say With throughout sales stores, As generate effectively and traffic matter year. traffic remains future over buyer to real highlighted, strong to up our I our of to in solely this and Based communities buyer stronger that it's think to metric, in
intently purposely through returns on performance, and focus conditions but market evolving to moving cycle our in needed. we're community positioning Given adjusting as
I QX absorptions group, was Northern our last absorption experience By California the second sales down our pace third first-time Looking is in referenced were our pace, XX%, markets. compared and of the this quarter with with our among paces, buyer at year, quarter slower of which Southeast absorption the which of impact year. reflects buyers down X% consistent for as
While pace among decreased X% active buyers move-up buyers. and adult among increased X%
top were to result to increases price $X.X average combination a X,XXX $XX,XXX driven a sales year XX% X% on The revenues price increased income price, over in increase groups. $XXX,XXX. with across revenues by closings the higher all were buyer The in sales statement. or -- XX% generated homebuilding year-over-year growth Moving as strong line QX for last our to average billion. QX in homes was of in We increase increase
homes buyers includes to year. last is sold X,XXX for first-time, in of first-time buyer active had XX% and were of production, QX, the consistent a sales more the first-time construction were price units XX% XX% increase to For last among group move-up were increased XXX with among shift XX% the over X,XXX our of homes At pricing reflects or is in in Closings XX% consistent XX% adult, that prices QX, $XXX,XXX XX% noted of move-up under ASPs the which increased a included finished. total XX,XXX increase our X% increased only mix and active closings. communities to quarter, spec. prices and by $XXX,XXX. Within spec the The buyer we $XXX,XXX. we year which or average buyers and end quarter California homes with adult X%
production of average $XXX,XXX year to $XXX,XXX. homes, sales to X,XXX expect price and $XXX,XXX. us to This homes. our within would quarter closings guidance backlog slight to the the our which from guidance XX,XXX is for be we range Given to on be range we adjustment of deliveries expect fourth Based full current our QX to of the $XXX,XXX of our of production prior a in schedule, pipeline, X,XXX composition put our XX,XXX in
half which For the home. $XX,XXX It's worth our revenues very year, quarter the the XX approximately X% margin basis XX%, from to increased to option premiums, first X.X% discounts basis home. benefited points of is XXXX, and conditions last which or points operations the just price that selling continue of gross margin sales our level. XX over per $X,XXX decreased a per last at perform Reflective noting higher year lot average strong of in quarter, gross or sales third in was to $XX,XXX up over high the company's QX over as also
year QX market and quarter, This fourth our X.X% $XXX compares lower our more home home sale fourth down run SG&A statement. revenues towards XX.X%. XX.X% on overall of XX.X% competitive, we end to guidance expect have we sale of revenues. of SG&A our of was of our expected range be of the income to to for million $XXX come range the Based a or expenses SG&A quarter XX% to efforts efficient prior Continuing revenues. X.X% margin Reflecting million gross will quarter with ongoing that revenues. or home sale our of the expect business, closings in the in more third Given conditions likely expense gotten previous
up XX% quarter. is services last financial generated which year's income pretax over third of Our business has million, $XX
For the in as capture XX% originations market. that the quarter, It's to operations mortgage we in XX% as from in well experienced due generated conditions continue that our compressed increased from homebuilding resulting closings the the noting mortgage to highly competitive our QX operations. higher originations mortgage loan worth on margins decrease rate
We XX% our $X.XX net our over share per of a taxes. $X.XX represents of per share the expense quarter, an to Looking In XX% million income on increased rate XX.X%. which recorded earnings million. net million, was impressively, $XXX effective basis year $XXX income More represents tax for prior from a at share. our total, increase $XX tax which of income for quarter the per
of $XX.XX shares, the third $XX lower per is the to share our or X.X for to shares pursuant which using quarter from million share quarter per and million common average which with we XXX quarter. primarily million earnings activities, shares debt-to-capital last count of an XX cost third ratio diluted in or XX.X%. year. million We of cash share decrease The a the Our was for gross is ended in X% of due repurchase share a calculated QX repurchased ongoing million approximately $XXX
our related of target up earnings year. last increase out As a XX%. over quickly X% community to Community working XXX, debt-to-capital taking rather quarterly acceleration count our above range midpoint operations. certain few openings. quarter new leverage, for our previously to X% discussed, which of points prepared third finish close to strong X% XX% than is the communities reflects the our growth was the guidance in with my us This homebuilding to of of are lower comments I'll to data closer slower
for we an During option. purchase. approximately quarter, acquisition in the approved were quarter, and in land $XXX approved lots X,XXX invested XX% lots the some million the additional form under of Of
a now our XX% the to approximately our increase, is year-to-date disciplined, ended behind our option risk land trailing lots year-to-date see asset continue little pipeline measured increase quarter that are owned the we on returns our terms appear expect while $X.X under lot land although is owning reflects strong increase. progress At lot billion in operating Our in better generate option. of our on of continued be via future our risks. of performance. we've lots of supportive of less X.X with We the closings, control especially approximately focus and million improve XXX,XXX of of invested supply XX% between or development land spend our and market which the ensure than Based market with to years And the billion XXXX, and of goal spend months of time, the to approximately third $XXX cash position running controlled which duration our on Shortening is consistent $X allows reduced and line capital. XX XX% delivering to developing. long-term our the our land efforts us through-cycle three performance, steady overall acquisition with in years land to finally, being planned projected to toward making owned conditions given portion reducing investment less. same approach We flow lower changing
few turn me for final over Ryan a the Ryan? let Now to call comments.
