Recent housing market data, from Phoenix, Arizona shows Fulton Homes, produced a 6.88% market share for June based on its closings. The large homebuilder has closed 669 homes contrary to the failing economy and Arizona’s high rate of unemployment.
The market share is one of the largest of its kind for the company, for new home closings. CEO of Fulton Homes, Douglas Fulton said in a statement recently, “We are thrilled by this tremendous news and it validates our strategy of repositioning our products in a very difficult market and continuing to put buyers first. At Fulton Homes, we have competitively priced our homes in order to compete with foreclosures and short sales and now, our customers are obviously the winners…”
RealtyTrac recently reported the state of Arizona had the country’s second highest foreclosure rate, during the first part of this year—3.36% of its housing units, which equals one in 30 homes, have filed for foreclosure. Nevada came in first.
Since 1975, the family owned Fulton Homes, has become one of Arizona’s top homebuilders and businesses; and has been recognized as the “49th largest builder in The United States—according to Builder Magazine.
Despite the ailing housing market’s downfall, the company has managed to continue to sell homes and generate revenue. A majority of their homes offered go for an estimated $116,500-$140,000. They also work closely with homebuyers, which has lead to referrals and expansion of their client base.