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Pulte: M&A activity buying opportunity in housing
Despite weaker than expected March housing starts, Pulte Capital Partners CEO Bill Pulte sees healthy signs from the housing market.
"If you ignore the noise, the housing market is still strong," Pulte said on CNBC's Halftime Report. "One of the things we're seeing in the market is a lot of M&A activity, especially amongst building products companies."
Pulte said mergers and acquisitions in the housing market makes building product stocks very attractive."Fortune Brands (NYSE: FBHS), Masco (NYSE: MAS), and Builders First Source (NASDAQ: BLDR) have been doing transactions and spin-offs recently," Pulte said.
Due to lower inventory or interest rates, we're in a sellers' market, Pulte said. "Sellers' now have leverage in many cases and are selling their homes in record times."
Pulte said there are three main things driving homebuyers' confidence: "general economy, interest rates, and mortgage standards."
-By CNBC Producer Bree Kelly. Follow her on Twitter @Bree_Kelly
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