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PulteGroup At Nosebleed Levels - This Could Get Ugly

Shares of homebuilder PulteGroup (NYSE:PHM) have been range bound for about two years. The company, which develops real estate for residential properties, saw it has beaten down shares boosted in 2012 by a resurgence in home buying that has since abated, leaving shares to drift. With rates still low and inventory bouncing along the bottom, is now a good time to get into Pulte? In this article I'll take a look at the developer to see if the long period of consolidation could lead to some potential…