UPDATE 1-Homebuilder PulteGroup revenue jumps on higher sales, prices

(Adds details on earnings, background on housing market, shares move)

Jan 30 (Reuters) - PulteGroup Inc reported a 12.1 percent rise in fourth-quarter revenue, as the U.S. homebuilder sold more homes at higher prices, benefiting from a housing market that is witnessing supply constraints in the face of rising demand.

The company's shares were marginally up at $33.74 in light premarket trading on Tuesday.

Orders, a key metric of future revenue for homebuilders, rose 14.4 percent to 4,805 homes in the quarter ended Dec. 31.

Pulte, which mainly sells single-family homes, said the average price of homes sold increased 4.9 percent to $410,000 from a year earlier, while the number of homes sold rose 7 percent to 6,632 homes.

Housing demand remains robust but there is an acute shortage of homes for sale partly due to a shortage of labor, which has been lifting home prices.

Earlier this month, bigger rival Lennar Corp said strong economic growth in 2018 would offset concerns about housing demand being hit by cuts to tax relief on mortgages.

The No.3 U.S. homebuilder's net income fell to $77.4 million, or 26 cents per share, in the quarter, from $273.2 million, or 83 cents per share, a year earlier.

The company's profit was hurt by a charge of $181 million due to changes in the U.S. tax law and a $57 million pre-tax charge relating to land adjustments.

On an adjusted basis, the company earned 85 cents per share. Revenue rose 12.1 percent to $2.79 billion. (Reporting by Arunima Banerjee in Bengaluru; Editing by Arun Koyyur)