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Top Ten Builder Share Across Largest Housing Markets – Eye On Housing

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An earlier post described how the top ten builders  in the country accounted for 43.6% of new single-family closings in 2025. BUILDER magazine has now released additional data on the top ten builders within each of the 50 largest new home markets in the U.S., ranked by single-family permits. It is important to note that this post does not focus on the top ten largest home builders nationally; instead, it analyzes the top ten list within each of the largest 50 new housing markets.

The 2025 data show that the top 10 builder concentration in the 50 largest markets ranged from 53.4% in Nashville-Davidson-Murfreesboro-Franklin, TN to 99.5% in Tucson, AZ. In ten metro areas, the top ten builders’ market share exceeded 90%. Across all 50 metro areas, the average market share of the top 10 builders was 78.9%, down slightly from 79.3% in 2024.  

Looking at the results on a map reveals that South Carolina, southern Florida, and parts of the Midwest continue to include multiple highly concentrated markets, while Texas, the Northwest and the Mountain West markets have lower levels of concentration.

D.R. Horton made the top ten builder list in 47 markets, followed closely by Lennar at 45 markets. Both companies are present within the same top ten builder list in 42 metro areas. PulteGroup was next with 36 metro markets, followed by Meritage Homes and NVR with 22 and 20 metro markets, respectively.

From 2024 to 2025, 20 metro areas saw an increase in their top 10 builders’ market share, lower than the 27 increases from 2023 to 2024. The largest increases were seen in:

Tucson, AZ (+17.1 percentage points, 99.5%)

Miami-Fort Lauderdale-West Palm Beach, FL (+16.9 percentage points, 89.3%)

Richmond, VA (+8.7 percentage points, 91.3%)

Wilmington, NC (+8.4 percentage points, 80.8%)

On the other hand, 26 metro areas saw a decline in their top 10 builders’ market share from 2024 to 2025, up from 20 decreases from 2023 to 2024. Six metro areas experienced a double-digit decrease in 2025:

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (-18.2 percentage points, 69.3%)

Atlanta-Sandy Springs-Roswell, GA (-13.4 percentage points, 63.4%)

Jacksonville, FL (-12.1 percentage points, 74.4%)

Cape-Coral-Fort Myers, FL (-12.0 percentage points, 84.2%)

Salt Lake City-Murray, UT (-11.6 percentage points, 58.2%)

Spartanburg, SC (-10.4 percentage points, 83.1%)

The remaining four largest markets are new to the top 50 market list in 2025: Wildwood-The Villages, FL; Huntsville, AL; Punta Gorda, FL; and Colorado Springs, CO



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Top Ten Builder Market Share Falls in 2025 – Eye On Housing

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The top ten builders accounted for 43.6% of all new U.S. single-family home closings in 2025, down 1.2 percentage points from 2024 (44.8%), based on BUILDER magazine data.

The 2025 share constitutes 295,959 closings out of 679,083 new single-family houses sold in 2025. However, closings by the top ten builders only represent 29.5% of new single-family home completions,  a wider measure of home building that covers not-for-sale home construction. That share is down 0.6 percentage points from 2024 (30.1%), Also of note, the top 15 builders accounted for more than half of all closings (50.1%) for the second consecutive year.

Historically, the market share  for closings among the top ten builders has trended upward, albeit unevenly. Starting in 1989, this share was 8.7% and took approximately a decade  to double to 18.7% in 2000. It achieved a pre-Great Recession peak of 28.2% in 2006   then dropped below that level for about a decade until it reached 31.5% in 2018. After declining in 2019 and 2020, the share rebounded and exceeded 40% for the first time in 2022 (43.5%). A record high was achieved in 2024 (44.8%) before slipping to 43.6% in 2025.

Similar to closings, the trend for completions among the top ten builders has been rising, but with reduced volatility. The share started at 5.6% in 1989 and reached double digits ten years later at 11.3%. It achieved a pre-Great Recession peak of 17.9% in 2006 before falling for two consecutive years. Since 2009, the share has remained on an upward trajectory, breaking the 20% threshold for the first time in 2015 (21.0%). A record high was achieved in 2024 (30.1%), before slipping to 29.5% in 2025.

The top five highest producing builders did not change from 2024 to 2025, with D.R. Horton maintaining its position as America’s largest single-family home builder. D.R. Horton captured 12.8% of the for-sale market with 87,168 closings, marking a fifth consecutive year with a market share above 10%, and the 24th consecutive year atop the list. Nevertheless, this was D.R. Horton lowest share since 2021 (10.7%). Meanwhile, Lennar (the second largest builder) saw its market share in 2025 increase to a series-high of 12.2%. That was only 0.6 percentage points behind D.R. Horton, the closest difference since 2018. Results also show that 2025 marked the fourth year in a row where the top five builders accounted for more than a third (34.8%) of overall closings, with PulteGroup, NVR, and Meritage Homes achieving 4.4%, 3.2%, and 2.2% respectively.

The list of the top ten builders (all publicly traded companies) did not change from 2024 to 2025.  Most of the top ten builders experienced little to no change from 2024 to 2025 in terms of their share of the for-sale market, with the exceptions of D.R. Horton (-0.8 pp) and Lennar (+0.5 pp).

Builder Magazine will release Local Leaders data on the top ten builders in the top 50 largest new-home markets in the U.S. where ranking is determined by the number of single-family permits, which NAHB will analyze in a later post.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Top Ten Builder Share Rises Again in 2024

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The top ten builders captured a record 44.7% of all new U.S. single-family home closings in 2024, up 2.4 percentage points from 2023 (42.3%). This is the highest share ever captured by the top ten builders since NAHB began tracking BUILDER magazine data on new single-family home closings in 1989. The 2024 share constitutes 306,932 closings out of 686,000 new single-family houses sold in 2024. However, closings by the top 10 builders only represent 30.1% of new single-family home completions, a wider measure of home building that covers not-for-sale home construction. Also of note, the top 15 builders accounted for more than half of all closings (51%) for the first time ever in 2024.

The top ten builder share has increased significantly –albeit unevenly– in the last 35 years. In 1989, the top ten builders accounted for only 8.7% of single-family home closings. By 2000, the share had more than doubled to 18.7%, growing to 28.2% by 2006 and 31.5% by 2018. After slight declines in 2019 and 2020, the share exceeded 40% for the first time in 2022 (43.5%) and reached a record high in 2024 (44.7%). (Figure 1).

Meanwhile, the top ten builder share by completions, has also trended upward, with a share of just 5.6% in 1989. It reached double digits for the first time in 1999 (11.3%) and rose to a cycle high of 17.9% in 2006. The share broke the 20% mark for the first time in 2015 (21.0%) and has continued to trend upward since, reaching an all-time high of 30.1% in 2024 (Figure 1).

The top five highest producing builders did not change from 2023 to 2024, with D.R. Horton maintaining its position as America’s largest single-family home builder. D.R. Horton captured 13.6% of the market with 93,311 closings, marking a fourth consecutive year with a market share above 10%, and a 23rd consecutive year atop the list. Results also show that 2024 marked the third year in a row where the top three builders accounted for more than a quarter (29.9%) of overall closings, with Lennar and PulteGroup achieving 11.7% and 4.6%, respectively. With 3.3% and 2.3% of overall closings, NVR and Meritage Homes ranked fourth and fifth on the list, respectively.

Notably, SH Residential Holdings (U.S. subsidiary of Sekisui House, a Japanese homebuilder, who acquired M.D.C. Holdings in 2024) broke into the top ten in 2024, ranking sixth on the list with 2.2% of the market. Clayton Properties Group, ranking 8th in 2023, fell out of the top 10 for the first time since 2019. KB Home (2.1%), Taylor Morrison (1.9%), Century Communities (1.6%), and Toll Brothers (1.6%) round out the top 10 builders for 2024 (Figure 2).

Builder Magazine also released Local Leaders data on the top 10 builders in the top 50 largest new-home markets in the U.S. where ranking is determined by the number of single-family permits, which NAHB will analyze in a later post.

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This article was originally published by a eyeonhousing.org . Read the Original article here. .

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