Top ten builders in the country snagged a record 44.7% of new single-family closings in 2024.
BUILDER Magazine has released further statistics on the top ten builders in each of the 50 major new home markets in the United States, as measured by single-family permits.
It is crucial to note that this piece does not focus on the top ten largest home builders in the country; rather, it examines the top 10 lists inside each of the top 50 new housing markets.
According to the 2024 data, the top ten builder concentrations in the 50 largest markets ranged from 38.9% in Kansas City, MO-KS to 97.8% in Cincinnati, Ohio.
In eleven metro areas, the top ten builders had a market share greater than 90%.
Across all 50 metro areas, the top ten builders had an average market share of 79.3%, up from 78.2% in 2023.
Looking at the results on a map, we can see that southern California, South Carolina, Florida, and sections of the Midwest have many highly concentrated markets, whereas Texas and the Northwest have lower levels of concentration (figure 1).
Lennar and D.R. Horton each reached the top ten builder list in 46 markets, the most of any builder. PulteGroup was next with 36 metro markets, followed by NVR and Meritage Homes with 22 and 20 markets, respectively.
From 2023 to 2024, 27 metro regions had an increase in their top 10 builders’ market share, compared to 36 from 2022 to 2023.
In 2024, seven metropolitan regions had double-digit increases:
- Oklahoma City, OK (+ 20.7 percentage points, 82.8 percent)
- Atlanta-Sandy Springs-Alpharetta, Georgia (+14.7 percentage points, 76.8%)
- Punta Gorda, FL (+11.5 percentage points; 85.9%)
- Philadelphia-Camden-Wilmington, PA, NJ, DE, MD. (+10.7 percentage points, 87.5 percent)
- Greenville—Anderson, SC (+10.6 percentage points; 89.3%)
- Salt Lake City, Utah (+10.5 percentage point, 69.8%)
- Charleston-North Charleston, SC (+10.4 percentage points, 92.3 percent)
Meanwhile, 20 metro regions had a reduction in their top 10 builders’ market share from 2023 to 2024, up from 9 declines from 2022 to 2023.
The most significant decreases occurred in Miami-
- Miami-Fort Lauderdale-Pompano Beach, FL (-18.1 percentage points, 72.4%)
- Los Angeles-Long Beach-Anaheim, CA (-14.7 percentage points, 75.6%)
- Orlando-Kissimmee-Sanford, FL (-11.6 percentage points, 76.8%)
- Tucson, AZ (-10.4 percentage points, 82.4%
Cape Coral-Fort Myers, FL’s top 10 builder concentration (96.2%) remained same from 2023 to 2024, while Fresno, CA and Spartanburg, SC joined the top 50 in 2024.
The ranking only includes builders who create condos for sale.
[Read more about this topic on Eyeonhousing.org]