Who Are the Largest Homebuilders in the U.S.?
It is no surprise that many of the top names will be familiar to South Carolina residents. How many homes did they sell and how much money did they make?
Builder Online released its annual report of the largest homebuilders in the United States for 2020. While predictions were that the coronavirus pandemic would dampen homebuilder earnings for 2020, that has not turned out to be the case. Homebuilders posted large profits for 2020 and the same several homebuilders continue to top the rankings.
As reported by Builder Online, the nation’s top ten largest homebuilders, the number of homes they sold, their total revenues in 2020, and their 2020 profits where available from public filings, were:
|1. D.R. Horton||71,292||$21.5 Billion||$3 Billion|
|2. Lennar||53,376||$20.8 Billion||$2.5 Billion|
|3. Pulte Group (Pulte, Centex, Del Webb, John Wieland)||24,624||$9.9 Billion||$1.4 Billion|
|4. NVR (Ryan Homes)||19,766||$7.3 Billion||$901 Million|
|5. Taylor Morrison||12,524||$6.1 Billion||$243 Million|
|6. Meritage Homes||11,834||$4.4 Billion||$423 Million|
|7. KB Home||10,672||$4.2 Billion||$296 Million|
|8. Clayton||9,475||$3 Billion||Not Available|
|9. Century Communities (Realstar)||9,453||$3 Billion||$206 Million|
|10. LGI Homes||9,453||$2.4 Billion||$323 Million|
While most of the large homebuilders experienced significant growth in 2020, a few homebuilders with South Carolina connections made dramatic moves. Clayton Properties Group jumped three spots from its previous ranking. Clayton acquired Mungo Homes in 2018, so the significant growth presumably comes from Mungo’s home construction in South Carolina.
Of the homebuilders not in the top ten who build a significant number of homes in South Carolina:
- Beazer Homes ranked seventeenth with 5,494 home closings and $2.1 billion in revenues.
- Hovnanian ranked fourteenth with 6,414 home closings and $2.6 billion in revenues.
- Ashton Woods moved up three spots to rank fifteenth reflecting growth in Charleston and other areas in the South and West, and Ashton Woods had 5,998 home closings in 2020 and $1.9 billion in revenues.
- David Weekley ranked sixteenth with 5,560 closings and $2.5 billion in revenues.
- Stanley Martin jumped from ranking 32nd the previous year to 21st in 2020 with 3,436 home closings and $1.3 billion in revenue.
- Dan Ryan dropped four spots to rank 29th with 2,877 closings and $961 million in revenues.
- True Homes fell several spots to rank 39th with 2,004 home closings and $508 million in revenues.
- Eastwood Homes ranked 49th with 1,525 home closings and $491 million in revenues.
- Great Southern Homes ranked 50th with 1,471 home closings and $332 million in revenues.
- Crescent Homes fell to 117th with 492 home closings and $192 million in revenues: and
- Hunter Quinn Homes ranked 195th with 201 home closings and $61 million in revenues.
There is nothing inherently wrong with a homebuilder being a large homebuilder. Our communities, especially in rapidly growing areas of South Carolina, need new homes, and large homebuilders often can provide more affordable new homes. There is also nothing inherently wrong with large homebuilders making large profits. Problems arise when large homebuilders cut corners, use unqualified subcontractors, and don’t properly supervise their subcontractors, all to reduce costs and increase profits.
Homebuilders are obligated to properly build homes. Home purchasers don’t know the details of proper construction, and even if they did, they can’t see inside walls to see how a home was built. Homebuyers reasonably expect the homebuilder to know those details and ensure a home is built properly. South Carolina law agrees and places the responsibility on a homebuilder to properly construct a home in accordance with the building code, industry standards, and manufacturers’ instructions and in a manner that keeps water from coming into the home.
When homebuilders place profits ahead of quality construction, the construction lawyers at The Steinberg Law Firm take them to court to hold them responsible. Homeowners should not be stuck with costly repairs resulting from improper construction just so that a homebuilder could increase its profits. We are all for businesses making a profit, but only when the profit comes as the result of giving home purchasers the proper construction they were guaranteed.
If you have problems with your home or condo — leaking windows, water stains on walls or ceilings, cracking floors or walls, or other damage — call the construction lawyers at The Steinberg Law Firm at 843-720-2800. We will discuss your issues with you and options to address them, all at no cost or obligation for you.