Who are the nation’s largest homebuilders? How many homes do they build and how much money do they make?
Builder Online released its annual report of the largest homebuilders in the United States for 2019. While the coronavirus pandemic will likely dampen homebuilder earnings for 2020, homebuilders posted large profits for 2019 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, and their total revenues in 2019, and their 2019 profits where available from public filings, were:
|D.R. Horton||52,569||$15.7 billion||$1.6 billion|
|Lennar||48,856||$18.8 billion||$1.8 billion|
|Pulte Group (Pulte and Del Webb)||23,107||$9.8 billion||$1 billion|
|NVR (Ryan Homes)||18,447||$7 billion||$923 million|
|KB Home||11,317||$4.5 billion||$268 million|
|Taylor Morrison||8,760||$4 billion||$254 million|
|Meritage Homes||8,531||$3.5 billion||$250 million|
|Toll Brothers||8,265||$7.1 billion||$590 million|
|Century Communities (Realstar)||7,092||$2.3 billion||$112 million|
|LGI Homes||6,512||$1.5||$178 million|
Of the homebuilders not in the top ten who build a significant number of homes in South Carolina:
- Beazer Homes ranked thirteenth with 5,767 closings and $2 billion in revenues;
- Hovnanian ranked fourteenth with 5,758 closings and $2.5 billion in revenues;
- David Weekley ranked sixteenth with 4,687 closings and $2.2 billion in revenues;
- Ashton Woods ranked nineteenth with 4,057 closings and $1.6 billion in revenues;
- Clayton (which recently purchased Mungo Homes) ranked twentieth with 3,999 closings and $1.3 billion in revenues;
- Dan Ryan ranked twenty-fifth with 2,217 closings and $654 million in revenues;
- True Homes ranked thirty-fourth with 1,159 closings and $403 million in revenues;
- Stanley Martin ranked thirty-fifth with 1,482 closings and $706 million in revenues;
- Eastwood Homes ranked fiftieth with 1,105 closings and $320 million in revenues;
- Great Southern Homes ranked fifty-fourth with 947 closings and $200 million in revenues;
- Essex Homes ranked sixty-fourth with 753 closings and $251 million in revenues;
- Crescent Homes ranked one hundred-second with 392 closings and $130 million in revenues; and
- Sabal Homes ranked one hundred-ninety-first with 193 closings and $67 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 provide 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 in an effort 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. Home purchasers rightfully expect the homebuilder to know those details and ensure a home is built properly, and South Carolina law agrees and places the responsibility on a homebuilder to properly construct a 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 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.