Home buyers have a lot of choose from, but one great option we don’t talk about enough is buying a newly constructed home. While Sacramento lags behind the rest of the country in new home construction, there still are some great new projects breaking ground. So we decided to bring you a brief profile on each of the top 10 new home builders in the U.S., with total closings and total revenue (in millions) for 2015.
Remember that we offer highly competitive low-rate mortgages even for buyers who are shopping for new homes!
#1 D.R. Horton
Total closings 2015: 36,736
Revenue in 2015: $10,938
D.R. Horton now holds this distinction as the biggest home builder in America, with homes for sale in 71 markets and 26 states. The 3,000-employee company was founded in 1978 and makes Fort Worth, Texas its home base, focusing on single family homes for middle class and high-end buyers.
#2 Lennar Corp.
Total closings 2015: 24,292
Revenue in 2015: $9,474
Lennar Home Builders is one of the oldest in the nation, founded in 1954. Since then, they’ve concentrated on building single level homes for the retirement and over 55+ demographic, along with great amenities like golf, walking trails, and community meeting places. Lennar even has a specialized customer care team that helps homeowners get accustomed to their new houses. The fact that they are #2 in America shows the huge demographic of Baby Boomers and seniors that are buying homes more appropriate for their golden years.
#3 Pulte Group
Total closings 2015: 17,127
Revenue in 2015: $5,982
Pulte Group Inc is a large and multidimensional builder based out of Atlanta, Georgia and operating in 51 markets in 26 states. Building a spectrum of single family homes, condos, and townhomes, the company has recovered soundly from financial problems in 2007-2009 during the real estate crash by focusing on helping first-time homebuyers and move-up buyers.
#4 CalAtlantic Group
Total closings 2015: 12,560
Revenue in 2015: #5,280
While the name might not sound familiar, you probably have heard of Standard Pacific Homes. In fact, Standard Pacific Homes and Ryland Homes merged in In June 2015 to form the formidable CalAtlantic Group. Based in Irvine, California, this builder now makes homes for a broad range of buyers and in major metropolitan areas in California, Florida, Arizona, the Carolinas, Texas, Colorado, and Nevada.
#5 KB Home
Total closings 2015: 8,196
Revenue in 2015: $3,032
KB Homes started building and selling homes in 1957 to serve the population boom after GIs returned home from WWII. It’s been crafting “quality, yet affordable” houses ever since, providing homes for more than 550,000 owners! They’ve also helped build some unique houses for promotional use for Walt Disney, Martha Stewart, and even a replica of the Simpson’s house from the popular 1990s television show.
#6 Meritage Homes Corp.
Total closings 2015: 6,522
Revenue in 2015: $2,579
Meritage Homes Corporation of Scottsdale, Arizona was founded in 1985 and has been a fast riser since, building 75,000 homes. In fact, Fortune Magazine has named Meritage “One of the Fastest Growing Companies in America.” It now focuses on retirement communities in its home state, operating by the mission statement, “To build incredible new homes and communities in prime locations for fantastic prices.”
#7 Taylor Morrison
Total closings 2015: 6,311
Revenue in 2015: $2,977
Taylor Morrison may be a relative newcomer, as it was founded in 2007 when established home builders Taylor Woodrow and Morrison Homes merged, but it quickly became one of the biggest in the U.S. From its corporate headquarters in Scottsdale, Arizona, Taylor Morrison builds communities in Arizona, California, Colorado, Georgia, Florida, Illinois, North Carolina, South Carolina and Texas.
#8 Hovnanian Enterprises
Total closings 2015: 5,757
Revenue in 2015: $2,264
Hovnanian Enterprises began way back in 1959 when four friends came together with only $1,000 each to start a home building business. Today, Hovnanian has grown to a $1.5 billion business with 1,500 workers, operating in 20 states.
#9 Toll Brothers
Total closings 2015: 5,525
Revenue in 2015: $4,171
Toll Brothers is the most prominent luxury home builder in America, with an average sale price of $755,000, or about 2.5 times that of the average home selling price. Despite its lofty price tags, the company comes from humble roots, founded in 1967 in Pennsylvania by brothers Robert I. Toll and Bruce E. Toll, who’s father was a builder. They now operate in 50 markets in 19 states across the country.
#10 Beazer Homes USA
Total closings 2015: 5,010
Revenue in 2015: $1,571
Beazer Homes focus on building single family homes for middle-income homes in 20 states. While it’s now operating on financial terra firma, it took a big hit when its mortgage division was exposed for fraudulent and illegal practices in 2009, costing the company a payout of $50,000,000.
(Stick to home building and leave the mortgages to us!)