Leading home builders in the U.S. 2023, by revenue

Lennar Corp. was the homebuilder with the highest gross revenue in the United States in 2023. The Florida-based company reached a homebuilding revenue of 32.5 billion U.S. dollars. It was closely followed by D.R. Horton, which had its headquarters in Arlington (Texas) and generated a revenue of over 32 billion U.S. dollars. 

Challenges to the residential construction market

The number of private housing units started fell around the time of the global financial crisis (2007-2009), but has since recovered – though not to the heights of 2006. The value of residential construction in the U.S. has been increasing since 2011. However, that trend is expected to come to an end in 2023, as housing put in place is expected to decrease in the next years. That indicates that the revenues earned by home construction companies, such as D.R. Horton, may also be affected. 

New home sales follow the same trend

Unsurprisingly, the number of new houses sold follows the same pattern. The property crash of 2008, which was a leading factor in the global financial crisis at that time, impacted residential property sales in the United States. Although this market has recovered slowly in the years after the financial crisis, the growth in the number of new houses sold has stopped, as home sales have fallen significantly in 2021 and 2022. The number of single-family homes started began to increase in 2012, which roughly coincided in time with the period of recovery of the real estate market, but it has also decreased more recently.