2017 was a big year for builders on the Builder 100 list--total gross revenue of the top 200 builders finally eclipsed 2007 levels, and closings recovered 120% from 2010, when the lowest amount of annual closings was reported in the history of the Builder 100.
According to Metrostudy, the research arm of BUILDER's parent company Hanley Wood, the top 200 builders have also continued to increase their market share in the national new home market.
Over the past 10 years, the top 200 builders have increased their stake in the national new home market by 50%--from 42.23% of the market in 2007, to 63.61% of the market in 2017.
This growth is largely attributed to the 10 largest builders on the Builder 100 list, which account for 32.82% of the market nationwide--just over half of the total market share of the top 200 builders combined.
In the scope of total closings reported by the 200 builders on our 100 list, the top 10 builders play an even more significant role: The top 10 builders accounted for 51.40% of the total 326,984 closings reported, with 168,060 unit closings in 2017.
Additionally, total gross revenue of the Top 100/Next 100 builders amounted to $133 billion in 2017. The top 10 builders grossed $69,202 billion, accounting for 51.99% of the total gross revenue.
From 2007 to 2010, closings and revenue of the top 200 home builders bottomed out—dropping 62% and 64%, respectively, in the span of three years. The nation's top builders have worked hard the past seven years to come back from that low point, by streamlining operations, developing additional product offerings, and making tough calls to ensure good margins. (Click here for more about the recession's effect on home building.)
