The top ten builders1 accounted for 43.6% of all new U.S. single-family home closings in 2025, down 1.2 percentage points from 2024 (44.8%), based on BUILDER magazine data.
The 2025 share constitutes 295,959 closings out of 679,083 new single-family houses sold in 2025. However, closings by the top ten builders only represent 29.5% of new single-family home completions, a wider measure of home building that covers not-for-sale home construction. That share is down 0.6 percentage points from 2024 (30.1%), Also of note, the top 15 builders accounted for more than half of all closings (50.1%) for the second consecutive year.
Historically, the market share for closings among the top ten builders has trended upward, albeit unevenly. Starting in 1989, this share was 8.7% and took approximately a decade to double to 18.7% in 2000. It achieved a pre-Great Recession peak of 28.2% in 2006 then dropped below that level for about a decade until it reached 31.5% in 2018. After declining in 2019 and 2020, the share rebounded and exceeded 40% for the first time in 2022 (43.5%). A record high was achieved in 2024 (44.8%) before slipping to 43.6% in 2025.
Similar to closings, the trend for completions among the top ten builders has been rising, but with reduced volatility. The share started at 5.6% in 1989 and reached double digits ten years later at 11.3%. It achieved a pre-Great Recession peak of 17.9% in 2006 before falling for two consecutive years. Since 2009, the share has remained on an upward trajectory, breaking the 20% threshold for the first time in 2015 (21.0%). A record high was achieved in 2024 (30.1%), before slipping to 29.5% in 2025.
The top five highest producing builders did not change from 2024 to 2025, with D.R. Horton maintaining its position as America’s largest single-family home builder. D.R. Horton captured 12.8% of the for-sale market with 87,168 closings, marking a fifth consecutive year with a market share above 10%, and the 24th consecutive year atop the list. Nevertheless, this was D.R. Horton lowest share since 2021 (10.7%). Meanwhile, Lennar (the second largest builder) saw its market share in 2025 increase to a series-high of 12.2%. That was only 0.6 percentage points behind D.R. Horton, the closest difference since 2018. Results also show that 2025 marked the fourth year in a row where the top five builders accounted for more than a third (34.8%) of overall closings, with PulteGroup, NVR, and Meritage Homes achieving 4.4%, 3.2%, and 2.2% respectively.
The list of the top ten builders (all publicly traded companies) did not change from 2024 to 2025. Most of the top ten builders experienced little to no change from 2024 to 2025 in terms of their share of the for-sale market, with the exceptions of D.R. Horton (-0.8 pp) and Lennar (+0.5 pp).
Builder Magazine will release Local Leaders data on the top ten builders in the top 50 largest new-home markets in the U.S. where ranking is determined by the number of single-family permits, which NAHB will analyze in a later post.