Every May, Builder magazine releases its ranking of the top 200 single-family home builders in the U.S. based on closings, including both homes built for sale and for rent.
The top 10 builders on this year’s list have largely held their positions from 2023, except for Toll Brothers and Century Communities, which have moved up to No. 9 and down to No. 10, respectively.
Even with high interest rates sidelining some potential buyers, most of the country’s top home builders have either held steady or improved their closing numbers, and build-to-rent remains popular as a means of reaching households that have been priced out of homeownership. In fact, one of the list’s biggest movers — rising from No. 147 to No. 77 in the span of one year — is Prominence Homes, a Birmingham, Alabama-based BTR firm that closed 712 homes in 2023, up from 336 in 2022.
Here’s how the list’s top 10 builders performed in the past year. To compare against last year’s numbers, see our 2023 coverage.
1. D.R. Horton
2023 revenue: $32.3 billion
2023 closings: 90,777 (including 5,860 build-to-rent homes)
Regions: Northeast, Midwest, South, West
Company fact: D.R. Horton, now in its 22nd year at the top of the list, has raised its build-to-rent construction numbers tenfold since 2022, according to Builder 100 data. It remains at No. 10 on the NMHC Top 25 Developers list, with 3,433 apartment units started in 2023.
2. Lennar Corp.
2023 revenue: $32.5 billion
2023 closings: 73,087 (including 977 condos and 558 build-to-rent homes)
Regions: Northeast, Midwest, South, West
Company fact: In December, Lennar announced that it is exploring the sale of its apartment portfolio, which totals over 11,000 units, reportedly worth $4.5 billion.
3. PulteGroup
2023 revenue: $15.6 billion
2023 closings: 28,603
Regions: Northeast, Midwest, South, West
Company fact: PulteGroup posted record-breaking first-quarter results this year, with $3.8 billion in revenue and 7,095 homes closed.
4. NVR
2023 revenue: $9.3 billion
2023 closings: 20,662
Regions: Northeast, Midwest, South
Company fact: NVR’s Ryan Homes brand has constructed over 500,000 homes since its founding in 1948.
5. Meritage Homes
2023 revenue: $6 billion
2023 closings: 13,976
Regions: South, West
Company fact: Meritage is the first builder to build all of its new homes to Energy Star standards. In addition, its California homes are built to California Energy Efficiency Standards, which exceed Energy Star requirements.
6. KB Home
2023 revenue: $6.4 billion
2023 closings: 13,236
Regions: South, West
Company fact: KB Home was included in Fortune’s 2023 Change the World list, recognized for building the first microgrid communities in California.
7. Taylor Morrison
2023 revenue: $7.2 billion
2023 closings: 11,495
Regions: South, West
Company fact: Taylor Morrison’s build-to-rent brand, Yardly, has grown to four properties leasing, two pre-leasing and 18 in progress across Arizona, Texas, North Carolina and Florida.
8. Clayton Properties Group
2023 revenue: $4 billion
2023 closings: 9,957 (including four build-to-rent homes)
Regions: Midwest, South, West
Company fact: Since 2022, Clayton Properties Group has expanded from nine to 14 regional home building brands. New additions include Berkeley Building Co., Shugart Homes and CraftMaster Homes.
9. Toll Brothers
2023 revenue: $9.9 billion
2023 closings: 9,597
Regions: Northeast, Midwest, South, West
Company fact: Toll Brothers Apartment Living currently stands at No. 24 on the NMHC Top 25 Developers list, with 2,433 units started in 2023.
10. Century Communities
2023 revenue: $3.6 billion
2023 closings: 9,568
Regions: Midwest, South, West
Company fact: Century has three in-house affiliates for the home purchase process — Inspire Home Loans, Parkway Title and IHL Home Insurance Agency.
