By Brian Croce
With the housing crash squarely in the rearview mirror, the last couple years have been a time of major growth for many public builders. The need for new homes has only grown stronger as inventory levels remain low, and the 10 companies on the list below have capitalized on buyer demand.
From 2014 to 2016, two public builders doubled their yearly closings. AV Homes, No. 24 on the BUILDER 100 list, placed first among the faster-growing publics with 158.66% growth, from 953 units closed in 2014 to 2,465 in 2016. The New Home Company (No. 46) took second with 130% growth, posting 1,084 closings in 2016 compared to 534 in 2014.
WCI Communities (No. 40), which was purchased by Lennar in February for approximately $643 million, posted a 98.14% growth in closings from 2014 to 2016 – 644 to 1,276. At No. 59, UCP’s closings rose 89.81%, up to 820 last year.
The biggest builder on the list, D.R. Horton (No. 1), grew at the ninth-fastest rate among public builders, but saw its closings rise 36.76%, from 30,455 in 2014 to 41,652 in 2016.
Fellow top 10 builder, KB Home (No. 6), jumped from 7,215 closings in 2014 to 9,829 in 2016 – a 36.23% growth.