Although public builder D.R. Horton retained its status as the #1 homebuilder by closings, private builder David Weekley homes surpassed Shea Homes for the first time as the top for-profit builder not publicly owned. From a BuilderOnline.com story:
Stop the presses: David Weekley Homes eclipsed Shea Homes as the biggest private for-profit builder in the country last year, according to Builder magazine’s Builder 100 survey. Companies in Builder magazine’s annual Builder 100 list, to be released online in early May, are ranked by closings...
Shea remained the largest private builder in terms of revenue, with $2.15 billion in revenue, followed by Weekley at $1.34 billion, and the Related Group, a Miami-based condominium builder, at $1.257 billion...
Company | Pct. change (v. '06 closings) | '07 Closings | '07 Revenue |
Horton | -29% | 37,717 | 10,171 |
Lennar | -33 | 33,283 | 10,187 |
Centex | -18 | 30,684 | 9,732 |
Pulte | -34 | 27,540 | 9,263 |
KB Home | -28 | 23,743 | 6,417 |
Hovnanian Enterprises | -26 | 14,928 | 5,334 |
NVR | -11 | 13,513 | 5,129 |
Beazer Homes | -35 | 11,366 | |
The Ryland Group | -33 | 10,319 | 3,033 |
MDC Holdings | -38 | 8,195 | 2,933 |
Most Builder 100 companies recorded a double-digit decline in sales last year. Condo builders bucked the trend. The top 10 condo builders on the Builder 100 did about the same business in 2007 as they did in 2006.
For the second consecutive year, Miami-based Lennar Corp. topped the For-Sale Condo list, closing 3,136 units. Lennar was followed by The Related Group (2,082), MCZ Development (1,735), Epcon Communities (1734), and Centrum Properties (1,657), all condo specialists.
Virtually all of the The Related Group’s closings were in Miami and Ft. Lauderdale. Centrum Enterprises, which closed 691 for-sale condos in Miami last year, plans to enter two more states next year. Epcon projects that it will do even more condo business in 2008.
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