Residential Construction Contractors Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 6/6/2022
SIC Codes: 1521, 1522, 1531
NAICS Codes: 2361
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Residential Construction Contractors Industry Profile

Companies in this industry construct and renovate residential buildings. Major companies include DR Horton, KB Home, Lennar, NVR Construction Limited, and PulteGroup (all based in the US), as well as Country Garden (China), Daiwa House (Japan), and Desarrolladora Homex (Mexico).

Global construction of new housing is forecast to grow 3.1% per year through 2025 to 59.2 million units, rebounding from the steep declines of 2020 caused by the COVID-19 pandemic, according to Freedonia. Long-term growth in the industry will be driven by factors including growing urban population levels, low interest and mortgage rates, rising living standards within the Asia/Pacific and Africa/Mideast regions, and increasing subsidized housing to reduce informal dwellers.

The US residential construction contracting industry includes about 170,000 establishments (single-location companies and units of multi-location companies) with annual revenue of about $340 billion.

Builders of both single-family and multifamily housing are included in the industry, as are residential remodelers. The industry includes general contractors, who build on land owned by others, and operative builders, who build on land they own or control. Specialty trade contractors such as plumbers and electricians, who often work as subcontractors for residential construction contractors or operative builders, are covered in separate profiles.

COMPETITIVE LANDSCAPE

Demand is driven by population growth and economic growth. The profitability of individual companies depends on efficient operations and securing favorable building locations. Large builders enjoy economies of scale in purchasing. Small companies ...

 
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