Brick by brick: Potential first-time home buyers are flocking to Pennsylvania's major cities, generating demand

Over the five years to 2018, the Home Builders industry in Pennsylvania is anticipated to grow at an annualized rate of 3.0% to total $2.6 billion, including a projected 4.0% jump this year. Favorable macroeconomic conditions, declining statewide unemployment and rising home prices in the state have supported an increase in demand for new single-family residential construction, with housing starts in Pennsylvania anticipated to rise an annualized 2.8% during the five-year period. Steady demand conditions have created opportunities for full-time employment within the state industry, leading the number of industry employees to expand an estimated annualized 0.9% during the period to total 15,946 workers...purchase to read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 13-18
3.0%
Forecast Growth 18-23
Profit
Employment
15,946
Businesses
8,804

Industry Threats & Opportunities

  • Steady demand conditions have created opportunities for full-time employment within the state industry
  • Additional Insights for the Home Builders in Pennsylvania Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Home Builders in Pennsylvania Industry are

  • Having a high prior success rate (including completed prior contracts)
  • Access to multiskilled and flexible workforce
  • Development of a symbiotic relationship with another industry
  • IBISWorld analysts also discuss how external factors such as year conventional mortgage rate and Housing starts in Pennsylvania in the Home Builders in Pennsylvania industry impact industry performance..

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    What's in this report

    What is the Home Builders in Pennsylvania Industry?

    Industry operators primarily construct single-family homes, where units are separated by ground-to-roof walls and have no units above or below. The industry also includes remodeling of houses and other residential buildings. Industry operators are general contractors, design-build companies and single-family construction management companies acting as general contractors and builders.

    Industry Products
  • Vinyl siding-exterior homes
  • Wood-exterior homes
  • Brick-exterior homes
  • Fiber cement-exterior homes
  • Stucco-exterior homes
  • Other-exterior homes
  • Industry Activities
  • Single-family homebuilding and general contracting (i.e. detached housing units, townhouses and row houses)
  • Single-family-housing construction management
  • Low-income single-family-housing construction
  • Residential remodeling construction management
  • Handyman construction for residential buildings
  • Similar Industries
  • Construction
  • Land Development
  • Apartment & Condominium Construction
  • Architects
  • Engineering Services
  • Residential Building Construction in California
  • Home Builders in Illinois
  • Apartment & Condominium Construction in Illinois
  • Remodeling in Illinois
  • Home Builders in Texas
  • Home Builders in Florida
  • Apartment & Condominium Construction in Florida
  • Remodeling in Florida
  • Home Builders in Massachusetts
  • Apartment & Condominium Construction in Massachusetts
  • Remodeling in Massachusetts
  • Home Builders in Ohio
  • Remodeling in Ohio
  • Apartment & Condominium Construction in Ohio
  • Apartment & Condominium Construction in Pennsylvania
  • Remodeling in Pennsylvania
  • Home Builders in New Jersey
  • Apartment & Condominium Construction in New Jersey
  • Remodeling in New Jersey
  • Home Builders in Georgia
  • Apartment & Condominium Construction in Georgia
  • Remodeling in Georgia
  • Home Builders in Michigan
  • Apartment & Condominium Construction in Michigan
  • Remodeling in Michigan
  • Home Builders in Wisconsin
  • Apartment & Condominium Construction in Wisconsin
  • Remodeling in Wisconsin
  • Home Builders in Washington
  • Apartment & Condominium Construction in Washington
  • Remodeling in Washington
  • Home Builders in Virginia
  • Apartment & Condominium Construction in Virginia
  • Remodeling in Virginia
  • Home Builders in Tennessee
  • Apartment & Condominium Construction in Tennessee
  • Remodeling in Tennessee
  • Home Builders in Missouri
  • Apartment & Condominium Construction in Missouri
  • Remodeling in Missouri
  • Home Builders in North Carolina
  • Apartment & Condominium Construction in North Carolina
  • Remodeling in North Carolina
  • Home Builders in Minnesota
  • Apartment & Condominium Construction in Minnesota
  • Remodeling in Minnesota
  • Home Builders in Maryland
  • Apartment & Condominium Construction in Maryland
  • Remodeling in Maryland
  • Home Builders in Colorado
  • Apartment & Condominium Construction in Colorado
  • Remodeling in Colorado
  • Apartment & Condominium Construction in New York
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • year conventional mortgage rate
  • Housing starts in Pennsylvania
  • Population of Pennsylvania
  • Unemployment rate in Pennsylvania
  • Value of residential construction in Pennsylvania

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Home Builders in Pennsylvania Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Finance and Insurance
  • Administration of Government Programs
  • Consumers

  • Key Selling Industries
  • Cement Manufacturing
  • Clay Brick & Product Manufacturing
  • Construction
  • Hardware and Plumbing and Heating Equipment and Supplies Wholesalers
  • Lumber and Other Construction Materials Wholesalers
  • Lumber Wholesaling
  • Ready-Mix Concrete Manufacturing
  • Roofing, Siding & Insulation Wholesaling
  • Sawmills & Wood Production
  • Stone, Concrete & Clay Wholesaling

  • Products & Services
  • Vinyl siding-exterior homes
  • Wood-exterior homes
  • Brick-exterior homes
  • Fiber cement-exterior homes
  • Stucco-exterior homes
  • Other-exterior homes
  • Chart: Home Builders in Pennsylvania Industry Products and Services Segmentation

  • Major Markets
  • Private-sector property developers
  • Households
  • Government-funded projects
  • Chart: Major Market Segmentation for the Home Builders in Pennsylvania Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Home Builders in Pennsylvania

  • Basis of Competition
    Barriers to Entry
    NVR Inc., D.R. Horton, Inc, Hovnanian Enterprises Inc., PulteGroup Inc.,
  • Table: NVR Inc. - financial performance
  • Table: D.R. Horton, Inc - financial performance
  • Table: Hovnanian Enterprises Inc. - financial performance
  • Table: PulteGroup Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Home Builders in Pennsylvania Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Home Builders in Pennsylvania Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Housing Starts (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Adjustable Rate Mortgage (Arm)
  • A type of mortgage in which the interest rate that is paid on the outstanding balance is variable.
  • Developer
  • An enterprise that prepares a real estate site for residential or commercial use, raising capital, securing zoning approvals and hiring contractors to design, construct and develop property.
  • General Contractor
  • An individual or company that manages the construction of a structure for a property owner or developer. A general contractor may retain its own labor force or use subcontractors for projects.
  • Housing Starts
  • The number of new homes under construction during a specified period of time and a key economic indicator of the health of the housing market.
  • Mortgage-Backed Security (Mbs)
  • An asset-backed security or debt obligation that is secured by a mortgage or collection of mortgages.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Home Builders in Pennsylvania contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

    IBISWorld industry market research reports enable you to:
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    This report on Home Builders in Pennsylvania:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Home Builders in Pennsylvania market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Home Builders in Pennsylvania, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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