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US NAICS 23611c | Industry Report

Housing Developers in the US Industry Data and Analysis

MO
Matty O'Malley
Analyst New York, United States September 2025

Housing developers have navigated pronounced economic swings over the past five years, as borrowing environments and Federal Reserve rate policy have dictated industry growth and contraction. Early pandemic-era interest rate cuts and remote work fueled a boom in home building, especially in suburban and affordable regions, but subsequent rate hikes sharply reversed momentum. Developers enjoyed robust sales from projects initiated during the low-rate period, even as new housing starts declined under pressure from rising mortgage costs and weakening consumer demand. The struggle has been particularly acute for small and medium-sized housing developers, which continue to close their doors or merge as cost pressures mount and competition from large developers intensifies. Persistent labor shortages and escalating input costs, driven partly by tariffs, have prevented profit growth, boosting the market share and pricing power of prominent developers able to pass costs to buyers or access strategic partners. Overall, industry revenue has been increasing at a CAGR of 5.2% over the past five years to total an estimated $324.2 billion in 2025, including an estimated decrease of 0.7% in 2025.

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What's included in this industry analysis

IBISWorld's research coverage on the Housing Developers industry in the United States includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released September 2025.

About this industry

What's this industry report about?

The Housing Developers industry in the United States operates under the NAICS industry code 23611c. The industry is primarily engaged in the development of new homes on land owned or controlled by the builder rather than the home buyer or investor. It includes operators that build single-family or multifamily homes. These operators are often referred to as merchant or speculative builders, but they're also known as production-for-sale builders. Related terms covered in the Housing Developers industry in the United States include housing starts, general contractor (gc), residential building and tax credit.

What's included in this industry?

Products and services covered in Housing Developers industry in the United States include Single-family detached homes, Single-family attached homes and Multifamily homes.

What companies are included in this industry?

Companies covered in the Housing Developers industry in the United States include D.R. Horton, Inc., Lennar Corp and Pultegroup Inc.

Performance

What's included in the Performance chapter?

The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Housing Developers industry in the United States.

Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.

Products & Markets

What's included in the Products and Markets chapter?

The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Housing Developers industry in the United States.

Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.

Geographic Breakdown

What's included in the Geographic Breakdown chapter?

The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Housing Developers industry in the United States.

Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.

Competitive Forces

What's included in the Competitive Forces chapter?

The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Housing Developers industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.

Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.

Companies

What's included in the Companies chapter?

The Companies chapter covers Key Takeaways, Market Share and Companies in the Housing Developers industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.

Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.

External Environment

What's included in the External Environment chapter?

The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Housing Developers industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.

Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.

Financial Benchmarks

What's included in the Financial Benchmarks chapter?

The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Housing Developers industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.

Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.

Industry Data

What's included in the Industry Data chapter?

The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Housing Developers industry in the United States.

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Frequently Asked Questions

What is the market size of the Housing Developers industry in the United States in 2026?

The market size of the Housing Developers industry in the United States is $324.2bn in 2026.

How many businesses are there in the Housing Developers industry in the United States in 2025?

There are 58,746 businesses in the Housing Developers industry in the United States, which has declined at a CAGR of 1.5 % between 2020 and 2025.

How may import tariffs affect the Housing Developers industry in the United States?

The Housing Developers industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.

How may export tariffs affect the Housing Developers industry in the United States?

The Housing Developers industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.

Has the Housing Developers industry in the United States grown or declined over the past 5 years?

The market size of the Housing Developers industry in the United States has been growing at a CAGR of 5.2 % between 2020 and 2025.

What is the forecast growth of the Housing Developers industry in the United States over the next 5 years?

Over the next five years, the Housing Developers industry in the United States is expected to grow.

What are the biggest companies in the Housing Developers industry in the United States?

The biggest companies operating in the Housing Developers industry in the United States are D.R. Horton, Inc., Lennar Corp and Pultegroup Inc.

What does the Housing Developers industry in the United States include?

Development of detached single-family homes on own land for sale and Development of attached single-family homes on own land for sale are part of the Housing Developers industry in the United States.

Which companies have the highest market share in the Housing Developers industry in the United States?

The company holding the most market share in the Housing Developers industry in the United States is D.R. Horton, Inc..

How competitive is the Housing Developers industry in the United States?

The level of competition is high and steady in the Housing Developers industry in the United States.

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