In 2024 D.R. Horton turned out more than 70,000 new homes, a volume that still outpaces every rival. That achievement keeps the company at the top of the U.S. home‑building leaderboard for the third straight year. If you’re wondering why this matters for your next purchase or investment, the answer lies in market share, financial strength, and the ability to deliver quality at scale.
Key Takeaways
- D.R. Horton remains the #1 home builder in the United States by homes delivered in 2024‑2025.
- Market share is driven by volume (70k+ homes), revenue (~$27 B), and a broad geographic footprint.
- Lennar and PulteGroup round out the top three, each with distinct strategies.
- Homebuyers should weigh builder reputation, warranty coverage, and community amenities when choosing a home.
- Industry trends-affordable‑housing demand, modular construction, and tightening labor markets-will shape the 2026 rankings.
How We Define the #1 Builder
It’s tempting to equate “#1” with brand fame, but industry analysts rely on concrete metrics:
- Homes Delivered: Number of completed single‑family units in a calendar year.
- Revenue: Total sales from home construction, excluding land‑sale profits.
- Market Share: Share of total U.S. new‑home starts, calculated by the U.S. Census Bureau.
- Geographic Reach: Presence in high‑growth metros (e.g., Dallas‑Fort Worth, Phoenix, Orlando).
- Financial Health: Debt‑to‑equity ratio and cash flow, indicating ability to weather interest‑rate cycles.
For this article we use the latest publicly available data from the U.S. Census Bureau’s Building Permits Survey and the National Association of Home Builders (NAHB) 2024‑2025 Builders’ Outlook.
Latest Data: 2024‑2025 Homebuilding Landscape
According to the 2024 Building Permits Report, the United States saw 1.04 million new‑home starts, a 3.2% increase from the previous year. The NAHB’s 2025 Builders’ Outlook notes that home‑buyer demand has shifted toward affordable‑price points under $300,000, a segment where large builders have a competitive edge.
Below are the headline figures for the top five builders:
| Builder | Homes Delivered | Revenue (US$ B) | Market Share (%) |
|---|---|---|---|
| D.R. Horton | 71,299 | 27.0 | 6.9 |
| Lennar Corp. | 59,748 | 25.4 | 5.8 |
| PulteGroup | 45,212 | 20.1 | 4.3 |
| NVR Inc. | 28,567 | 12.2 | 2.8 |
| KB Home | 22,914 | 9.6 | 2.2 |
These numbers make it clear why D.R. Horton retains the #1 slot: it leads in volume, revenue, and overall market share.
Why D.R. Horton Stays on Top
D.R. Horton is a publicly traded home‑building company founded in 1978, headquartered in Arlington, Texas. Its business model focuses on high‑volume, low‑cost construction across 25 states, leveraging economies of scale to keep prices competitive. The firm’s success stems from three core pillars:
- Scale‑Driven Cost Efficiency: By purchasing materials in bulk and standardizing floor plans, D.R. Horton reduces per‑unit costs, allowing it to target first‑time buyers.
- Geographic Diversification: Operations span Sunbelt growth markets (e.g., Texas, Florida, Arizona) and emerging Midwest hubs, buffering regional slowdowns.
- Strong Capital Position: A debt‑to‑equity ratio of 0.48 and cash reserves exceeding $2 B give the company flexibility to acquire land and fund large‑scale projects.
Another advantage is the “Hearthstone” program-an in‑house warranty and service platform that boosts buyer confidence and reduces post‑sale repair costs.
How the Other Top Builders Compare
Lennar, the second‑largest builder, leans heavily on “Everything‑in‑One” packages that bundle appliances, smart‑home tech, and community amenities. This strategy appeals to move‑up buyers who prioritize turnkey solutions. However, its higher average price point (~$320,000) limits market share in the affordable segment.
PulteGroup distinguishes itself with “Design‑Your‑Home” customization tools and a strong focus on sustainability-more than 30% of its 2024 builds earned ENERGY STAR certification. The green niche attracts environmentally conscious buyers but adds complexity to the production line, affecting volume.
Builders like NVR and KB Home occupy niche positions: NVR concentrates on upscale suburban communities, while KB Home emphasizes entry‑level homes in high‑growth metros. Both maintain healthy margins but lack the scale to challenge the top three.
What Homebuyers Should Look For
Choosing a builder isn’t just about who’s #1; it’s about aligning the builder’s strengths with your priorities. Here’s a quick checklist:
- Warranty Coverage: Look for at least a 10‑year structural warranty and a 2‑year workmanship guarantee.
- Quality Certifications: ENERGY STAR, NAHB’s Gold Certification, or local green‑building programs signal construction quality.
- Community Amenities: Schools, parks, and retail proximity influence resale value.
- Price Transparency: Detailed cost breakdowns prevent surprise upgrades.
- Builder Reputation: Check recent customer reviews, complaint ratios with the Better Business Bureau, and lawsuit history.
For first‑time buyers, the scale and affordability of D.R. Horton often make it the safest bet. Move‑up families may gravitate toward Lennar’s bundled features, while eco‑focused buyers might prefer PulteGroup’s green homes.
Looking Ahead: 2026 Forecast
The 2026 outlook hinges on three macro trends:
- Labor Shortages: A tightening skilled‑trade workforce could push builders to adopt modular and off‑site construction, a space where PulteGroup is already investing heavily.
- Interest‑Rate Volatility: The Federal Reserve’s policy will affect mortgage affordability; builders with strong cash flow (like D.R. Horton) can sustain price promotions.
- Affordable‑Housing Policy: Proposed federal incentives for low‑income housing may benefit large volume builders that can quickly develop such projects.
If D.R. Horton maintains its aggressive land‑acquisition strategy and continues to streamline construction, it is poised to keep the #1 crown into 2026. Competitors will need to innovate-through modular tech or niche market focus-to chip away at its lead.
Quick FAQ
Frequently Asked Questions
Which company built the most homes in the US in 2024?
D.R. Horton delivered 71,299 new single‑family homes in 2024, the highest volume among all U.S. builders.
How does D.R. Horton keep prices lower than competitors?
The company uses bulk material purchasing, standardized floor plans, and a highly automated supply chain to reduce per‑unit costs, allowing it to offer homes under $300,000 in many markets.
Are there any downsides to buying a D.R. Horton home?
Because the company focuses on volume, some buyers complain about limited design customization and occasional neighborhood homogeneity.
What warranty does D.R. Horton provide?
A 10‑year structural warranty and a 2‑year workmanship warranty, managed through the Hearthstone service program.
Will the #1 builder change in the next year?
It’s possible but unlikely. D.R. Horton’s scale, cash reserves, and aggressive land‑acquisition strategy give it a strong moat, though a rapid shift in interest rates or a major regulatory change could open the field for competitors.
