D.R. Horton was the homebuilder with the highest gross revenue in the United States in 2024. The Texas-based company reached a homebuilding revenue of 33.83 billion U.S. dollars. It was closely followed by D.R. Horton, which had its headquarters in Florida and generated a revenue of 33.78 billion U.S. dollars. Challenges to the residential construction marketThe number of private housing units started fell around the time of the global financial crisis (2007-2009), but has since recovered – though not to the heights of 2006. The value of residential construction in the U.S. fell in 2023, but it is expected to start growing again in the next years.New home sales follow the same trend After a fall in the number of new houses sold in 2021 and 2022, home sales have increased again, with those figures in the U.S. expected to reach 683,000 in 2024. The number of single-family homes started has followed a similar trend, and it is expected to increase in the next couple of years.

In June 2025, approximately ******* home construction projects started in the United States. The lowest point for housing starts over the past decade was in 2009, just after the 2007-2008 global financial crisis. Since 2010, the number of housing units started has been mostly increasing despite seasonal fluctuations. Statista also has a dedicated topic page on the U.S. housing market as a starting point for additional investigation on this topic. The impact of the global recession The same trend can be seen in home sales over the past two decades. The volume of U.S. home sales began to drop in 2005 and continued until 2010, after which home sales began to increase again. This dip in sales between 2005 and 2010 suggests that supply was outstripping demand, which led to decreased activity in the residential construction sector. Impact of recession on home buyers The financial crisis led to increased unemployment and pay cuts in most sectors, which meant that potential home buyers had less money to spend. The median income of home buyers in the U.S. fluctuated alongside the home sales and starts over the past decade.

The Building America Partnership for Improved Residential Construction (BA-PIRC), one of the Building America research team leads, has partnered with two builders as they work through the Challenge Home certification process in one test home each. The builder partners participating in this cost-shared research are Southeast Volusia County Habitat for Humanity near Daytona, Florida and Manatee County Habitat for Humanity near Tampa, Florida. Both are affiliates of Habitat for Humanity International, a non-profit affordable housing organization. This research serves to identify viable technical pathways to meeting the CH criteria for other builders in the region. A further objective of this research is to identify gaps and barriers in the marketplace related to product availability, labor force capability, code issues, cost effectiveness, and business case issues that hinder or prevent broader adoption on a production scale. The builder partners participating in this cost-shared research are Southeast Volusia County Habitat for Humanity (SEVHFH) near Daytona, Florida and Manatee County Habitat for Humanity (MCHFH) near Tampa, Florida. Both are affiliates of Habitat for Humanity International (HFHI), a nonprofit affordable housing organization. Manatee Co Habitat for Humanity Challenge home - Ellenton, FL 34222 S. Sarasota Challenge Home - Sarasota, FL Southeast Volusia co Habitat for Humanity's Challenge Home - Edgewater, FL 32141 Several iterations of home, Challenge Home as built, Challenge Home without solar, and Challenge Home configured to just meet Florida Code. All houses redone in BEOpt 2.1.0.2

In 2021, close to ten percent of the ***** million homes in the United States were from the first decade of the 21st century. Between 2000 and 2009, approximately **** million homes were constructed.

In the first quarter of 2025, San Francisco, Chicago, New York, and Honolulu were some of the U.S. cities with the highest housing construction costs. Meanwhile, Phoenix had one of the lowest construction costs for high-end multifamily homes at *** U.S. dollars per square foot and Las Vegas for single-family homes between *** and *** U.S. dollars per square foot. Construction cost disparities As seen here, the construction cost for a high-end multi-family home in San Francisco in the first quarter of 2024 was over ***** more expensive than in Phoenix. Meanwhile, there were also great differences in the cost of building a single-family house in New York and in Portland or Seattle. Some factors that may cause these disparities are the construction materials, installation, and composite costs, differing land values, wages, etc. For example, although the price of construction materials in the U.S. was rising at a slower level than in 2022 and 2023, several materials that are essential in most construction projects had growth rates of over **** percent in 2024. Growing industry revenue Despite the economic uncertainty and other challenges, the size of the private construction market in the U.S. rose during the past years. It is important to consider that supply and demand for housing influences the revenue of this segment of the construction market. On the supply side, single-family home construction fell in 2023, but it is expected to rise in 2024 and 2025. On the demand side, some of the U.S. metropolitan areas with the highest sale prices of single-family homes were located in California, with San Jose-Sunnyvale-Santa Clara at the top of the ranking.

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting *** U.S. dollars per square foot in 2022. In 2024, the average sales price of a new home exceeded ******* U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly ** percent year-on-year, and in 2022, the increase was even higher, at close to ** percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under ***** percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

The average length of time from start to completion of new privately owned residential buildings with one unit in the United States increased by over *** month in 2022. Meanwhile, it took an average of 17 months from start to completion to build new privately owned residential buildings with multiple units that year. In 2021, one-unit buildings took around *** months on average to build. It has been estimated that the United States new residential construction will continue growing over the coming years.

In 2023, Builders FirstSource generated most of its revenue through the sale of manufactured products, amounting to 4.7 billion U.S. dollars. Overall, the revenue of the Texas-based company reached 17.097 billion U.S. dollars that year, which was significantly lower than the previous year. In 2022, Builders FirstSource was one of the largest construction material companies in the United States.

Ambulatory healthcare was the type of building with the highest construction costs in Ontario (Canada) in 2024. The cost of that type of building ranged from *** to *** Canadian dollars per square feet. Townhouses, along with warehouses, among the cheapest buildings to construct, even though the townhouse sale price in Canada was much higher in 2024 than in a decade earlier. On the other side of the residential spectrum, the construction cost of high-rise buildings with mid-end specifications could reach up to *** Canadian dollars per square feet. The housing sector in Ontario The fast population growth in Toronto, the main city in Ontario, has put pressure on its housing market. From 2001 to 2023, the number of people living in Canada’s largest city increased from **** to *** million people. During the past years, house prices in Ontario rose at a similarly fast pace. Combined, these elements signal a strong demand for homes in Toronto and Ontario as a whole. The construction sector has responded to this trend: In 2023, most housing starts in Canada took place in the province of Ontario. That same year, EllisDon Corporation, with headquarters in Mississauga (Ontario), was the second-largest contractor in Canada. One of its largest residential/mixed-use projects under development is the 489-539 King St. West Development, in Toronto. Construction cost in North America Building construction costs in Quebec, the second most populous province in Canada after Ontario, had a similar cost range: Ambulatory healthcare buildings were the most expensive, and warehouses were the cheapest to build. However, enclosed malls and higher education buildings were significantly more expensive in Quebec than in Ontario. Across the border, the cities with the highest residential construction costs in the U.S. were San Francisco for multi-family housing, and New York City for single-family housing. Meanwhile, Los Angeles, San Francisco, and New York had the highest hotel construction costs in the U.S.