Big Homebuilders Getting Bigger
There is a large national trend "that has seen the behemoths of the building business all but take over some local markets. In some cases, the conglomerates also are taking over local firms. Over the last five years, the country's 10 largest firms have almost doubled their market shares, a survey by the National Association of Home Builders (NAHB) found. Expanding largely through mergers and acquisitions, the top 10 racked up 20 percent of all new-home closings last year....Although small firms still dominate the market, the largest 60 builders were responsible for nearly 312,300 closings in 2002....In total, the largest 60 builders have almost one-third of the entire new home market. The largest 100 own 35.4 percent of the business, according to the survey."
Thanks to Connie Chung