Archive for Tuesday, January 17, 2006

Homebuilders continue to grow with mergers

January 17, 2006

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Just like the auto companies of the last century, homebuilders are seeing a big consolidation.

"This consolidation really started in the mid-1990s but picked up speed and is still continuing," said Gopal Ahluwalia, head of research for the National Association of Home Builders.

The leader in the purchases has been Florida-based Lennar Corp., which has bought about 23 firms. Close behind Lennar is Fort Worth, Texas-based D.R. Horton Corp., with 17 mergers and acquisitions.

"In 1992, 8 percent of the market share was with the top 10 percent of builders," Ahluwalia said. "In 2004 it was more than 21 percent and it is growing."

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