In the News - Triangle Business Journal
Posted on: Jun 30, 2010
Some of the largest residential builders doing business in the Triangle have made Builder magazine’s list of the nation’s 100 largest builders of homes.
Giants like Pulte Homes (NYSE: PHM), which did $217 million in revenue in the Triangle in 2008 (the latest year for which data are available), or KB Home (NYSE: KBH), which listed contracts worth $199 million, make the top five of the Builder magazine list. Pulte, the No. 1 Raleigh-Durham residential builder in Triangle Business Journal’s 2010 Book of Lists, was second in the number of closings nationally, behind only D.R. Horton (NYSE: DHI).
In fact, the 10 largest builders with business in the Triangle are all listed. None of those, however, are based in North Carolina.
(Click here to see the full Builder magazine top 100).
Six North Carolina-based home builders made the list, but none based in the Triangle.
While the highest-ranked is Eastwood Homes in Charlotte at No. 48, two other North Carolina builders experienced the greatest percentage change in revenue in the country: H&H Homes of Fayetteville and Wade Jurney Homes in Greensboro increased their revenue in 2009 by 51 percent and 28 percent, respectively – the top two of only 16 home builders on the list to enjoy an increase.
Caviness and Cates Communities of Fayetteville, which placed 68th on the list in size, saw its revenue increase 9 percent last year. see the release
Eastwood declined in revenue by only 9 percent last year. Also listed was Monroe-based True Homes at 55th, which saw $80 million in revenue in 2009 but lists no figure before then.
North Carolina builders in the top 100:
• Eastwood Homes - Charlotte (48)
• True Homes - Monroe (55)
• H & H Homes - Fayetteville (56)
• Caviness and Cates Communities - Fayetteville (68)
• Bill Clark Homes - Greenville (83)
• Wade Jurney Homes - Greensboro (100)
Reporter e-mail: baustin@bizjournals.com.
