Lennar Takes the Top Seat in Southern California New Home Sales in 2007
California, February 4, 2008 – Two large public builders fought hard battles to secure the title of “Number One Builder” in Southern California in 2007. It was a back and forth battle, with the number two ranked builder leading the way posting nearly 20 percent more sales in the first half of the year. However, when the dust settled, Lennar captured the title with 2,555 new home sales in 2007 for a 7.89 percent market share. KB Home came in second posting 2,339 sales for a 7.22 percent market share. “The change in ranking really came down to a more aggressive battle for market share by Lennar”, said Russ Valone, CEO of MarketPointe Realty Advisors. During the first half of the year both companies had an average of 80 new home subdivisions in Southern California. However, as the year wore on and KB Home was successful at selling out a number of its new home communities, and since they didn’t open any new ones, the number of new home developments featured by KB Homes dropped from 81 in the first quarter to just 66 in the fourth. Lennar on the other hand started the year with 76 actively selling new home communities and by the third quarter of 2007 had 87 actively selling new home communities.
Another reason Lennar may have edged out KB Homes in 2007 was the greater diversity of product offered by Lennar. While both companies generated most of their new home sales by selling new detached homes, (Lennar 1,863 and KB Home 2,090), Lennar featured almost double the number of new single family attached communities, which enabled Lennar to post 690 new attached home sales in 2007 compared to only 249 by KB Home.
Four other companies posted more than 1,000 new home sales in 2007 with an equally spirited battle fought for the third and fourth, and the fifth and sixth spots on the list, but in the end, third place Centex Homes squeaked by fourth place by Standard Pacific Homes. D. R. Horton who secured second place in 2006 slipped to fifth place in 2007 just a ahead of number six K. Hovnanian.
Top Twenty-Five Builders for the entire Southern California, as well as a break out by region can be found in the Annual Southern California Housing Market Report, published by MarketPointe Realty Advisors. All housing statistics were extracted from ResidentialTrends, a MarketPointe product.
MarketPointe Realty Advisors provides housing statistics and available land information and real estate consulting services. Representation is throughout California. For a Complete 2007 Annual Southern California Housing Market Report contact the nearest office, San Diego at 619-233-3781, Orange County at 714-528-2554, Sacramento at 916-710-1398, website is www.marketpointe.com
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- MarketPointe Realty Advisors
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