Home Builders in Illinois
Over the five years to 2017, the Home Builders industry in Illinois is estimated to grow. Despite double-digit revenue growth, the housing market in Illinois remains buffeted by structural issues a decade after the Great Recession. However, while revenue is expected to remain well below its prerecessionary levels, growth over the current period has been encouraging. Higher disposable incomes and an improved, if not healthy, economic environment have encouraged more consumers to buy homes. In addition, accommodative interest rates and improved access to credit influenced consumers and property developers to break ground on new projects. Over the five years to 2022, industry growth is expected to continue, with the largest gains occurring in 2018. Even as the Federal Reserve is expected to continue to tighten monetary policy over this period, the near future is anticipated to be relatively strong for the industry as still favorable rates, rising consumer confidence and higher corporate profit result in strong investment from consumers and property developers.
Industry operators primarily construct single-family homes, where units are separated by ground-to-roof walls and have no units above or below. The industry also includes remodeling of houses and other residential buildings. Industry operators are general contractors, design-build companies and single-family construction management companies acting as general contractors and builders.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.