U.S. Homebuilding: M&A Accelerates Amid Challenging Macro Backdrop: BI Replay

M&A activity in the US homebuilding industry remains extremely active. Deals are being consummated to fuel growth ambitions by entering new markets or expanding within existing ones. For others, a challenging macroeconomic backdrop and capital constraints are the impetus. Acquirers range from public to private homebuilders, private equity players and Japanese buyers who are playing an increasingly prominent role. Despite a softer market backdrop, deal multiples remain robust. Large-scale public-to-public deals are less likely, in our view, though public-to-private and private-to-private transactions are likely to fuel deal activity.