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Japanese firms’ buying spree of U.S. homebuilders keeps heating up—now Daiwa House buys Washington state-based JK Monarch

And there’s another one…

Today, Trumark Homes—which has been majority owned by Japan-based Daiwa House since 2020—announced that it has struck a deal to acquire a Seattle metro-based homebuilder JK Monarch.

The deal is the latest in a recent string of U.S. homebuilder acquisitions by Japanese firms. Exactly five weeks ago today (February 13), Japan-based Sumitomo Forestry announced that it had agreed to acquire Tri Pointe Homes—a giant public homebuilder ranked No. 715 on the Fortune 1000—for $4.5 billion. Then on February 23, Stanley Martin Homes—which has been owned by Japan-based Daiwa House since 2017—announced that it has agreed to buy United Homes Group, which has a strong presence in the Carolinas, for $221 million. On March 10, Japan-based Iida Group Holdings announced that its subsidiary, Hajime Construction, will acquire a majority equity interest in Utah-based homebuilder Wright Homes.

For Daiwa House, the acquisition of Seattle metro-based homebuilder JK Monarch—which builds only in Washington—will expand its presence into the Pacific Northwest, further extending its footprint across the U.S. housing market.

It isn’t just Daiwa House. The U.S. builder acquisitions by Japanese firms are really starting to stack up—see ResiClub’s Japanese builder acquisition tracker below 👇

Here’s a more detailed breakdown:

Daiwa House 🏡 🇯🇵 —> Japan-based Daiwa House has quietly built one of the most geographically diversified U.S. homebuilding footprints among Japanese builders. It entered the U.S. market in 2017 with its acquisition of Stanley Martin Homes, followed by the purchase of Trumark Homes (No. 67 largest U.S. homebuilder) in 2020. In September 2021, Daiwa House completed its acquisition of CastleRock Communities (No. 49 largest U.S. homebuilder), giving it a strong presence in Sun Belt markets in Arizona, Texas, and Tennessee. In February 2026, Stanley Martin announced a $221 million acquisition of United Homes Group, followed in March 2026 by Trumark announcing its acquisition of JK Monarch.

Sumitomo Forestry 🏡 🇯🇵 —> For Sumitomo Forestry—a Japan-based forestry, timber, and homebuilding company—its Tri Pointe Homes acquisition last month meaningfully accelerates its U.S. expansion goals, including its stated target of delivering 23,000 homes annually in the U.S. by 2030. In 2016, Sumitomo Forestry became the majority owner of DRB Group (America’s No. 20 largest homebuilder). In April 2025, Brightland Homes (America’s No. 24 largest homebuilder—which Sumitomo Forestry acquired a majority stake of in 2016) consolidated into DRB Group.

Sekisui House 🏡 🇯🇵 —> Japan-based homebuilder Sekisui House, operating in the U.S. under SH Residential Holdings (America’s No. 6 largest homebuilder), has also been on a multiyear U.S. homebuilder buying spree. Since 2017, Sekisui House has acquired homebuilders Woodside Homes, Chesmar Homes, Holt Homes, and Hubble Homes. In April 2024, Sekisui House really shook up the industry when it acquired M.D.C. Holdings (Richmond American Homes) for a staggering $4.9 billion. Sekisui House has also expanded into the U.S. with its homegrown Japanese builder brand, Shawood.

Hajime Construction 🏡 🇯🇵 —> Japan-based homebuilder Hajime Construction, owned by Japan-based Iida Group Holdings, in March 2026 announced a majority equity interest in Utah-based homebuilder Wright Homes Group.

According to ResiClub’s analysis, once the Tri Pointe Homes and United Homes Group acquisitions are completed, Daiwa House, Sekisui House, and Sumitomo Forestry will have a combined market share of at least 5.5% of U.S. single-family home construction.

So why are Japanese firms making such a large bet on U.S. housing?

At a high level, the answer is demographic and structural. Japan’s domestic population is shrinking and aging (fast!), limiting long-term housing growth and risking a sharp contraction for Japanese homebuilding firms like Daiwa House, Sekisui House, and Sumitomo Forestry. The United States, by contrast, continues to experience population growth and household formation—particularly in the Sun Belt markets where many big U.S. homebuilders operate. For Japanese firms seeking stable, long-duration growth, U.S. homebuilding offers scale and better demographic tailwinds. There’s also a strategic element. The U.S. homebuilding industry remains fragmented beyond the top few public builders, creating opportunities for well-capitalized global players to roll up regional operators while preserving local brands and management teams. Both Sumitomo Forestry and Sekisui House say they prioritize locally led operations, supported by centralized capital and global expertise—a structure designed to preserve builder culture while providing financial and operational backing.

Another factor is that many Japanese conglomerates have access to lower borrowing costs, which, in theory, gives them an advantage when buying companies abroad. Japan has had extremely low interest rates for decades due to persistent low inflation and slow growth. For much of the past decade, the Bank of Japan kept short-term policy rates at or below 0%.

U.S. new home sales, by month

47 of the nation's 50 largest metro area housing markets have a weaker year-over-year home price shift this early spring than a year ago

The biggest exception is metro area New Orleans—which is firming up after passing through a “material” correction.

That said, the pace of home price softening has lost momentum over the past 8 months—and has, on a nationally aggregated basis, stabilized into a low-appreciation market.

The pace of softening has lost momentum over the past 8 months—and has, on a nationally aggregated basis, stabilized. According to our analysis of the Zillow Home Value Index, U.S. home prices are up +0.4% year-over-year between February 2025 and February 2026. While that pace has decelerated over the past year—back in February 2025, the national year-over-year home price growth rate was +2.1% —it has ticked up slightly from the recent low of -0.01% in August 2025.