Dream Finders Homes has submitted a bid to acquire fellow homebuilder Beazer Homes USA for approximately $704 million, according to reports.

The bid was submitted last week, marking a potential consolidation move within the residential construction industry. Dream Finders Homes, which operates in multiple states across the Southeast and other regions, would expand its footprint through the acquisition.

Beazer Homes USA is an established homebuilder that has operated for decades, constructing single-family homes in communities across multiple states. The company has faced various market challenges in recent years as the housing industry has navigated changing economic conditions.

The proposed acquisition comes as the homebuilding sector continues to adapt to fluctuating demand, interest rate changes, and supply chain considerations that have affected construction timelines and costs. Industry consolidation has been a recurring theme as companies seek to achieve greater scale and operational efficiencies.

Neither company has publicly commented on the bid or potential transaction terms beyond the reported offer amount. The acquisition would need to be approved by Beazer Homes' board of directors and shareholders if negotiations proceed.