Scottish housebuilding is "more resilient than ever" according to a report from business advisers Grant Thornton.
It said the sector emerged stronger than it had been following the financial crash in 2008 and 2009.
But Grant Thornton warned that Brexit could lead to a slump in the housing market.
They also said the Scottish government target of creating 50,000 affordable homes by 2021 may be a "struggle".
Chris Smith of Grant Thornton said: "Scotland's housebuilding sector endured some of its biggest challenges during the downturn of 2009, but it appears to have now emerged from the crash, stronger and more resilient than ever.
"The recent £655m acquisition of Miller Homes is just one example of the recent flurry of activity. But, businesses don't like uncertainty and Brexit undoubtedly raises some fears that a nervous consumer market could lead to a dip in sales and ultimately a slump in the housebuilding market.
"But, for the time being, the sector seems to be in rude health and focused on resilient, sustainable long term growth."