house-raising vs building

house-raising and building both are nouns.

Word	Noun	Adjective	Verb	Adverb
house-raising	Yes	No	No	No
building	Yes	No	No	No

As nouns, building is a hypernym of house-raising; that is, building is a word with a broader meaning than house-raising:

Other hypernyms of house-raising include construction.

house-raising (noun)	building (noun)
construction by a group of neighbors	the act of constructing something
	the commercial activity involved in repairing old structures or constructing new ones
	a structure that has a roof and walls and stands more or less permanently in one place
	the occupants of a building