The building sector is responsible for a third of the global energy consumption and a quarter of greenhouse gas emissions. Phase change materials (PCMs) have shown high potential for latent thermal energy storage (LTES) through their integration in building materials, with the aim of enhancing the efficient use of energy. Although research on PCMs began decades ago, this technology is still far from being widespread. This work analyses the main contributions to the employment of PCMs in the building sector, to better understand the motivations behind the restricted employment of PCM-based LTES technologies. The main research and review studies are critically discussed, focusing on: strategies used to regulate indoor thermal conditions, the variation of mechanical properties in PCMs-based mortars and cements, and applications with ground-coupled heat pumps. The employment of materials obtained from wastes and natural sources was also taken in account as a possible key to developing composite materials with good performance and sustainability at the same time. As a result, the integration of PCMs in LTES is still in its early stages, but reveals high potential for employment in the building sector, thanks to the continuous design improvement and optimization driven by high-performance materials and a new way of coupling with tailored envelopes.