Company: UHG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001830188-25-000065
Chunk: 112

Company: United Homes Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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.1 million for the three months ended June 30, 2024. The Company estimates the effective tax rate expected to be applicable for the full fiscal year and this rate is applied to the results for the year-to-date period, and then adjusted for any discrete period items. The Company's estimated annual effective tax rate for the June 30, 2025 is 33.1% as compared to 15.3% as of June 30, 2024.

Net new orders: Net new orders for a period is gross sales of homes less any customer cancellations received during the same period. Sales are recognized when a customer signs a contract and UHG approves such contract. Net new orders for the three months ended June 30, 2025 were 304 units, a decrease of 19 units, or 5.9%, from 323 units for the three months ended June 30, 2024.

Cancellation rate: The cancellation rate is the total cancellations during the period divided by the total number of new sales for homes during the period. The cancellation rate for the three months ended June 30, 2025 was 11.4%, a decrease of 1.3%, from 12.7% for the three months ended June 30, 2024.

Backlog: Backlog consists of homes sold but not yet closed with customers. Backlog represents the number of homes in backlog from the previous period plus sales of homes during the current period less cancellations of existing sales contracts and home closings during the current period. A portion of the homes in backlog will not result in homes delivered due to cancellations. 

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Backlog as of June 30, 2025 was 202 units, a decrease of 46 units, or 18.5%, from 248 units as of June 30, 2024. The following table provides a summary of the Company’s backlog inventory, backlog value, and average sales price of backlog inventory in each of the reportable segments (backlog value in thousands):

As of June 30, 2025As of June 30, 2024Period over period changeBacklog inventoryBacklog value1Backlog ASP2Backlog inventoryBacklog value1Backlog ASP2Backlog inventoryBacklog value1Backlog ASP2GSH South Carolina184 $64,471 $350,386 232 $75,932 $327,293 (20.7)%(15.1