Company: LGIH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001580670-25-000043
Chunk: 81

Company: LGI Homes, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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 2.2 50 Southeast101,682 312 325,904 29.3 3.5 30 Northwest34,237 65 526,723 16.7 1.3 16 West66,956 159 421,107 25.7 2.1 25 Florida47,399 130 364,608 25.3 1.7 25 Total$351,420 996 $352,831 148.0 2.2 146 Three Months Ended March 31, 2024As of March 31, 2024RevenuesHome ClosingsASPAverage Community CountAverage MonthlyAbsorption RateCommunity Count at End of PeriodCentral$103,736 319 $325,191 41.7 2.5 43 Southeast116,445 355 328,014 26.7 4.4 27 Northwest36,067 62 581,726 12.0 1.7 14 West73,079 179 408,263 17.0 3.5 17 Florida61,524 168 366,214 19.3 2.9 19 Total$390,851 1,083 $360,897 116.7 3.1 120 

Home sales revenues for the three months ended March 31, 2025 were $351.4 million, a decrease of $39.4 million, or 10.1%, from $390.9 million for the three months ended March 31, 2024. The decrease in home sales revenues was primarily due to an 8.0% decrease in homes closed and a decrease in the average sales price per home closed during the three months ended March 31, 2025 as compared to the three months ended March 31, 2024.  The overall decrease in home closings was a result of a lower absorption rate, partially offset by a higher average community count, during the three months ended March 31, 2025 as compared to the three months ended March 31, 2024. The overall increase in average community count relates to timing associated with new community openings, offset by the close out of some communities and transition between certain active communities during the three months ended March 31, 2025 as compared to the three months ended March