Company: LGIH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001580670-25-000058
Chunk: 143

Company: LGI Homes, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 143
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 2025 Compared to Six Months Ended June 30, 2024 

Homes Sales. Our home sales revenues, home closings, average sales price per home closed (ASP), average community count and average monthly absorption rate by reportable segment for the six months ended June 30, 2025 and 2024 were as follows (revenues in thousands):Six Months Ended June 30, 2025RevenuesHome ClosingsASPAverage Community CountAverageMonthlyAbsorption RateCentral$214,132 690 $310,336 49.2 2.3 Southeast251,792 768 327,854 31.5 4.1 Northwest87,724 165 531,661 16.3 1.7 West167,295 389 430,064 25.2 2.6 Florida113,962 307 371,212 24.8 2.1 Total$834,905 2,319 $360,028 147.0 2.6 Six Months Ended June 30, 2024RevenuesHome ClosingsASPAverage Community CountAverage MonthlyAbsorption RateCentral$277,170 854 $324,555 42.8 3.3 Southeast251,863 765 329,233 25.7 5.0 Northwest104,192 194 537,072 13.2 2.4 West201,234 487 413,211 19.5 4.2 Florida158,889 438 362,760 21.3 3.4 Total$993,348 2,738 $362,801 122.5 3.7 

Home sales revenues for the six months ended June 30, 2025 were $834.9 million, a decrease of $158.4 million, or 16.0%, from $993.3 million for the six months ended June 30, 2024. The decrease in home sales revenues was primarily due to a 15.3% decrease in homes closed and a 0.8% decrease in the average sales price per home closed during the six months ended June 30, 2025 as compared to the six months ended June 30, 2024.  The overall decrease in home closings was a result of a lower absorption rate, partially offset