Company: LGIH
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001580670-25-000076
Chunk: 143

Company: LGI Homes, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 143
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able segment for the nine months ended September 30, 2025 and 2024 were as follows (revenues in thousands):Nine Months Ended September 30, 2025RevenuesHome ClosingsASPAverage Community CountAverage Monthly Absorption RateCentral$313,487 997 $314,430 47.8 2.3Southeast353,211 1,067 331,032 31.8 3.7Northwest137,132 274 500,482 15.8 1.9West258,994 592 437,490 25.3 2.6Florida168,713 454 371,615 24.6 2.1Total$1,231,537 3,384 $363,929 145.3 2.6Nine Months Ended September 30, 2024RevenuesHome ClosingsASPAverage Community CountAverage Monthly Absorption RateCentral$441,609 1,363 $323,998 43.8 3.5Southeast407,068 1,231 330,681 26.2 5.2Northwest187,253 344 544,340 13.6 2.8West351,880 848 414,953 20.7 4.6Florida257,392 709 363,035 21.8 3.6Total$1,645,202 4,495 $366,007 126.1 4.0

Home sales revenues for the nine months ended September 30, 2025 were $1.2 billion, a decrease of $413.7 million, or 25.1%, from $1.6 billion for the nine months ended September 30, 2024. The decrease in home sales revenues was primarily due to a 24.7% decrease in the number of homes closed and a decrease in the average sales price per home closed during the nine months ended September 30, 2025 as compared to the nine months ended September 30, 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 nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024. The overall increase in average community count relates to timing associated with new community openings, offset by