Company: LGIH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001580670-25-000058
Chunk: 176

Company: LGI Homes, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part II, Item 7
Chunk 176
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 home closings, representing 7.1% of the 1,655 total homes closed during the three months ended June 30, 2024. The increase in home closings as a percentage of revenues through our wholesale channel was primarily related to higher demand from our wholesale channel customers during the three months ended June 30, 2025 as compared to the three months ended June 30, 2024.

•Home sales revenues in our Central reportable segment decreased by $60.4 million, or 34.9%, during the three months ended June 30, 2025 as compared to the three months ended June 30, 2024, due to a 32.7% decrease in the number of homes closed and a 3.2% decrease in the average sales price per home closed.  The decrease in home closings was the result of a lower absorption rate, partially offset by an increase in the average community count. 

•Home sales revenues in our Southeast reportable segment increased by $14.7 million, or 10.8%, during the three months ended June 30, 2025 as compared to the three months ended June 30, 2024, primarily due to an 11.2% increase in the number of homes closed, partially offset by a 0.3% decrease in the average sales price per home closed. The increase in home closings was the result of an increase in the average community count, partially offset by a lower absorption rate.

•Home sales revenues in our Northwest reportable segment decreased by $14.6 million, or 21.5%, during the three months ended June 30, 2025 as compared to the three months ended June 30, 2024, primarily due to a 24.2% decrease in the number of homes closed, partially offset by a 3.6% increase in the average sales price per home closed. The decrease in home closings was the result of a lower absorption rate, partially offset by an increase in the average community count.

•Home sales revenues in our West reportable segment decreased by $27.8 million, or 21.7%, during the three months ended June 30, 2025 as compared to the three months ended June 30, 2024, primarily due to a 25.3% decrease in the number of homes closed, partially offset by a 4.8% increase in the average sales price per home closed. The decrease in