Company: LGIH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001580670-25-000043
Chunk: 142

Company: LGI Homes, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part II, Item 7
Chunk 142
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Included within our home sales revenues for the three months ended March 31, 2025 was $54.5 million in wholesale revenues resulting from 179 home closings, representing 18.0% of the 996 total homes closed during the three months ended March 31, 2025. Included within our home sales revenues for the three months ended March 31, 2024 was $28.6 million in wholesale revenues resulting from 102 home closings, representing 9.4% of the 1,083 total homes closed during the three months ended March 31, 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 March 31, 2025 as compared to the three months ended March 31, 2024.

•Home sales revenues in our Central reportable segment decreased by $2.6 million, or 2.5%, during the three months ended March 31, 2025 as compared to the three months ended March 31, 2024, primarily due to a 5.7% decrease in the average sales price per home closed, partially offset by a 3.4% increase in home closings. 

•Home sales revenues in our Southeast reportable segment decreased by $14.8 million, or 12.7%, during the three months ended March 31, 2025 as compared to the three months ended March 31, 2024, primarily due to a 12.1% decrease in the number of homes closed and a 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 Northwest reportable segment decreased by $1.8 million, or 5.1%, during the three months ended March 31, 2025 as compared to the three months ended March 31, 2024, primarily due to a 9.5% decrease in the average sales price per home closed, partially offset by a 4.8% increase in the number of homes closed. 

•Home sales revenues in our West reportable segment decreased by $6.1 million, or 8.4%, during the three months ended March 31, 2025 as compared to the three months ended March 31, 2024, primarily due