Company: LGIH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001580670-25-000058
Chunk: 49

Company: LGI Homes, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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losingsASPAverage 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 by a higher average community count, during the six months ended June 30, 2025 as compared to the six months ended June 30, 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 six months ended June 30, 2025 as compared to the six months ended June 30, 2024. The average sales price per home closed during the six months ended June 30, 2025 was $360,028, a decrease of $2,773, or 0.8%, from the average sales price per home closed of $362,801 for the six months ended June 30, 2024. The decrease in the average sales price per home closed was primarily due to geographic mix and an increase in the number of wholesale homes closed. The overall decrease in absorption rate generally relates to the impact of ongoing affordability constraints, new community openings, and the overall increase in community count.  

Included within our home sales revenues for the six months ended June 30, 2025 was $125.9 million in