Company: LGIH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001580670-25-000058
Chunk: 144

Company: LGI Homes, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 144
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 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 wholesale revenues resulting from 416 home closings, representing 17.9% of the 2,319 total homes closed during the six months ended June 30, 2025. Included within our home sales revenues for the six months ended June 30, 2024 was $64.3 million in wholesale revenues resulting from 219 home closings, representing 8.0% of the 2,738 total homes closed during the six 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 six months ended June 30, 2025 as compared to the six months ended June 30, 2024.

•Home sales revenues in our Central reportable segment decreased by $63.0 million, or 22.7%, during the six months ended June 30, 2025 as compared to the six months ended June 30, 2024, primarily due to a 19.2% decrease in the 

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number of homes closed and a 4.4% 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 report