Company: LGIH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001580670-25-000058
Chunk: 44

Company: LGI Homes, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 the three 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 three months ended June 30, 2025 as compared to the three months ended June 30, 2024. The average sales price per home closed during the three months ended June 30, 2025 was $365,446, an increase of $1,400, or 0.4%, from the average sales price per home closed of $364,047 for the three months ended June 30, 2024. The increase in the average sales price per home closed was primarily due to geographic mix. 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 three months ended June 30, 2025 was $71.4 million in wholesale revenues resulting from 237 home closings, representing 17.9% of the 1,323 total homes closed during the three months ended June 30, 2025.  Included within our home sales revenues for the three months ended June 30, 2024 was $35.7 million in wholesale revenues resulting from 117 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