Company: LGIH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001580670-25-000016
Chunk: 354

Company: LGI Homes, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1A
Chunk 354
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AAP Measures” for reconciliations of EBITDA to net income, which is the GAAP financial measure that our management believes to be most directly comparable.

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Year Ended December 31, 2024 Compared to Year Ended December 31, 2023 

Homes Sales.  Our home sales revenues, home closings, average sales price per home closed (ASP), average community count and average monthly absorption rate by reportable segment for the years ended December 31, 2024 and 2023, and our community count as of December 31, 2024 and 2023, were as follows (revenues in thousands):

Year Ended December 31, 2024As of December 31, 2024Reportable SegmentRevenuesHome ClosingsASPAverage Community CountAverageMonthlyAbsorption RateCommunity Count at End of PeriodCentral$564,608 1,757 $321,348 44.83.350Southeast538,170 1,635 329,156 27.25.031Northwest258,407 483 535,004 14.32.818West472,655 1,140 414,610 21.74.426Florida368,758 1,013 364,026 22.53.826Total$2,202,598 6,028 $365,394 130.53.8151

Year Ended December 31, 2023As of December 31, 2023Reportable SegmentRevenuesHome ClosingsASPAverage Community CountAverageMonthlyAbsorption RateCommunity Count at End of PeriodCentral$730,688 2,241 $326,054 35.75.240Southeast556,808 1,716 324,480 24.85.828Northwest251,171 511 491,528 10.24.211West381,102 992 384,175 14.05.916Florida438,811 1,269 345,793 19.25.522Total$2,358,580 6,729$350,510 103.95.4117

Home Sales Revenues. Home sales revenues for the year ended December 31, 2024 were $2.2 billion, a decrease of $156.0 million, or 6.6%, from $2.4 billion for the year ended December 31, 2023. The decrease in home sales