Company: UHG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001830188-25-000065
Chunk: 64

Company: United Homes Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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 decrease of $17.8 million, or 8.5%, from $210.3 million for the six months ended June 30, 2024. The decrease in revenues was primarily attributable to the decrease in production-built home closings, partially offset by an increase in average sales price of production-built homes. Additionally, for the six months ended June 30, 2024 closings included 60 build to rent units with significantly lower ASPs, compared to no build to rent closings for the six months ended June 30, 2025. When factoring in these build to rent unit closings, total ASP increased 6.9% compared to the prior year period. The decline in the number of homes closed as compared to the six months ended June 30, 2024 reflected a decrease of 18.2% in the GSH South Carolina segment, partially offset by an increase of 31.8% and 100.0% in the Rosewood reporting segment and Other segment related to the Raleigh market, respectively.

The following table provides a summary of the Company’s revenues, home closings, and ASP in each of the reportable segments (revenues in thousands):

Six Months Ended June 30,20252024Period over period changeRevenuesClosingsASP1RevenuesClosingsASP1RevenuesClosingsASP1GSH South Carolina$162,957 502 $324,788 $187,965 614 $319,179 (13.3)%(18.2)%1.8 %Rosewood18,459 29 650,321 14,189 22 644,524 30.1 %31.8 %0.9 %Other211,091 24 462,125 8,104 12 667,000 36.9 %100.0 %(30.7)%Total$192,507 555 $347,231 $210,258 648 $337,994 (8.4)%(14.4)%2.7 %

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1 Average sales price of homes closed, excluding the impact of percentage of completion revenues and build to rent revenues.

2 Other consists of UHG’s homebuilding operations in Raleigh, NC.

Cost of Sales and Gross Profit: Cost of sales for the six months ended June 30, 2025 was $158.5 million, a decrease of $16.1 million,