Company: LGIH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001580670-25-000058
Chunk: 175

Company: LGI Homes, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part II, Item 7
Chunk 175
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1 14 West128,155 308 416,088 22.0 4.7 23 Florida97,365 270 360,611 23.3 3.9 24 Total$602,497 1,655 $364,047 128.3 4.3 128 

Home sales revenues for the three months ended June 30, 2025 were $483.5 million, a decrease of $119.0 million, or 19.8%, from $602.5 million for the three months ended June 30, 2024. The decrease in home sales revenues was primarily due to a 20.1% decrease in homes closed, partially offset by a 0.4% increase in the average sales price per home closed during the three months ended June 30, 2025 as compared to the three 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 three months ended 

24

June 30, 2025 as compared to 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