# EDGAR Filing Document

**Accession Number:** 0000799292
**File Stem:** 0000799292-25-000057
**Filing Date:** 2025-7
**Character Count:** 21603
**Document Hash:** f384d80f301bb09464d03ce60930f75a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000799292-25-000057.hdr.sgml**: 20250723

**ACCESSION NUMBER**: 0000799292-25-000057

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250723

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250723

**DATE AS OF CHANGE**: 20250723

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** M/I HOMES, INC.
- **CENTRAL INDEX KEY:** 0000799292
- **STANDARD INDUSTRIAL CLASSIFICATION:** OPERATIVE BUILDERS [1531]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 311210837
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-12434
- **FILM NUMBER:** 251141656

**BUSINESS ADDRESS:**
- **STREET 1:** 4131 WORTH AVENUE STE 500
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43219
- **BUSINESS PHONE:** 6144188000

**MAIL ADDRESS:**
- **STREET 1:** 4131 WORTH AVENUE STE 500
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43219

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** M I HOMES INC
- **DATE OF NAME CHANGE:** 20040112

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** M I SCHOTTENSTEIN HOMES INC
- **DATE OF NAME CHANGE:** 19931228

?xml version='1.0' encoding='ASCII'? mho-20250723

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

---

| |
|:---|
| **CURRENT REPORT** |
| **Pursuant to Section 13 or 15(d) of Securities Exchange Act of 1934** |

---

Date of Report (Date of earliest event reported): July 23, 2025

---

| | | |
|:---|:---|:---|
| **<u>M/I HOMES, INC.</u>** | **<u>M/I HOMES, INC.</u>** | **<u>M/I HOMES, INC.</u>** |
| (Exact name of registrant as specified in its charter) | (Exact name of registrant as specified in its charter) | (Exact name of registrant as specified in its charter) |
| **<u>Ohio</u>** | **<u>1-12434</u>** | **<u>31-1210837</u>** |
| (State or other jurisdiction | (Commission | (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |

---

**<u>4131 Worth Avenue, Suite 500</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Columbus, OH 43219</u>**

(Address of principal executive offices)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; (Zip Code)

**<u>(614) 418-8000</u>**

(Telephone Number)

---

| |
|:---|
| **<u>N/A</u>** |
| (Former name or former address, if changed since last report) |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a.12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| <u>Title of each class</u> | <u>Trading Symbol(s)</u> | <u>Name of each exchange on which registered</u> |
| Common Shares, par value $.01 | MHO | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;FINANCIAL INFORMATION**

**ITEM 2.02&nbsp;&nbsp;&nbsp;&nbsp;RESULTS OF OPERATIONS AND FINANCIAL CONDITION**

On July 23, 2025, M/I Homes, Inc. (the "Company") issued a press release reporting financial results for the three - and six-months ended June 30, 2025. A copy of this press release, including information concerning forward-looking statements and factors that may affect our future results, is attached hereto as Exhibit 99.1.

**ITEM 9.01&nbsp;&nbsp;&nbsp;&nbsp;FINANCIAL STATEMENTS AND EXHIBITS**

(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.

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| | |
|:---|:---|
| <u>Exhibit No.</u> | <u>Description of Exhibit</u> |
| 99.1 | <u>[Press release dated July 23, 2025.](exhibit991earningspressrel.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document).\* |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \*Submitted electronically with this Report in accordance with the provisions of Regulation S-T.

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 23, 2025

M/I Homes, Inc.

---

| | |
|:---|:---|
| By: | /s/ Ann Marie W. Hunker |
|  | Ann Marie W. Hunker |
|  | VP, Chief Accounting Officer and Controller |

---

## Exhibit 99.1

**Exhibit 99.1**

![milogoa42a.jpg](milogoa42a.jpg)

**M/I Homes Reports**

**2025 Second Quarter Results**

Columbus, Ohio (July 23, 2025) - M/I Homes, Inc. (NYSE:MHO) announced results for the three and six months ended June 30, 2025.

**2025 Second Quarter Highlights:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Record second quarter revenue and homes delivered

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Revenue increased 5% to $1.2 billion

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Homes delivered increased 6% to 2,348

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Pre-tax income decreased 18% to $160 million, 14% of revenue

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net income of $121 million ($4.42 per diluted share) versus $147 million ($5.12 per diluted share)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shareholders' equity reached a record $3.1 billion, a 12% increase from a year ago, book

value per share of $117

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• New contracts were 2,078, compared to 2,255 in last year's second quarter, an 8% decrease

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Repurchased $50 million of common stock

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Return on equity of 17%

The Company reported pre-tax income of $160.1 million and net income of $121.2 million ($4.42 per diluted share) for the second quarter of 2025. This compares to pre-tax income of $194.1 million and net income of $146.7 million, or $5.12 per diluted share, for the second quarter of 2024. For the six months ended June 30, 2025, the Company reported pre-tax income of $306.2 million and net income of $232.5 million, or $8.40 per diluted share, compared to $374.4 million and $284.8 million, or $9.90 per diluted share, for the same period of 2024, respectively.

Homes delivered in 2025's second quarter increased 6% to 2,348 homes, a second quarter record. This compares to 2,224 homes delivered in 2024's second quarter. Homes delivered for the six months ended June 30, 2025 decreased 1% to 4,324 from deliveries of 4,382 for the six months ended June 30, 2024. New contracts were 2,078 for the second quarter of 2025, an 8% decrease compared to 2,255 in last year's second quarter. For the first half of 2025, new contracts were 4,370, a 9% decrease compared to 4,802 in the first half of 2024. Homes in backlog at June 30, 2025 had a total sales value of $1.43 billion, a 22% decrease from a year ago. Backlog units at June 30, 2025 decreased 25% to 2,577 homes, with an average sales price of $553,000. At June 30, 2024, backlog sales value was $1.82 billion, with backlog units of 3,422 and an average sales price of $533,000. M/I Homes had a record 234 communities at June 30, 2025 compared to 211 communities at June 30, 2024. The Company's cancellation rate was 13% in the second quarter of 2025 compared to 10% in the second quarter of 2024.

Robert H. Schottenstein, Chief Executive Officer and President, commented, "We delivered solid second quarter results, despite continued challenging market conditions. Our results are highlighted by new second quarter records in revenue and homes delivered, strong gross margins of 25%, 14% pre-tax income and 17% return on equity."

Mr. Schottenstein added, "Although market conditions remain choppy and challenging, we are confident in the underlying fundamentals of the housing industry and our ability to navigate through this uncertain environment. Our balance sheet remains very strong, with zero borrowings under our $650 million unsecured credit facility, a cash

------

position of $800 million, homebuilding debt-to-capital of 18%, and a net debt-to-capital ratio of negative 3%. We continue to strategically invest in our operations and are on track to grow our average community count by approximately 5% this year."

The Company will broadcast live its earnings conference call today at 10:30 A.M. Eastern Time. To listen to the call live, log on to the M/I Homes' website at mihomes.com, click on the "Investors" section of the site, and select "Listen to the Conference Call." A replay of the call will remain available on our website through July 2026.

M/I Homes, Inc. is one of the nation's leading homebuilders of single-family homes. The Company has homebuilding operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Detroit, Michigan; Tampa, Sarasota, Fort Myers/Naples and Orlando, Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas; Charlotte and Raleigh, North Carolina and Nashville, Tennessee.

Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "anticipates," "targets," "envisions," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements. These statements involve a number of risks and uncertainties. Any forward-looking statements that we make herein and in any future reports and statements are not guarantees of future performance, and actual results may differ materially from those in such forward-looking statements as a result of various factors, including, without limitation, factors relating to the economic environment, interest rates, availability of resources, competition, market concentration, land development activities, construction defects, product liability and warranty claims and various governmental rules and regulations including changes in trade policy affecting business such as new or increased tariffs, as well as the potential impact of retaliatory tariffs and other penalties, as more fully discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as the same may be updated from time to time in our subsequent filings with the Securities and Exchange Commission. All forward-looking statements made in this press release are made as of the date hereof, and the risk that actual results will differ materially from expectations expressed herein will increase with the passage of time. We undertake no duty to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in our subsequent filings, releases or presentations should be consulted.

Contact M/I Homes, Inc.

Ann Marie W. Hunker, Vice President, Chief Accounting Officer and Controller, (614) 418-8225

Mark Kirkendall, Vice President, Treasurer, (614) 418-8021

------

**M/I Homes, Inc. and Subsidiaries**

**Summary Statement of Income (unaudited)**

**(Dollars and shares in thousands, except per share amounts)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| New contracts | 2078 | 2255 | 4370 | 4802 |
| Average community count | 230 | 215 | 227 | 214 |
| Cancellation rate | 13% | 10% | 11% | 9% |
| Backlog units | 2577 | 3422 | 2577 | 3422 |
| Backlog sales value | $1425138 | $1822686 | $1425138 | $1822686 |
| Homes delivered | 2348 | 2224 | 4324 | 4382 |
| Average home closing price | $479 | $482 | $477 | $477 |
| Homebuilding revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Housing revenue | $1124475 | $1072044 | $2064506 | $2088557 |
| &nbsp;&nbsp;&nbsp;&nbsp;Land revenue | 6667 | 6975 | 11209 | 10203 |
| Total homebuilding revenue | $1131142 | $1079019 | $2075715 | $2098760 |
| Financial services revenue | 31450 | 30762 | 62970 | 57724 |
| Total revenue | $1162592 | $1109781 | $2138685 | $2156484 |
| Cost of sales - operations | 875973 | 800501 | 1599283 | 1563861 |
| Gross margin | $286619 | $309280 | $539402 | $592623 |
| General and administrative expense | 67247 | 63994 | 126320 | 120078 |
| Selling expense | 63655 | 58495 | 116441 | 112435 |
| Operating income | $155717 | $186791 | $296641 | $360110 |
| Interest income, net of interest expense | (4377) | (7348) | (9574) | (14268) |
| Income before income taxes | $160094 | $194139 | $306215 | $374378 |
| Provision for income taxes | 38851 | 47393 | 73735 | 89571 |
| Net income | $121243 | $146746 | $232480 | $284807 |
| Earnings per share: |  |  |  |  |
| Basic | $4.52 | $5.26 | $8.59 | $10.18 |
| Diluted | $4.42 | $5.12 | $8.40 | $9.90 |
| Weighted average shares outstanding: |  |  |  |  |
| Basic | 26836 | 27878 | 27074 | 27965 |
| Diluted | 27406 | 28668 | 27673 | 28777 |

---

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**M/I Homes, Inc. and Subsidiaries**

**Summary Balance Sheet and Other Information (unaudited)**

**(Dollars in thousands, except per share amounts)**

---

| | | |
|:---|:---|:---|
| | **As of** | **As of** |
| | **June 30,** | **June 30,** |
| | **2025** | **2024** |
| **Assets:** |  |  |
| Total cash, cash equivalents and restricted cash <sup>(1)</sup> | $800398 | $837458 |
| Mortgage loans held for sale | 280867 | 227254 |
| Inventory: |  |  |
| &nbsp;&nbsp;&nbsp;Lots, land and land development | 1683930 | 1467961 |
| &nbsp;&nbsp;&nbsp;Land held for sale | 5005 | 4235 |
| &nbsp;&nbsp;&nbsp;Homes under construction | 1403582 | 1306650 |
| &nbsp;&nbsp;&nbsp;Other inventory | 194089 | 159618 |
| Total Inventory | $3286606 | $2938464 |
| Property and equipment - net | 33749 | 36438 |
| Investments in joint venture arrangements | 67466 | 46180 |
| Operating lease right-of-use assets | 56403 | 56697 |
| Goodwill | 16400 | 16400 |
| Deferred income tax asset | 13451 | 15313 |
| Other assets | 184699 | 165866 |
| Total Assets | $4740039 | $4340070 |
| **Liabilities:** |  |  |
| Debt - Homebuilding Operations: |  |  |
| &nbsp;&nbsp;&nbsp;Senior notes due 2028 - net | $398040 | $397266 |
| &nbsp;&nbsp;&nbsp;Senior notes due 2030 - net | 297621 | 297117 |
| Total Debt - Homebuilding Operations | $695661 | $694383 |
| Notes payable bank - financial services operations | 275926 | 222792 |
| Total Debt | $971587 | $917175 |
| Accounts payable | 252476 | 278859 |
| Operating lease liabilities | 57997 | 58043 |
| Other liabilities | 375843 | 344876 |
| Total Liabilities | $1657903 | $1598953 |
| Shareholders' Equity | 3082136 | 2741117 |
| Total Liabilities and Shareholders' Equity | $4740039 | $4340070 |
| Book value per common share | $117.01 | $100.03 |
| Homebuilding debt to capital ratio <sup>(2)</sup> | 18% | 20% |

---

(1)Includes $0.2 million of restricted cash and cash held in escrow for both quarters ended June 30, 2025 and 2024.

(2)The ratio of homebuilding debt to capital is calculated as the carrying value of our homebuilding debt outstanding divided by the sum of the carrying value of our homebuilding debt outstanding plus shareholders' equity.

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**M/I Homes, Inc. and Subsidiaries**

**Selected Supplemental Financial and Operating Data (unaudited)**

**(Dollars in thousands)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Cash provided by operating activities | $37755 | $27511 | $102642 | $143283 |
| Cash used in investing activities | $(12318) | $(10433) | $(15246) | $(27541) |
| Cash used in by financing activities | $(1417) | $(49782) | $(108568) | $(11088) |
| Land/lot purchases | $101751 | $119182 | $247734 | $226842 |
| Land development spending | $139008 | $144539 | $240607 | $263906 |
| Land sale revenue | $6667 | $6975 | $11209 | $10203 |
| Land sale gross profit | $3202 | $1933 | $3988 | $3246 |
| Financial services pre-tax income | $14476 | $14400 | $30582 | $26712 |

---

**M/I Homes, Inc. and Subsidiaries**

**Non-GAAP Financial Results** <sup>(1)</sup>

**(Dollars in thousands)**

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| &nbsp;&nbsp;Net income | $121243 | $146746 | $232480 | $284807 |
| &nbsp;&nbsp;Add: |  |  |  |  |
| &nbsp;&nbsp;Provision for income taxes | 38851 | 47393 | 73735 | 89571 |
| &nbsp;&nbsp;Interest income - net | (7726) | (10686) | (15767) | (20453) |
| &nbsp;&nbsp;Interest amortized to cost of sales | 8227 | 7938 | 15128 | 16240 |
| &nbsp;&nbsp;Depreciation and amortization | 4904 | 4607 | 9681 | 9074 |
| &nbsp;&nbsp;Non-cash charges | 3916 | 3810 | 8116 | 7349 |
| &nbsp;&nbsp;Adjusted EBITDA | $169415 | $199808 | $323373 | $386588 |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) We believe these non-GAAP financial measures are relevant and useful to investors in understanding our operations and may be helpful in comparing us with other companies in the homebuilding industry to the extent they provide similar information. These non-GAAP financial measures should be used to supplement our GAAP results in order to provide a greater understanding of the factors and trends affecting our operations.

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**M/I Homes, Inc. and Subsidiaries**

**Selected Supplemental Financial and Operating Data**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **NEW CONTRACTS** | **NEW CONTRACTS** | **NEW CONTRACTS** | **NEW CONTRACTS** | **NEW CONTRACTS** | **NEW CONTRACTS** |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,** | **June 30,** | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
|<br><br>**Region** | **2025** | **2024** | **%**<br>**Change** | **2025** | **2024** | **%**<br>**Change** |
| Northern | 873 | 1002 | (13)% | 1938 | 2164 | (10)% |
| Southern | 1205 | 1253 | (4)% | 2432 | 2638 | (8)% |
| Total | 2078 | 2255 | (8)% | 4370 | 4802 | (9)% |

---

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **HOMES DELIVERED** | **HOMES DELIVERED** | **HOMES DELIVERED** | **HOMES DELIVERED** | **HOMES DELIVERED** | **HOMES DELIVERED** |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,** | **June 30,** | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
|<br><br>**Region** | **2025** | **2024** | **%**<br>**Change** | **2025** | **2024** | **%**<br>**Change** |
| Northern | 967 | 951 | 2% | 1793 | 1794 | —% |
| Southern | 1381 | 1273 | 8% | 2531 | 2588 | (2)% |
| Total | 2348 | 2224 | 6% | 4324 | 4382 | (1)% |

---

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **BACKLOG** | **BACKLOG** | **BACKLOG** | **BACKLOG** | **BACKLOG** | **BACKLOG** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
|<br><br>**Region** |<br>**Units** | **Dollars**<br>**(millions)** | **Average**<br>**Sales Price** |<br>**Units** | **Dollars**<br>**(millions)** | **Average**<br>**Sales Price** |
| Northern | 1281 | $721 | $563000 | 1618 | $853 | $527000 |
| Southern | 1296 | $704 | $543000 | 1804 | $970 | $538000 |
| Total | 2577 | $1425 | $553000 | 3422 | $1823 | $533000 |

---

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **LAND POSITION SUMMARY** | **LAND POSITION SUMMARY** | **LAND POSITION SUMMARY** | **LAND POSITION SUMMARY** | **LAND POSITION SUMMARY** | **LAND POSITION SUMMARY** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
|<br><br>**Region** | **Lots**<br>**Owned** | **Lots Under**<br>**Contract** |<br>**Total** | **Lots**<br>**Owned** | **Lots Under**<br>**Contract** |<br>**Total** |
| Northern | 7104 | 8710 | 15814 | 6784 | 10250 | 17034 |
| Southern | 17403 | 17247 | 34650 | 16520 | 15898 | 32418 |
| Total | 24507 | 25957 | 50464 | 23304 | 26148 | 49452 |

---

<br>