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LGI Homes, Inc. (NASDAQ: LGIH) has announced the opening of its second community in the Modesto, California, market, Diamond Bar East. The new community offers a variety of homes ranging from 1,104 to over 2,200 square feet, with three to five bedrooms and two to three baths. The homes come with luxury upgrades, solar panels, and open-concept layouts. Located in Riverbank, near Modesto, Diamond Bar East provides quick access to amenities, parks, schools, and employment opportunities. With homes starting from the $470s, this community is ideal for homebuyers seeking quality, new homes at an affordable price.
LGI Homes, Inc. (NASDAQ: LGIH) has opened a new section at Morningstar Ranch, offering single-story homes in Bakersfield. The community is near downtown and amenities, with homes starting in the $440s. LGI Homes is known for its quality construction and customer service, having sold over 65,000 homes since 2003.
LGI Homes, Inc. reported closing 505 homes in April 2024 with 127 active selling communities as of April 30, 2024.
LGI Homes, Inc. (NASDAQ: LGIH) has opened a new community called The Village at Whiskey Ridge in Marysville, Washington. The community offers affordable townhomes with family-friendly amenities, close to major employment centers and attractions. LGI Homes has sold over 20 homes since the opening in February, with prices starting at $560,000 for three- and four-bedroom homes. The townhomes feature modern kitchens, private owner retreats, and energy-saving features. The community is commuter-friendly, with convenient access to employers in Everett and downtown Seattle.
LGI Homes, Inc. (NASDAQ: LGIH) has launched Heritage Gardens in Tacoma, Washington, offering affordable new construction homes with eco-friendly features. The community provides a variety of townhome and single-family options, with spacious floor plans and modern amenities. LGI Homes is the first to introduce 'Built Green' certified homes in Tacoma, focusing on energy efficiency and eco-friendly living. The homes include designer-selected features like Whirlpool® appliances, granite countertops, and energy-saving upgrades. Heritage Gardens residents have access to a neighborhood park, community garden, and nearby entertainment venues. Homes start from the $420s, showcasing a commitment to quality and sustainability.
LGI Homes, Inc. reported strong financial results for Q1 2024, with home sales revenues of $390.9 million, gross margin of 23.4%, and net income of $17.1 million. The company repurchased 89,227 shares of common stock and had total liquidity of $491.5 million. LGI Homes experienced positive lead and sales trends, expanded communities, and maintained margins during the quarter. With a record 120 active communities and strong demand, the company is well-positioned to meet its guidance expectations for 2024.
