LGI Homes, Inc. Reports October 2024 Home Closings
Rhea-AI Summary
LGI Homes reported closing 525 homes in October 2024. As of October 31, 2024, the company maintained 138 active selling communities.
Positive
- Delivered 525 home closings in October 2024
- Maintains substantial presence with 138 active selling communities
Negative
- None.
Insights
The October closings of 525 homes represents a significant operational metric for LGI Homes. This monthly performance data provides important insight into the company's sales momentum amid challenging market conditions with elevated mortgage rates. For context, this figure helps track the company's progress toward their annual delivery targets and cash flow generation. The 138 active selling communities indicates the company's current market presence and potential for future revenue generation.
The housing market continues to face headwinds from high interest rates and affordability concerns, making these closing numbers particularly relevant for evaluating LGIH's execution in a difficult environment. Monthly closing data helps gauge the company's operational efficiency and market adaptation strategies in response to these challenges.
THE WOODLANDS, Texas, Nov. 05, 2024 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced it closed 525 homes in October 2024.
As of October 31, 2024, the Company had 138 active selling communities.
About LGI Homes, Inc.
Headquartered in The Woodlands, Texas, LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes across 36 markets in 21 states. As one of America’s fastest growing companies, LGI Homes has closed over 70,000 homes since its founding in 2003 and has delivered profitable financial results every year. Nationally recognized for its quality construction and exceptional customer service, LGI Homes was named to Newsweek’s list of the World’s Most Trustworthy Companies. LGI Homes’ commitment to excellence extends to its more than 1,000 employees, earning the Company numerous workplace awards at the local, state and national level, including the Top Workplaces USA 2024 Award. For more information about LGI Homes and its unique operating model focused on making the dream of homeownership a reality for families across the nation, please visit the Company’s website at www.lgihomes.com.
CONTACT:
Joshua D. Fattor
Executive Vice President, Investor Relations and Capital Markets
(281) 210-2586
investorrelations@lgihomes.com
FAQ
How many homes did LGI Homes (LGIH) close in October 2024?
How many active selling communities did LGI Homes (LGIH) have as of October 31, 2024?
What was LGI Homes' (LGIH) operational update for October 2024?
