Welcome to our dedicated page for LGI Homes news (Ticker: LGIH), a resource for investors and traders seeking the latest updates and insights on LGI Homes stock.
LGI Homes, Inc. (symbol: LGIH) is a premier homebuilder based in The Woodlands, Texas, dedicated to making homeownership dreams come true since 2003. Specializing in the design, construction, and sale of new homes, LGI Homes strategically places its beautiful new homes in amenity-rich communities near major metropolitan areas, offering the perfect blend of location, affordability, and lifestyle.
The company’s mission is to provide both first-time and long-time homebuyers with quality homes at affordable prices. This is achieved through an efficient business model where LGI Homes procures and develops its own land, allowing for significant cost savings that are passed directly to customers. The communities are situated close to urban centers, providing residents with the benefits of city life while enjoying the open space and lower costs of suburban living.
LGI Homes offers a variety of products including entry-level homes, move-up homes, and luxury series homes under the LGI Homes and Terrata Homes brands. Each community features a set number of floor plans with appealing upgrades such as granite countertops, modern appliances, and ceramic tile flooring. The company's operations are divided into seven segments: Central, Midwest, Southeast, Mid-Atlantic, Northwest, West, and Florida, with the majority of revenue generated from the Central division.
Recent achievements include robust balance sheet highlights, significant home sales revenue, increased average sales prices per home closed (ASP), and notable average monthly absorption rates. LGI Homes continues to expand its footprint with a substantial backlog of owned and controlled lots, ensuring a steady pipeline of new homes to meet market demand.
As a publicly traded company, LGI Homes is committed to transparency and providing shareholders with the latest updates on financial performance, community counts, and closing metrics by reportable segment. For more detailed information and the latest news, visit here.
LGI Homes (NASDAQ: LGIH) reported its home closings for December 2024 and full year performance. The company achieved 580 home closings in December, contributing to 1,636 total closings in Q4 2024 (including a bulk sale of 103 leased single-family homes in November). For the full year 2024, LGIH completed 6,131 home closings.
The company maintained 151 active selling communities as of December 31, 2024, meeting their guidance targets for both annual home closings and year-end active community count. The company plans to release its Q4 and full-year 2024 financial results before market opening on February 25, 2025, followed by a conference call at 12:30 p.m. Eastern Time.
LGI Homes (NASDAQ: LGIH) has announced the opening of Jennings Farm, a new gated community in Middleburg, Fla. Jennings Farm offers upgraded homes and amenities, reflecting the theme 'Where Joyful Living Begins'.
According to Joe Lamoureux, Vice President of Sales, the community aims to create an environment for families to thrive. Homes feature 3-5 bedrooms, ranging from 1,200 to over 2,900 sq ft, with modern finishes and the CompleteHomePlus™ package, which includes stainless steel appliances, granite countertops, recessed lighting, and smart-home technology, all included in the sales price.
Conveniently located off Highway 21, Jennings Farm provides easy access to shopping, dining, and schools, including Middleburg High School. A $3 million amenity center, set to open in 2025, will feature a pool, pickleball courts, a party lawn, and a dog park. Homes are priced from the mid-$300s, with move-in-ready options available now. Potential buyers can schedule a tour by calling (855) 617-4289 ext 779 or visiting LGIHomes.com/JenningsFarm. The Information Center is open 7 days a week.
LGI Homes (NASDAQ: LGIH) has announced the grand opening of Applewood, a new residential community in King, northwest of Winston-Salem. The development features five new floor plans with homes starting from the $290s, offering quick move-in options.
The community provides convenient access to various amenities, including Pilot Mountain State Park hiking trails and Robertson Berry Farm. Located near US-52, residents enjoy easy commuting to Winston-Salem along with proximity to shopping, dining, and entertainment options.
Each home comes equipped with the CompleteHome™ package, featuring premium upgrades at no additional cost, including:
- Stainless steel Whirlpool® kitchen appliances
- Granite countertops
- 36" upper cabinets with crown molding
- Energy-efficient features like programmable thermostats
- Double-pane Low-E vinyl windows
- Wi-Fi-enabled garage door openers
LGI Homes (NASDAQ: LGIH) has achieved a significant milestone by closing its 75,000th home. Founded in 2003, the company has maintained its mission of providing affordable homeownership alternatives to renting across the United States. Eric Lipar, Chairman and CEO, emphasized this achievement as a testament to the company's dedication and team passion.
The milestone highlights LGI Homes' successful execution of its core mission to make homeownership accessible while delivering value, quality, and exceptional customer service. The company attributes this achievement to its employees' and partners' commitment to their motto of 'changing lives, one home at a time' and maintains its focus on innovation and continued growth in the housing market.
LGI Homes (NASDAQ: LGIH) announces the opening of Choplin Farms, a new community in Nash County, featuring homes on half-acre to 1+ acre lots. Located 35 minutes from Downtown Raleigh, the community offers new floor plans ranging from 1,531 to 2,373 square feet, with three to four bedrooms and two to two-and-a-half baths. The lineup includes three one-story ranch-style plans with covered porches and rear decks, plus two two-story plans with flexible spaces.
All homes include the CompleteHome™ package featuring granite countertops, stainless steel appliances, and energy-efficient upgrades at no extra cost. Prices start from the mid-$300s. The community provides easy access to major employers, shopping, dining, and outdoor recreational areas including Buckhorn Lake.
LGI Homes has announced the grand opening of Brimington Farm, a new community in Waynesboro, Pennsylvania. The development offers affordable housing options with 3-bedroom townhomes starting in the $300s and 3- to 4-bedroom single-family homes starting in the mid-$400s. Each home includes the CompleteHome Plus™ package featuring granite countertops, stainless steel appliances, and energy-efficient upgrades at no additional cost.
The community is strategically located near major highways, championship golf courses, and top-rated ski resorts. Residents will enjoy proximity to Memorial Park, Waynesboro Country Club, Liberty Mountain Resort, and Hagerstown's shopping and dining options. Children can walk to all schools from the neighborhood, making it an ideal location for families.
LGI Homes reported closing 531 homes in November 2024, which includes a bulk sale of 103 single-family rental homes. As of November 30, 2024, the company maintained 142 active selling communities.
LGI Homes has announced the pricing of $400 million in unsecured Senior Notes due 2032. The Notes will carry a 7.000% annual interest rate and will be guaranteed by the Company's subsidiaries that guarantee its revolving credit facility. The sale is expected to complete on November 15, 2024, subject to closing conditions. The Company plans to use the net proceeds to repay a portion of its outstanding revolving credit facility borrowings. The Notes are being offered to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.
LGI Homes has announced a private offering of $400 million in unsecured Senior Notes due 2032. The notes will be offered to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act. The notes will be guaranteed by the Company's subsidiaries that guarantee its revolving credit facility. The proceeds will be used to repay a portion of outstanding borrowings under the Company's revolving credit facility. The offering is subject to market conditions and has not been registered under the Securities Act.
LGI Homes reported closing 525 homes in October 2024. As of October 31, 2024, the company maintained 138 active selling communities.
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