LGI Homes Reports October 2021 Home Closings

Rhea-AI Summary

LGI Homes (NASDAQ: LGIH) reported a total of 725 home closings in October 2021, a decrease from 818 in October 2020. However, the company achieved a notable 28% increase in home closings over the first ten months of 2021, totaling 8,641 compared to 6,749 in the same period last year. As of October 31, 2021, LGI Homes operated 106 active selling communities. The company continues to be recognized as a leader in the homebuilding industry, known for its commitment to quality and customer service.

Positive

• 28% increase in home closings year-to-date, totaling 8,641.
• Operational presence in 106 active selling communities.

Negative

• 725 home closings in October 2021 represent a decline from 818 in October 2020.

THE WOODLANDS, Texas, Nov. 03, 2021 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced it closed 725 homes in October 2021, compared to 818 homes closed in October 2020. The Company ended the first ten months of 2021 with 8,641 home closings, a 28.0% increase over 6,749 home closings during the first ten months of 2020.

As of October 31, 2021, the Company had 106 active selling communities.

About LGI Homes, Inc.

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. As one of America’s fastest growing companies, LGI Homes has a notable legacy of more than 18 years of homebuilding excellence, over which time it has closed more than 50,000 homes and has been profitable every year. Headquartered in The Woodlands, Texas, LGI Homes has operations across 35 markets in 19 states and, since 2018, has been ranked as the 10^th largest residential builder in the United States based on units closed. Nationally recognized for its quality construction and exceptional customer service, LGI Homes’ commitment to excellence extends to its more than 900 employees, earning the Company numerous workplace awards at the local, state and national level, including Top Workplaces USA’s 2021 Cultural Excellence 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
Vice President of Investor Relations
(281) 210-2586
investorrelations@lgihomes.com

FAQ

What were LGI Homes' home closings in October 2021?

LGI Homes closed 725 homes in October 2021.

How does October 2021's home closing compare to October 2020 for LGI Homes?

In October 2020, LGI Homes closed 818 homes, a decrease of 93 closings in 2021.

What is the year-to-date home closing number for LGI Homes in 2021?

As of October 2021, LGI Homes reported 8,641 home closings year-to-date.

How many active selling communities does LGI Homes have?

As of October 31, 2021, LGI Homes had 106 active selling communities.

What is LGI Homes' standing in the residential building industry?

LGI Homes has been ranked as the 10th largest residential builder in the U.S. based on units closed.