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) has announced the opening of Hidden Creek, a new residential community located in Frederick, north of Denver. The community features an array of amenities, offering homeowners mountain views and extensive outdoor trails. Homes range from 1,465 to 2,684 square feet, with three to five bedrooms and prices starting in the $430,000s. Frederick is recognized for its exceptional schools and vibrant community events, making it an appealing choice for homebuyers.
LGI Homes announced the grand opening of Pony Lake, featuring 39 single-family homes located in Pierce County, Washington. Priced starting in the low-$500s, homes range from approximately 1,500 to 2,400 square feet and include LGI’s CompleteHome™ suite of upgrades. The community offers convenient access to major employers like Boeing and Amazon and includes amenities such as a private park. LGI Homes is recognized as the 10th largest residential builder in the U.S. based on closed units since 2018.
LGI Homes, Inc. (NASDAQ: LGIH) reported a substantial increase in home closings, achieving 1,147 homes in March 2021, a 44.3% rise from 795 homes in March 2020. The company also reached a record quarterly total of 2,561 home closings for Q1 2021, up 39.6% from 1,835 in Q1 2020. As of March 31, 2021, LGI Homes operated 110 active selling communities. Financial results for Q1 will be released on May 4, 2021, accompanied by a conference call at 12:30 p.m. Eastern Time.
LGI Homes has announced the grand opening of Harts Crossing, a new community in Portland, Oregon, comprising 32 townhomes. Located 10 miles east of downtown, these low maintenance homes begin pricing in the $390s and include modern upgrades like attached garages and energy-efficient appliances. Buyers can choose from three floor plans ranging from 1,300 to 1,600 square feet. The community is conveniently near TriMet MAX light rail, providing easy access to Portland's amenities. Quick move-in options are available for qualified buyers.
LGI Homes (NASDAQ: LGIH) has announced the grand opening of Huntington Pointe, its first community in the Norfolk, VA market. This master-planned community will offer 115 new homes, including townhomes and single-family homes, with prices starting in the low-$300s. The homes feature modern amenities, energy-efficient attributes, and are backed by a 10-year structural warranty. Residents will enjoy a pedestrian-friendly neighborhood with access to parks and local attractions. Quick move-in opportunities and attractive financing options are available for qualified buyers.
LGI Homes has announced the grand opening of Quarry Oaks at Cambrian Hills, its first community in Pennsylvania, located in Hanover. The community will feature 78 single-family homes priced from the $280s, offering a choice of floor plans from approximately 1,290 to over 2,600 square feet. These homes include modern amenities such as upgraded kitchens and landscaped yards. Situated near major employment centers, the community is conveniently located close to shopping and schools, enhancing its appeal for potential buyers.
LGI Homes has opened two new communities in Albuquerque, New Mexico: Volterra Village and De La Reina. These developments aim to meet the growing demand for homes in the area. Volterra Village features low-maintenance townhomes starting in the $250s, with additional amenities including a city park. De La Reina offers single-family homes starting in the $200s, with easy access to I-25 and nearby parks. Both communities include LGI’s CompleteHome™ package, ensuring energy efficiency and modern conveniences. Quick move-in options are also available.
LGI Homes (NASDAQ: LGIH) reported 764 home closings in February 2021, marking a 26.1% increase from 606 closings in February 2020. In total, the company has closed 1,414 homes during the first two months of 2021, representing a 36.0% growth compared to 1,040 closings in the same period last year. By the end of February 2021, LGI Homes operated 103 active selling communities across various states. With over 45,000 homes closed since its inception, LGI Homes is a leading player in the U.S. residential building market.
LGI Homes Announces Madison Village Launch
TAMPA, Fla., Feb. 24, 2021 – LGI Homes (NASDAQ: LGIH) has opened Madison Village, a new townhome community just 9 miles from downtown Tampa. The community features two-story homes ranging from 1,574 to 1,817 square feet, with 2 to 3 bedrooms and a starting price in the $240s. Each home includes high-quality upgrades such as stainless steel appliances, granite countertops, and smart-home technology. Madison Village also offers amenities like a picnic pavilion, walking paths, and a dog park, catering to families and pet owners.
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