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 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.
LGI Homes (NASDAQ: LGIH) reported strong financial results for Q4 and the full year 2020. Q4 net income surged 110.3% to $136.4 million, with home sales revenues climbing 48.2% to $897.4 million. Full year net income rose 81.3% to $323.9 million, driven by a 28.8% increase in home sales revenues to $2.4 billion. The average sales price per home closed increased by 6.1% to $253,553, and gross margins improved significantly. The ending backlog of homes increased 140.4% to 2,964 homes, indicating strong demand going into 2021.
LGI Homes has announced the launch of a new residential community, The Arbors, in the Sacramento area. This community features three innovative floor plans ranging from 1,213 to over 1,800 square feet, including one- and two-story options with up to five bedrooms. Homes are designed with modern amenities such as energy-efficient appliances and designer upgrades, starting in the low $300,000s. Conveniently located near major entertainment venues and outdoor recreation, The Arbors aims to attract homebuyers seeking quality living in a desirable location.
LGI Homes, Inc. (NASDAQ: LGIH) reported significant growth with 650 home closings in January 2021, marking a 49.8% increase compared to 434 closings in January 2020. As of the end of January 2021, the company operated 106 active selling communities. With a notable presence across several states, LGI Homes has been recognized as the 10th largest residential builder in the U.S. since 2018, having closed over 45,000 homes in its 17-year history.
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