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) announced new single-family homes in Palm Bay, Florida, located conveniently near I-95 and Orlando attractions. The homes range from over 1,200 to under 2,000 square feet, featuring 3 to 5 bedrooms and 2 to 3 bathrooms. Prices start in the low-$200s. Each home includes the CompleteHome™ package with modern amenities such as energy-efficient appliances and upgraded features. The information center provides tours by appointment, adhering to safety guidelines. For details, call (844) 833-7026 ext 809.
LGI Homes (NASDAQ: LGIH) reported 669 home closings in August 2020, a slight decline from 677 closings in August 2019. However, the company achieved a significant growth overall, with 5,120 home closings in the first eight months of 2020, representing a 13.2% increase compared to 4,521 closings during the same period in 2019. As of August 2020, LGI Homes had 107 active selling communities, indicating robust operational capacity.
LGI Homes, Inc. (NASDAQ: LGIH) reported 611 home closings in July 2020, down from 672 in July 2019. However, for the first seven months of 2020, home closings rose by 15.8%, totaling 4,451 compared to 3,844 during the same period in 2019. As of July 2020, LGI Homes operated 111 active selling communities, continuing to solidify its position as the 10th largest residential builder in the U.S. The company has a legacy of over 17 years, closing more than 40,000 homes. For further details, visit LGIHomes.com.
LGI Homes, Inc. (NASDAQ: LGIH) reported robust second quarter and six-month financial results for 2020, reflecting strong demand for homeownership amid the COVID-19 pandemic. Net income surged 20.8% to $55.6 million, with home sales revenues rising 4.3% to $481.6 million. Home closings reached 2,005, marking a 3.1% increase. The average home sales price grew by 1.1% to $240,200. For the year, the company anticipates closing between 8,000 to 8,800 homes and expects an increase in average home sales price to between $245,000 and $255,000.
LGI Homes, through its brand Terrata Homes, has launched a new section of luxury homes in Magnolia Reserve, north of The Woodlands, Texas. The homes are on half-acre lots and range from 2,603 to 4,096 square feet, featuring up to four bedrooms and modern upgrades. Prices start from the $380s. This new community is gaining popularity due to its amenities, scenic views, and accessibility to major employers and recreational options. Division President Brian Batten highlighted the demand for these homes, emphasizing their appeal to buyers seeking space and luxury.
LGI Homes (Nasdaq: LGIH) has announced the opening of Skyridge Estates, a new community in the greater Seattle area, featuring 249 single-family homes priced from the $380s. These homes include LGI's CompleteHome™ package, offering modern amenities and spacious designs. The community is conveniently located near local schools and outdoor recreational areas. Ryan Stokes, Division President, emphasized the value and serene environment of Skyridge Estates. The homes range from approximately 1,200 to 2,100 square feet and include various features such as upgraded kitchen appliances and private owner retreats.
FAQ
What is the current stock price of LGI Homes (LGIH)?
What is the market cap of LGI Homes (LGIH)?
What does LGI Homes, Inc. specialize in?
Where is LGI Homes headquartered?
What are the main product offerings of LGI Homes?
How does LGI Homes keep their home prices affordable?
What recent financial highlights has LGI Homes reported?
In which regions does LGI Homes operate?
What brands does LGI Homes operate under?
What type of communities does LGI Homes develop?
How does LGI Homes ensure the quality of its homes?
Where can I find the latest news about LGI Homes?
