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 launch of three new communities in the Dallas-Fort Worth area: Hampton Meadows, Willowwood, and Chisholm Springs. Willowwood will feature 174 homes priced from the $230s, offering four floor plans and new designs, alongside energy-efficient upgrades. Hampton Meadows will include six floor plans, ranging from 1,706 to over 2,700 square feet, starting in the $250s. Chisholm Springs, located in Newark, offers five floor plans starting from the $210s. This expansion aims to meet varying buyer specifications and price points.
LGI Homes has announced the opening of its latest community, Hadleigh at Cedar Creek, located in Youngsville, near Raleigh, NC. This community features one- and two-story homes ranging from 1,317 to 2,201 square feet, with five floor plans available. Priced from the low-$200s, the homes include modern design features and the CompleteHome™ package, which offers energy-efficient appliances and ample storage. The community is conveniently located near shopping and recreational areas, enhancing its appeal to homebuyers.
LGI Homes (NASDAQ: LGIH) reported strong growth in home closings for June 2020, achieving 760 closings, a 16.7% increase from June 2019. The second quarter also saw record quarterly closings of 2,005 homes, up 3.1% year-over-year. For the first half of 2020, total closings reached 3,840, marking a 21.1% increase over the same period last year. Additionally, the company celebrated its 40,000th home closing since 2003. Financial results for Q2 will be announced on August 4, 2020.
LGI Homes (Nasdaq: LGIH) has announced the grand opening of Bay Vista, a new community of 120 single-family homes in Bremerton, Washington. The homes range from 1,200 to over 2,100 square feet, offering five distinct floor plans. This development is strategically located near WA-3 and the Bremerton Ferry Dock, making it convenient for commuting to Seattle and Tacoma. Bay Vista aims to provide homebuyers a blend of affordable, high-quality living with attractive local amenities, including parks and shopping, and features a pocket park and paved walking paths.
LGI Homes (LGIH) has commenced construction of Club Liberty, a $9 million amenity center at the Summit at Liberty community in Rio Vista, California. The facility spans 4.5 acres and includes a fitness studio, resort-style pool, community garden, and gathering spaces. The Ranch House, a central hub within Club Liberty, will host various resident activities and features the Liberty House Café. Additionally, a sport court complex has been completed with tennis and pickleball courts. Homes at Summit at Liberty are available starting in the $380s, with an emphasis on modern designs.
LGI Homes (Nasdaq: LGIH) announced the opening of two new communities in the Denver area: Evans Place in Keenesburg and Sorrento in Mead. Evans Place offers affordable three- and four-bedroom homes starting in the low-$300s, featuring stylish upgrades and community amenities. Sorrento presents three to five-bedroom homes beginning in the low-$400s, with enhanced features. Both locations aim to meet the high demand for homeownership amid low interest rates, showcasing LGI's commitment to quality construction in this growing market.
LGI Homes (NASDAQ: LGIH) reported 640 home closings in May 2020, down from 681 in May 2019. However, the company achieved a 22.2% increase in total home closings for the first five months of 2020, totaling 3,080 homes compared to 2,521 homes in the same period last year. As of May 2020, LGI Homes operates 116 active selling communities.
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