LGIH · 10-Q · 2026Q1 · Full report

Home Closings and Orders

LGI Homes, Inc. · 2026-04-28 · Importance 48 · Surprise 40

Home sales revenues for Q1 2026 were $319.7 million, down 9.0% from $351.4 million in Q1 2025, driven primarily by an 11.5% decrease in homes closed. Homes closed decreased to 881 in Q1 2026 from 996 in Q1 2025, while average sales price per home closed increased 2.9% to $362,924. Wholesale revenues fell materially, reducing institutional channel contribution and lowering overall closings and absorption rates across markets. Segment variances were large: Central revenues fell 11.9%, Southeast fell 28.9%, Northwest increased 8.1%, West increased 13.3%, and Florida decreased 4.2% during the three months ended March 31, 2026 versus the prior year period.

Key facts

• Key home sales revenues for the three months ended March 31, 2026 were $319.7 million, a decrease of 9.0% from $351.4 million in the three months ended March 31, 2025.
• Total home sales revenues by company total for the three months ended March 31, 2026 were $319,736 thousand with ASP $362,924, average community count 140.7 and average monthly absorption rate 2.1.
• Homes closed decreased 11.5% to 881 homes for the three months ended March 31, 2026 from 996 homes for the three months ended March 31, 2025.
• For the three months ended March 31, 2026 the company closed 916 homes including 35 currently or previously leased single-family homes.
• Excluding the 35 currently or previously leased single-family homes, the average sales price per home closed for the three months ended March 31, 2026 was $362,924.
• Average sales price per home closed increased 2.9% to $362,924 for the three months ended March 31, 2026 from $352,831 for the three months ended March 31, 2025.
• For the three months ended March 31, 2025, the company closed 996 homes.
• Since commencing home building operations in 2003, the company has constructed and closed over 80,000 homes.

Impact estimates