LGIH · 10-Q · 2026Q1 · Full report
Geographic Market Commentary
LGI Homes, Inc. · 2026-04-28 · Importance 47 · Surprise 48
LGI reports mixed regional performance across its five reportable segments: Central revenues declined 11.9% driven by a 10.3% decline in home closings and lower ASP, while Southeast revenues fell 28.9% primarily due to a 29.8% drop in home closings and lower absorption. Northwest and West segments showed improvement with NW up 8.1% (slightly higher absorption and +6.5% ASP) and West up 13.3% (higher absorption and +4.7% ASP); Florida revenues decreased modestly by 4.2%. Management attributes regional differences to absorption rate changes, average community counts, and geographic mix effects on ASP and incentives.
Key facts
- Home sales revenues in the Southeast segment decreased by $29.4 million, or 28.9%, during the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to a 29.8% decrease in the number of homes closed.
- Home sales revenues in the Central segment decreased by $12.0 million, or 11.9%, during the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to a 10.3% decrease in the number of homes closed and a decrease in the ASP.
- Home sales revenues in the West segment increased by $8.9 million, or 13.3%, during the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to an 8.2% increase in the number of homes closed and a 4.7% increase in ASP.
- Home sales revenues in the Northwest segment increased by $2.8 million, or 8.1%, during the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to a 1.5% increase in the number of homes closed and a 6.5% increase in ASP.
- Home sales revenues in the Central reportable segment were $89.160 million for the three months ended March 31, 2026 with an average sales price (ASP) of $301,216.
- Home sales revenues in the Southeast reportable segment were $72.323 million for the three months ended March 31, 2026 with an ASP of $330,242.
- Home sales revenues in the Northwest reportable segment were $37.006 million for the three months ended March 31, 2026 with an ASP of $560,697.
- Home sales revenues in the West reportable segment were $75.850 million for the three months ended March 31, 2026 with an ASP of $440,988.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | negative | realized | -8.4% | Home sales revenues in the Southeast segment decreased by $29.4 million, or 28.9%, during the three months ended March 31, 2026 compared… |
| revenue | negative | realized | -3.4% | Home sales revenues in the Central segment decreased by $12.0 million, or 11.9%, during the three months ended March 31, 2026 compared to… |
| revenue | positive | realized | +2.5% | Home sales revenues in the West segment increased by $8.9 million, or 13.3%, during the three months ended March 31, 2026 compared to the… |
| revenue | positive | realized | +0.8% | Home sales revenues in the Northwest segment increased by $2.8 million, or 8.1%, during the three months ended March 31, 2026 compared to… |
| revenue | negative | realized | -0.6% | Home sales revenues in the Florida segment decreased by $2.0 million, or 4.2%, during the three months ended March 31, 2026 compared to… |