THE WOODLANDS, Texas – (Realty News Report) — LGI Homes Inc., a Texas-based homebuilder, reported strong November sales, closing 748 homes compared with 500 closings in November 2018.
The November closings represented a 49.6 percent increase year-over-year, highlighting the company’s accelerating momentum late in the year.
Builders nationwide picked up pace in 2019 as mortgage rates eased and the Federal Reserve moved to cut rates, reversing the tighter rate environment seen in 2018. Those market shifts helped support demand for new homes across many regions.
For the year-to-date through November, LGI Homes recorded 6,638 home closings, an 18 percent increase from the 5,628 closings reported during the first eleven months of 2018. The year-over-year gain underlines the company’s expansion and improved sales velocity across its communities.
Headquartered in The Woodlands, Texas, LGI Homes operates in 103 communities nationwide, offering a broad geographic footprint that spans growing Sun Belt and other markets.
LGI Homes designs, builds and sells single-family homes across multiple states, including Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, Nevada and West Virginia. With this multi-state presence and a focus on entry-level and move-up buyers, the company was recently ranked among the ten largest residential builders in the United States.
Dec. 5, 2019 Realty News Report Copyright 2019
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