All I can say is WOW! 433 homes closed in December and 3404 for the year up 44.5% from last year. They project over 4000 homes for 2016. Those are some really nice numbers.
LGI Homes, Inc. (LGIH) today announced an all-time record for closings during a single month with 433 homes closed in December 2015. In addition, the Company announced record-setting quarterly closings of 946 homes during the fourth quarter of 2015 and finished out the year with 3,404 homes closed. This record-setting performance surpasses its previous record of 2,356 home closings for 2014 by 44.5%. At of the end of December 2015, the Company had 52 active selling communities.
Assuming that general economic conditions, including interest rates, and mortgage availability in 2016 are similar to those in 2015, we believe we will close more than 4,000 homes during 2016."
Assuming that general economic conditions, including interest rates, and mortgage availability in 2016 are similar to those in 2015, we believe we will close more than 4,000 homes during 2016."
Well, given the last few days, I don’t think the Fed will be raising interest rates too fast. Granted, they should not react to the market, but the wealth effect can impact the economy. Employment numbers coming out Friday I believe. Will strong numbers be good for housing prospects or will they make people think the Fed will raise sooner. We will see.