THE WOODLANDS, Texas, Feb. 03, 2017 (GLOBE NEWSWIRE) – LGI Homes, Inc. (LGIH) today announced 172 homes closed in January 2017, compared to 232 home closings in January 2016.
“Although January closings were down year over year, sales are off to a strong start in 2017 and demand for homeownership remains solid. Assuming that general economic conditions, including interest rates and mortgage availability, in the remainder of 2017 are similar to those in the fourth quarter of 2016, we believe we are on track to close more than 4,700 homes this year,” said Eric Lipar, the Company’s Chief Executive Officer and Chairman of the Board.
As of the end of January 2017, the Company had 65 active selling communities.
LGI Homes, Inc. (LGIH) today announced 172 homes closed in January 2017, compared to 232 home closings in January 2016.
“Although January closings were down year over year, sales are off to a strong start in 2017
I would say I view these monthly closing fluctuations with a low level of concern, but not no concern. That said, maybe lower this time than most for a few reasons:
I believe they predicted this in the Q3 conference call.
They probably closed everything they possibly could to make December as good as possible. I think this is a little nutty, but most businesses do this.
I’m still convinced that their 2017 goals are not that big of a stretch.