Home Building Hot Streak: LGI Homes Reports 15 Consecutive Quarters of Profitability
Categories: Canyon Crossing, Creekside Village, Deer Creek, Fort Worth, Houston, LGI Homes, News, San Antonio, Sunrise Meadow 1 Comment »Houston, Texas – It’s earnings season for the home building industry, and amid the sea of public builder financials currently being reported, results like this stand out in contrast: For the 15th consecutive quarter, LGI Homes, one of the nation’s top 100 single family home builders has achieved profitability.
“Posting financials in the black is a rare occurrence for home builders in the current environment,” said Eric Lipar, CEO of the Houston-based housing and land development company that is achieving gross margins near 30%. “We approach this business in a way that’s very different from other builders. This year, on average, we are generating 135 incoming leads per week, per subdivision. We feel like our unique sales and marketing model has really allowed us to side- step the housing and economic downturn.”
The company is focused on offering quality homes at very affordable prices to the first-time buyer market. According to Lipar, operating under the LGI Homes way gives the company a foundation for success that’s not dependent on creative financing, government stimulus or other unsustainable support. Read the rest of this entry »