Last week, LGI Homes, Inc. - located in The Woodlands, Texas - announced it sold 432 homes this May, up from 255 closings in May 2015, representing almost a 70% increase. The company further reported that the first five months of 2016 saw an overall increase of 424 homes, up from 1,193 to 1,617, compared to the first five months of 2015. The entry-level builder has increased its year-over-year growth by 35.5%.
LGI Homes builds homes in 10 states, including Washington, where it opened in May, Texas, Arizona, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Tennessee and Florida. Over the past 13 years of operation, LGI has closed more than 13,000 homes. LGI's report comes in tandem with Forbes' predictions at the end of 2015. Bill Conerly, Forbes contributor, stated that over the next two years new home construction will be on the rise. LGI Homes is currently selling houses in 56 locations across the country.