M/I Homes Third Quarter Numbers
Quarter Three Fiscal Year


($4.7 M) -127%

($31.8 M)- 103%

Home Deliveries

582 +13% 


New Orders


1,876 +1%

Behind the Numbers:

For M/I Homes, it didn’t really pay to sell more homes in its 2011 third quarter than the same quarter in 2010. Selling more houses for less helped contribute to a bigger quarterly loss. The company closed 13% more homes but brought in only 4% more in revenue than the same quarter in 2010 because the average sales price fell 7%. One reason for the decreased sales price might be that a greater portion of the sales came from its southern markets while sales in its Midwest markets fell and its Mid-Atlantic community sales were flat.

*Quarter ended Sept. 30, 2011