LGI Homes, Inc. (Nasdaq:LGIH) today announced 596 homes closed in August 2017, up from 383 home closings in August 2016, representing year-over-year growth of 55.6%. The Company ended the first eight months of 2017 with 3,459 home closings, a 30.0% increase over 2,661 home closings during the first eight months of 2016.
As of the end of August 2017, the Company had 76 active selling communities.
LGI also reported that damage to its communities from Hurricane Harvey has been minimal and, most importantly, all of its employees are safe.
LGI’s operations span across 14 locations throughout the Greater Houston Area comprised of over 500 homes completed or under construction. “Approximately twenty-five homes were impacted from weather related to Hurricane Harvey,” said Eric Lipar, the chairman and CEO. “We expect damages related to these homes to total less than $100,000. All of the Company’s active selling communities are fully operational and we do not anticipate further interruptions in our business as a result of this storm.”
Lipar concluded, “Our thoughts go out to all those affected by Hurricane Harvey during this difficult time. We continue to keep the people of Houston and Southeast Texas in our thoughts and prayers and are committed to supporting relief efforts throughout our region in the aftermath of Hurricane Harvey.”
