United Homes Group grew net new orders and closings in 2024, according to the home builder’s preliminary operational unit statistics for the fourth quarter and fiscal year, ended Dec. 31.
For the full fiscal year, net new orders increased 7.9% compared to 2023 to 1,399 while closings increased 3.5% to 1,431. In the fourth quarter, net new orders increased 19.4% year-over-year to 351 while closings increased 7.0% to 414.
Starts for United Homes Group decreased 26.5% year-over-year to 222 in the fourth quarter and declined 7.5% for the full fiscal year to 1,154 in 2024 compared to 1,248 in 2023.
“During the fourth quarter, we saw continued growth in net new orders and closings. Our net new orders were up 19.4% year-over-year due to a concerted effort to move completed inventory,” said interim CEO Jamie Pirrello. “Our focus is on selling homes before they are completed, reducing inventory holding costs, and improving inventory turns.”
United Homes Group president Jack Micenko said the decrease in starts is reflective of a strategic initiative to introduce “redesigned house plans that are more competitive and more aligned with current consumer needs and desires.”
“We slowed starts in the fourth quarter while we finalized our plan refresh. We have over 20 redesigned home plans that were moved into permitting on Nov. 1, with construction starting in December,” Micenko said. “This is the first redesign effort in many years, and we are excited by the market’s initial reaction.”
United Homes Group ended the 2024 fiscal year with 157 total backlog inventory units and 338 total spec inventory units, down from 189 and 483, respectively, to end fiscal 2023.
“We expect 2025 to be a transformational year for United Homes Group as we take full advantage of the strong market dynamics in South Carolina, North Carolina, and Georgia, with continued employment growth, significant in-migration, and some of the most affordable home prices in some of the most desirable markets in the country,” Pirrello said.
