Against persistent consumer confidence and mortgage rate headwinds, Green Brick Partners achieved delivery and order volumes consistent with prior-year first quarters. Deliveries marginally declined to 908 from 910 in the first quarter of 2025 while net new-home orders declined to 1,037 from 1,106.
“The new-home market remains challenging as mortgage rates increased during the quarter and consumer confidence remains challenged for many of our consumers,” CEO and co-founder Jim Brickman said. “We achieved strong results in Q1 despite these continuing headwinds, which we believe is a testament to our disciplined approach to managing incentives and price to maintain sales pace.”
The monthly sales pace for Green Brick Partners declined slightly to 3.4 in the first quarter from 3.5 in the prior year period. Additionally, the average sales price declined by 6.9% in the first quarter to $493,400. The company generated $448 million in home closing revenue, down from $484.5 million in the prior year period.
The builder ended the period with 649 backlog units and 2,119 units under construction, down from 864 backlog units and 2,296 units under construction in the first quarter of 2025. The builder started 979 homes in the period, a 13% increase from the same period in 2025. Green Brick Partners ended the quarter with 48,734 lots, of which 77.4% were owned.
In the first quarter, Green Brick Partners achieved profit of $60.9 million, or $1.39 per share, compared to $75.1 million, or $1.67 per share, in the first quarter of 2025.
The first quarter also marked a milestone for Green Brick Partners, with the builder achieving its first sales in the Houston market. Green Brick Partners first announced plans to expand into the Houston market in late 2019, but those efforts were paused due to the COVID-19 pandemic. The company resumed expansion efforts in 2023.
