XHB - LGI Homes: Soft August Closings Suggest Normalization In The Housing Market
The rush to buy homes, especially new homes, in the middle of a deep recession and pandemic has been truly remarkable. If the recent home closing numbers from LGI Homes Inc (LGIH) are any indication that frenzy is finally abating.
On September 3rd, LGI Homes reported August closings of 669 versus 677 a year ago. This 1.2% drop compares unfavorably to the 15.7% year-over-year increase in closings from August, 2018 to August, 2019. This drop is the second consecutive monthly year-over-year decline for LGI Homes and the fourth out of the last