LGI Homes, Inc. Reports March and First Quarter 2017 Home Closings

LGI Homes, Inc. (Nasdaq:LGIH) today announced 365 homes closed in March 2017, compared to 367 home closings in March 2016. In addition, the Company announced quarterly closings of 761 for the first quarter of 2017, compared to 844 home closings during the first quarter of 2016.

As of the end of March 2017, the Company had 69 active selling communities.

“Although closings for the first quarter are down year over year, sales continue to be strong and demand for homeownership remains solid,” said Eric Lipar, the Company’s Chief Executive Officer and Chairman of the Board. “Assuming that general economic conditions, including interest rates and mortgage availability, in the remainder of 2017 are similar to those in the first quarter of 2017, we believe we are on track to close more than 4,700 homes in 2017.”

About LGI Homes, Inc.

Headquartered in The Woodlands, Texas, LGI Homes, Inc. engages in the design, construction and sale of homes in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington and Tennessee. The Company has a notable legacy of more than 14 years of homebuilding operations, over which time it has closed over 16,000 homes. For more information about the Company and its new home developments, please visit the Company's website at www.LGIHomes.com. 

Forward-Looking Statements

Any statements made in this press release that are not statements of historical fact, including statements about the Company's beliefs and expectations for 2017 home closings, are forward-looking statements within the meaning of the federal securities laws, and should be evaluated as such. For more information concerning factors that could cause actual results to differ materially from those contained in the forward-looking statements please refer to the "Risk Factors" section, including, without limitation, the risk factor entitled "Cautionary Statement about Forward-Looking Statements" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed by the Company with the Securities and Exchange Commission on March 7, 2017. The Company bases these forward-looking statements on its current expectations, plans and assumptions that it has made in light of its experience in the industry, as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances and at such time. As you read and consider this press release, you should understand that these statements are not guarantees of future performance or results. The forward-looking statements are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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