Record-Breaking Revenue and Home Closings
Home closings revenue increased by 11.8% year-over-year to $495 million, setting a record for any first quarter in company history. Home closings increased by 10.8% to 910 units.
Strong Net New Home Orders
Net new home orders grew by 3.3% year-over-year to 1,106, a new company record.
Solid Financial Position
The company's total debt-to-capital ratio stood at only 14.5%, and net debt to total capital was 9.8%, providing flexibility to navigate market conditions.
Expansion into Houston Market
Green Brick Partners is expanding its Trophy brand into Houston, with the first community expected to open in the fall.
Strong Backlog and Ending Community Count
Ending backlog value increased by 29% sequentially to $594 million, and the community count increased by 5% year-over-year to 103.