Improvement in Gross Margin
Home sales gross margin for the quarter was 18.9%, representing a 100 basis point improvement over the second quarter of 2024. Adjusted gross margin also increased from 20.9% to 21.3% compared to the prior year period.
Successful Product Refresh Initiative
The refreshed product has boosted sales pace and profitability with gross margins on refreshed homes trending approximately 300 basis points higher than legacy products.
Affordability Focus
The average sales price of homes was $349,000, significantly lower than the national average, supporting affordability for buyers.
Strategic Growth in New Communities
New communities are expected to become available in the second half of the year, which should provide a boost to sales efforts later in the year.
Controlled Lots for Future Growth
The company controls approximately 7,300 lots, positioning it for future growth and market opportunities.