U.S. Homebuilder Reports Higher Sales

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LGI Homes, a growing U.S. homebuilder, reported a 45 percent yearly increase in home sales in January, demonstrating strength in the recovering housing market. 

The Woodlands, Texas-based homebuilder sold 119 homes in January, compared to 82 homes in January 2013. Last month's sales include those from the company's pre-IPO joint ventures, according to the announcement. 

At the end of January, the company had 27 active selling communities, compared to 15 communities a year ago. 

"This is a solid start to the year," said Eric Lipar, LGI Homes chief executive. "We have made steady progress growing our community count over the past year and these communities are performing in line with our expectations."

Looking ahead, the company expects to have 36 active selling communities at the end of 2014, with a total of 2,200 homes sold during the year. LGI expects to report its 2013 year-end results in March and its 2014 first quarter results in May. 

LGI Homes operates in Texas, Arizona, Florida, Georgia and New Mexico, according to the company website.