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United Homes Group, Inc. (the "Company") (NASDAQ:UHG) today announced preliminary operational unit statistics for the three and nine months ended September 30, 2025.
The following table provides a summary of the Company's net new orders, home starts, and home closings:
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||
| 2025 | 2024 | % Change | 2025 | 2024 | % Change | ||||||||
| Net new orders | 324 | 341 | (5.0 | )% | 924 | 1,048 | (11.8 | )% | |||||
| Starts | 526 | 317 | 65.9 | % | 1,131 | 940 | 20.3 | % | |||||
| Closings | 262 | 369 | (29.0 | )% | 817 | 1,017 | (19.7 | )% | |||||
The following table provides a summary of the Company's backlog, speculative home, and model home inventory:
| As of September 30, 2025 | As of September 30, 2024 | ||||||||||||||
| Backlog1 | Spec homes | Model homes | Total | Backlog1 | Spec homes | Model homes | Total | ||||||||
| Not yet started | 29 | — | — | 29 | 29 | — | — | 29 | |||||||
| Homes under construction | 90 | 268 | 15 | 373 | 63 | 225 | 6 | 294 | |||||||
| Finished homes | 145 | 145 | 31 | 321 | 128 | 198 | 32 | 358 | |||||||
| Total | 264 | 413 | 46 | 723 | 220 | 423 | 38 | 681 | |||||||
| % Change Period-over-Period | |||||||||||
| Backlog1 | Spec homes | Model homes | Total | ||||||||
| Not yet started | — | % | NM2 | NM2 | — | % | |||||
| Homes under construction | 42.9 | % | 19.1 | % | 150.0 | % | 26.9 | % | |||
| Finished homes | 13.3 | % | (26.8 | )% | (3.1 | )% | (10.3 | )% | |||
| Total | 20.0 | % | (2.4 | )% | 21.1 | % | 6.2 | % | |||
| 1 | Backlog inventory consists of homes that are under a sales contract but have not closed. Backlog may be impacted by customer cancellations. | |
| 2 | NM - Not Meaningful |
"Net new orders declined 5% year-over-year in the third quarter primarily reflecting weaker demand in July, which improved sequentially in August and September," stated Chief Executive Officer Jack Micenko.
"Elevated new home inventory levels continue to drive competition for new sales activity across our markets, and as a result we are not immune to the industry-wide pressures affecting other homebuilders," added Mr. Micenko. "We expect that these competitive dynamics are likely to weigh on the gross margin improvement we have seen as a result of our recent product refresh efforts."
"In addition to weaker demand, sales were impacted by delayed community openings earlier in the year," shared Chief Financial Officer Keith Feldman. "However, we have begun to see an increase in community count in the latter half of 2025, reaching 56 as of September 30, 2025, and we expect to see continued community count growth through the end of 2025. This expansion has contributed to the 66% increase in starts year-over-year, with approximately a third of these starts still in permitting."
Posted In: UHG
