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Highlights
- UHG’s new net orders were down 5% year-over-year amid softer July demand.
- Home starts increased 66% compared to the same quarter in 2024.
- Total inventory rose 6.2% year-over-year to 723 homes.
United Homes Group, Inc. (NASDAQ:UHG) announced preliminary unit statistics for the three and nine months ended September 30, 2025. The company reported a decline in net new orders and closings but a significant rise in housing starts compared to the prior-year period.
For the three months ended September 30, 2025, net new orders totaled 324, compared with 341 in 2024, representing a 5.0% decrease. Home starts increased 65.9%, rising to 526 from 317 a year earlier. Home closings were 262, down 29.0% year-over-year.
For the nine months ended September 30, 2025, net new orders declined 11.8% to 924 from 1,048 in the prior-year period. Starts rose 20.3% to 1,131, while closings fell 19.7% to 817.
Inventory and Backlog Details
As of September 30, 2025, the company reported a total of 723 homes in inventory, representing a 6.2% increase from 681 homes as of September 30, 2024.
The backlog, which includes homes under contract but not yet closed, totaled 264 homes, up 20.0% from 220 homes in the prior year. Homes under construction increased 26.9% year-over-year, while finished homes declined 10.3%.
Among homes under construction, speculative units rose 19.1%, and model homes increased 21.1%.
Management Commentary
“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,” said 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.”
About United Homes Group, Inc.
United Homes Group, Inc. is a publicly traded residential builder headquartered near Columbia, South Carolina. The company operates primarily in the southeastern U.S., with communities in South Carolina, North Carolina, and Georgia. It primarily builds detached single-family houses and, to a lesser extent, duplexes and townhomes.
