For the period ended Sept. 30, United Homes Group reported a 5% decline in net new orders to 324 and a 29% decline in closings to 262. CEO Jack Micenko said the decline in orders primarily reflects weaker demand in July, which improved sequentially in August and September.
Orders and closings also declined in the first nine months of 2025 compared to the same period in 2024. The builder increased starts by 65.9% to 526 in the third quarter.
“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,” Micenko said. “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.”
United Homes Group ended the third quarter with 264 homes in backlog and 413 spec homes, compared to 220 homes in backlog and 423 spec homes after the third quarter of 2024.
What they said
“In addition to weaker demand, sales were impacted by delayed community openings earlier in the year,” chief financial officer Keith Feldman said. “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.”
Columbia, South Carolina-based United Homes Group ranked 51st on the 2025 Builder 100 list with 1,431 closings in 2024.
The preliminary quarterly results are the second financial report for United Homes Group since the company’s board of directors appointed a special committee and initiated a review of strategic alternatives to maximize shareholder value. In May, the company announced a review would include a range of potential alternatives, including a sale. At that time, Micenko was appointed as the builder’s third CEO since going public in 2023.
