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Case 64 M/I Homes Inc

In: Rising Stars

Author

Listed:
  • B. Rajesh Kumar

    (Institute of Management Technology)

Abstract

M/I Homes is one of the leading builders of single-family homes in the USA. The company initiated home building activities in the year 1976. The company has sold over 143,400 homes over these years since its establishment. The operations of the company consist of homebuilding and financial services. The home building operations constituted approximately 98% of the consolidated revenues in the year 2021 and 2022, respectively. The financial services segment offers mortgage loans and title services to the customers of the home building operations. M/I Homes design, market, construct, and sell single-family homes and attached townhomes to first time, move up, empty nester and luxury buyers. The company focusses on construction of homes in planned development and mixed-use communities. M/I Homes offer homes for sale in 196 communities within 17 markets which are located in ten states in the USA. The average sales prices of homes delivered by the company in year 2022 was $479,000. The company’s financial services operation segment generates revenues basically from origination and sales of mortgages and collection of fees for title insurance and closing services. The company offers mortgage banking services to home buyers through 100% owned subsidiary, M/I Financial, LLC. By December 2022, the company employed 1663 people in home building operations. On average basis, the total revenues and net income increased by 16% and 49%, respectively during the period 2018–2022.

Suggested Citation

  • B. Rajesh Kumar, 2024. "Case 64 M/I Homes Inc," Management for Professionals, in: Rising Stars, pages 481-485, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-031-50032-9_64
    DOI: 10.1007/978-3-031-50032-9_64
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