M/I Homes, Inc. is an American homebuilder engaged in the construction and development of residential properties. The company's business model centers on acquiring undeveloped land, developing it into residential lots, and constructing single-family homes and attached townhomes for sale. M/I Homes targets a diverse demographic of buyers, including first-time, move-up, multi-generational, empty-nester, and luxury homebuyers.
The company operates through three primary business segments: Northern Homebuilding, Southern Homebuilding, and Financial Services. The homebuilding segments are the primary revenue drivers, accounting for over 95% of total revenues. The Southern Homebuilding segment, which includes markets in Florida, Texas, North Carolina, and Tennessee, typically generates the largest share of revenue. The Northern Homebuilding segment covers markets in Ohio, Indiana, Illinois, Minnesota, and Michigan.
In addition to its core construction activities, M/I Homes operates a Financial Services segment that supports its homebuilding operations. This segment originates and sells mortgages and serves as a title insurance agent, providing title policies, examination, and closing services to its homebuyers. By integrating financial services, the company streamlines the purchasing process for its customers and captures additional revenue streams.
