LGI Homes (LGIH) stock is soaring 5.05% during intraday trading on Friday, outperforming the broader market. The significant uptick comes as the company announced the launch of a new community in a rapidly expanding Florida region, signaling strong growth prospects for the homebuilder.

The stock's surge appears to be driven by LGI Homes' announcement of Peach Crossings, a brand-new 52-lot community in Winter Haven, Florida. This expansion marks a strategic move for the company, tapping into one of Florida's most desirable and fastest-growing areas. The new development, situated in Polk County between Orlando and Tampa, offers five newly designed floor plans, demonstrating LGI Homes' commitment to innovation and meeting evolving buyer needs.

Peach Crossings showcases LGI Homes' ability to capitalize on prime locations and deliver attractive offerings to potential homebuyers. The community features homes equipped with the company's CompleteHome™ package, including modern amenities and smart home technology. With prices starting from $333,900 for a three-bedroom home, LGI Homes is positioning itself to capture demand in various market segments. This expansion, part of LGI Homes' growing presence in Polk County, could signal strong future revenue potential, likely contributing to investor optimism and today's stock price increase.