D.R. Horton, Inc. announced the acquisition of Riggins Custom Homes. The homebuilding assets of Riggins Custom Homes and related entities (Riggins) acquired include approximately 3,000 lots, 170 homes in inventory and 173 homes in sales order backlog. For the trailing twelve months ended November 30, 2022, Riggins closed 153 homes ($48 million in revenue) with an average home size of approximately 1,925 square feet and an average sales price of $313,600.

D.R. Horton expects to pay approximately $107 million in cash for the purchase, and the Company plans to combine the Riggins operations with the current D.R. Horton platform in Northwest Arkansas.