Exhibit 99.1

Landsea Homes Reports Third Quarter 2021 Results

Third Quarter 2021 Highlights

- Increased fully diluted earnings by 130% -

- Expanded home sales gross margins by 250 basis points -

- Grew quarter-ending backlog units and dollar value by 18% and 38%, respectively -

- Increased total lots owned and controlled by 46% -

- Raised 2021 full year revenue net income outlook -

Newport Beach, Calif. – November 10, 2021 – Landsea Homes Corporation (Nasdaq: LSEA) (“Landsea Homes” or the “Company”), a publicly traded homebuilder, reported financial results for the third quarter ended September 30, 2021.

Third Quarter 2021 vs. Same Year-Ago Quarter:

Management Commentary

“Landsea Homes made progress on a number of fronts in the third quarter of 2021, as we remained on track to generate roughly one billion in homebuilding revenues for the year, greatly improved our access to capital and continued to lay the foundation for our company’s rapid expansion” said John Ho, Chief Executive Officer of Landsea Homes. “Similar to other homebuilders, we were adversely impacted by the ongoing supply chain issues during the quarter which caused delays to our scheduled deliveries and community openings. We have been working closely with our suppliers and trade partners to alleviate these issues and have made progress moving things forward since the quarter closed. As a result, we are changing our full year guidance for 2021.”

Mr. Ho continued, “Despite these construction and development headwinds, we continue to see robust demand for our homes, driven by the strong housing fundamentals in our markets, our focus on affordable price points and the appeal of our High Performance Homes, which feature the latest in new home technology, sustainability and performance. The integration of Vintage Estates has progressed nicely, and we made significant land investments in Texas and Florida to expand our newly established presence in these markets. Landsea has a solid track record of entering new markets via acquisition and scaling the local operations in a rapid fashion, and we believe the same will be true with Vintage Estates.”

Mr. Ho concluded, “With a record quarter-ending backlog, a strong fundamental outlook and a unique and differentiated product profile, Landsea Homes is poised to finish the year on a high note and carry the momentum into 2022. We believe we are in a great position to continue our rapid expansion thanks to our strategic growth initiatives and our strong capital position, which was greatly enhanced by the establishment of a new unsecured credit facility. As a result, we continue to be as optimistic as ever about the future of Landsea Homes.”

Third Quarter 2021 Financial and Operational Results

Total revenue decreased 2% to $214.1 million compared to $218.5 million in the third quarter of 2020. Excluding revenue generated from VEH, total revenue decreased 20%.

Total homes delivered decreased 12% to 380 homes at an average sales price of $550,000 compared to 433 homes delivered at an average sales price of $505,000 in the third quarter of 2020. The decline in deliveries was largely a result of the ongoing supply chain issues affecting the industry. The increase in average sales price was primarily due to price appreciation in the Arizona market and a larger number of deliveries from communities with higher-end homes.

Net new home orders were 275 homes with a dollar value of $184.9 million, an average sales price of $673,000 and a monthly absorption rate of 2.6 sales per active community. This compares to 504 homes with a dollar value of $279.1 million, an average sales price of $554,000 and a monthly absorption rate of 5.9 sales per active community in the prior year period. The decline in new home orders was largely a result of the Company’s decision to temporarily slow the pace of sales to adjust to lengthening production cycle times.

Total homes in backlog increased 18% to 1,092 homes with a dollar value of $606.2 million and an average sales price of $555,000 at September 30, 2021. This compares to 922 homes with a dollar value of $439.6 million and an average sales price of $477,000 at September 30, 2020. The increase in value and average sales price coincides with price appreciation for the net new home orders for the third quarter.

Total lots owned or controlled at September 30, 2021, increased 46% to 9,756 compared to 6,680 at December 31, 2020, primarily due to the acquisition of Vintage Homes.

Home sales gross margin increased to 16.1% from 13.6% in the prior year period. Adjusted home sales gross margin (a non-GAAP measure) increased 100 basis points to 21.4% compared to 20.4% in the prior year period. The benefit was primarily due to price appreciation and an increase in gross margins within our California segment, partially offset by higher costs.

Net income attributable to Landsea Homes increased to $10.8 million compared to $3.2 million in the prior year period. Adjusted net income attributable to Landsea Homes (a non-GAAP measure) increased to $8.3 million compared to $9.8 million in the prior year period.

Adjusted EBITDA (a non-GAAP measure) slightly declined to $19.3 million compared to $20.3 million in the prior year period. Mainly attributable to a gain on remeasurement of warrant liability of $7 million.

Liquidity

As of September 30, 2021, cash and cash equivalents was $82.4 million, a $23.4 million decrease from December 31, 2020, primarily due to an increase in real estate inventories. Total debt was $361.7 million compared to $264.8 million at December 31, 2020.

Landsea Homes’ ratio of debt to capital was 38.4% at September 30, 2021, compared to 33.3% at December 31, 2020. The Company’s net debt to net book capitalization (a non-GAAP measure) was 32.5% at September 30, 2021, compared to 22.6% at December 31, 2020.

2021 Outlook

For the full year Landsea Homes expects to report approximately $1,016 to $1,060million total revenue for 2021. Total homes delivered is now expected to be 1,671 to 1,760 at an average sales price of $540,000 to $580,000. Home sales gross margin is expected to be 16.9% to 17.8% and adjusted home sales gross margin (a non-GAAP measure) is expected to be 21.9% to 22.5%. The Company now expects to report adjusted net income attributable to Landsea Homes of approximately $62 million to $66 million in 2021.

Subsequent Events

On October 6, 2021, the Company established a $500 million unsecured revolving credit facility with an accordion feature that permits increases in borrowing capacity up to an additional $350 million, subject to certain conditions. As of the closing date of this new facility, the Company had $296m in borrowings outstanding and available borrowing capacity of approximately $204m. Including cash on hand, the Company had total liquidity of approximately $306 million.

Material Weakness

As previously disclosed, management concluded that the Company had a material weakness as of December 31, 2020 relating to the Company’s internal controls over financial reporting with respect to accounting for warrants that we are currently working to remediate. As an “emerging growth company” we are not currently required to comply with the SEC rules that implement Section 404 of the Sarbanes-Oxley Act, and are therefore not required to make a formal assessment of the effectiveness of our internal control over financial reporting for that purpose; however, in anticipation of becoming subject to the SEC rules that implement Section 404 of the Sarbanes-Oxley Act by year-end, we have been working to enhance our internal control framework and in doing so, have identified additional material weaknesses relating to an insufficient complement of resources with an appropriate level of expertise, knowledge and training and inadequate documentation of controls commensurate with the financial reporting requirements for an SEC registrant. As management continues to evaluate their internal control environment in preparation for compliance with Section 404 of the Sarbanes-Oxley requirements, additional material weaknesses may be identified.

Conference Call

The Company will hold a conference call today at 10:00 a.m. Eastern time to discuss its third quarter 2021 results.

Date: Wednesday, November 10, 2021

Time: 10:00 a.m. Eastern time (7:00 a.m. Pacific time)

Toll-free dial-in number: 1-833-672-0663

International dial-in number: 1-929-517-0343

Conference ID: 2871078

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Mackintosh Investor Relations, LLC at (310) 924-9036.

The conference call will be broadcast live and available for replay here and via the Investors section of the Landsea Homes website at https://ir.landseahomes.com/.

A replay of the conference call will be available after 1:00 p.m. Eastern time on the same day through the same time on November 17, 2021.

Toll-free replay number: 1-855-859-2056

International replay number: 1-404-537-3406

Replay ID: 2871078

About Landsea Homes

Landsea Homes Corporation (Nasdaq: LSEA) is a publicly traded residential homebuilder based in Newport Beach, CA that designs and builds best-in-class homes and sustainable master-planned communities in some of the nation’s most desirable markets. The company has developed homes and communities in New York, Boston, New Jersey, Arizona, Florida, Texas and throughout California in Silicon Valley, Los Angeles and Orange County.

An award-winning homebuilder that builds suburban, single-family detached and attached homes, mid-and high-rise properties, and master-planned communities, Landsea Homes is known for creating inspired places that reflect modern living and provides homebuyers the opportunity to “Live in Your Element.” Our homes allow people to live where they want to live, how they want to live – in a home created especially for them.

Driven by a pioneering commitment to sustainability, Landsea Homes’ High Performance Homes are responsibly designed to take advantage of the latest innovations with home automation technology supported by Apple®. Homes include features that make life easier and provide energy savings that allow for more comfortable living at a lower cost through sustainability features that contribute to healthier living for both homeowners and the planet.

Led by a veteran team of industry professionals who boast years of worldwide experience and deep local expertise, Landsea Homes is committed to positively enhancing the lives of our homebuyers, employees, and stakeholders by creating an unparalleled lifestyle experience that is unmatched.

For more information on Landsea Homes, visit: http://www.landseahomes.com/.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws, including, but not limited to, our expectations for future financial performance, business strategies or expectations for our business, including as they relate to anticipated effects of the business contamination with LF Capital Acquisition Corporation on January 7, 2021 (the “Business Combination”). These statements constitute projections, forecasts, and forward-looking statements, and are not guarantees of performance. Landsea Homes cautions that forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Words such as “may,” “can,” “should,” “will,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “target,” “look” or similar expressions may identify forward-looking statements. Specifically, forward-looking statements may include statements relating to:

These forward-looking statements are based on information available as of the date of this press release and our management’s current expectations, forecasts, and assumptions, and involve a number of judgments, risks and uncertainties that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

These risks and uncertainties include, but not are limited to, the risk factors described by Landsea Homes in its filings with the Securities and Exchange Commission (“SEC”). These risk factors and those identified elsewhere in this press release, among others, could cause actual results to differ materially from historical performance and include, but are not limited to:

Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and you should not place undue reliance on these forward-looking statements in deciding whether to invest in our securities. We do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Investor Relations Contact:

Drew Mackintosh

Mackintosh Investor Relations, LLC

drew@mackintoshir.com

(310) 924-9036

Media Contact:

Annie Noebel

Cornerstone Communications

anoebel@cornerstonecomms.com

(949) 449-2527

Landsea Homes Corporation

Consolidated Balance Sheets

Landsea Homes Corporation

Consolidated Statements of Operations

Home Deliveries and Home Sales Revenue

Net New Home Orders, Dollar Value of Orders, and Monthly Absorption Rates

Average Selling Communities

Backlog

Lots Owned or Controlled

Home Sales Gross Margins

Home sales gross margin measures the price achieved on delivered homes compared to the costs needed to build the home. In the following table, we calculate gross margins adjusting for interest in cost of sales, inventory impairments (if applicable), and purchase price accounting for acquired work in process inventory (if applicable). This non-GAAP financial measure should not be used as a substitute for the Company’s operating results in accordance with GAAP. An analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP. We believe this non-GAAP measure is meaningful because it provides insight into the impact that financing arrangements and acquisitions have on our homebuilding gross margin and allows for comparability of our gross margins to competitors that present similar information

EBITDA and Adjusted EBITDA

The following table presents EBITDA and Adjusted EBITDA for the three months ended September 30, 2021 and 2020. Adjusted EBITDA is a non-GAAP financial measure used by management in evaluating operating performance. We define Adjusted EBITDA as net income before (i) income tax expense (benefit), (ii) interest expenses, (iii) depreciation and amortization, (iv) inventory impairments, (v) purchase accounting adjustments for acquired work in process inventory related to business combinations, (vi) (gain) loss on debt extinguishment, (vii) transaction costs related to the merger and business combinations, (viii) the impact of income or loss allocations from our unconsolidated joint ventures, (ix) gain on forgiveness of PPP loan, and (x) gain (loss) on remeasurement of warrant liability. We believe Adjusted EBITDA provides an indicator of general economic performance that is not affected by fluctuations in interest, effective tax rates, levels of depreciation and amortization, and items considered to be non-recurring. The economic activity related to our unconsolidated joint ventures is not core to our operations and is the reason we have excluded those amounts. Accordingly, we believe this measure is useful for comparing our core operating performance from period to period. Our presentation of Adjusted EBITDA should not be considered as an indication that our future results will be unaffected by unusual or non-recurring items.

Adjusted Net Income

Adjusted Net Income to Landsea is a non-GAAP financial measure that we believe is useful to management, investors and other users of our financial information in evaluating our operating results and understanding our operating results without the effect of certain expenses that were historically pushed down by our parent company and other non-recurring items. We believe excluding these items provides a more comparable assessment of our financial results from period to period. Adjusted Net Income to Landsea is calculated by excluding the effects of related party interest that was pushed down by our parent company, purchase accounting adjustments for acquired work in process inventory related to business combinations, the impact from our unconsolidated joint ventures, gain on forgiveness of PPP loan, and gain (loss) on remeasurement of warrant liability, merger related transaction costs, and tax-effected using a blended statutory tax rate. The economic activity related to our unconsolidated joint ventures is not core to our operations and is the reason we have excluded those amounts. We also adjust for the expense of related party interest pushed down from our parent company as we have no obligation to repay the debt and related interest.

Net Debt to Net Capital

The following table presents the ratio of debt to capital as well as the ratio of net debt to net capital which is a non-GAAP financial measure. The ratio of debt to capital is computed as the quotient obtained by dividing total debt, net of issuance costs, by total capital (sum of total debt, net of issuance costs plus total equity).

The non-GAAP ratio of net debt to net capital is computed as the quotient obtained by dividing net debt (which is total debt, net of issuance costs less cash, cash equivalents and restricted cash to the extent necessary to reduce the debt balance to zero) by net capital (sum of net debt plus total equity). The most comparable GAAP financial measure is the ratio of debt to capital. We believe the ratio of net debt to net capital is a relevant financial measure for investors to understand the leverage employed in our operations and as an indicator of our ability to obtain financing. We believe that by deducting our cash from our debt, we provide a measure of our indebtedness that takes into account our cash liquidity. We believe this provides useful information as the ratio of debt to capital does not take into account our liquidity and we believe that the ratio of net debt to net capital provides supplemental information by which our financial position may be considered.

See table below reconciling this non-GAAP measure to the ratio of debt to capital.