v3.24.2
Real Estate Inventories (Tables)
 6 Months Ended
Jun. 30, 2024
Inventory Disclosure [Abstract]  
Schedule of Real Estate Inventories
Real estate inventories consisted of the following (in thousands):
June 30, 2024December 31, 2023
Real estate inventories owned:
Homes completed or under construction$1,637,648 $1,402,762 
Land under development1,172,934 1,299,074 
Land held for future development155,293 153,615 
Model homes305,660 306,565 
Total real estate inventories owned3,271,535 3,162,016 
Real estate inventories not owned:
Land purchase and land option deposits194,276 175,467 
Total real estate inventories not owned194,276 175,467 
Total real estate inventories$3,465,811 $3,337,483 
Schedule of Interest Incurred, Capitalized and Expensed
Interest incurred, capitalized and expensed were as follows (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
 2024202320242023
Interest incurred$30,378 $37,394 $66,534 $74,873 
Interest capitalized(30,378)(37,394)(66,534)(74,873)
Interest expensed$— $— $— $— 
Capitalized interest in beginning inventory$226,957 $208,639 $221,647 $191,411 
Interest capitalized as a cost of inventory30,378 37,394 66,534 74,873 
Interest previously capitalized as a cost of
inventory, included in cost of sales
(39,164)(25,681)(70,010)(45,932)
Capitalized interest in ending inventory$218,171 $220,352 $218,171 $220,352 
Schedule of Real Estate Inventory Impairments and Land Option Abandonments
Real estate inventory impairments and land and lot option abandonments and pre-acquisition charges consisted of the following (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
 2024202320242023
Real estate inventory impairments$— $11,500 $— $11,500 
Land and lot option abandonments and pre-acquisition charges968 261 1,370 978 
Total$968 $11,761 $1,370 $12,478