The net book values of real estate assets consisted of the following as of June 30, 2024 and December 31, 2023 (amounts in thousands):


	June 30, 2024		December 31, 2023
Occupied single-family properties	$	9,842,364	$	9,595,421
Single-family properties leased, not yet occupied	84,070		54,481
Single-family properties in turnover process	275,217		370,856
Single-family properties recently renovated or developed	93,146		140,962
Single-family properties newly acquired and under renovation	334		3,999
Single-family properties in operation, net	10,295,131		10,165,719
Development land	519,038		563,718
Single-family properties under development	709,496		845,706
Single-family properties and land held for sale, net	201,930		182,082
Total real estate assets, net	$	11,725,595	$	11,757,225