Quarterly report pursuant to Section 13 or 15(d)

REAL ESTATE AND CAPITALIZED INTEREST - Summary of Capitalized Interest (Details)

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REAL ESTATE AND CAPITALIZED INTEREST - Summary of Capitalized Interest (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Summary of capitalized interest        
Capitalized interest, beginning of period $ 64,682 $ 58,870 $ 61,202 $ 54,060
Interest incurred 17,372 17,857 52,644 49,665
Interest expensed (167) (4,187) (5,127) (11,962)
Interest amortized to cost of home and land closings (14,256) (11,144) (41,088) (30,367)
Capitalized interest, end of period [1] 67,631 $ 61,396 67,631 $ 61,396
Equity-method land ventures [Member]        
Summary of capitalized interest        
Capitalized interest, beginning of period     445  
Capitalized interest, end of period $ 383   $ 383  
[1] Approximately $383,000 and $445,000 of the capitalized interest is related to our joint venture investments and is a component of Investments in unconsolidated entities on our consolidated balance sheet as of September 30, 2016 and December 31, 2015, respectively.