Quarterly report pursuant to Section 13 or 15(d)

REAL ESTATE AND CAPITALIZED INTEREST - Schedule of Real Estate (Details)

REAL ESTATE AND CAPITALIZED INTEREST - Schedule of Real Estate (Details) - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Real Estate Properties    
Homes under contract under construction [1] $ 1,142,724 $ 873,365
Unsold homes completed and under construction [1] 397,422 357,861
Model homes [1] 75,239 82,502
Finished home sites and home sites under development [2] 1,977,622 1,464,311
Real estate 3,593,007 2,778,039
Land held for sale [3] $ 47,800 $ 72,700
[1] Includes the allocated land and land development costs associated with each lot for these homes.
[2] Includes raw land, land held for development and land held for sale, less impairments, if any. Land held for development primarily represents land and land development costs related to land where development activity is not currently underway but is expected to begin in the future. For these parcels, we have chosen not to currently develop certain land holdings as they typically represent a portion or phases of a larger land parcel that we plan to build out over several years. We do not capitalize interest for inactive assets, and all ongoing costs of land ownership (i.e. property taxes, homeowner association dues, etc.) are expensed as incurred.
[3] Includes land held for sale of $47.8 million and $72.7 million as of September 30, 2021 and December 31, 2020, respectively