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
Mar. 31, 2022
Dec. 31, 2021
Real Estate Properties    
Homes under contract under construction [1] $ 1,294,680 $ 1,039,822
Unsold homes completed and under construction [1] 496,058 484,999
Model homes [1] 81,770 81,049
Finished home sites and home sites under development [2] 2,155,442 2,128,538
Real estate 4,027,950 3,734,408
Land held for sale $ 57,700 $ 62,100
[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 $57.7 million and $62.1 million as of March 31, 2022 and December 31, 2021, respectively.