Quarterly report pursuant to Section 13 or 15(d)

VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)

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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Mar. 31, 2022
USD ($)
lot
Dec. 31, 2021
USD ($)
Projected Number of Lots    
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot 1  
Option contracts — non-refundable deposits, committed | lot [1] 12,549  
Purchase contracts — non-refundable deposits, committed | lot [1] 11,573  
Purchase and option contracts —refundable deposits, committed | lot 1,890  
Total committed | lot 26,013  
Purchase and option contracts — refundable deposits, uncommitted | lot [2] 25,895  
Total lots under contract or option | lot 51,908  
Total purchase and option contracts not recorded on balance sheet | lot [3] 51,907  
Purchase Price    
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 8,011 $ 8,011
Option contracts — non-refundable deposits, committed [1] 691,670  
Purchase contracts — non-refundable deposits, committed [1] 317,561  
Purchase and option contracts —refundable deposits, committed 59,854  
Total committed 1,077,096  
Purchase and option contracts — refundable deposits, uncommitted [2] 805,606  
Total lots under contract or option 1,882,702  
Total purchase and option contracts not recorded on balance sheet [3] 1,874,691  
Option/ Earnest  Money Deposits–Cash    
Purchase and option contracts recorded on balance sheet as Real estate not owned 801  
Option contracts — non-refundable deposits, committed [1] 60,730  
Purchase contracts — non-refundable deposits, committed [1] 23,346  
Purchase and option contracts —refundable deposits, committed 1,490  
Total committed 86,367  
Purchase and option contracts — refundable deposits, uncommitted [2] 7,866  
Total lots under contract or option 94,233  
Total purchase and option contracts not recorded on balance sheet [3],[4] $ 93,432  
[1] Deposits are non-refundable except if certain contractual conditions are not performed by the selling party.
[2] Deposits are refundable at our sole discretion. We have not completed our acquisition evaluation process and we have not internally committed to purchase these lots.
[3] Except for our specific performance contracts recorded on our unaudited consolidated balance sheets as Real estate not owned (if any), none of our purchase or option contracts require us to purchase lots.
[4] Amount is reflected in our unaudited consolidated balance sheets in Deposits on real estate under option or contract as of March 31, 2022.