Annual report pursuant to Section 13 and 15(d)

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

v3.22.4
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Dec. 31, 2022
USD ($)
lot
Dec. 31, 2021
USD ($)
Projected Number of Lots (unaudited)    
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot 0  
Option contracts — non-refundable deposits, committed | lot [1] 9,188  
Purchase contracts — non-refundable deposits, committed | lot [1] 6,016  
Purchase and option contracts —refundable deposits, committed | lot 1,661  
Total committed | lot 16,865  
Purchase and option contracts — refundable deposits, uncommitted | lot [2] 19,474  
Total lots under contract or option | lot 36,339  
Total purchase and option contracts not recorded on balance sheet (3) | lot 36,339  
Purchase Price (unaudited)    
Real estate not owned $ 0 $ 8,011
Option contracts — non-refundable deposits, committed [1] 528,836  
Purchase contracts — non-refundable deposits, committed [1] 174,209  
Purchase and option contracts —refundable deposits, committed 35,429  
Total committed 738,474  
Purchase and option contracts — refundable deposits, uncommitted [2] 675,347  
Total lots under contract or option 1,413,821  
Total purchase and option contracts not recorded on balance sheet (3) 1,413,821  
Option/ Earnest  Money Deposits–Cash    
Purchase and option contracts recorded on balance sheet as Real estate not owned 0  
Option contracts — non-refundable deposits, committed [1] 53,550  
Purchase contracts — non-refundable deposits, committed [1] 12,444  
Purchase and option contracts —refundable deposits, committed 1,050  
Total committed 67,044  
Purchase and option contracts — refundable deposits, uncommitted [2] 9,685  
Total lots under contract or option 76,729  
Total purchase and option contracts not recorded on balance sheet (3) [3] $ 76,729  
[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 balance sheet as Real estate not owned (if any), none of our purchase or option contracts require us to purchase lots.
[3] Amount is reflected in our consolidated balance sheets in the line item “Deposits on real estate under option or contract” as of December 31, 2022.