Quarterly report pursuant to Section 13 or 15(d)

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

v3.23.1
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Mar. 31, 2023
USD ($)
lot
Projected Number of Lots  
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot 0
Option contracts — non-refundable deposits, committed | lot 7,331 [1]
Purchase contracts — non-refundable deposits, committed | lot 5,881 [1]
Purchase and option contracts —refundable deposits, committed | lot 1,910
Total committed | lot 15,122
Purchase and option contracts — refundable deposits, uncommitted | lot 18,928 [2]
Total lots under contract or option | lot 34,050
Total purchase and option contracts not recorded on balance sheet | lot 34,050 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 420,173 [1]
Purchase contracts — non-refundable deposits, committed 192,681 [1]
Purchase and option contracts —refundable deposits, committed 47,370
Total committed 660,224
Purchase and option contracts — refundable deposits, uncommitted 704,227 [2]
Total lots under contract or option 1,364,451
Total purchase and option contracts not recorded on balance sheet 1,364,451 [3]
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 39,412 [1]
Purchase contracts — non-refundable deposits, committed 15,311 [1]
Purchase and option contracts —refundable deposits, committed 1,515
Total committed 56,238
Purchase and option contracts — refundable deposits, uncommitted 9,603 [2]
Total lots under contract or option 65,841
Total purchase and option contracts not recorded on balance sheet $ 65,841 [3],[4]
[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 the accompanying 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 on the accompanying unaudited consolidated balance sheets in Deposits on real estate under option or contract as of March 31, 2023.