Annual report pursuant to Section 13 and 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
Dec. 31, 2023
USD ($)
lot
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 7,116 [1]
Purchase contracts — non-refundable deposits, committed | lot 9,047 [1]
Purchase and option contracts —refundable deposits, committed | lot 1,856
Total committed | lot 18,019
Purchase and option contracts — refundable deposits, uncommitted | lot 28,015 [2]
Total lots under contract or option | lot 46,034
Total purchase and option contracts not recorded on balance sheet (3) | lot 46,034
Purchase Price (unaudited)  
Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 508,943 [1]
Purchase contracts — non-refundable deposits, committed 324,112 [1]
Purchase and option contracts —refundable deposits, committed 81,058
Total committed 914,113
Purchase and option contracts — refundable deposits, uncommitted 871,661 [2]
Total lots under contract or option 1,785,774
Total purchase and option contracts not recorded on balance sheet (3) 1,785,774
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 51,032 [1]
Purchase contracts — non-refundable deposits, committed 45,107 [1]
Purchase and option contracts —refundable deposits, committed 1,645
Total committed 97,784
Purchase and option contracts — refundable deposits, uncommitted 13,580 [2]
Total lots under contract or option 111,364
Total purchase and option contracts not recorded on balance sheet (3) $ 111,364 [3]
[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 Deposits on real estate under option or contract as of December 31, 2023.