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, 2024
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 10,445 [1]
Purchase contracts — non-refundable deposits, committed | lot 20,158 [1]
Purchase and option contracts —refundable deposits, committed | lot 1,675
Total committed | lot 32,278
Purchase and option contracts — refundable deposits, uncommitted | lot 33,494 [2]
Total lots under contract or option | lot 65,772
Total purchase and option contracts not recorded on balance sheet (3) | lot 65,772
Purchase Price (unaudited)  
Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 749,345 [1]
Purchase contracts — non-refundable deposits, committed 543,683 [1]
Purchase and option contracts —refundable deposits, committed 88,783
Total committed 1,381,811
Purchase and option contracts — refundable deposits, uncommitted 1,689,372 [2]
Total lots under contract or option 3,071,183
Total purchase and option contracts not recorded on balance sheet (3) 3,071,183
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 95,651 [1]
Purchase contracts — non-refundable deposits, committed 79,129 [1]
Purchase and option contracts —refundable deposits, committed 2,000
Total committed 176,780
Purchase and option contracts — refundable deposits, uncommitted 15,625 [2]
Total lots under contract or option 192,405
Total purchase and option contracts not recorded on balance sheet (3) $ 192,405 [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, 2024.