Quarterly report [Sections 13 or 15(d)]

REAL ESTATE AND CAPITALIZED INTEREST - Schedule of Real Estate (Details)

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REAL ESTATE AND CAPITALIZED INTEREST - Schedule of Real Estate (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Real Estate Properties    
Homes under contract under construction [1] $ 2,454,275 $ 2,375,639
Finished home sites and home sites under development [2] 3,346,679 3,353,136
Real estate $ 5,800,954 $ 5,728,775
[1] Includes the allocated land and land development costs associated with each lot for sold and unsold homes.
[2] Includes raw land, land held for development and land held for sale, less impairments, if any. We do not capitalize interest for inactive assets, and all ongoing costs of land ownership (i.e. property taxes, homeowner association dues, etc.) are expensed as incurred.