Quarterly report [Sections 13 or 15(d)]

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

v3.25.1
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Mar. 31, 2025
USD ($)
lot
Projected Number of Lots  
Option contracts — non-refundable deposits, committed | lot 11,934 [1]
Purchase contracts — non-refundable deposits, committed | lot 19,123 [1]
Purchase and option contracts —refundable deposits, committed | lot 643
Total committed | lot 31,700
Purchase and option contracts — refundable deposits, uncommitted | lot 29,639 [2]
Total lots under contract or option | lot 61,339
Total purchase and option contracts not recorded on balance sheet | lot 61,339 [3]
Purchase Price  
Option contracts — non-refundable deposits, committed $ 719,750 [1]
Purchase contracts — non-refundable deposits, committed 513,731 [1]
Purchase and option contracts —refundable deposits, committed 30,210
Total committed 1,263,691
Purchase and option contracts — refundable deposits, uncommitted 1,484,737 [2]
Total lots under contract or option 2,748,428
Total purchase and option contracts not recorded on balance sheet 2,748,428 [3]
Option/ Earnest  Money Deposits–Cash  
Option contracts — non-refundable deposits, committed 153,672 [1]
Purchase contracts — non-refundable deposits, committed 86,273 [1]
Purchase and option contracts —refundable deposits, committed 1,100
Total committed 241,045
Purchase and option contracts — refundable deposits, uncommitted 13,501 [2]
Total lots under contract or option 254,546
Total purchase and option contracts not recorded on balance sheet $ 254,546 [3],[4]
Land Under Purchase Contracts And Options, Recorded, Number Of Lots | lot 0
Land Under Purchase Contracts And Options, Recorded $ 0
Land Under Purchase Contracts And Options, Recorded, Cash Deposits $ 0
[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, 2025.