Quarterly report [Sections 13 or 15(d)]

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

v3.25.2
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
lot
Projected Number of Lots  
Option contracts — non-refundable deposits, committed | lot 12,431 [1]
Purchase contracts — non-refundable deposits, committed | lot 14,269 [1]
Purchase and option contracts —refundable deposits, committed | lot 1,217
Total committed | lot 27,917
Purchase and option contracts — refundable deposits, uncommitted | lot 26,152 [2]
Total lots under contract or option | lot 54,069
Total purchase and option contracts not recorded on balance sheet | lot 54,069 [3]
Purchase Price  
Option contracts — non-refundable deposits, committed $ 937,173 [1]
Purchase contracts — non-refundable deposits, committed 522,532 [1]
Purchase and option contracts —refundable deposits, committed 19,073
Total committed 1,478,778
Purchase and option contracts — refundable deposits, uncommitted 1,264,070 [2]
Total lots under contract or option 2,742,848
Total purchase and option contracts not recorded on balance sheet 2,742,848 [3]
Option/ Earnest  Money Deposits–Cash  
Option contracts — non-refundable deposits, committed 139,762 [1]
Purchase contracts — non-refundable deposits, committed 67,587 [1]
Purchase and option contracts —refundable deposits, committed 1,839
Total committed 209,188
Purchase and option contracts — refundable deposits, uncommitted 12,171 [2]
Total lots under contract or option 221,359
Total purchase and option contracts not recorded on balance sheet $ 221,359 [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 June 30, 2025.