Annual report [Section 13 and 15(d), not S-K Item 405]

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

v3.25.4
REAL ESTATE AND CAPITALIZED INTEREST - Schedule of Real Estate (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Real Estate Properties      
Finished home sites and home sites under development [1] $ 3,917,572 $ 3,353,136  
Inventory, Homes under Construction [2] 2,069,548 2,375,639  
Real estate 5,987,120 5,728,775  
Land held for sale 164,400 62,700  
Real Estate [Line Items]      
Impairment of real estate 18,118 0 $ 964
Write Offs Of Non-Refundable Deposits And Pre-Aquisitions Costs 39,382 6,702 5,309
West      
Real Estate [Line Items]      
Impairment of real estate 742 0 964
Write Offs Of Non-Refundable Deposits And Pre-Aquisitions Costs 8,599 2,478 3,336
Central      
Real Estate [Line Items]      
Impairment of real estate 7,139 0 0
Write Offs Of Non-Refundable Deposits And Pre-Aquisitions Costs 5,204 1,562 451
East      
Real Estate [Line Items]      
Impairment of real estate 10,237 0 0
Write Offs Of Non-Refundable Deposits And Pre-Aquisitions Costs 25,579 2,662 1,522
Homebuilding      
Real Estate [Line Items]      
Impairment of real estate 16,532 0 964
Homebuilding | West      
Real Estate [Line Items]      
Impairment of real estate 742 0 964
Homebuilding | Central      
Real Estate [Line Items]      
Impairment of real estate 5,697 0 0
Homebuilding | East      
Real Estate [Line Items]      
Impairment of real estate 10,093 0 0
Land      
Real Estate [Line Items]      
Impairment of real estate 1,586 0 0
Land | West      
Real Estate [Line Items]      
Impairment of real estate 0 0 0
Land | Central      
Real Estate [Line Items]      
Impairment of real estate 1,442 0 0
Land | East      
Real Estate [Line Items]      
Impairment of real estate $ 144 $ 0 $ 0
[1] Includes raw land, land held for development, land held for sale and communities in mothball status, less impairments, if any. Land held for development, land held for sale and communities in mothball status totaled $164.4 million and $62.7 million as of December 31, 2025 and 2024, respectively. We do not capitalize interest for these inactive assets, and all ongoing costs of land ownership (i.e. property taxes, homeowner association dues, etc.) are expensed as incurred.
[2] Includes the allocated land and land development costs associated with each lot for sold and unsold homes.