Quarterly report [Sections 13 or 15(d)]

VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED (Tables)

v3.26.1
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED (Tables)
 3 Months Ended
Mar. 31, 2026
Variable Interest Entities and Consolidated Real Estate Not Owned [Abstract]  
Summary of Lots Under Option
The table below presents a summary of our lots under option at March 31, 2026 (dollars in thousands): 
Projected Number
of Lots
 Purchase
Price		 Option/
Earnest  Money
Deposits–Cash
Purchase and option contracts — committed 19,740  $ 3,739,750  $ 159,149 
Purchase and option contracts — uncommitted (1)
14,628  1,014,956  7,087 
Total purchase and option contracts (2)
34,368  4,754,706  166,236  (3)
Purchase contracts recorded on balance sheet as Real estate (2)
3,161  $ 65,159  $ —  (4)
 
(1)We have not completed our acquisition evaluation process and we have not internally committed to purchase these lots.
(2)None of our purchase or option contracts require us to purchase lots, except for our specific performance contracts. The purchase price for specific performance contracts are recorded on the accompanying unaudited consolidated balance sheets as Real estate. See Note 2 for details of the Real estate balance.
(3)Amount is reflected on the accompanying unaudited consolidated balance sheets in Deposits on real estate under option or contract as of March 31, 2026.
(4)Deposits for specific performance contracts are recorded on the accompanying unaudited consolidated balance sheets as Real estate.