Annual report pursuant to Section 13 and 15(d)

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

REAL ESTATE AND CAPITALIZED INTEREST - Schedule of Real Estate (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Real Estate Properties    
Homes under contract under construction [1] $ 873,365 $ 564,762
Unsold homes, completed and under construction [1] 357,861 686,948
Model homes [1] 82,502 121,340
Finished home sites and home sites under development [2] 1,464,311 1,371,311
Real estate 2,778,039 2,744,361
Land held for sale $ 72,700 $ 36,600
[1] Includes the allocated land and land development costs associated with each lot for these homes.
[2] Includes raw land, land held for development and land held for sale. Land held for development primarily reflects land and land development costs related to land where development activity is not currently underway but is expected to begin in the future. For these parcels, we may have chosen not to currently develop certain land holdings as they typically represent a portion or phases of a larger land parcel that we plan to build out over several years. 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. (3)Includes land held for sale of $72.7 million and $36.6 million as of December 31, 2020 and 2019, respectively.