Annual report pursuant to Section 13 and 15(d)

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

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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Dec. 31, 2021
USD ($)
lot
Dec. 31, 2020
USD ($)
Projected Number of Lots (unaudited)    
Purchase and option contracts recorded on balance sheet as Real estate not owned (1) | lot 1  
Option contracts — non-refundable deposits, committed | lot [1] 11,983  
Purchase contracts — non-refundable deposits, committed | lot [1] 12,963  
Purchase and option contracts —refundable deposits, committed | lot 1,548  
Total committed | lot 26,495  
Purchase and option contracts — refundable deposits, uncommitted | lot [2] 25,534  
Total lots under contract or option | lot 52,029  
Total purchase and option contracts not recorded on balance sheet (4) | lot 52,028  
Purchase Price (unaudited)    
Real estate not owned $ 8,011 $ 0
Option contracts — non-refundable deposits, committed [1] 653,847  
Purchase contracts — non-refundable deposits, committed [1] 330,696  
Purchase and option contracts —refundable deposits, committed 42,650  
Total committed 1,035,204  
Purchase and option contracts — refundable deposits, uncommitted [2] 775,276  
Total lots under contract or option 1,810,480  
Total purchase and option contracts not recorded on balance sheet (4) 1,802,469  
Option/ Earnest  Money Deposits–Cash    
Purchase and option contracts recorded on balance sheet as Real estate not owned (1) 801  
Option contracts — non-refundable deposits, committed [1] 55,400  
Purchase contracts — non-refundable deposits, committed [1] 25,888  
Purchase and option contracts —refundable deposits, committed 596  
Total committed 82,685  
Purchase and option contracts — refundable deposits, uncommitted [2] 8,795  
Total lots under contract or option 91,480  
Total purchase and option contracts not recorded on balance sheet (4) [3] $ 90,679  
[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.(4)Except for our specific performance contracts recorded on our balance sheet as Real estate not owned (if any), none of our purchase or option contracts require us to purchase lots.
[3] Amount is reflected in our consolidated balance sheets in the line item “Deposits on real estate under option or contract” as of December 31, 2021.