Quarterly report pursuant to Section 13 or 15(d)

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

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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED (Tables)
 6 Months Ended
Jun. 30, 2024
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 June 30, 2024 (dollars in thousands): 
Projected Number
of Lots
 Purchase
Price		 Option/
Earnest  Money
Deposits–Cash
Purchase and option contracts recorded on balance sheet as Real estate not owned —  $ —  $ — 
Option contracts — non-refundable deposits, committed (1)
7,555  517,409  72,992 
Purchase contracts — non-refundable deposits, committed (1)
15,491  430,972  62,535 
Purchase and option contracts —refundable deposits, committed 1,078  42,934  3,365 
Total committed 24,124  991,315  138,892 
Purchase and option contracts — refundable deposits, uncommitted (2)
41,752  1,875,539  17,806 
Total lots under contract or option 65,876  $ 2,866,854  $ 156,698 
Total purchase and option contracts not recorded on balance sheet (3)
65,876  $ 2,866,854  $ 156,698  (4)
 
(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, 2024.