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Inventory
 9 Months Ended
Sep. 30, 2018
Inventory Disclosure [Abstract]  
Inventory
INVENTORY

A summary of inventory is as follows (in thousands):
 
September 30, 2018
 
December 31, 2017
Completed home inventory and residential lots held for sale
$
165,107

 
$
106,043

Work in process and land under development
480,419

 
386,181

Land held for sale
2,715

 
3,830

Total inventory
$
648,241

 
$
496,054



The Company capitalizes interest costs incurred to inventory during active development and other qualifying activities. Interest capitalized as cost of inventory is charged to cost of sales as related homes, land and lots are closed.

A summary of interest costs incurred, capitalized and expensed is as follows (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Interest capitalized at beginning of period
$
12,143

 
$
9,425

 
$
10,474

 
$
9,417

Interest incurred
2,479

 
1,177

 
6,113

 
2,955

Interest charged to cost of sales
(1,114
)
 
(716
)
 
(3,079
)
 
(2,486
)
Interest capitalized at end of period
$
13,508

 
$
9,886

 
$
13,508

 
$
9,886