INVENTORY

A summary of inventory is as follows (in thousands):



	March 31, 2019		December 31, 2018
Homes completed or under construction	$	278,593	$	268,763
Land and lots - developed and under development	411,833		399,809
Land held for sale	391		389
Total inventory	$	690,817	$	668,961

A summary of interest costs incurred, capitalized and expensed is as follows (in thousands):



	Three Months Ended March 31,
	2019			2018
Interest capitalized at beginning of period	$	14,780		$	10,474
Interest incurred	2,886			1,628
Interest charged to cost of revenues	(1,140		)	(881		)
Interest capitalized at end of period	$	16,526		$	11,221

As of March 31, 2019, the Company noted indicators of impairment for 11 selling communities with 259 homesites and a corresponding carrying value of approximately $66.7 million. Following an impairment analysis, no impairment adjustments related to real estate inventory were recorded for the three months ended March 31, 2019.

The Company did not note any indicators of impairment for any projects, and no impairment adjustments related to real estate inventory were recorded for the three months ended March 31, 2018.