Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

The following reflects the disaggregation of revenue by primary geographic market, type of customer, product type, and timing of revenue recognition (in thousands):


	Years Ended December 31,
	2020				2019				2018
	Residential units revenue		Land and lots revenue		Residential units revenue		Land and lots revenue		Residential units revenue		Land and lots revenue
Primary Geographical Market
Central	$	644,976	$	43,788	$	396,900	$	31,080	$	281,868	$	40,184
Southeast	285,200		2,057		362,930		750		297,025		4,570
Total revenues	$	930,176	$	45,845	$	759,830	$	31,830	$	578,893	$	44,754

Type of Customer
Homebuyers	$	930,176	$	—	$	759,830	$	185	$	578,893	$	670
Homebuilders	—		45,845		—		31,645		—		44,084
Total revenues	$	930,176	$	45,845	$	759,830	$	31,830	$	578,893	$	44,754

Product Type
Residential units	$	930,176	$	—	$	759,830	$	—	$	578,893	$	—
Land and lots	—		45,845		—		31,830		—		44,754
Total revenues	$	930,176	$	45,845	$	759,830	$	31,830	$	578,893	$	44,754

Timing of Revenue Recognition
Transferred at a point in time	$	923,901	$	45,845	$	752,273	$	31,830	$	571,177	$	44,754
Transferred over time	6,275		—		7,557		—		7,716		—
Total revenues	$	930,176	$	45,845	$	759,830	$	31,830	$	578,893	$	44,754

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]

The aggregate amount of transaction price allocated to the remaining performance obligations on our land sale and lot option contracts is $16.7 million. The Company will recognize the remaining revenue when the lots are taken down, or upon closing for the sale of a land parcel, which is expected to occur as follows (in thousands):


2021	$	14,825
2022	1,826

Total	$	16,651

Contract with Customer, Asset and Liability [Table Text Block]

Contract Balances

Opening and closing contract balances included in customer and builder deposits on the consolidated balance sheets are as follows (in thousands):


	December 31, 2020		December 31, 2019
Customer and builder deposits	$	38,131	$	23,954

The difference between the opening and closing balances of customer and builder deposits results from the timing difference between the customer’s payment of a deposit and the Company’s performance, impacted slightly by terminations of contracts.

The amount of deposits on residential units and land and lots held as of the beginning of the period and recognized as revenue during the years ended December 31, 2020 and 2019 are as follows (in thousands):


	2020		2019
Type of Customer
Homebuyers	$	14,149	$	8,981
Homebuilders	5,929		3,417
Total deposits recognized as revenue	$	20,078	$	12,398