Inventory (Tables)

9 Months Ended

Sep. 30, 2021

Inventory Disclosure [Abstract]

Schedule of Real Estate Inventory

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

	September 30, 2021		December 31, 2020
Homes completed or under construction	$	584,538	$	356,706
Land and lots - developed and under development	581,766		482,371
Land held for sale	3,993		5,558
Total inventory	$	1,170,297	$	844,635

Summary of Real Estate Inventory Capitalized Interest Costs

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021		2020
Interest capitalized at beginning of period	$	18,960		$	18,791		$	17,520	$	18,596
Interest incurred	3,597			2,010			9,698		7,677
Interest charged to cost of revenues	(2,797)			(2,999)			(7,458)		(8,471)
Interest capitalized at end of period	$	19,760		$	17,802		$	19,760	$	17,802
Capitalized interest as a percentage of inventory	1.7		%	2.3		%