Inventory (Tables)

3 Months Ended

Mar. 31, 2022

Inventory Disclosure [Abstract]

Schedule of Real Estate Inventory

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

	March 31, 2022		December 31, 2021
Homes completed or under construction	$	601,504	$	544,258
Land and lots - developed and under development	718,411		620,129
Land held for sale	7,594		39,356
Total inventory	$	1,327,509	$	1,203,743

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 March 31,
	2022			2021
Interest capitalized at beginning of period	$	19,950		$	17,520
Interest incurred	3,734			2,851
Interest charged to cost of revenues	(2,933)			(1,991)
Interest capitalized at end of period	$	20,751		$	18,380
Capitalized interest as a percentage of inventory	1.6		%	2.0		%