Inventory (Tables)

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Schedule of Real Estate Inventory

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

	September 30, 2022		December 31, 2021
Homes completed or under construction	$	674,916	$	544,258
Land and lots - developed and under development	769,640		620,129
Land held for sale	8,500		39,356
Total inventory	$	1,453,056	$	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 September 30,						Nine Months Ended September 30,
	2022			2021			2022		2021
Interest capitalized at beginning of period	$	20,420		$	18,960		$	19,950	$	17,520
Interest incurred	4,206			3,597			11,985		9,698
Interest charged to cost of revenues	(3,183)			(2,797)			(10,492)		(7,458)
Interest capitalized at end of period	$	21,443		$	19,760		$	21,443	$	19,760
Capitalized interest as a percentage of inventory	1.5		%	1.7		%