Payables and Accruals (Tables)

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities

A summary of the Company’s accrued expenses is as follows (in thousands):

	December 31, 2023	December 31, 2022
Real estate development reserve to complete(1)	26,063	28,793
Warranty reserve	23,474	17,945
Accrued compensation	14,960	13,917
Accrued property tax payable	5,003	4,047
Other accrued expenses	26,957	26,579
Total accrued expenses	96,457	91,281

(1)Our real estate development reserve to complete consists of estimated payments for future costs to complete the development of our communities.

Schedule of Warranty Activity

Warranty activity, included in accrued expenses in our consolidated balance sheets, consists of the following (in thousands):

	December 31, 2023		December 31, 2022
Warranty accrual, beginning of period	$	17,945	$	9,378
Warranties issued	10,307		8,295
Changes in liability for existing warranties	433		4,559
Payments made	(5,211)		(4,287)
Warranty accrual, end of period	$	23,474	$	17,945