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Inventory
 12 Months Ended
Dec. 31, 2023
Inventory, Real Estate [Abstract]  
Inventory Disclosure [Text Block] INVENTORY
A summary of inventory is as follows (in thousands):
December 31, 2023December 31, 2022
Homes completed or under construction$559,488 $603,953 
Land and lots - developed and under development921,241 768,194 
Land held for future development(1)
48,991 48,369 
Land held for sale3,503 2,164 
Total inventory$1,533,223 $1,422,680 
(1)Land held for future development consists of raw land parcels where development activities have been postponed due to market conditions or other factors. All applicable carrying costs, including property taxes, are expensed as incurred.

As of December 31, 2023, the Company reviewed the performance and outlook for all of its communities and land inventory for indicators of potential impairment and performed detailed impairment analysis when such indicators were identified. For the year ended December 31, 2023, the Company did not record an impairment adjustment to reduce the carrying value of communities or land inventory to fair value.

For the year ended December 31, 2022, the Company recorded a $6.0 million impairment charge to reduce the carrying value of certain land held for future development to fair value. This impairment charge was included in cost of residential units in our consolidated statements of income. For the year ended December 31, 2021, the Company did not record an impairment adjustment to reduce the carrying value of impaired communities to fair value.
A summary of interest costs incurred, capitalized and expensed is as follows (in thousands):
Years Ended December 31,
202320222021
Interest capitalized at beginning of period$22,752 $19,950 $17,520 
Interest incurred14,628 16,454 13,340 
Interest charged to cost of revenues(13,254)(13,652)(10,910)
Interest capitalized at end of period$24,126 $22,752 $19,950 
Capitalized interest as a percentage of inventory1.6 %1.6 %