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Payables and Accruals
 9 Months Ended
Sep. 30, 2024
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Liabilities Disclosure
A summary of the Company’s accrued expenses is as follows (in thousands):
September 30, 2024December 31, 2023
Federal income tax payable(1)
$39,328 $— 
Real estate development reserve to complete(2)
35,349 26,063 
Warranty reserve29,031 23,474 
Accrued compensation21,660 14,960 
Accrued property tax payable15,944 5,003 
Other accrued expenses24,588 26,957 
Total accrued expenses$165,900 $96,457 
(1)On May 28, 2024, the Internal Revenue Service (IRS) announced tax relief for individuals and businesses in certain Texas counties that were affected by severe weather on April 26, 2024. For the affected taxpayers, the IRS extended the due date to November 1, 2024 for any estimated income tax payments due on or after April 26, 2024.
(2)The Company’s real estate development reserve to complete consists of estimated future costs to complete the development of its communities.

Warranties
Warranty accruals are included within accrued expenses on the condensed consolidated balance sheets. Warranty activity during the three and nine months ended September 30, 2024 and 2023 consisted of the following (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Warranty accrual, beginning of period$27,139 $20,824 $23,474 $17,945 
Warranties issued3,082 2,568 9,208 7,489 
Changes in liability for existing warranties264 57 515 608 
Payments made(1,454)(1,440)(4,166)(4,033)
Warranty accrual, end of period$29,031 $22,009 $29,031 $22,009