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Inventory
 12 Months Ended
Dec. 31, 2024
Inventory, Real Estate [Abstract]  
Inventory Disclosure [Text Block] INVENTORY
A summary of inventory is as follows (in thousands):
December 31, 2024December 31, 2023
Land and lots - developed and under development$1,234,532 $921,241 
Homes completed or under construction678,198 559,488 
Land held for future development(1)
14,481 48,991 
Land held for sale10,521 3,503 
Total inventory$1,937,732 $1,533,223 
(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, 2024, 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. During the year ended December 31, 2024, the Company recorded $3.7 million of impairments to reduce the
carrying value of the respective inventory to fair value. This impairment charge was included in cost of revenues in our consolidated statements of income.

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.

A summary of interest costs incurred, capitalized and expensed is as follows (in thousands):
Years Ended December 31,
202420232022
Interest capitalized at beginning of period$24,126 $22,752 $19,950 
Interest incurred13,910 14,628 16,454 
Interest charged to cost of revenues(11,416)(13,254)(13,652)
Interest capitalized at end of period$26,620 $24,126 $22,752 
Capitalized interest as a percentage of inventory1.4 %1.6 %1.6 %