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Payables and Accruals
 6 Months Ended
Jun. 30, 2025
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Liabilities Disclosure
A summary of the Company’s accrued expenses is as follows (in thousands):
June 30, 2025December 31, 2024
Real estate development reserve to complete(1)
$24,585 $31,043 
Warranty reserve18,196 17,373 
Accrued compensation16,537 20,309 
Accrued property tax payable10,235 10,973 
Federal income tax payable5,284 3,749 
Other accrued expenses27,795 26,621 
Total accrued expenses$102,632 $110,068 
(1)Our real estate development reserve to complete consists of budgeted costs to complete the development of our communities.

Warranties
Warranty accruals are included within accrued expenses on the condensed consolidated balance sheets. Warranty activity during the three and six months ended June 30, 2025 and 2024 consisted of the following (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Warranty accrual, beginning of period$17,635 $25,116 $17,373 $23,474 
Warranties issued1,889 3,373 3,545 6,126 
Changes in liability for existing warranties(4)53 (293)251 
Payments made(1,324)(1,403)(2,429)(2,712)
Warranty accrual, end of period$18,196 $27,139 $18,196 $27,139