Inventory

6 Months Ended

Jun. 30, 2019

INVENTORY

A summary of inventory is as follows (in thousands):



	June 30, 2019		December 31, 2018
Homes completed or under construction	$	303,924	$	268,763
Land and lots - developed and under development	415,561		399,809
Land held for sale	393		389
Total inventory	$	719,878	$	668,961

A summary of interest costs incurred, capitalized and expensed is as follows (in thousands):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Interest capitalized at beginning of period	$	16,526		$	11,221		$	14,780		$	10,474
Interest incurred	3,128			2,006			6,014			3,634
Interest charged to cost of revenues	(2,455		)	(1,084		)	(3,595		)	(1,965		)
Interest capitalized at end of period	$	17,199		$	12,143		$	17,199		$	12,143

As of June 30, 2019, the Company reviewed the performance and outlook for all of its communities for indicators of potential impairment and performed detailed impairment evaluation and analyses when necessary. As of June 30, 2019, the Company performed detailed impairment evaluations of selling communities with a combined corresponding carrying value of approximately $14.7 million. An impairment adjustment of $0.1 million to reduce the carrying value of impaired communities to fair value was recorded for the three and six months ended June 30, 2019.

The Company recorded an impairment adjustment of $0.1 million related to inventory for the three and six months ended June 30, 2018.