Inventory

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

Inventory

Inventory

	September 30, 2019		December 31, 2018
Properties for sale	$	62,911	$	12,649
Properties not available for sale	6,653		2,328
Properties under improvement	35,896		7,717
Inventory	$	105,460	$	22,694

Inventory costs include direct property acquisition costs and any capitalized improvements, net of applicable lower of cost or net realizable value write-downs. As of September 30, 2019 and December 31, 2018, lower of cost or net realizable value write-downs were $272 and $190, respectively.

Properties not available for sale represent purchased properties that have been temporarily rented back to the previous homeowner, typically for less than 30 days. Both properties not available for sale and properties under improvement are expected to be sold in less than twelve months.

The following is the inventory activity for the nine months ended September 30, 2019:

	Nine Months Ended September 30, 2019
Inventory as of December 31, 2018	$	22,694
Purchases and additions to inventory	213,813
Relief of inventory to cost of revenue	(130,965		)
Lower of cost or net realizable value write-downs, net	(82		)
Inventory as of September 30, 2019	$	105,460