Inventory

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

Inventory

Inventory

A summary of inventory as of December 31, 2019 and 2018 is as follows:

	December 31,
	2019		2018
Homes for sale	$	36,982	$	12,649
Homes not available for sale	3,163		2,328
Homes under improvement	34,445		7,717
Inventory	$	74,590	$	22,694

Inventory costs include direct home acquisition costs and any capitalized improvements, net of lower of cost or net realizable value write-downs applied on a specific home basis. As of December 31, 2019 and December 31, 2018, lower of cost or net realizable value write-downs were $143 and $190, respectively.

The following is the inventory activity for the year ended December 31, 2019:

Inventory as of December 31, 2018	$	22,694
Purchases and capitalized improvements to inventory	274,758
Relief of inventory to cost of revenue	(222,909		)
Lower of cost or net realizable value write-downs, net	47
Inventory as of December 31, 2019	$	74,590