Inventory

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Inventory

Inventory

The components of inventory were as follows:

	December 31,
	2020		2019
Properties for sale	$	17,153	$	36,982
Properties not available for sale	7,225		3,163
Properties under improvement	24,780		34,445
Inventory	$	49,158	$	74,590

Inventory costs include direct home purchase 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, 2020 and 2019, lower of cost or net realizable value write-downs were $29 and $143, respectively. During the years ended December 31, 2020 and 2019, we directly purchased $158,269 and $264,290 of homes and sold $182,906 and $214,118 in cost basis of homes, respectively.