Real Estate Inventories (Tables)

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

Summary of Real Estate Inventories

Real estate inventories consisted of the following (in thousands):

	December 31, 2019		December 31, 2018
Real estate inventories owned:
Homes completed or under construction	$	951,974	$	959,911
Land under development	1,641,354		1,743,537
Land held for future development	122,847		201,874
Model homes	275,204		238,828
Total real estate inventories owned	2,991,379		3,144,150
Real estate inventories not owned:
Land purchase and land option deposits	74,057		71,909
Total real estate inventories not owned	74,057		71,909
Total real estate inventories	$	3,065,436	$	3,216,059

Summary of Interest Incurred, Capitalized and Expensed

Interest incurred, capitalized and expensed were as follows (in thousands):

	Year Ended December 31,
	2019			2018			2017
Interest incurred	$	89,691		$	91,631		$	84,264
Interest capitalized	(89,691		)	(91,631		)	(84,264		)
Interest expensed	$	—		$	—		$	—
Capitalized interest in beginning inventory	$	184,400		$	176,348		$	157,329
Interest capitalized as a cost of inventory	89,691			91,631			84,264
Interest previously capitalized as a cost of inventory, included in    cost of sales	(81,735		)	(83,579		)	(65,245		)
Capitalized interest in ending inventory	$	192,356		$	184,400		$	176,348

Schedule of Real Estate Inventory Impairments and Land Option Abandonments

Real estate inventory impairments and land option abandonments consisted of the following (in thousands):

	Year Ended December 31,
	2019		2018		2017
Real estate inventory impairments	$	10,078	$	—	$	854
Land and lot option abandonments and pre-acquisition costs	14,797		5,085		1,199
Total	$	24,875	$	5,085	$	2,053