Land and Other Inventories (Tables)

3 Months Ended

Mar. 31, 2016

Land and Other Inventories

Land and Other Inventories

Land and other inventories consist of the following (in thousands):

	March 31, 2016		December 31, 2015
Land held for future development	$	21,417	$	21,403
Land developed and in process of development		374,677		348,648
Homes completed or under construction		233,686		212,480
Total	$	629,780	$	582,531

Interest incurred, capitalized and expensed

The following table represents interest incurred, interest capitalized, and interest expense for the three months ended March 31, 2016 and 2015 (in thousands):

	Three Months
	2016		2015
Interest incurred	$	6,853	$	6,713
Interest capitalized		(5,581)		(3,456)
Interest expense	$	1,272	$	3,257