Land and Other Inventories (Tables)

9 Months Ended

Sep. 30, 2016

Land and Other Inventories

Land and Other Inventories

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

	September 30, 2016		December 31, 2015
Land held for future development	$	22,429	$	21,403
Land developed and in process of development		353,008		348,648
Homes completed or under construction		255,472		212,480
Total	$	630,909	$	582,531

Interest incurred, capitalized and expensed

The following table represents interest incurred, interest capitalized, and interest expense for the three and nine months ended September 30, 2016 and 2015 (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Interest incurred	$	6,483	$	7,501	$	19,873	$	21,002
Interest capitalized		(5,782)		(5,661)		(17,020)		(13,499)
Interest expense	$	701	$	1,840	$	2,853	$	7,503