REAL ESTATE INVENTORY

6 Months Ended

Oct. 31, 2020

(3) REAL ESTATE INVENTORY

Real estate inventory consists of:


	October 31,		April 30,
	2020		2020
	(in thousands)
Land held for development	$	52,771	$	53,405
Construction in process		1,154		44
	$	53,925	$	53,449

Land held for development represents property located in areas that are planned to be developed in the near term. As of October 31, 2020 and April 30, 2020, the Company held approximately 6,000 acres of land in New Mexico classified as land held for development. Construction in process relates to construction costs for residential homes being built and offered for sale by the homebuilding business segment.