Inventories (Tables)

6 Months Ended

Jun. 30, 2025

Inventory Disclosure [Abstract]

Schedule of Inventory

The following table sets forth, by reportable segment, information relating to our homebuilding inventories:

	June 30, 2025		December 31, 2024
	(Dollars in thousands)
Housing completed or under construction:
West	$	1,225,177	$	1,112,172
Mountain	666,705		616,200
East	426,048		387,857
Subtotal	2,317,930		2,116,229
Land and land under development:
West	1,165,120		1,069,594
Mountain	370,205		408,189
East	341,396		158,241
Subtotal	1,876,721		1,636,024
Total inventories	$	4,194,651	$	3,752,253

Schedule of Inventory Impairments

Inventory impairments recognized by segment for the three and six months ended June 30, 2025 and 2024 are shown in the table below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
	(Dollars in thousands)				(Dollars in thousands)
Housing Completed or Under Construction:
West	$	5,789	$	1,423	$	5,789	$	2,331
Mountain	—		—		—		400
East	750		880		750		880
Subtotal	6,539		2,303		6,539		3,611
Land and Land Under Development:
West	3,211		77		3,211		4,669
Mountain	—		—		—		—
East	—		2,170		—		2,170
Subtotal	3,211		2,247		3,211		6,839
Total Inventory Impairments	$	9,750	$	4,550	$	9,750	$	10,450

Schedule of Quantitative Data for Fair Value of the Impaired Inventory

The table below provides quantitative data, for the periods presented, where applicable, used in determining the fair value of the impaired inventory.

	Impairment Data				Quantitative Data
Three Months Ended	Number of Subdivisions Impaired	Inventory Impairments		Fair Value of Inventory After Impairments	Discount Rate
	(Dollars in thousands)
June 30, 2025	6	9,750		44,309	12%	—	15%
Total		$	9,750
June 30, 2024	4	4,550		27,834	12%	—	15%
March 31, 2024	3	5,900		17,634	12%	—	18%
Total		$	10,450