Subsequent Event

12 Months Ended

Oct. 31, 2011

Subsequent Event [Abstract]

Subsequent Event

16. Subsequent Event

In November 2011, the Company acquired substantially all of the assets of CamWest Development LLC (“CamWest”) for approximately $143.7 million in cash. The assets acquired were primarily inventory. As part of the acquisition, the Company assumed contracts to deliver approximately 29 homes with an aggregate value of $13.7 million. The average price of the homes in backlog was approximately $471,000. The assets the Company acquired included approximately 1,245 home sites owned and 254 home sites controlled through land purchase agreements. This acquisition increased the Company’s selling community count by 15 communities.