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Inventory
3 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
INVENTORY INVENTORIES
At the end of each quarter, the Company reviews the performance and outlook for all of its communities and land inventories for indicators of potential impairment and performs detailed impairment evaluations and analyses when necessary. As of December 31, 2024, the Company performed detailed impairment evaluations of communities and land inventories and determined that communities with a combined carrying value of $40.2 million were impaired on a non-recurring basis using Level 3 inputs. As a result, impairment charges of $3.2 million were recorded during the three months ended December 31, 2024 to reduce the carrying value of the related inventories to fair value. There were no impairment charges recorded in the prior year quarter.
During the three months ended December 31, 2024, earnest money and pre-acquisition cost write-offs related to land purchase contracts that the Company has terminated or expects to terminate were $13.4 million compared to $6.1 million in the prior year quarter. Inventory impairments and land option charges are included in cost of sales in the consolidated statements of operations.