v3.25.2
Inventories (Tables)
6 Months Ended
Jun. 30, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventory
Inventories consisted of the following as of June 30, 2025 and December 31, 2024 (in thousands):
As of
June 30, 2025
As of
December 31, 2024
Construction in process and finished homes$1,684,263 $1,487,478 
Owned land and lots187,355 133,311 
Pre-acquisition land costs119,189 94,568 
Inventories$1,990,807 $1,715,357 
Capitalized Inventory
Capitalized interest activity primarily related to the Company’s revolving credit facility and senior unsecured notes, net is summarized in the table below for the three and six months ended June 30, 2025 and 2024 (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2025 202420252024
Capitalized interest as of beginning of the period$42,783  $30,839 $37,723 $27,311 
Interest incurred28,812  28,140 55,478 47,176 
Interest charged to homebuilding cost of sales(27,961)(22,381)(49,567)(37,889)
Capitalized interest as of end of the period$43,634  $36,598 $43,634 $36,598