v3.25.2
Real estate inventory and capitalized interest
6 Months Ended
Jun. 30, 2025
Real estate inventory and capitalized interest [Abstract]  
Real estate inventory and capitalized interest Real estate inventory and capitalized interest:
A summary of real estate inventory is as follows as of June 30, 2025 and December 31, 2024 (in thousands):
 June 30,
2025
December 31,
2024
Lots held for construction$81,370 $73,352 
Homes under construction, completed homes and model homes239,478 204,482 
Total real estate inventory$320,848 $277,834 
The Company capitalizes into real estate inventory interest costs incurred on homes under construction during the construction period until substantial completion. The Company does not capitalize interest on homes where construction has been suspended.
A summary of capitalized interest is as follows (in thousands):
 Three months ended June 30,Six months ended June 30,
 2025202420252024
Capitalized interest, beginning of period$325 $858 $253 $1,338 
Interest incurred1,645 893 2,539 1,832 
Interest expensed(772)(591)(1,438)(1,289)
Interest charged to cost of home closings(365)(333)(521)(1,054)
Capitalized interest, end of period$833 $827 $833 $827