v3.26.1
Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Disaggregation of Revenue
The following reflects the disaggregation of revenue by primary geographic market, type of customer, product type, and timing of revenue recognition (in thousands):
Years Ended December 31,
202520242023
As restatedAs restatedAs restated
Residential units revenueLand and lots revenueResidential units revenueLand and lots revenueResidential units revenueLand and lots revenue
Primary Geographical Market
Central$1,524,961 $6,994 $1,454,752 $28,807 $1,244,810 $7,980 
Southeast508,039 — 577,916 — 496,045 475 
Total revenues$2,033,000 $6,994 $2,032,668 $28,807 $1,740,855 $8,455 
Type of Customer
Homebuyers$2,033,000 $— $2,032,668 $— $1,740,855 $— 
Homebuilders and Multi-family Developers— 6,994 — 28,807 — 8,455 
Total revenues$2,033,000 $6,994 $2,032,668 $28,807 $1,740,855 $8,455 
Product Type
Residential units$2,033,000 $— $2,032,668 $— $1,740,855 $— 
Land and lots— 6,994 — 28,807 — 8,455 
Total revenues$2,033,000 $6,994 $2,032,668 $28,807 $1,740,855 $8,455 
Timing of Revenue Recognition(1)
Transferred at a point in time$2,032,781 $6,994 $2,032,288 $28,807 $1,739,388 $8,455 
Transferred over time219 — 380 — 1,467 — 
Total revenues$2,033,000 $6,994 $2,032,668 $28,807 $1,740,855 $8,455 
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]
The aggregate amount of transaction price allocated to the remaining performance obligations on our land sale and lot option contracts is $7.5 million. The Company will recognize the remaining revenue when the lots are taken down, or upon closing for the sale of a land parcel, which is expected to occur in 2026.

The timing of lot takedowns is contingent upon a number of factors, including customer needs and demand, the number of lots being purchased, receipt of acceptance of the plat by the municipality, weather-related delays, and agreed-upon lot takedown schedules.
Contract with Customer, Asset and Liability [Table Text Block]
Contract Balances

Opening and closing contract balances included in customer and builder deposits on the consolidated balance sheets are as follows (in thousands):
December 31, 2025December 31, 2024
Customer and builder deposits$25,716 $37,068 

The difference between the opening and closing balances of customer and builder deposits results from the timing difference between the customer’s payment of a deposit and the Company’s delivery of the home, impacted slightly by terminations of contracts. 

The amount of deposits on residential units and land and lots held as of the beginning of the period and recognized as revenue during the years ended December 31, 2025 and 2024 are as follows (in thousands):
20252024
Type of Customer
Homebuyers$34,509 $41,402 
Homebuilders and Multi-Family Developers1,634 900 
Total deposits recognized as revenue$36,143 $42,302