Prepaid Expenses and Other Assets

6 Months Ended

Jun. 30, 2026

Prepaid Expenses and Other Assets [Abstract]

5. Prepaid Expenses and Other Assets

Prepaid expenses and other assets included the following (in thousands):


	June 30,		December 31,
	2026		2025
Prepaid insurance	$	23,757	$	33,811
Lot option and escrow deposits		92,173		92,085
Performance deposits		9,936		10,626
Restricted cash⁽¹⁾		27,075		30,111
Multi-family rental properties inventory⁽²⁾		232,297		188,543
Mortgage servicing rights		25,783		11,375
Right-of-use assets		10,724		10,944
Other assets and prepaid expenses		89,814		58,188
Total prepaid expenses and other assets	$	511,559	$	435,683

⁽¹⁾Restricted cash consists of restricted cash related to land development, earnest money deposits for home sale contracts held by third parties as required by various jurisdictions, and certain compensating balances associated with our mortgage repurchase facilities and other financing obligations.

⁽²⁾Multi-family rental properties inventory includes multi-family rental properties that are under construction and those in lease-up.