| Revenue Recognition |
The following reflects the disaggregation of revenue by primary geographic market, type of customer, product type, and timing of revenue recognition for the three and six months ended June 30, 2026 and 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | Three Months Ended June 30, 2025 | | Residential units revenue | | Land and lots revenue | | Residential units revenue | | Land and lots revenue | | Primary Geographical Market | | | | | | | | | Central | $ | 381,101 | | | $ | 9,600 | | | $ | 407,944 | | | $ | 2,038 | | | Southeast | 90,895 | | | — | | | 124,581 | | | — | | | Total revenues | $ | 471,996 | | | $ | 9,600 | | | $ | 532,525 | | | $ | 2,038 | | | | | | | | | | | Type of Customer | | | | | | | | | Homebuyers | $ | 471,996 | | | $ | — | | | $ | 532,525 | | | $ | — | | | Homebuilders and Multi-family Developers | — | | | 9,600 | | | — | | | 2,038 | | | Total revenues | $ | 471,996 | | | $ | 9,600 | | | $ | 532,525 | | | $ | 2,038 | | | | | | | | | | | Product Type | | | | | | | | | Residential units | $ | 471,996 | | | $ | — | | | $ | 532,525 | | | $ | — | | | Land and lots | — | | | 9,600 | | | — | | | 2,038 | | | Total revenues | $ | 471,996 | | | $ | 9,600 | | | $ | 532,525 | | | $ | 2,038 | | | | | | | | | | | Timing of Revenue Recognition | | | | | | | | | Transferred at a point in time | $ | 471,455 | | | $ | 9,600 | | | $ | 532,525 | | | $ | 2,038 | | Transferred over time(1) | 541 | | | — | | | — | | | — | | | Total revenues | $ | 471,996 | | | $ | 9,600 | | | $ | 532,525 | | | $ | 2,038 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | Six Months Ended June 30, 2025 | | Residential units revenue | | Land and lots revenue | | Residential units revenue | | Land and lots revenue | | Primary Geographical Market | | | | | | | | | Central | $ | 721,289 | | | $ | 17,100 | | | $ | 757,348 | | | $ | 4,342 | | | Southeast | 199,194 | | | — | | | 257,326 | | | — | | | Total revenues | $ | 920,483 | | | $ | 17,100 | | | $ | 1,014,674 | | | $ | 4,342 | | | | | | | | | | | Type of Customer | | | | | | | | | Homebuyers | $ | 920,483 | | | $ | — | | | $ | 1,014,674 | | | $ | — | | | Homebuilders and Multi-family Developers | — | | | 17,100 | | | — | | | 4,342 | | | Total revenues | $ | 920,483 | | | $ | 17,100 | | | $ | 1,014,674 | | | $ | 4,342 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | Product Type | | | | | | | | | Residential units | $ | 920,483 | | | $ | — | | | $ | 1,014,674 | | | $ | — | | | Land and lots | — | | | 17,100 | | | — | | | 4,342 | | | Total revenues | $ | 920,483 | | | $ | 17,100 | | | $ | 1,014,674 | | | $ | 4,342 | | | | | | | | | | | Timing of Revenue Recognition | | | | | | | | | Transferred at a point in time | $ | 919,461 | | | $ | 17,100 | | | $ | 1,014,674 | | | $ | 4,342 | | Transferred over time(1) | 1,022 | | | — | | | — | | | — | | | Total revenues | $ | 920,483 | | | $ | 17,100 | | | $ | 1,014,674 | | | $ | 4,342 | |
(1) Revenue recognized over time represents revenue from mechanic’s lien contracts.
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