| Schedule of Inventory |
The following table sets forth, by reportable segment, information relating to our homebuilding inventories: | | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | | | | | (Dollars in thousands) | | Housing completed or under construction: | | | | | Pacific Northwest | $ | 426,338 | | | $ | 459,080 | | | California | 794,091 | | | 732,402 | | | Desert | 573,604 | | | 575,557 | | | Mountain | 443,003 | | | 510,726 | | | Texas | 451,589 | | | 414,850 | | | East | 285,129 | | | 367,629 | | | Subtotal | 2,973,754 | | | 3,060,244 | | | Land and land under development: | | | | | Pacific Northwest | 663,809 | | | 681,229 | | | California | 865,097 | | | 847,635 | | | Desert | 1,043,154 | | | 1,054,816 | | | Mountain | 500,456 | | | 509,450 | | | Texas | 479,756 | | | 457,977 | | | East | 527,523 | | | 500,941 | | | Subtotal | 4,079,795 | | | 4,052,048 | | | Land held for sale: | | | | | Pacific Northwest | 7,005 | | | 9,928 | | | California | 51,866 | | | 46,763 | | | Desert | — | | | — | | | Mountain | — | | | — | | | Texas | 7,628 | | | 10,944 | | | East | 9,117 | | | — | | | Subtotal | 75,616 | | | 67,635 | | | Total inventories | $ | 7,129,165 | | | $ | 7,179,927 | |
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| Schedule of Inventory Impairments |
Inventory impairments recognized by segment for the three and six months ended June 30, 2026 and 2025 are shown in the table below.
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | (Dollars in thousands) | | Housing Completed or Under Construction: | | | | | | | | | Pacific Northwest | $ | — | | | $ | 4,689 | | | $ | 560 | | | $ | 4,689 | | | California | — | | | 2,432 | | | — | | | 2,432 | | | Desert | — | | | — | | | 1,450 | | | — | | | Mountain | — | | | — | | | — | | | — | | | Texas | — | | | 1,100 | | | — | | | 1,100 | | | East | — | | | 750 | | | 2,014 | | | 750 | | | Subtotal | — | | | 8,971 | | | 4,024 | | | 8,971 | | | Land and Land Under Development: | | | | | | | | | Pacific Northwest | — | | | 3,211 | | | 140 | | | 3,211 | | | California | — | | | 3,021 | | | — | | | 3,021 | | | Desert | — | | | — | | | — | | | — | | | Mountain | — | | | — | | | — | | | — | | | Texas | — | | | — | | | — | | | — | | | East | — | | | — | | | 336 | | | — | | | Subtotal | — | | | 6,232 | | | 476 | | | 6,232 | | | Total Inventory Impairments | $ | — | | | $ | 15,203 | | | $ | 4,500 | | | $ | 15,203 | |
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| Schedule of Quantitative Data for Fair Value of the Impaired Inventory |
The table below provides quantitative data, for the periods presented, where applicable, used in determining the fair value of the impaired inventory. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Impairment Data | | Quantitative Data | | Three Months Ended | | Number of Subdivisions Impaired | | Inventory
Impairments | | Fair Value of
Inventory After Impairments | | Discount Rate | | | (Dollars in thousands) | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | 4 | | 4,500 | | | 23,441 | | | 15% | | Total | | | | $ | 4,500 | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | 8 | | 15,203 | | | 55,679 | | | 12% | | — | | 15% | | Total | | | | $ | 15,203 | | | | | | | | | |
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