Real Estate Inventories (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Inventory Disclosure [Abstract] |
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| Schedule of Real Estate Inventories |
Real estate inventories consisted of the following (in thousands): | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Real estate inventories owned: | | | | | Homes completed or under construction | $ | 1,380,027 | | | $ | 1,038,990 | | | Land under development | 1,336,072 | | | 1,445,671 | | | Land held for future development | 160,702 | | | 159,627 | | | Model homes | 324,748 | | | 304,742 | | | Total real estate inventories owned | 3,201,549 | | | 2,949,030 | | | Real estate inventories not owned: | | | | | Land purchase and land option deposits | 215,505 | | | 209,642 | | | Consolidated inventory not owned | 18,991 | | | 19,576 | | | Total real estate inventories not owned | 234,496 | | | 229,218 | | | Total real estate inventories | $ | 3,436,045 | | | $ | 3,178,248 | |
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| Schedule of Interest Incurred, Capitalized and Expensed |
Interest incurred, capitalized and expensed were as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Interest incurred | $ | 18,326 | | | $ | 20,374 | | | $ | 36,911 | | | $ | 41,693 | | | Interest capitalized | (18,326) | | | (20,374) | | | (36,911) | | | (41,693) | | | Interest expensed | $ | — | | | $ | — | | | $ | — | | | $ | — | | | Capitalized interest in beginning inventory | $ | 163,415 | | | $ | 184,536 | | | $ | 161,300 | | | $ | 186,370 | | | Interest capitalized as a cost of inventory | 18,326 | | | 20,374 | | | 36,911 | | | 41,693 | | Interest previously capitalized as a cost of inventory, included in cost of sales | (21,263) | | | (25,578) | | | (37,733) | | | (48,731) | | | Capitalized interest in ending inventory | $ | 160,478 | | | $ | 179,332 | | | $ | 160,478 | | | $ | 179,332 | |
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| Schedule of Real Estate Inventory Impairments and Land Option Abandonments |
Real estate inventory impairments and land and lot option abandonments and pre-acquisition charges consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Real estate inventory impairments | $ | 8,435 | | | $ | 11,000 | | | $ | 8,435 | | | $ | 11,000 | | | Land and lot option abandonments and pre-acquisition charges | 11,299 | | | 2,096 | | | 12,367 | | | 3,169 | | | Total | $ | 19,734 | | | $ | 13,096 | | | $ | 20,802 | | | $ | 14,169 | |
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