Real estate development reserve to complete was $2.0 million and $31.7 million as of September 30, 2026 and December 31, 2025, respectively. As of September 30, 2026, certain amounts related to developments that have not been fully closed out that were previously included within the real estate development reserve to complete are now presented within land and lots developed and under development in real estate inventory on the consolidated balance sheets.

Warranty accruals are included within accrued expenses on the condensed consolidated balance sheets. Warranty activity during the three and nine months ended September 30, 2026 and 2025 consisted of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Warranty accrual, beginning of period	$	10,402	$	18,196	$	12,920	$	17,373
Warranties issued	1,011		1,686		3,138		5,230
Changes in liability for existing warranties	—		(4,809)		(2,764)		(5,102)
Payments made	(1,264)		(1,069)		(3,145)		(3,497)
Warranty accrual, end of period	$	10,149	$	14,004	$	10,149	$	14,004