Prepaid Expenses and Other Assets

9 Months Ended

Sep. 30, 2026

Prepaid Expenses and Other Assets [Abstract]

5. Prepaid Expenses and Other Assets

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


	September 30,		December 31,
	2026		2025
Prepaid insurance	$	41,214	$	33,811
Lot option and escrow deposits		84,580		92,085
Performance deposits		9,804		10,626
Restricted cash⁽¹⁾		23,718		30,111
Multi-family rental properties inventory⁽²⁾		241,704		188,543
Mortgage servicing rights		34,534		11,375
Right-of-use assets		11,180		10,944
Other assets and prepaid expenses		80,847		58,188
Total prepaid expenses and other assets	$	527,581	$	435,683

⁽¹⁾Restricted cash consists of earnest money deposits for home sale contracts held by third parties as required by various jurisdictions, restricted cash related to land development, 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.