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REAL ESTATE INVENTORY

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

REAL ESTATE INVENTORY

REAL ESTATE INVENTORY

The following table presents the components of inventory, net of applicable inventory valuation adjustments of $459 million and $40 million as of December 31, 2022 and 2021, respectively (in millions):

			December 31, 2022						December 31, 2021
Work-in-progress			$	891					$	1,971
Finished goods
Listed for sale			2,788						2,325
Under contract for sale			781						1,800
Total real estate inventory			$	4,460					$	6,096

As of December 31, 2022, the Company was in contract to purchase 1,011 homes for an aggregate purchase price of $331 million.

During the years ended December 31, 2022, 2021, and 2020, the Company recorded inventory valuation adjustments for real estate inventory of $737 million, $56 million, and $8 million, respectively, in Cost of revenue in the consolidated statements of operations.

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- References

No definition available.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI https://asc.fasb.org/topic&trid=2126998

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