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Inventories
 12 Months Ended
Nov. 30, 2024
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories consisted of the following (in thousands):
 
November 30,
 
2024
2023
Homes completed or under construction
$1,990,113
$2,106,149
Land under development
3,537,907
3,027,497
Total
$5,528,020
$5,133,646
Homes completed or under construction is comprised of costs associated with homes completed or in various stages of
construction and includes direct construction and related land acquisition and land development costs.  Land under development
primarily consists of land acquisition and land development costs.  Land development costs include capitalized interest and real
estate taxes.  When home construction begins, the associated land acquisition and land development costs are included in homes
under construction. 
Land under development at November 30, 2024 and 2023 included land held for future development of $21.2 million and
$17.0 million, respectively.  Land held for future development principally relates to land where development activity has been
suspended or has not yet begun but is expected to occur in the future.  These assets are generally located in submarkets where
conditions do not presently support further investment or development, or are subject to a building permit moratorium or
regulatory restrictions, or are portions of larger land parcels that we plan to build out over several years and/or that have not yet
been entitled. 
Our interest costs were as follows (in thousands):
 
Years Ended November 30,
 
2024
2023
2022
Capitalized interest at beginning of year
$134,375
$145,494
$161,119
Interest incurred
105,642
107,086
120,859
Interest amortized to construction and land costs (a)
(117,630)
(118,205)
(136,484)
Capitalized interest at end of year
$122,387
$134,375
$145,494
(a)Interest amortized to construction and land costs for the years ended November 30, 2024 and 2023 included nominal
amounts related to land sales during the periods.