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Real Estate Inventories (Tables)

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Summary of Real Estate Inventories

Real estate inventories consisted of the following (in thousands):

	December 31, 2018				December 31, 2017
Real estate inventories owned:
Homes completed or under construction	$	959,911			$	793,685
Land under development	1,743,537				1,934,556
Land held for future development	201,874				138,651
Model homes	238,828				211,658
Total real estate inventories owned	3,144,150				3,078,550
Real estate inventories not owned:
Land purchase and land option deposits	71,909				27,003
Total real estate inventories not owned	71,909				27,003
Total real estate inventories	$	3,216,059			$	3,105,553

Summary of Interest Incurred, Capitalized and Expensed

Interest incurred, capitalized and expensed were as follows (in thousands):

	Year Ended December 31,
	2018				2017				2016
Interest incurred	$	91,631			$	84,264			$	68,306
Interest capitalized	(91,631		)		(84,264		)		(68,306		)
Interest expensed	$	—			$	—			$	—
Capitalized interest in beginning inventory	$	176,348			$	157,329			$	140,311
Interest capitalized as a cost of inventory	91,631				84,264				68,306
Interest previously capitalized as a cost of inventory, included in    cost of sales	(83,579		)		(65,245		)		(51,288		)
Capitalized interest in ending inventory	$	184,400			$	176,348			$	157,329

Schedule of Real Estate Inventory Impairments and Land Option Abandonments

Real estate inventory impairments and land option abandonments consisted of the following (in thousands):

	Year Ended December 31,
	2018				2017				2016
Real estate inventory impairments	$	—			$	854			$	—
Land and lot option abandonments and pre-acquisition costs	5,085				1,199				1,470
Total	$	5,085			$	2,053			$	1,470

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+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2921-110230

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.CC)
-URI http://asc.fasb.org/extlink&oid=27011434&loc=d3e125687-122742

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Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations.

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