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Real estate inventory and capitalized interest
 3 Months Ended
Mar. 31, 2024
Real estate inventory and capitalized interest [Abstract]  
Real estate inventory and capitalized interest
Note 2 ‑ Real estate inventory and capitalized interest:

A summary of real estate inventory is as follows as of March 31, 2024 and December 31, 2023 (in thousands):

   
March 31,
2024
    
December 31,
2023
  
Lots held for construction
  
$
59,149
    
$
32,184
  
Homes under construction, completed homes and model homes
    
174,931
      
180,920
  
Total real estate inventory
  
$
234,080
    
$
213,104
  

The Company capitalizes into real estate inventory interest costs incurred on homes under construction during the construction period until substantial completion. The Company does not capitalize interest on homes where construction has been suspended.

A summary of capitalized interest is as follows (in thousands):

   
Three Months Ended March 31,
  
   
2024
  
2023
  
Capitalized interest, beginning of period
  
$
1,338
    
$
1,117
  
Interest incurred
    
939
      
510
  
Interest expensed
    
(698
)
    
(245
)
Interest charged to cost of home closings
    
(721
)
    
(603
)
Capitalized interest, end of period
  
$
858
    
$
779