Inventory (Tables)

6 Months Ended

Mar. 31, 2021

The components of our owned inventory are as follows as of March 31, 2021 and September 30, 2020:


in thousands	March 31, 2021		September 30, 2020
Homes under construction	$	653,137	$	525,021
Development projects in progress	517,037		589,763
Land held for future development	23,068		28,531
Land held for sale	8,851		12,622
Capitalized interest	113,414		119,659
Model homes	68,109		75,142
Total owned inventory	$	1,383,616	$	1,350,738

Schedule of total owned inventory, by segment

Total owned inventory by reportable segment is presented in the table below as of March 31, 2021 and September 30, 2020:


in thousands	Projects in Progress (a)		Land Held for Future Development		Land Held for Sale		Total Owned Inventory
March 31, 2021
West Segment	$	649,686	$	3,483	$	1,475	$	654,644
East Segment	264,031		14,077		2,433		280,541
Southeast Segment	273,017		5,508		4,943		283,468
Corporate and unallocated (b)	164,963		—		—		164,963
Total	$	1,351,697	$	23,068	$	8,851	$	1,383,616
September 30, 2020
West Segment	$	627,986	$	3,483	$	4,516	$	635,985
East Segment	241,799		14,077		3,702		259,578
Southeast Segment	266,905		10,971		4,404		282,280
Corporate and unallocated (b)	172,895		—		—		172,895
Total	$	1,309,585	$	28,531	$	12,622	$	1,350,738

(a) Projects in progress include homes under construction, development projects in progress, capitalized interest, and model home categories from the preceding table.

(b) Projects in progress amount includes capitalized interest and indirect costs that are maintained within our Corporate and unallocated segment.

Summary of interests in lot option agreements

The following table provides a summary of our interests in lot option agreements as of March 31, 2021 and September 30, 2020:


in thousands	Deposits & Non-refundable Pre-acquisition Costs Incurred		Remaining Obligation
As of March 31, 2021


Unconsolidated lot option agreements	$	93,346	$	567,424

As of September 30, 2020


Unconsolidated lot option agreements	$	75,921	$	395,133