We had 448 and 359 communities under development and held for future development or sale at July 31, 2024 and 2023, respectively, which we evaluated for impairment indicators. We identified an impairment indicator related to an offer received on a parcel of land with a carrying value of $15.2 million for one community in our West segment during both the three and nine months ended July 31, 2024. The impairment analysis resulted in an impairment charge of $2.7 million, included with "Inventory impairments and land option write-offs" in the Condensed Consolidated Statement of Operations and deducted from inventory. We did not identify impairment indicators for any community during the three and nine months ended July 31, 2023.

Write-offs of options, engineering and capitalized interest costs are recorded in "Inventory impairments and land option write-offs" when we redesign communities, abandon certain engineering costs or do not exercise options in various locations because the pro forma profitability is not projected to produce adequate returns on investment commensurate with the risk. Total aggregate write-offs related to these items were $0.4 million and $0.3 million for the three months ended July 31, 2024 and 2023, respectively, and $0.9 million for each of the nine months ended July 31, 2024 and 2023. The number of lots walked away from during the three months ended July 31, 2024 and 2023 were 1,277 and 521, respectively, and 2,547 and 2,918 during the nine months ended July 31, 2024 and 2023, respectively. Walk-aways during the first three quarters of fiscal 2024 and 2023 occurred across each of our segments.

We sell and lease back certain of our model homes with the right to participate in the potential profit when each home is sold to a third-party at the end of the respective lease. As a result of our continued involvement and the ability to repurchase model homes with below market options, these sale and leaseback transactions are considered a financing rather than a sale. Our Condensed Consolidated Balance Sheets at July 31, 2024 and October 31, 2023, included inventory of $48.9 million and $41.7 million, respectively, recorded to “Consolidated inventory not owned” with a corresponding amount of $49.4 million and $42.0 million, respectively, recorded to “Liabilities from inventory not owned” for the amount of net cash received from the transactions.

We have land banking arrangements, whereby we sell our land parcels to a land banker and they provide us an option to purchase back finished lots on a predetermined schedule. Because of our options to repurchase these parcels, these transactions are considered a financing rather than a sale. Our Condensed Consolidated Balance Sheets at July 31, 2024 and October 31, 2023, included inventory of $167.5 million and $183.1 million, respectively, recorded to “Consolidated inventory not owned” with a corresponding amount of $86.2 million (net of debt issuance costs) and $82.3 million, respectively, recorded to “Liabilities from inventory not owned” for the amount of net cash received from the transactions.