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REAL ESTATE INVENTORY | 6 Months Ended
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Oct. 31, 2025
REAL ESTATE INVENTORY |
REAL ESTATE INVENTORY | (2) REAL ESTATE INVENTORY Real estate inventory consists of (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | October 31, | ​ | April 30,
​ |  | 2025 |  | 2025
Land inventory | ​ | $ | 56,433 | ​ | $ | 50,030
Homebuilding model and completed inventory | ​ | ​ | 8,155 | ​ | ​ | 13,090
Homebuilding construction in process | ​ | ​ | 3,996 | ​ | ​ | 3,630
Total | ​ | $ | 68,584 | ​ | $ | 66,750
​ Refer to Note 2 to the consolidated financial statements contained in the 2025 Form 10-K for detail regarding real estate inventory. No interest or loan costs were capitalized in real estate inventory for the three or six months ended October 31, 2025 or October 31, 2024. Real estate taxes capitalized in real estate inventory were $22,000 and $34,000 for the three and six months ended October 31, 2025 and $17,000 and $46,000 for the three and six months ended October 31, 2024.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 974 -SubTopic 720 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477728/974-720-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/976/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/978/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/970/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/972/tableOfContent Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/974/tableOfContent + Details
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