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Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 2018
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following reflects the disaggregation of revenue by primary geographic market, type of customer, product type, and timing of revenue recognition for the three months ended June 30, 2018 and 2017 (in thousands):
 
Three Months Ended June 30, 2018
 
Three Months Ended June 30, 2017
 
Builder Operations
 
Land Development
 
Builder Operations
 
Land Development
Primary Geographic Market
 
 
 
 
 
 
 
Texas
$
66,893

 
$
10,692

 
$
46,710

 
$
3,991

Georgia
66,116

 
440

 
53,635

 
615

Florida
10,869

 

 

 

Total revenues
$
143,878

 
$
11,132

 
$
100,345

 
$
4,606

 
 
 
 
 
 
 
 
Type of Customer
 
 
 
 
 
 
 
Homebuyers
$
143,878

 
$

 
$
100,345

 
$

Homebuilders

 
11,132

 

 
4,606

Total revenues
$
143,878

 
$
11,132

 
$
100,345

 
$
4,606

 
 
 
 
 
 
 
 
Product Type
 
 
 
 
 
 
 
Residential units
$
143,878

 
$

 
$
100,345

 
$

Land and lots

 
11,132

 

 
4,606

Total revenues
$
143,878

 
$
11,132

 
$
100,345

 
$
4,606

 
 
 
 
 
 
 
 
Timing of Revenue Recognition
 
 
 
 
 
 
 
Transferred at a point in time
$
143,878

 
$
11,132

 
$
100,345

 
$
4,606

Total revenues
$
143,878

 
$
11,132

 
$
100,345

 
$
4,606


The following reflects the disaggregation of revenue by primary geographic market, type of customer, product type, and timing of revenue recognition for the six months ended June 30, 2018 and 2017 (in thousands):
 
Six Months Ended June 30, 2018
 
Six Months Ended June 30, 2017
 
Builder Operations
 
Land Development
 
Builder Operations
 
Land Development
Primary Geographic Market
 
 
 
 
 
 
 
Texas
$
138,441

 
$
14,691

 
$
97,380

 
$
9,744

Georgia
114,934

 
4,340

 
96,362

 
802

Florida
10,869

 

 

 

Total revenues
$
264,244

 
$
19,031

 
$
193,742

 
$
10,546

 
 
 
 
 
 
 
 
Type of Customer
 
 
 
 
 
 
 
Homebuyers
$
264,244

 
$

 
$
193,742

 
$

Homebuilders

 
19,031

 

 
10,546

Total revenues
$
264,244

 
$
19,031

 
$
193,742

 
$
10,546

 
 
 
 
 
 
 
 
Product Type
 
 
 
 
 
 
 
Residential units
$
264,244

 
$

 
$
193,742

 
$

Land and lots

 
19,031

 

 
10,546

Total revenues
$
264,244

 
$
19,031

 
$
193,742

 
$
10,546

 
 
 
 
 
 
 
 
Timing of Revenue Recognition
 
 
 
 
 
 
 
Transferred at a point in time
$
264,244

 
$
19,031

 
$
193,742

 
$
10,546

Total revenues
$
264,244

 
$
19,031

 
$
193,742

 
$
10,546

Opening and Closing Contract Balances Included in Customer and Builder Deposits on Balance Sheet and Deposits Recognized as Revenue
Opening and closing contract balances included in customer and builder deposits on the condensed consolidated balance sheets are as follows (in thousands):

June 30, 2018
 
December 31, 2017
 
June 30, 2017
 
December 31, 2016
Customer and builder deposits
$
33,988

 
$
21,447

 
$
19,292

 
$
14,088

The amount of deposits on residential units and land and lots held as of the beginning of the period and recognized as revenue during the three and six months ended June 30, 2018 and 2017 are as follows (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Type of Customer
 
 
 
 
 
 
 
Homebuyers
$
5,423

 
$
1,841

 
$
7,016

 
$
3,110

Homebuilders
5

 
80

 
236

 
380

Total deposits recognized as revenue
$
5,428

 
$
1,921

 
$
7,252

 
$
3,490

Remaining Performance Obligation, Expected Timing of Satisfaction
The Company will recognize the remaining revenue when the lots are taken down, or upon closing for the sale of a land parcel, which is expected to occur as follows (in thousands):
 
Total
Remainder of 2018
$
24,422

2019
48,445

2020
24,766

2021
4,550

Total
$
102,183