Financial Services	12 Months Ended
Dec. 31, 2023
Financial Services [Abstract]
Financial Services	4. Financial Services Our Financial Services are principally comprised of our mortgage lending operations, Inspire. Inspire is a full-service mortgage lender and primarily originates mortgage loans for our homebuyers. Inspire sells substantially all of the loans it originates either as loans with servicing rights released, or with servicing rights retained, in the secondary mortgage market within a short period of time after origination, generally within 30 days. Inspire primarily finances these loans using its mortgage repurchase facilities. As of December 31, 2023 and 2022, Inspire had mortgage loans held for sale with an aggregate fair value of $251.9 million and $203.6 million, respectively, and an aggregate outstanding principal balance of $247.7 million and $202.0 million, respectively. Net loss on the sale of mortgage loans was $13.7 million for the year ended December 31, 2023, and net gains on the sale of mortgage loans were $7.7 million and $87.3 million for the years ended December 31, 2022 and 2021, respectively, and are included in financial services revenue on the consolidated statements of operations. Gain from the change in fair value for mortgage loans held for sale was $2.6 million for the year ended December 31, 2023, and losses from the change in fair value for mortgage loans held for sale were $9.5 million and $2.0 million for the years ended December 31, 2022 and 2021, respectively, and are included in financial services revenue on the consolidated statements of operations. Mortgage loans in process for which interest rates were locked by borrowers, or interest rate lock commitments, totaled approximately $49.6 million and $68.1 million at December 31, 2023 and 2022, respectively, and carried a weighted average interest rate of approximately 5.8% and 6.1%, respectively. Interest rate risks related to these obligations are typically mitigated by the preselling of loans to investors or through our interest rate hedging program. Refer to Note 13 – Fair Value Disclosures for further information regarding our derivative instruments.

Financial Services

12 Months Ended

Dec. 31, 2023

4. Financial Services

Our Financial Services are principally comprised of our mortgage lending operations, Inspire. Inspire is a full-service mortgage lender and primarily originates mortgage loans for our homebuyers. Inspire sells substantially all of the loans it originates either as loans with servicing rights released, or with servicing rights retained, in the secondary mortgage market within a short period of time after origination, generally within 30 days. Inspire primarily finances these loans using its mortgage repurchase facilities. As of December 31, 2023 and 2022, Inspire had mortgage loans held for sale with an aggregate fair value of $251.9 million and $203.6 million, respectively, and an aggregate outstanding principal balance of $247.7 million and $202.0 million, respectively. Net loss on the sale of mortgage loans was $13.7 million for the year ended December 31, 2023, and net gains on the sale of mortgage loans were $7.7 million and $87.3 million for the years ended December 31, 2022 and 2021, respectively, and are included in financial services revenue on the consolidated statements of operations. Gain from the change in fair value for mortgage loans held for sale was $2.6 million for the year ended December 31, 2023, and losses from the change in fair value for mortgage loans held for sale were $9.5 million and $2.0 million for the years ended December 31, 2022 and 2021, respectively, and are included in financial services revenue on the consolidated statements of operations.

Mortgage loans in process for which interest rates were locked by borrowers, or interest rate lock commitments, totaled approximately $49.6 million and $68.1 million at December 31, 2023 and 2022, respectively, and carried a weighted average interest rate of approximately 5.8% and 6.1%, respectively. Interest rate risks related to these obligations are typically mitigated by the preselling of loans to investors or through our interest rate hedging program. Refer to Note 13 – Fair Value Disclosures for further information regarding our derivative instruments.