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Investments in Unconsolidated Joint Ventures (Financial Information for Unconsolidated Joint Ventures) (Details)
$ in Thousands
3 Months Ended 6 Months Ended
May 31, 2024
USD ($)
joint_venture
May 31, 2023
USD ($)
May 31, 2024
USD ($)
joint_venture
May 31, 2023
USD ($)
Mar. 31, 2024
USD ($)
Feb. 29, 2024
USD ($)
Nov. 30, 2023
USD ($)
joint_venture
Feb. 28, 2023
USD ($)
Nov. 30, 2022
USD ($)
Schedule of Equity Method Investments [Line Items]                  
Number of investments in unconsolidated joint ventures | joint_venture 6   6       6    
Statements of operations of unconsolidated joint venture                  
Net income $ 168,419 $ 164,442 $ 307,084 $ 289,942          
Assets                  
Total assets 6,805,680   6,805,680       $ 6,648,362    
Liabilities and equity                  
Equity 3,991,704 3,766,482 3,991,704 3,766,482   $ 3,882,670 3,810,140 $ 3,695,463 $ 3,660,795
Total liabilities and stockholders’ equity $ 6,805,680   $ 6,805,680       $ 6,648,362    
Number of joint ventures with funding commitments | joint_venture 1   1       1    
Number of other unconsolidated joint ventures with outstanding debt | joint_venture 0   0       0    
Homebuilding                  
Assets                  
Cash and cash equivalents $ 643,536   $ 643,536       $ 727,076    
Other assets 119,453   119,453       96,987    
Total assets 6,737,870   6,737,870       6,591,483    
Financial services                  
Assets                  
Cash and cash equivalents 716   716       266    
Other assets [1] 37,868   37,868       34,476    
Total assets 67,810   67,810       56,879    
Financial services | Interest Rate Lock Commitments                  
Liabilities and equity                  
Derivative asset, notional amount 18,000   18,000       13,900    
Change in fair value included in gain (loss) on sale of mortgage loans held for sale 1,300 (2,700) 4,200 (4,200)          
Equity Method Investment, Nonconsolidated Investee or Group of Investees | Unsecured revolving credit facility                  
Liabilities and equity                  
Line of credit facility, current borrowing capacity 70,000   $ 70,000   $ 62,000        
Unsecured revolving credit facility, expiration date     Apr. 19, 2026            
Equity Method Investment, Nonconsolidated Investee or Group of Investees | Unsecured revolving credit facility | Max                  
Liabilities and equity                  
Line of credit facility, current borrowing capacity 80,000   $ 80,000            
Equity Method Investment, Nonconsolidated Investee or Group of Investees | Homebuilding                  
Statements of operations of unconsolidated joint venture                  
Revenues 5,298 1,171 5,298 1,171          
Construction and land costs (3,824) (683) (3,824) (686)          
Other expense, net (993) (960) (1,847) (2,410)          
Net income 481 (472) (373) (1,925)          
Assets                  
Cash 15,778   15,778       16,260    
Receivables 2,765   2,765       3,437    
Inventories 172,354   172,354       152,456    
Other assets 1,296   1,296       679    
Total assets 192,193   192,193       172,832    
Liabilities and equity                  
Accounts payable and other liabilities 8,062   8,062       9,632    
Notes payable [2] 64,909   64,909       53,386    
Equity 119,222   119,222       109,814    
Total liabilities and stockholders’ equity 192,193   192,193       172,832    
Equity Method Investment, Nonconsolidated Investee or Group of Investees | Financial services                  
Statements of operations of unconsolidated joint venture                  
Revenues 31,458 28,450 61,870 48,640          
Other expense, net (18,589) (17,599) (34,890) (34,624)          
Net income 12,869 $ 10,851 26,980 $ 14,016          
Assets                  
Cash and cash equivalents 40,364   40,364       29,163    
Mortgage loans held for sale 125,353   125,353       164,252    
Other assets 21,086   21,086       18,380    
Total assets 186,803   186,803       211,795    
Liabilities and equity                  
Accounts payable and other liabilities 12,714   12,714       13,763    
Funding facilities 121,467   121,467       159,324    
Equity 52,622   52,622       38,708    
Total liabilities and stockholders’ equity $ 186,803   $ 186,803       $ 211,795    
[1] Other assets at May 31, 2024 and November 30, 2023 included $37.8 million and $34.4 million, respectively, of contract assets for estimated future renewal commissions.
[2] As of both May 31, 2024 and November 30, 2023, one of our unconsolidated joint ventures had borrowings outstanding under a revolving line of credit it entered into with a third-party lender in April 2022 to finance its land acquisition, development and construction activities. In April 2024, the revolving line of credit was amended, increasing the aggregate commitment to $70.0 million from $62.0 million, with the amount of all advances through October 2024 not to exceed $80.0 million. Borrowings under the line of credit are secured by the underlying property and related project assets. The line of credit is scheduled to mature on April 19, 2026, unless extended or terminated pursuant to its applicable terms. None of our other unconsolidated joint ventures had outstanding debt at May 31, 2024 or November 30, 2023