XML 20 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Land Under Development
3 Months Ended
Mar. 31, 2018
Real Estate [Abstract]  
Land Under Development
Land Under Development
On a limited basis, NVR directly acquires raw land parcels already zoned for its intended use to develop into finished lots.  Land under development includes the land acquisition costs, direct improvement costs, capitalized interest where applicable, and real estate taxes.
As of March 31, 2018, NVR directly owned a total of four separate raw land parcels with a carrying value of $33,078 that are expected to produce approximately 450 finished lots. The Company also has additional funding commitments of approximately $7,400 under a joint development agreement related to one parcel, a portion of which the Company expects will be offset by development credits of approximately $4,600.
None of the raw parcels had any indicators of impairment as of March 31, 2018.