Land Under Development

12 Months Ended

Dec. 31, 2019

Real Estate [Abstract]

Land Under Development

Land Under Development

As of December 31, 2019, we directly owned five separate raw parcels of land with a carrying value of $69,196 that we intend to develop into approximately 650 finished lots primarily for use in our homebuilding operations. We also have additional funding commitments of approximately $6,100 under a joint development agreement related to one parcel, a portion of which we expect will be offset by development credits of approximately $2,800. None of the raw parcels had any indicators of impairment as of December 31, 2019.

As of December 31, 2018, we directly owned three separate raw parcels of land with a carrying value of $38,857, which were expected to produce approximately 500 finished lots.