Land Under Development

12 Months Ended

Dec. 31, 2020

Real Estate [Abstract]

Land Under Development

Land Under Development

As of December 31, 2020, we directly owned three separate raw parcels of land with a carrying value of $62,790 that we intend to develop into approximately 500 finished lots primarily for use in our homebuilding operations. We also have additional funding commitments of approximately $5,100 under a joint development agreement related to one parcel, a portion of which we expect will be offset by development credits of approximately $2,600. None of the raw parcels had any indicators of impairment as of December 31, 2020.

As of December 31, 2019, we directly owned five separate raw parcels of land with a carrying value of $69,196, which were expected to produce approximately 650 finished lots.