Contract Land Deposits

3 Months Ended

Mar. 31, 2012

Contract Land Deposits [Abstract]

Contract Land Deposits

4. Contract Land Deposits

As of March 31, 2012, NVR controlled approximately 48,400 lots under purchase agreements with deposits in cash and letters of credit totaling approximately $209,400 and $3,400, respectively. At December 31, 2011, NVR controlled approximately 48,200 lots under purchase agreements with deposits in cash and letters of credit totaling approximately $202,300 and $3,200, respectively. During the three-month periods ended March 31, 2012 and March 31, 2011, the Company recognized a net pre-tax recovery of approximately $1,000 of contract land deposits previously determined to be uncollectible and recognized a net pre-tax contract land deposit impairment charge of approximately $1,300, respectively. The contract land deposit asset is shown net of an approximate $69,100 and $70,300 impairment valuation allowance at March 31, 2012 and December 31, 2011, respectively.