Owned Inventory (Tables)

3 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Schedule of inventory

The components of our owned inventory are as follows as of December 31, 2021 and September 30, 2021:

in thousands	December 31, 2021		September 30, 2021
Homes under construction	$	726,379	$	648,283
Land under development	646,161		648,404
Land held for future development	19,879		19,879
Land held for sale	10,822		9,179
Capitalized interest	110,516		106,985
Model homes	68,044		68,872
Total owned inventory	$	1,581,801	$	1,501,602

Schedule of total owned inventory, by segment

Total owned inventory by reportable segment is presented in the table below as of December 31, 2021 and September 30, 2021:

in thousands	Projects in Progress (a)		Land Held for Future Development		Land Held for Sale		Total Owned Inventory
December 31, 2021
West	$	832,477	$	3,483	$	8,315	$	844,275
East	273,491		10,888		347		284,726
Southeast	280,539		5,508		2,160		288,207
Corporate and unallocated (b)	164,593		—		—		164,593
Total	$	1,551,100	$	19,879	$	10,822	$	1,581,801
September 30, 2021
West	$	781,036	$	3,483	$	4,478	$	788,997
East	264,991		10,888		584		276,463
Southeast	269,738		5,508		4,117		279,363
Corporate and unallocated (b)	156,779		—		—		156,779
Total	$	1,472,544	$	19,879	$	9,179	$	1,501,602

(a) Projects in progress include homes under construction, land under development, capitalized interest, and model home categories from the preceding table.

(b) Projects in progress amount includes capitalized interest and indirect costs that are maintained within our Corporate and unallocated segment.

Summary of interests in lot option agreements

The following table provides a summary of our interests in lot option agreements as of December 31, 2021 and September 30, 2021:

in thousands	Deposits & Non-refundable Pre-acquisition Costs Incurred (a)		Remaining Obligation, Net of Deposits
As of December 31, 2021
Unconsolidated lot option agreements	$	121,581	$	715,350
As of September 30, 2021
Unconsolidated lot option agreements	$	114,688	$	676,149

(a) Amount is included as a component of land under development within our owned inventory in the condensed consolidated balance sheet.