Owned Inventory (Tables)

6 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Schedule of inventory

The components of our owned inventory are as follows as of March 31, 2024 and September 30, 2023:

in thousands	As of March 31, 2024		As of September 30, 2023
Homes under construction	$	851,278	$	644,363
Land under development	951,221		870,740
Land held for future development	19,879		19,879
Land held for sale	18,264		18,579
Capitalized interest	123,214		112,580
Model homes	93,605		90,062
Total owned inventory	$	2,057,461	$	1,756,203

Schedule of total owned inventory, by segment

Total owned inventory by reportable segment is presented in the table below as of March 31, 2024 and September 30, 2023:

in thousands	Projects in Progress(a)		Land Held for Future Development		Land Held for Sale		Total Owned Inventory
March 31, 2024
West	$	1,076,824	$	3,483	$	13,004	$	1,093,311
East	392,848		10,888		4,584		408,320
Southeast	349,560		5,508		676		355,744
Corporate and unallocated(b)	200,086		—		—		200,086
Total	$	2,019,318	$	19,879	$	18,264	$	2,057,461
September 30, 2023
West	$	914,908	$	3,483	$	14,702	$	933,093
East	325,395		10,888		3,201		339,484
Southeast	297,142		5,508		676		303,326
Corporate and unallocated(b)	180,300		—		—		180,300
Total	$	1,717,745	$	19,879	$	18,579	$	1,756,203

(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.

Schedule of inventory impairments and abandonment charges, by reportable segment

The following table presents, by reportable segment, our total impairment and abandonment charges for the periods presented:

	Three Months Ended March 31,				Six Months Ended March 31,
in thousands	2024		2023		2024		2023
Abandonments:
West	$	—	$	111	$	—	$	147
East	—		—		—		154
Total abandonments charges	$	—	$	111	$	—	$	301
Total impairment and abandonment charges	$	—	$	111	$	—	$	301

Summary of interests in lot option agreements

The following table provides a summary of our interests in lot option agreements as of March 31, 2024 and September 30, 2023:

	As of March 31, 2024		As of September 30, 2023
in thousands
Deposits and non-refundable pre-acquisition costs incurred(a)	$	174,602	$	165,371
Remaining purchase price if lot option agreements are exercised	$	989,420	$	949,447

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