Landsea Homes (LSEA) 10-K 27 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Feb. 21, 2025	Jun. 30, 2024
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38545
Entity Registrant Name	LANDSEA HOMES CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-2196021
Entity Address, Address Line One	1717 McKinney Avenue
Entity Address, Address Line Two	Suite 1000
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75202
City Area Code	949
Local Phone Number	345-8080
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 169.5
Entity Common Stock, Shares Outstanding		36,330,297
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement with respect to its 2025 Annual Meeting of Stockholders to be filed not later than 120 days after the end of the registrant’s fiscal year are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity CIK	0001721386
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Common Stock | NASDAQ
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	LSEA
Security Exchange Name	NASDAQ
Warrant | NASDAQ
Entity Information [Line Items]
Title of 12(b) Security	Warrants exercisable for Common Stock
Trading Symbol	LSEAW
Security Exchange Name	NASDAQ

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Costa Mesa, California

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 53,322	$ 119,555
Cash held in escrow	3,921	49,091
Real estate inventories	1,339,082	1,121,726
Goodwill	155,597	68,639
Other assets	148,996	107,873
Total assets	1,701,337	1,471,232
Liabilities
Accounts payable	86,348	77,969
Accrued expenses and other liabilities	212,645	160,256
Line of credit facility, net	194,435	307,631
Senior notes, net	530,919	236,143
Total liabilities	1,025,228	782,880
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, none issued and outstanding as of December 31, 2024 and December 31, 2023, respectively	0	0
Common stock, $0.0001 par value, 500,000,000 shares authorized, 41,712,850 issued and 36,316,855 outstanding as of December 31, 2024, 41,382,453 issued and 36,520,894 outstanding as of December 31, 2023	4	4
Additional paid-in capital	462,363	465,290
Retained earnings	204,815	187,584
Total stockholders’ equity	667,182	652,878
Noncontrolling interests	8,927	35,474
Total equity	676,109	688,352
Total liabilities and equity	1,701,337	1,471,232
Related Party
Assets
Due from affiliates	419	4,348
Liabilities
Notes Payable	$ 881	$ 881

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized shares (in shares)	50,000,000	50,000,000
Preferred stock, issued shares (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0
Common stock, par value (in dollars per share)	$ 0.0001
Common stock, shares authorized (in shares)	500,000,000
Common stock, shares issued (in shares)	41,712,850	41,382,453
Common stock, shares outstanding (in shares)	36,316,855	36,520,894

Consolidated Statement of Opera

Consolidated Statement of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue	$ 1,550,337	$ 1,209,947	$ 1,446,449
Cost of sales	1,322,545	994,973	1,159,525
Total cost of sales	1,322,545	994,973	1,159,525
Gross margin	227,792	214,974	286,924
Sales and marketing expenses	98,189	73,248	89,305
General and administrative expenses	102,144	101,442	89,325
Total operating expenses	200,333	174,690	178,630
Income from operations	27,459	40,284	108,294
Other (expense) income, net	(784)	4,261	86
Loss on remeasurement of warrant liability	0	0	(7,315)
Pretax income	26,675	44,545	101,065
Provision for income taxes	8,141	11,895	25,400
Net income	18,534	32,650	75,665
Net income attributable to noncontrolling interests	1,303	3,414	2,114
Net income attributable to Landsea Homes Corporation	$ 17,231	$ 29,236	$ 73,551
Earnings per share:
Basic (in dollars per share)	$ 0.48	$ 0.75	$ 1.71
Diluted (in dollars per share)	$ 0.47	$ 0.75	$ 1.70
Weighted average shares outstanding:
Basic (in shares)	36,262,257	38,885,003	42,052,696
Diluted (in shares)	36,556,070	39,076,322	42,199,462
Home Sales
Revenue	$ 1,486,938	$ 1,169,867	$ 1,392,750
Total cost of sales	1,268,968	967,034	1,108,204
Gross margin	217,970	202,833	284,546
Lot Sales and other
Revenue	63,399	40,080	53,699
Total cost of sales	53,577	27,939	51,321
Gross margin	$ 9,822	$ 12,141	$ 2,378

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Retained earnings	Total stockholders' equity	Noncontrolling interests
Beginning Balance (in shares) at Dec. 31, 2021		46,281,091			620,147,000
Beginning balance at Dec. 31, 2021	$ 621,397	$ 5	$ 535,345	$ 84,797		$ 1,250
Increase (Decrease) in Shareholders' Equity
Shares issued under share-based awards (in shares)		228,529
Cash paid for shares withheld for taxes	(848)		(848)		$ (848)
Stock-based compensation expense	3,647		3,647		3,647
Contributions from noncontrolling interests	55,000					55,000
Distributions to noncontrolling interests	$ (3,995)					(3,995)
Repurchase of common stock (in shares)	(5,625,352)	(5,625,352)
Repurchase of common stock	$ (40,547)	$ (1)	(40,546)		(40,547)
Net income (loss)	75,665			73,551	$ 73,551	2,114
Ending Balance (in shares) at Dec. 31, 2022		40,884,268			655,950,000
Ending balance at Dec. 31, 2022	710,319	$ 4	497,598	158,348		54,369
Increase (Decrease) in Shareholders' Equity
Shares issued under share-based awards (in shares)		267,782
Stock options exercised (in shares)		3,877
Stock options exercised	37		37		$ 37
Cash paid for shares withheld for taxes	(695)		(695)		(695)
Stock-based compensation expense	3,088		3,088		3,088
Distributions to noncontrolling interests	(22,309)					(22,309)
Repurchase of common stock (in shares)		(3,635,033)
Repurchase of common stock	(34,738)		(34,738)		(34,738)
Forfeiture and cancellation of Earnout Shares (in shares)		(1,000,000)
Net income (loss)	$ 32,650			29,236	$ 29,236	3,414
Ending Balance (in shares) at Dec. 31, 2023	36,520,894	36,520,894			652,878,000
Ending balance at Dec. 31, 2023	$ 688,352	$ 4	465,290	187,584		35,474
Increase (Decrease) in Shareholders' Equity
Shares issued under share-based awards (in shares)		188,449
Stock options exercised (in shares)		141,948
Stock options exercised	1,359		1,359		$ 1,359
Cash paid for shares withheld for taxes	(1,299)		(1,299)		(1,299)
Stock-based compensation expense	3,522		3,522		3,522
Distributions to noncontrolling interests	(27,850)					(27,850)
Repurchase of common stock (in shares)		(534,436)
Repurchase of common stock	(6,509)		(6,509)		(6,509)
Net income (loss)	$ 18,534			17,231	$ 17,231	1,303
Ending Balance (in shares) at Dec. 31, 2024	36,316,855	36,316,855			667,182,000
Ending balance at Dec. 31, 2024	$ 676,109	$ 4	$ 462,363	$ 204,815		$ 8,927

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 18,534	$ 32,650	$ 75,665
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,366	5,104	5,549
Loss on remeasurement of warrant liability	0	0	7,315
Stock-based compensation expense	3,522	3,088	3,647
Loss on modification or extinguishment of debt	5,180	0	2,496
Real estate inventories impairment and abandoned project costs	2,916	5,698	650
Write off of offering costs	729	436	0
Deferred taxes	2,765	(4,917)	(6,299)
Changes in operating assets and liabilities:
Cash held in escrow	45,170	(31,990)	(13,022)
Real estate inventories	(64,991)	(29,543)	(12,846)
Due from affiliates	3,929	(604)	721
Other assets	2,750	33,738	(53,930)
Accounts payable	5,907	3,523	(5,617)
Accrued expenses and other liabilities	(4,175)	9,987	13,139
Due to affiliates	0	(3)	(1,473)
Net cash provided by operating activities	29,602	27,167	15,995
Cash flows from investing activities:
Purchases of property and equipment	(5,859)	(7,478)	(5,469)
Distributions of capital from unconsolidated joint ventures	0	0	578
Payments for business acquisition, net of cash acquired	(235,043)	0	(258,727)
Net cash used in investing activities	(240,902)	(7,478)	(263,618)
Cash flows from financing activities:
Borrowings from notes and other debts payable	708,647	547,500	281,612
Repayments of notes and other debts payable	(517,879)	(504,300)	(240,228)
Cash paid for shares withheld for taxes	(1,299)	(695)	(848)
Payment for buyback of warrants	0	0	(16,500)
Proceeds from exercise of stock options	1,359	37	0
Repurchases of common stock	(6,452)	(34,417)	(40,547)
Contributions from noncontrolling interests	0	0	55,000
Distributions to noncontrolling interests	(27,850)	(22,309)	(3,995)
Deferred offering costs paid	(3,053)	(224)	(2,605)
Debt issuance and extinguishment costs paid	(8,406)	(9,360)	(3,885)
Net cash provided by (used in) financing activities	145,067	(23,768)	28,004
Net decrease in cash and cash equivalents	(66,233)	(4,079)	(219,619)
Cash and cash equivalents at beginning of year	119,555	123,634	343,253
Cash and cash equivalents at end of year	$ 53,322	$ 119,555	$ 123,634

Company

Company	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company	Company and Summary of Significant Accounting PoliciesLandsea Homes Corporation (together with its subsidiaries, “Landsea Homes” or the “Company”) is engaged in the acquisition, development, and sale of homes and lots within its six reportable segments of Arizona, California, Colorado, Florida, Metro New York, and Texas.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Basis of Presentation and Consolidation —The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and all subsidiaries, partnerships and other entities in which the Company has a controlling interest and variable interest entities (“VIEs”) in which the Company is deemed the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. Management of the Company believes that the assumptions underlying the consolidated financial statements reasonably reflect the utilization of services provided, or benefits received by the Company during the periods presented. Nevertheless, the consolidated financial statements may not be indicative of the Company’s future performance. Use of Estimates —The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ materially from these estimates. Cash and Cash Equivalents —The Company defines cash and cash equivalents as demand deposits with financial institutions and short-term liquid investments with a maturity date of less than three months from the date of purchase. Cash Held in Escrow— Cash held in escrow consists of proceeds from home closings held in escrow for the Company’s benefit, typically for less than five days. Real Estate Inventories and Cost of Sales —Real estate inventories include actively selling projects as well as projects under development or held for future development. Inventories are stated at cost, unless the carrying amount is determined not to be recoverable, in which case inventory is written down to its fair value. The Company capitalizes pre-acquisition costs, land deposits, land, development, and other allocated costs, including interest, property taxes, and indirect construction costs to real estate inventories. Pre-acquisition costs, including non-refundable land deposits, are removed from inventory and expensed to other income, net, if the Company determines continuation of the prospective project is not probable. Land, development, and other common costs are typically allocated to real estate inventories using a methodology that is either based on area methods such as lot size or width or, where practicable, the relative sales value method. Other value methods may be used as appropriate under the circumstances. Home construction costs per production phase are recorded using the specific identification method. Cost of sales for homes closed includes construction costs of each home, an allocation of applicable land acquisition, land development, and related common costs, plus an estimate of any applicable costs required to complete the home or common area development. Changes in estimated development and common costs are allocated prospectively to remaining homes in a project. The Company reviews real estate inventories on a periodic basis or whenever indicators of impairment exist. If there are indicators of impairment, the Company performs a detailed budget and cash flow review of the applicable real estate inventories to determine whether the estimated undiscounted future cash flows of the project are more or less than the asset’s carrying value. If the estimated undiscounted future cash flows are more than the asset’s carrying value, no impairment adjustment is required. However, if the estimated undiscounted future cash flows are less than the asset’s carrying value, the asset is written down to fair value and impairment charges are recorded to cost of sales. We generally determine the estimated fair value of each community by using a discounted cash flow approach based on the estimated future cash flows at discount rates that reflect the risk of the community being evaluated. When estimating future cash flows of a project, the Company makes various assumptions including estimated future home sales revenue, sales absorption rates, land development and construction costs, carrying costs, and direct selling and marketing costs. The discounted cash flow approach can be impacted significantly by the Company’s estimates of future cash flows and the applicable discount rate, which are Level 3 inputs. The key assumptions used in real estate inventories valuations are subject to a variety of external factors and are inherently uncertain. It is reasonably possible that changes in market conditions could change the Company’s estimates of future cash flows, leading to different conclusions. Accordingly, actual results could differ from valuation estimates. See Note 4 – Real Estate Inventories for additional information. Capitalization of Interest —The Company follows the practice of capitalizing interest to real estate inventories during the period of development in accordance with ASC 835, Interest . Interest capitalized as a component of real estate inventories is included in cost of sales as related homes or lots are delivered to customers. To the extent the Company’s debt exceeds its qualified assets as defined in ASC 835, the Company would expense a portion of the interest incurred. Qualified assets represent projects that are under development. Business Combinations —Acquisitions are accounted for in accordance with ASC 805, Business Combinations . In connection with the Company’s recent acquisitions, management determined in each case that the Company obtained control of a business including inputs, processes, and outputs in exchange for cash consideration. All material assets and liabilities were measured and recognized at fair value as of the date of the acquisition. Any excess of the purchase price over the estimated fair values of the identifiable net assets acquired is recorded as goodwill. Significant judgment is often required in estimating the fair value of assets acquired, particularly intangible assets. The fair value of acquired real estate inventories largely depends on the stage of production of the acquired land and work in process inventory. For acquired land and land options, the Company typically utilizes, with the assistance of a third-party valuation specialist, a sales comparison approach. For work in process inventories, the Company, with the assistance of a third-party valuation specialist, estimates the fair value based upon the stage of production of each unit and a gross margin that the Company believes a market participant would require to complete the remaining development and requisite selling efforts. Refer to Note 2 – Business Combinations and Asset Acquisitions for further information regarding the purchase price allocation and related acquisition accounting. Variable Interest Entities —The Company accounts for variable interest entities in accordance with ASC 810, Consolidation . Under ASC 810, a VIE is created when: (a) the equity investment at risk in the entity is not sufficient to permit the entity to finance its activities without additional subordinated financial support provided by other parties, including the equity holders; (b) the entity’s equity holders as a group either (i) lack the direct or indirect ability to direct the activities of an entity that most significantly impact the entity’s economic performance, (ii) are not obligated to absorb expected losses of the entity or (iii) do not have the right to receive expected residual returns of the entity; or (c) the entity’s equity holders have voting rights that are not proportionate to their economic interests, and the activities of the entity involve or are conducted on behalf of the equity holder with disproportionately few voting rights. If an entity is deemed to be a VIE pursuant to ASC 810, the enterprise that has both (i) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (ii) the obligation to absorb the expected losses of the entity or right to receive benefits from the entity that could be potentially significant to the VIE is considered the primary beneficiary and must consolidate the VIE. Under ASC 810, a non-refundable deposit paid to an entity may be deemed to be a variable interest that will absorb some or all of the entity’s expected losses if they occur. The Company’s land purchase and lot option deposits generally represent its maximum exposure to the land seller if it elects not to purchase the optioned property. Therefore, whenever the Company enters into a land option or purchase contract with an entity and makes a non-refundable deposit, a VIE may have been created. As of December 31, 2024 and 2023, the Company consolidated two joint venture VIEs. Refer to Note 3 – Variable Interest Entities for further information regarding VIEs. Goodwill— The excess of the purchase price of a business acquisition over the net fair value of assets acquired and liabilities assumed is capitalized as goodwill if the acquisition is determined to be accounted for as a business combination. Goodwill and any other intangible assets that do not have finite lives are not amortized, but rather assessed for impairment at least annually. The Company performs an annual impairment test during the fourth quarter or whenever impairment indicators are present using a two-step process to assess whether or not goodwill should be impaired. The first step is a qualitative assessment that analyzes current economic indicators associated with a particular reporting unit. If the qualitative assessment indicates a stable or improved fair value, no further testing is required. If a qualitative assessment indicates that a significant decline to fair value of a reporting unit is more likely than not, or, at the Company’s election, the Company will proceed to the second step to calculate the fair value of the reporting unit based on discounted future cash flows and market comparisons. If this step indicates that the carrying value of a reporting unit is in excess of its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. There was no goodwill impairment recorded during the years ended December 31, 2024, 2023, and 2022. Property and Equipment —Property and equipment are recorded at cost and depreciated to general and administrative expense using the straight-line method over their estimated useful lives, typically ranging from two Capitalized Selling and Marketing Costs —In accordance with ASC 606, Revenue from Contracts with Customers , and ASC 340, Other Assets and Deferred Cost, costs incurred for tangible assets directly used in the sales process such as the Company’s sales offices, and model landscaping and furnishings are capitalized to property and equipment which is included in other assets in the accompanying consolidated balance sheets. These costs are amortized to selling and marketing expenses generally over the estimated life of the selling community. For the years ended December 31, 2024, 2023, and 2022 the Company incurred amortization expense of $3.5 million, $2.6 million, and $0.6 million, respectively. All other selling and marketing costs, such as commissions and advertising, are expensed as incurred. Advertising and marketing costs of $10.6 million, $6.9 million, and $5.1 million for the years ended December 31, 2024, 2023, and 2022, respectively, are included in sales and marketing expenses on the consolidated statements of operations. Warranty Accrual —The Company provides home purchasers with limited warranties against certain building defects and has certain obligations related to those post-construction warranties for closed homes. The specific terms and conditions of these limited warranties vary depending upon the markets in which we do business, but generally the Company provides all of its homebuyers with a limited warranty as to workmanship and mechanical equipment and also provide many of its homebuyers with a limited 10-year warranty as to structural integrity. Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related homebuilding revenues are recognized. Amounts are accrued based upon the Company’s historical rates of warranty claims. Historical experience of the Company’s peers is also considered due to the Company’s limited internal history of homebuilding sales. The adequacy of the warranty accrual is assessed on a quarterly basis to reflect changes in trends as information becomes available and the amounts recorded are adjusted if necessary. The warranty accrual is included in accrued expenses and other liabilities in the accompanying consolidated balance sheets and adjustments to the accrual are recorded through cost of sales. Warrant Liability —The Company accounted for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480, Distinguishing Liabilities from Equity , and ASC 815, Derivatives and Hedging . For issued or modified warrants that did not meet all the criteria for equity classification, the warrants were recorded as liabilities at their initial fair value on the date of issuance or assumption and remeasured to fair value at each balance sheet date thereafter. The Company’s Private Placement Warrants were previously presented on the consolidated balance sheets as a liability recorded at fair value with subsequent changes in fair value recognized in the consolidated statement of operations at each reporting date as a loss or gain on remeasurement of the warrant liability. The fair value of the Private Placement Warrants was estimated using a Black-Scholes option pricing model which included assumptions used in the model that were subjective and required significant judgment, including implied volatility, which was a Level 3 input. Each Private Placement Warrant was exercisable at $11.50 into one share of common stock. In June 2022, all of the outstanding Private Placement Warrants were repurchased by the Company. Refer to Note 15 – Stockholders’ Equity for additional information on the Warrants. The fair value of the Private Placement Warrants is discussed further in Note 13 – Fair Value . Home Sales Revenue— Home sales revenue is recognized when the Company’s performance obligations within the underlying sales contracts are fulfilled. The Company considers its obligations fulfilled when closing conditions are complete, title has transferred to the homebuyer, and collection of the purchase price is reasonably assured. Sales incentives are recorded as a reduction of revenue when the respective home is closed. When it is determined that the earnings process is not complete, the related revenue is deferred for recognition in future periods. Lot Sales and Other Revenue— Revenues from lot sales and other revenue are recorded and a margin is recognized when performance obligations are satisfied, which includes transferring a promised good or service to a customer. Lot sales and other revenue is recognized when all conditions of escrow are met, including delivery of the real estate asset in the agreed-upon condition, passage of title, receipt of appropriate consideration, and collection of associated receivables, if any, is probable, and other applicable criteria are met. Based upon the terms of the agreement, when it is determined that the performance obligations are not satisfied, the sale and the related margin are deferred for recognition in future periods. Under the terms of certain lot sale and other contracts, the Company is obligated to perform certain development activities after the close of escrow. Due to this continuing involvement, the Company recognizes lot sales and other revenue under the percentage-of-completion method. Revenue is then recognized in proportion to total costs incurred divided by total costs expected to be incurred. Stock-Based Compensation Expense —In accordance with ASC 718, Compensation—Stock Compensation , stock-based compensation expense for all share-based payment awards is based on the grant date fair value. The Company recognizes expense for share-based payment awards with only service-based vesting conditions on a straight-line basis over the requisite service period of the award. Expense associated with awards that include a performance-based vesting condition is not recognized until it is determined that it is probable the performance-based conditions will be met. When the achievement of performance-based conditions is probable, a catch-up of expense will be recorded as if the award had been vesting on a straight-line basis from the award date. The award will continue to be expensed on a straight-line basis, adjusted for probability, until the award vests or expires as worthless. Income Taxes— The Company records income taxes in accordance with ASC 740, Income Taxes , whereby deferred tax assets and liabilities are recognized based on the differences in the book and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates that are expected to apply in the years that the differences are expected to reverse. The Company adjusts deferred tax assets and liabilities for the effects of changes in tax laws and rates in the period of enactment. Tax credits are recognized through the effective tax rate calculation assuming that the Company will be able to realize the full benefit of the credits. Each year the Company assesses its deferred tax asset to determine whether all or any portion of the asset is more likely than not (defined as a likelihood of more than 50%) to be unrealizable under ASC 740. The Company is required to establish a valuation allowance for any portion of the tax asset determined to be more likely than not unrealizable. The ultimate realization of deferred tax assets depends primarily on the generation of future taxable income during the periods in which the differences become deductible. Judgment is required in determining the future tax consequences of events that have been recognized in the Company’s consolidated financial statements and/or tax returns. Differences between anticipated and actual outcomes of these future tax consequences could have a material impact on the Company’s consolidated financial statements. Recent Accounting Pronouncements In March 2023, the FASB issued ASU 2023-01, which amends the application of ASU 2016-02, Leases (Topic 842) , related to leases with entities under common control, also referred to as common control leases. The amendments to this update require an entity to consider the useful life of leasehold improvements associated with common control leases from the perspective of the common control group and amortize the leasehold improvements over the useful life of the assets to the common control group, instead of the term of the lease. Any remaining value for the leasehold improvement at the end of the lease would be adjusted through equity. The standard is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. The adoption did not have a material impact on the Company’s consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires disclosure of additional segment information. These additional requirements include significant expenses, other segment items to reconcile segment revenue and significant expenses to the reported measure of segment profit or loss, a description of the composition of the other segment items, and the title and position of the entity’s chief operating decision maker (“CODM”). The amendments in this update also expand the segment disclosure requirements to interim periods. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption was permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. The Company adopted this guidance and updated the reportable segment disclosure presentation accordingly, refer to Note 12 – Segment Reporting for additional information. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires annual disclosure of specific categories in the income tax rate reconciliation and of additional information for reconciling items that meet a quantitative threshold among other changes. Specifically, the guidance requires a tabular reconciliation disclosure, using both percentages and amounts. The guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses . This ASU requires that, at each interim and annual reporting period, an entity disclose in the notes to the financial statements certain costs and expenses. The guidance is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

Business Combinations and Asset

Business Combinations and Asset Acquisitions	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combinations and Asset Acquisitions	Business Combinations and Asset Acquisitions On April 1, 2024, the Company completed the acquisition of Antares Acquisition, LLC (“Antares”), a Dallas-Fort Worth based homebuilder, for approximately $239.8 million (subject to certain customary post-closing adjustments) using a combination of cash on hand and borrowings under the Company’s existing credit facility, which included repayment of approximately $40.2 million of Antares debt. The total assets of Antares included approximately 2,100 lots owned or controlled in the Dallas-Fort Worth market. This acquisition was accounted for as a business combination. In accordance with ASC 805, the assets acquired and liabilities assumed from the acquisition of Antares were measured and recognized at fair value as of the date of the acquisition to reflect the purchase price paid. Acquired inventories consist of land, land deposits, and work in process inventories. For acquired land and land options, the Company typically utilizes, with the assistance of a third-party appraiser, a sales comparison approach. For work in process inventories, the Company, with the assistance of a third-party valuation specialist, estimates the fair value based upon the stage of production of each unit and a gross margin that management believes a market participant would require to complete the remaining development and requisite selling efforts. On the acquisition date, the stage of production for each lot ranged from recently started lots to fully completed homes. The intangible assets acquired relate to the Antares trade name and material contracts, which are estimated to have a fair value of $2.0 million and are being amortized over 12 to 18 months. Goodwill represents the excess of the purchase price over the fair value of assets acquired and liabilities assumed and relates primarily to the assembled workforce and business synergies. Goodwill of $87.0 million was recorded on the consolidated balance sheets as a result of this transaction and is expected to be deductible for tax purposes over 15 years. The acquired goodwill is included in the Texas reporting segment in Note 12 – Segment Reporting . The Company incurred transaction related costs of $3.6 million related to the Antares acquisition during the twelve months ending December 31, 2024. These transaction costs are included in general and administrative expenses on the consolidated statements of operations. Measurement period adjustments were recorded through December 31, 2024 resulting from updated valuations of real estate assets acquired. The adjustments were determined based on additional information received and resulted in an increase to goodwill of $3.3 million. The Company’s results of operations include homebuilding revenues from the Antares Acquisition of $131.4 million for the year ended December 31, 2024. The accompanying results of operations also include pretax loss of $1.6 million from the Antares Acquisition during the year ended December 31, 2024. The pretax loss is inclusive of purchase price accounting and an allocation of corporate general and administrative expenses. The following is a summary of the allocation of the purchase price based on the fair value of assets acquired and liabilities assumed (dollars in thousands) . Assets Acquired Cash $ 4,760 Real estate inventories 154,004 Goodwill 86,958 Trade name 1,950 Other assets 4,539 Total assets $ 252,211 Liabilities Assumed Accounts payable $ 2,472 Accrued expenses 9,936 Total liabilities 12,408 Net assets acquired $ 239,803 On October 10, 2023, the Company expanded into the Colorado market by acquiring certain assets of Richfield Homes, LLC (“Richfield”). The Company paid an aggregate cash purchase price of $22.5 million to acquire approximately 290 owned or controlled lots in the greater Denver, Colorado area, including any construction in progress on those lots. This acquisition was accounted for as an asset acquisition. On January 18, 2022, the Company acquired 100% of Hanover Family Builders, LLC (“Hanover”), a Florida-based homebuilder, for an aggregate cash purchase price, net of working capital adjustments, of $262.6 million (the “Hanover Acquisition”). The aggregate purchase price included a pay-off of $69.3 million related to debt held by Hanover and a payment of $15.6 million for land-related deposits. The total assets of Hanover included approximately 20 development projects and 3,800 lots owned or controlled in various stages of development. The intangible asset acquired relates to the Hanover trade name, which was estimated to have a fair value of $1.6 million and was amortized over one year. Goodwill of $44.2 million was recorded on the consolidated balance sheets as a result of this transaction and is expected to be deductible for tax purposes over 15 years. The acquired goodwill is included in the Florida reporting segment in Note 12 – Segment Reporting . The Company incurred transaction related costs of $0.7 million related to the Hanover Acquisition during the year ended December 31, 2022. The Company’s results of operations include homebuilding revenues from the Hanover Acquisition of $334.0 million for the year ended December 31, 2022. The accompanying results of operations also include pretax income of $20.1 million from the Hanover Acquisition during the year ended December 31, 2022. The pretax income is inclusive of purchase price accounting and an allocation of corporate general and administrative expenses. The following is a summary of the allocation of the purchase price based on the fair value of assets acquired and liabilities assumed (dollars in thousands) . Assets Acquired Cash $ 3,857 Real estate inventories 232,071 Goodwill 44,182 Trade name 1,590 Other assets 378 Total assets $ 282,078 Liabilities Assumed Accounts payable $ 6,329 Accrued expenses 13,165 Total liabilities 19,494 Net assets acquired $ 262,584 Unaudited Pro Forma Financial Information Unaudited pro forma revenue and net income for the years ended December 31, 2024, 2023, and 2022 give effect to the results of the acquisitions of Antares and Hanover as though the respective acquisition dates were as of January 1, 2023 and January 1, 2021, the beginning of the year preceding the respective acquisitions. Unaudited pro forma net income adjusts the operating results of the stated acquisitions to reflect the additional costs that would have been recorded assuming the fair value adjustments had been applied as of the beginning of the year preceding the year of acquisition, including the tax-effected amortization of the acquired trade names and transaction related costs. Year Ended December 31, 2024 2023 2022 Revenue $ 1,592,993 $ 1,381,089 $ 1,451,558 Pretax income 47,133 41,782 151,846 Provision for income taxes (14,043) (11,157) (38,163) Net income $ 33,090 $ 30,625 $ 113,683

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities The Company consolidates two joint venture (“JV”) VIEs. The consolidated VIEs include one active project in the Metro New York area (“14 th Ave JV”) and one JV with the purpose of acquiring undeveloped land (the “LCF JV”). The Company has determined that it is the primary beneficiary of these VIEs as it has the power to direct activities of the operations that most significantly affect their economic performance. Both consolidated VIEs are financed by equity contributions from the Company and the JV partner. The 14 th Ave JV was also funded by third-party debt which was paid off in 2022. The following table summarizes the carrying amount and classification of the VIEs’ assets and liabilities in the consolidated balance sheets as of December 31, 2024 and 2023. December 31, 2024 December 31, 2023 (dollars in thousands) Cash $ 5,068 $ 2,950 Real estate inventories 19,987 79,441 Due from affiliates 8 203 Other assets 29,417 2,107 Total assets $ 54,480 $ 84,701 Accounts payable $ 266 $ 384 Accrued expenses and other liabilities 4,562 5,257 Total liabilities $ 4,828 $ 5,641

Real Estate Inventories

Real Estate Inventories	12 Months Ended
	Dec. 31, 2024
Real Estate Inventories [Abstract]
Real Estate Inventories	Real Estate Inventories Real estate inventories are summarized as follows: December 31, 2024 2023 (dollars in thousands) Deposits and pre-acquisition costs $ 96,611 $ 99,702 Land held and land under development 492,707 272,825 Homes completed or under construction 729,335 692,126 Model homes 20,429 57,073 Total real estate inventories $ 1,339,082 $ 1,121,726 Deposits and pre-acquisition costs include land deposits and other due diligence costs related to potential land acquisitions. Land held and land under development includes costs incurred during site development such as development, indirect costs, and permits. Homes completed or under construction and model homes include all costs associated with home construction, including land, development, indirect costs, permits, materials and labor. In accordance with ASC 360, Property, Plant, and Equipment , real estate inventories are stated at cost, unless the carrying amount is determined not to be recoverable, in which case inventory is written down to its fair value. The Company reviews each real estate asset at the community-level, on a quarterly basis or whenever indicators of impairment exist. The Company generally determines the estimated fair value of each community by using a discounted cash flow approach based on the estimated future cash flows at discount rates that reflect the risk of the community being evaluated. The discounted cash flow approach can be impacted significantly by the Company’s estimates of future home sales revenue, home construction costs, pace of home sales, and the applicable discount rate. During the year ended December 31, 2024, the Company recorded $0.8 million of real estate inventories impairment charges related to one community in its Florida segment. During the year ended December 31, 2023, the Company recorded $4.7 million of real estate inventories impairment charges related to one community in its California segment. In both instances, the Company determined that additional incentives and persistent discounts were required to sell the remaining homes. This was the primary reason the estimated future cash flows for the communities were driven below their previous carrying values. During the year ended December 31, 2022, the Company did not recognize any impairments on real estate inventories. Real estate inventories impairment charges are recorded to cost of home sales in the consolidated statements of operations. The table below provides quantitative data for Level 3 inputs used in determining the fair value of the impaired inventory. The table presents the quarter during the respective year in which the impairment occurred. Impairment Data Quantitative Data Three Months Ended Number of Projects Impaired Real Estate Inventories Impairment Fair Value of Inventory After Impairment Discount Rate (dollars in thousands) September 30, 2024 1 $ 800 $ 5,828 13 % June 30, 2023 1 $ 4,700 $ 19,363 11 %

Capitalized Interest

Capitalized Interest	12 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Capitalized Interest	Capitalized Interest Interest is capitalized to real estate inventories during development and other qualifying activities. Interest capitalized as a cost of real estate inventories is included in cost of sales as related inventories are delivered. For the years ended December 31, 2024, 2023, and 2022, the Company incurred and capitalized interest of $78.7 million, $52.2 million, and $35.6 million, respectively. Previously capitalized interest included in cost of sales during the years ended December 31, 2024, 2023, and 2022 was $61.0 million, $36.3 million, and $40.5 million, respectively. These amounts included interest from certain related party transactions, refer to Note 10 – Related Party Transactions for additional information.

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consist of the following: December 31, 2024 2023 (dollars in thousands) Property and equipment, net (1) $ 41,073 $ 12,663 Warranty and general liability insurance receivables (2) 27,280 27,406 Right-of-use asset 23,358 11,869 Deferred tax asset, net 15,721 18,486 Prepaid expenses 14,327 8,993 Contract assets 3,860 5,954 Project funds in escrow 2,306 2,388 Prepaid income taxes 1,556 — Intangible asset, net 757 — Other 18,758 20,114 Total other assets $ 148,996 $ 107,873 (1) Property and equipment is net of $22.1 million and $15.8 million accumulated depreciation as of December 31, 2024 and 2023, respectively. (2) Insurance recoveries not yet received from our insurers are recorded on a gross basis, without any reduction for the associated warranty liability. Refer to the Warranty section in Note 7 – Accrued Expenses and Other Liabilities for additional information.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following: December 31, 2024 2023 (dollars in thousands) Land development and home construction accrual $ 59,758 $ 51,478 Warranty reserve and general liability 50,342 48,949 Land bank finance liability 29,431 — Lease liabilities 24,494 13,070 Accrued compensation and benefits 16,476 26,029 Interest payable 10,236 2,775 Homebuyer deposits 6,948 8,227 Sales tax payable 1,600 1,646 Income tax payable — 4,636 Deferred revenue 384 180 Other deposits and liabilities 12,976 3,266 Total accrued expenses and other liabilities $ 212,645 $ 160,256 As of December 31, 2024 and 2023, the Company had $0.4 million and $0.2 million, respectively, of deferred revenue related to lot sales and other revenue included in accrued expenses and other liabilities in the consolidated balance sheets. The Company reduces these liabilities and recognizes revenue as development progresses and the related performance obligations are completed. Warranty —Estimated future direct warranty reserve and general liability costs are accrued and charged to cost of sales in the period when the related homebuilding revenues are recognized. Changes in the Company’s warranty reserve and general liability are detailed in the table below: December 31, 2024 2023 (dollars in thousands) Beginning warranty reserve and general liability $ 48,949 $ 46,657 Provision (1) 9,909 10,457 Payments (8,516) (8,165) Ending warranty reserve and general liability $ 50,342 $ 48,949

Notes and Other Debts Payable,

Notes and Other Debts Payable, net	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Notes and Other Debts Payable, net	Notes and Other Debts Payable, net Amounts outstanding under notes and other debts payable, net consist of the following: December 31, 2024 2023 (dollars in thousands) 11.0% Senior Notes due July 2028 $ 250,000 $ 250,000 8.875% Senior Notes due April 2029 300,000 — Discount and deferred loan costs (19,081) (13,857) Senior Notes, net $ 530,919 $ 236,143 December 31, 2024 2023 (dollars in thousands) Line of credit facility $ 199,000 $ 315,000 Deferred loan costs (4,565) (7,369) Line of credit facility, net $ 194,435 $ 307,631 In April 2024, the Company completed the sale to certain purchasers of $300.0 million of 8.875% senior notes (the “8.875% Senior Notes”). The Company received the proceeds, net of fees, in April 2024. The 8.875% Senior Notes mature in April 2029. In July 2023, the Company entered into a new senior unsecured note (the “Note Purchase Agreement”). The Note Purchase Agreement provided for the private placement of $250.0 million aggregate principal amount of 11.0% senior notes (the “11.0% Senior Notes”, together with the 8.875% Senior Notes, the “Senior Notes”). The Company received the proceeds, net of discount and fees, in July 2023. The 11.0% Senior Notes mature in July 2028. In October 2021, the Company entered into a line of credit agreement which was amended in April 2024 (the “Amended Credit Agreement”). The Amended Credit Agreement provides for a senior unsecured borrowing of up to $455.0 million of which there was $199.0 million outstanding as of December 31, 2024. As part of the amendment, the Company wrote off $5.2 million of previously deferred financing costs associated with the line of credit facility prior to the amendment. This write-off is included in other (expense) income, net on the consolidated statements of operations. The Company may increase the borrowing capacity up to $850.0 million, under certain conditions. Funds available under the Amended Credit Agreement are subject to a borrowing base requirement which is calculated on specified percentages of our real estate inventories. The borrowings under the Amended Credit Agreement bear interest at a daily simple Secured Overnight Financing Rate (“SOFR”) rate, a term SOFR rate, or a base rate (in each case calculated in accordance with the Amended Credit Agreement), plus, in each case, an applicable margin. The applicable margin is adjusted by reference to a grid based on a leverage ratio calculated in accordance with the Amended Credit Agreement. As of December 31, 2024, the applicable margin was 3.30%. The Amended Credit Agreement matures in April 2027. As of December 31, 2024, the interest rate on the loan was 7.71%. The Amended Credit Agreement and the Note Purchase Agreement contain certain restrictive financial covenants, such as requirements for the Company to maintain a minimum liquidity balance, minimum tangible net worth, and leverage and interest coverage ratios. The Amended Credit Agreement was modified in February 2025 to lower the interest coverage ratio covenant from 2.00 to 1.75 until March 31, 2026, at which point it reverts to the original 2.00 covenant requirement. This modification was retroactive to the measurement of the covenants as of December 31, 2024. The 8.875% Senior Notes do not contain financial covenants. As of December 31, 2024, the Company was in compliance with all financial covenants. Our Senior Notes are not secured, however, the agreements governing the Senior Notes contain some restrictions on secured debt and other transactions. Our Senior Notes are fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by most of our homebuilding segment subsidiaries. The Senior Notes are redeemable for cash in whole or in part at any time at our option, with a standard make whole provision until July 17, 2025 for the 11.0% Senior Notes and April 1, 2026 for the 8.875% Senior Notes, then at premiums that vary based upon the remaining term of the Senior Notes to be redeemed. In addition, the Company previously had one project-specific construction loan. In April 2022, the construction loan was repaid in full with proceeds from borrowings under the line of credit facility. In connection with this payoff, the Company incurred $2.5 million of debt extinguishment fees which are included in other income, net, in the consolidated statements of operations during the year ended December 31, 2022. The aggregate maturities of the principal balances of the notes and other debts payable subsequent to December 31, 2024 are as follows (dollars in thousands) : 2025 $ — 2026 — 2027 199,000 2028 250,000 2029 300,000 Thereafter — $ 749,000

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal —The Company is currently involved in various legal actions and proceedings that arise from time to time and may be subject to similar or other legal and/or regulatory actions in the future. The Company is currently unable to estimate the likelihood of an unfavorable result in any such proceeding that could have a material adverse effect on the Company’s results of operations, financial position, or liquidity. In the fourth quarter of 2021, three insurers paid $14.9 million on behalf of the Company and others to settle a wrongful death suit. The insurers contend they are entitled to seek reimbursement from the Company for some or all of such amounts, which the Company disputes. During October 2023, one of the insurers filed a lawsuit in Superior Court of the state of California, county of Orange, entitled Ironshore Specialty Insurance Company v Landsea Holding Corporation, et al. , seeking reimbursement and the two other insurers subsequently asserted reimbursement claims in the lawsuit. However, at this time the Company is unable to predict the outcome of the insurers’ claims against the Company or estimate the amount of any potential damages associated therewith. Performance Obligations —In the ordinary course of business, and as part of the entitlement and development process, the Company’s subsidiaries are required to provide performance bonds to assure completion of certain public facilities. The Company had $125.0 million and $109.3 million of performance bonds outstanding at December 31, 2024 and 2023, respectively. Land Purchase Contracts —The Company enters into land purchase contracts to acquire land for the construction of homes. Under these contracts, the Company will fund a stated deposit in consideration for the right, but not the obligation, to purchase land at a future point in time with predetermined terms. Under the terms of some of the purchase contracts, the deposits are not refundable in the event the Company elects to terminate the contract. Land purchase contract deposits and capitalized pre-acquisition costs are expensed when the Company believes it is probable that it will not acquire the property under contract and will not be able to recover those costs through other means. As of December 31, 2024, the Company had total deposits of $94.1 million, of which $0.8 million are refundable, related to contracts to purchase land and lots with a total remaining purchase price of approximately $688.2 million, net of deposits. As of December 31, 2023, the Company had total deposits of $96.2 million, of which $1.0 million was refundable, related to contracts to purchase land and lots with a total remaining purchase price of approximately $663.1 million, net of deposits. The majority of land and lots under contract are currently expected to be purchased within the next four years. Operating Leases —The Company primarily enters into operating leases for the right to use office space, model homes, and computer and office equipment, which have remaining lease terms that range from less than 1 year up to 7 years and often include one or more options to renew. The weighted average remaining lease term as of December 31, 2024 and 2023 was 4.5 years and 5.7 years, respectively. Renewal terms are included in the lease term when it is reasonably certain the option will be exercised. During 2024, the Company sold model homes which generated home sales revenue of $69.5 million and cost of sales of $65.4 million during the twelve months ending December 31, 2024. These model homes were immediately leased back for terms ranging from 3 to 36 months. The Company determined that control of the model homes transferred to the buyer and, as a result, the transactions qualified as sales. All of the leases from the transactions are accounted for as operating leases and the Company recorded total right-of-use assets and lease liabilities of $14.6 million at the time of the transactions in the accompanying consolidated balance sheets. The Company established a right-of-use asset and a lease liability based on the present value of future minimum lease payments at the commencement date of the lease or, if subsequently modified, the date of modification for active leases. As the rate implicit in each lease is not readily determinable, the Company’s incremental borrowing rate is used in determining the present value of future minimum payments as of the commencement date. The weighted average rate as of December 31, 2024 and 2023 was 8.1% and 5.5%, respectively. Lease components and non-lease components are accounted for as a single lease component. As of December 31, 2024, the Company had $23.4 million and $24.5 million recognized as a right-of-use asset and lease liability, respectively, which are presented on the consolidated balance sheets within other assets and accrued expenses and other liabilities, respectively. As of December 31, 2023, the Company had $11.9 million and $13.1 million recognized as a right-of-use asset and lease liability, respectively. Operating lease expense for the years ended December 31, 2024, 2023, and 2022 was $3.2 million, $3.9 million, and $2.2 million, respectively, and is included in general and administrative expenses on the consolidated statements of operations. Future minimum payments under the non-cancelable operating leases in effect at December 31, 2024 were as follows (dollars in thousands) : 2025 $ 10,096 2026 6,613 2027 3,770 2028 2,576 2029 2,573 Thereafter 3,039 Total lease payments 28,667 Less: Discount (4,173) Present value of lease liabilities $ 24,494
Commitments and Contingencies	Commitments and Contingencies Legal —The Company is currently involved in various legal actions and proceedings that arise from time to time and may be subject to similar or other legal and/or regulatory actions in the future. The Company is currently unable to estimate the likelihood of an unfavorable result in any such proceeding that could have a material adverse effect on the Company’s results of operations, financial position, or liquidity. In the fourth quarter of 2021, three insurers paid $14.9 million on behalf of the Company and others to settle a wrongful death suit. The insurers contend they are entitled to seek reimbursement from the Company for some or all of such amounts, which the Company disputes. During October 2023, one of the insurers filed a lawsuit in Superior Court of the state of California, county of Orange, entitled Ironshore Specialty Insurance Company v Landsea Holding Corporation, et al. , seeking reimbursement and the two other insurers subsequently asserted reimbursement claims in the lawsuit. However, at this time the Company is unable to predict the outcome of the insurers’ claims against the Company or estimate the amount of any potential damages associated therewith. Performance Obligations —In the ordinary course of business, and as part of the entitlement and development process, the Company’s subsidiaries are required to provide performance bonds to assure completion of certain public facilities. The Company had $125.0 million and $109.3 million of performance bonds outstanding at December 31, 2024 and 2023, respectively. Land Purchase Contracts —The Company enters into land purchase contracts to acquire land for the construction of homes. Under these contracts, the Company will fund a stated deposit in consideration for the right, but not the obligation, to purchase land at a future point in time with predetermined terms. Under the terms of some of the purchase contracts, the deposits are not refundable in the event the Company elects to terminate the contract. Land purchase contract deposits and capitalized pre-acquisition costs are expensed when the Company believes it is probable that it will not acquire the property under contract and will not be able to recover those costs through other means. As of December 31, 2024, the Company had total deposits of $94.1 million, of which $0.8 million are refundable, related to contracts to purchase land and lots with a total remaining purchase price of approximately $688.2 million, net of deposits. As of December 31, 2023, the Company had total deposits of $96.2 million, of which $1.0 million was refundable, related to contracts to purchase land and lots with a total remaining purchase price of approximately $663.1 million, net of deposits. The majority of land and lots under contract are currently expected to be purchased within the next four years. Operating Leases —The Company primarily enters into operating leases for the right to use office space, model homes, and computer and office equipment, which have remaining lease terms that range from less than 1 year up to 7 years and often include one or more options to renew. The weighted average remaining lease term as of December 31, 2024 and 2023 was 4.5 years and 5.7 years, respectively. Renewal terms are included in the lease term when it is reasonably certain the option will be exercised. During 2024, the Company sold model homes which generated home sales revenue of $69.5 million and cost of sales of $65.4 million during the twelve months ending December 31, 2024. These model homes were immediately leased back for terms ranging from 3 to 36 months. The Company determined that control of the model homes transferred to the buyer and, as a result, the transactions qualified as sales. All of the leases from the transactions are accounted for as operating leases and the Company recorded total right-of-use assets and lease liabilities of $14.6 million at the time of the transactions in the accompanying consolidated balance sheets. The Company established a right-of-use asset and a lease liability based on the present value of future minimum lease payments at the commencement date of the lease or, if subsequently modified, the date of modification for active leases. As the rate implicit in each lease is not readily determinable, the Company’s incremental borrowing rate is used in determining the present value of future minimum payments as of the commencement date. The weighted average rate as of December 31, 2024 and 2023 was 8.1% and 5.5%, respectively. Lease components and non-lease components are accounted for as a single lease component. As of December 31, 2024, the Company had $23.4 million and $24.5 million recognized as a right-of-use asset and lease liability, respectively, which are presented on the consolidated balance sheets within other assets and accrued expenses and other liabilities, respectively. As of December 31, 2023, the Company had $11.9 million and $13.1 million recognized as a right-of-use asset and lease liability, respectively. Operating lease expense for the years ended December 31, 2024, 2023, and 2022 was $3.2 million, $3.9 million, and $2.2 million, respectively, and is included in general and administrative expenses on the consolidated statements of operations. Future minimum payments under the non-cancelable operating leases in effect at December 31, 2024 were as follows (dollars in thousands) : 2025 $ 10,096 2026 6,613 2027 3,770 2028 2,576 2029 2,573 Thereafter 3,039 Total lease payments 28,667 Less: Discount (4,173) Present value of lease liabilities $ 24,494

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company occasionally has transactions with related parties, including Landsea Holdings Corporation (“Landsea Holdings”) which previously majority-owned the Company. As of December 31, 2024, the Company had a net payable due to affiliates of $0.5 million. As of December 31, 2023, the Company had a net receivable due from affiliates of $3.5 million. A description of recent related party transactions is included below. In December 2024, Landsea Holdings and Ever Fast Holdings Limited (“Ever Fast”), which were related parties of the Company at such time, completed a registered secondary offering of the Company’s common stock. The Company did not participate in purchasing any of the offered shares. The Company did not receive any of the proceeds from this secondary offering, except that Landsea Holdings paid the Company approximately $4.3 million, net of transaction closing fees, using funds received from the secondary offering. The payment represented a reimbursement for various services previously provided by the Company to Landsea Holdings. Upon the closing of this transaction, the Company wrote-off the remaining $0.8 million previously due from Landsea Holdings. Ever Fast no longer qualified as a related party upon the completion of the offering. The Company paid costs, fees, and expenses for the offering of $0.4 million and $0.3 million on behalf of Landsea Holdings and Ever Fast, respectively. The Company expects to be reimbursed by Ever Fast for the costs paid on its behalf. Following this transaction, Landsea Holdings ownership was reduced to 17% of the Company’s outstanding common stock as of December 31, 2024. In March 2024, Landsea Holdings, the Company’s then-majority stockholder, completed a registered secondary offering of the Company’s common stock. The Company did not purchase any shares of common stock that were sold by Landsea Holdings in the offering. The Company paid costs, fees, and expenses for the offering of $0.6 million, and Landsea Holdings received all net proceeds from the sale. Landsea Holdings no longer owns greater than 50% of the Company’s common stock upon completion of the offering. As a result, the Company no longer qualifies as a “controlled company” under The Nasdaq Stock Market LLC listing standards. In August 2023, the Company repurchased from the underwriters, at the public offering price of $9.75 per share, 800,000 shares of common stock that were sold by Green Investment Alpha Limited, a beneficial owner of the Company, in a registered secondary offering, for a total purchase price of $7.8 million. The Company paid costs, fees, and expenses for the offering of $0.3 million, and Green Investment received all net proceeds from the sale. In October 2024, Green Investment reimbursed the Company for the costs, fees, and expenses incurred during the offering. Green Investment no longer qualified as a related party upon the completion of the offering. In June 2023, the Company repurchased from the underwriters, at the public offering price of $7.50 per share, 443,478 shares of common stock that were sold by Landsea Holdings in a registered secondary offering, for a total purchase price of $3.3 million. The Company paid costs, fees, and expenses for the offering of $0.8 million, and Landsea Holdings received all net proceeds from the offering. During the year ended December 31, 2022, the Company sold one home to an officer of the Company and one home to a family member of a significant shareholder of the Company. The Company recognized home sales revenue of $4.0 million and costs of sales of $3.5 million from these transactions. In June 2022, the Company entered into two transactions with Landsea Holdings. On June 1, 2022, the board of directors authorized the Company to buy back 4.4 million shares of common stock held by Landsea Holdings. The Company paid $30.0 million at a price of $6.82 per share, a discount of 5% compared to the closing price on May 31, 2022 of $7.18. Additionally, the Company repurchased all 5.5 million outstanding Private Placement Warrants, of which Landsea Holdings held 2.2 million. The Company paid Landsea Holdings $6.6 million at $3.00 per Private Placement Warrant. In addition, 2.8 million of the repurchased Private Placement Warrants were held by Level Field Capital, LLC, a related party that is controlled by a member of the Company’s board of directors. The Company paid Level Field Capital, LLC $8.4 million at $3.00 per Private Placement Warrant. The Company’s common stock and Warrants are discussed further in Note 15 – Stockholders’ Equity . In June 2022, Landsea Capital Fund, who was under common control with the Company at the time of the transaction, contributed $55.0 million to the LCF JV. The LCF JV, which is consolidated by the Company, used these proceeds to purchase undeveloped land from the Company. The Company distributed $27.9 million and $22.3 million to Landsea Capital Fund during the years ended December 31, 2024 and 2023, respectively. All intercompany transactions between the Company and the LCF JV have been eliminated upon consolidation. In December 2021, the Company sold model homes to a related party for total consideration of $15.2 million. Construction of certain of these model homes was not complete at the time of sale. The Company recognized lot sales and other revenue of $1.2 million during the year ended December 31, 2022, related to the model homes still under construction on the date of sale. Corresponding lot and other cost of sales of $1.3 million was also recognized during the same period. No lot sales and other revenue or corresponding cost of sales was recognized on these model homes during the years ended December 31, 2024 and 2023. As part of this transaction, the Company leased back these models. The leases completed in April 2024. The total amount of rent payments made during the years ended December 31, 2024, 2023, and 2022 was $0.3 million, $0.8 million, and $0.8 million, respectively. As of December 31, 2024, we have no remaining right-of-use asset or lease liability balances associated with this transaction. The right-of-use asset and lease liability balances associated with these leases was $0.5 million and $0.5 million, respectively, as of December 31, 2023. In July 2021, the Company entered into a landbank agreement for a project in its California segment with a related party. The Company made regular payments to the related party based on an annualized rate of 7% of the undeveloped land costs while the land was being developed and purchased the lots at a predetermined price of $28.9 million. The total amount of interest payments made during the years ended December 31, 2024, 2023, and 2022 was less than $0.1 million, $0.6 million, and $1.0 million, respectively. During the years ended December 31, 2024, 2023, and 2022, payments of $4.0 million, $11.4 million, and $11.4 million were made to purchase developed lots from the related party, respectively. Capitalized interest included in real estate inventories on the consolidated balance sheets associated with this transaction was $0.3 million and $1.0 million as of December 31, 2024, and 2023, respectively. Previously capitalized related party interest included in cost of sales during the years ended December 31, 2024, 2023, and 2022 was $0.7 million, $1.4 million, and $0.2 million, respectively. Landsea Holdings holds a series of notes payable to affiliated entities of its parent. The cash Landsea Holdings received from this debt was previously utilized to partially fund operations of the Company. Related party interest incurred by Landsea Holdings was historically pushed down to the Company and reflected on the consolidated balance sheets of the Company, primarily in real estate inventories, and on the consolidated statements of operations in cost of sales. Refer to Note 5 – Capitalized Interest for further detail. As the Company did not guarantee the notes payable nor have any obligations to repay the notes payable, and as the notes payable

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes are as follows: Year Ended December 31, 2024 2023 2022 (dollars in thousands) Current: Federal $ 3,912 $ 12,418 $ 22,350 State 1,464 4,394 9,350 Current tax provision 5,376 16,812 31,700 Deferred: Federal 1,740 (3,967) (4,681) State 1,025 (950) (1,619) Deferred tax benefit 2,765 (4,917) (6,300) Total income tax provision, net $ 8,141 $ 11,895 $ 25,400 The provision for income taxes varies from the U.S. federal statutory rate. The following reconciliation shows the significant differences in the tax at statutory and effective rates: Year Ended December 31, 2024 2023 2022 Federal income tax expense 21.0 % 21.0 % 21.0 % State income tax expense, net of federal tax effect 5.8 5.6 6.4 162(m) limitation 4.2 1.9 1.0 Fair market value of warrant — — 1.5 Noncontrolling interest (1.6) (1.8) (0.5) Energy efficient home credits (2.0) (1.4) (3.6) Other permanent differences 0.6 0.4 — Return to provision adjustment (0.2) (0.4) (0.7) Rate change 2.2 1.0 (0.1) Change of valuation allowance — — (0.1) Other 0.5 0.4 0.2 Effective tax rate 30.5 % 26.7 % 25.1 % The difference between the statutory tax rate and the effective tax rate for the year ended December 31, 2024 is primarily related to state income taxes net of federal income tax benefits and estimated deduction limitations for executive compensation under Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), partially offset by tax credits for energy-efficient homes. The difference between the statutory tax rate and the effective tax rate for the year ended December 31, 2023, is primarily related to state income taxes net of federal income tax benefits and estimated deduction limitations for executive compensation under Section 162(m) of the Code, partially offset by the energy-efficient home credit. The difference between the statutory tax rate and the effective tax rate for the year ended December 31, 2022 is primarily related to state income taxes net of federal income tax benefits, estimated deduction limitations for executive compensation under Section 162(m) of the Code, and the fair value adjustment of the Private Placement Warrants, partially offset by tax credits for energy-efficient homes. As of December 31, 2024, 2023, and 2022, the Company did not have any gross uncertain tax positions or unrecognized tax benefits, and did not require an accrual for interest or penalties. The Company files income tax returns in the U.S. federal jurisdiction and in the states of Arizona, California, Colorado, Florida, Massachusetts, New Jersey, New York, and Texas. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The tax effects of significant temporary differences that give rise to the deferred tax assets, net of deferred tax liabilities, are as follows: December 31, 2024 2023 (dollars in thousands) Deferred tax assets Accrued expenses $ 14,776 $ 16,519 Lease liability 6,136 3,371 State tax liability 304 963 Allowances, reserves, and other 955 244 Stock compensation 1,007 948 UNICAP 7,784 6,967 Basis difference in investments 1,880 2,699 Deferred tax asset 32,842 31,711 Deferred tax liabilities Right-of-use asset (5,851) (3,061) Basis difference in fixed assets and intangible assets (4,436) (3,097) Warranty receivables (6,834) (7,067) Deferred tax liability (17,121) (13,225) Net deferred tax asset $ 15,721 $ 18,486 Based on the Company’s policy on deferred tax valuation allowances as discussed in Note 1 – Company and Summary of Significant Accounting Policies and its analysis of positive and negative evidence, management believed that there was enough evidence, including cumulative income over the past three years and projections of future taxable income, for the Company to conclude that it was more likely than not that it would realize all of its deferred tax assets as of December 31, 2024. As of December 31, 2024, the Company did not have any federal or state NOL carryforwards. The statute of limitations is three years for federal income tax purposes and four years for state income tax purposes. The Company’s federal tax returns for years 2021 through 2023 and state tax returns for years 2020 through 2023 are subject to examination under statute. The Inflation Reduction Act (“IRA”) extended the federal tax credit for building new energy-efficient homes through December 31, 2032. For homes delivered from 2023 through 2032, the credit amount is up to $5,000 based on the applicable program and program requirements under which the home was built (i.e., Energy Star or Zero Energy Ready Home). As of the year ended December 31, 2024, the Company continues to recognize federal energy tax credits when the criteria are met. There were no other material effects of the IRA on the Company’s consolidated financial statements.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company is engaged in the acquisition, development, and sale of homes and lots in multiple states across the country. The Company is managed by geographic location and each of the six geographic regions targets a wide range of buyer profiles including: first-time, move-up, and luxury homebuyers. Management of the six geographic regions report to the Company’s CODMs, the Chief Executive Officer and Chief Operating Officer of the Company. The CODMs review the results of operations and assess segment performance using gross margin and pretax income (loss) as reported on the consolidated statement of operations under the same captions. The CODMs use these metrics to evaluate the performance of segment assets in deciding whether to allocate resources to each segment or other goals of the business, such as acquisitions. These metrics are also used in budget versus actual analyses to monitor results in assessing performance of the segment and in establishing compensation of certain employees. Accordingly, the Company has presented its operations for the following six reportable segments: • Arizona • California • Colorado • Florida • Metro New York • Texas The Company has also identified the Corporate operations as a non-operating segment, as it serves to support the homebuilding operations through functional departments such as executive, finance, treasury, human resources, accounting, and legal. The majority of the corporate personnel and resources are primarily dedicated to activities relating to operations and are allocated based on each segment’s respective percentage of assets, revenue, and dedicated personnel. The accounting policies of the segments are consistent with those described in the summary of significant accounting policies. The following tables summarize information by segment: Year Ended December 31, 2024 Arizona California Colorado Florida Metro New York Texas Total Reportable Segments Corporate Consolidated Total (dollars in thousands) Revenue $ 403,550 $ 456,585 $ 54,256 $ 462,555 $ 4,475 $ 168,916 $ 1,550,337 $ — $ 1,550,337 Cost of sales 336,758 385,963 47,465 397,308 4,861 150,190 1,322,545 — 1,322,545 Gross margin 66,792 70,622 6,791 65,247 (386) 18,726 227,792 — 227,792 Sales and marketing expenses 36,779 16,976 3,604 27,105 558 13,167 98,189 — 98,189 General and administrative expenses 15,105 21,658 5,465 20,534 1,998 15,222 79,982 22,162 102,144 Other income (expense), net 778 (1,374) 28 492 206 (37) 93 (877) (784) Pretax income (loss) $ 15,686 $ 30,614 $ (2,250) $ 18,100 $ (2,736) $ (9,700) $ 49,714 $ (23,039) $ 26,675 Year Ended December 31, 2023 Arizona California Colorado Florida Metro New York Texas Total Reportable Segments Corporate Consolidated Total (dollars in thousands) Revenue $ 288,552 $ 439,939 $ 7,410 $ 468,210 $ 1,649 $ 4,187 $ 1,209,947 $ — $ 1,209,947 Cost of sales 237,553 364,190 6,634 381,021 1,673 3,902 994,973 — 994,973 Gross margin 50,999 75,749 776 87,189 (24) 285 214,974 — 214,974 Sales and marketing expenses 27,328 19,576 284 25,054 537 469 73,248 — 73,248 General and administrative expenses 18,283 27,027 1,930 25,266 2,269 5,613 80,388 21,054 101,442 Other income (expense), net 709 416 34 752 40 (193) 1,758 2,503 4,261 Pretax income (loss) $ 6,097 $ 29,562 $ (1,404) $ 37,621 $ (2,790) $ (5,990) $ 63,096 $ (18,551) $ 44,545 Year Ended December 31, 2022 Arizona California Colorado Florida Metro New York Texas Total Reportable Segments Corporate Consolidated Total (dollars in thousands) Revenue $ 317,160 $ 503,832 $ — $ 474,779 $ 111,423 $ 39,255 $ 1,446,449 $ — $ 1,446,449 Cost of sales 254,641 370,170 — 400,291 101,529 32,894 1,159,525 — 1,159,525 Gross margin 62,519 133,662 — 74,488 9,894 6,361 286,924 — 286,924 Sales and marketing expenses 29,062 20,968 — 28,591 8,380 2,304 89,305 — 89,305 General and administrative expenses 15,780 18,733 — 26,212 2,093 4,394 67,212 22,113 89,325 Other income (expense), net 555 252 — 1,113 59 179 2,158 (9,387) (7,229) Pretax income (loss) $ 18,232 $ 94,213 $ — $ 20,798 $ (520) $ (158) $ 132,565 $ (31,500) $ 101,065 Other income (expense), net includes income from forfeited customer deposits; costs from abandoned projects; gains or losses on disposals of fixed assets; and other insignificant activity. The following table summarizes total assets by segment: December 31, 2024 2023 (dollars in thousands) Assets Arizona $ 305,952 $ 336,424 California 436,854 479,218 Colorado 39,374 27,240 Florida 414,790 425,154 Metro New York 38,082 42,047 Texas 378,569 60,255 Total reportable segment assets 1,613,621 1,370,338 Corporate 87,716 100,894 Total assets $ 1,701,337 $ 1,471,232 Included in the Corporate segment assets is cash and cash equivalents of $57.9 million and $65.2 million as of December 31, 2024 and 2023, respectively.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value	Fair Value ASC 820, Fair Value Measurement , defines fair value as the price that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and requires assets and liabilities carried at fair value to be classified and disclosed in the following three categories: Level 1 — Quoted prices for identical instruments in active markets. Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are inactive; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets at measurement date. Level 3 — Valuations derived from techniques where one or more significant inputs or significant value drivers are unobservable in active markets at measurement date. The following table presents carrying values, excluding any discounts or deferred loan costs, and estimated fair values of financial instruments: December 31, 2024 December 31, 2023 Hierarchy Carrying Fair Value Carrying Fair Value (dollars in thousands) Liabilities: Line of credit facility (1) Level 2 199,000 199,000 315,000 315,000 11.0% Senior Notes Level 2 250,000 261,250 250,000 257,500 8.875% Senior Notes Level 2 300,000 298,125 — — (1) Carrying amount approximates fair value due to the variable interest rate terms of these loans. Carrying value excludes any associated deferred loan costs. The carrying values of receivables, deposits, and other assets as well as accounts payable and accrued liabilities approximate the fair value for these financial instruments based upon an evaluation of the underlying characteristics, market data, and because of the short period of time between origination of the instruments and their expected realization. The fair value of cash and cash equivalents is classified in Level 1 of the fair value hierarchy. Non-financial assets such as real estate inventories and goodwill are measured at fair value on a non-recurring basis using a discounted cash flow approach with Level 3 inputs within the fair value hierarchy. This measurement is performed when events and circumstances indicate the asset’s carrying value is not fully recoverable. During the year ended December 31, 2024, it was determined that real estate inventories with a carrying value of $6.6 million within one community in the Florida segment was not expected to be fully recoverable. Accordingly, a real estate inventories impairment charge was recognized in the amount of $0.8 million to reflect the estimated fair value of the community of $5.8 million. Refer to Note 4 – Real Estate Inventories for additional information. During the year ended December 31, 2023, it was determined that real estate inventories with a carrying value of $24.1 million within one community in the California segment was not expected to be fully recoverable. Accordingly, a real estate inventories impairment charge was recognized in the amount of $4.7 million to reflect the estimated fair value of the community of $19.4 million. During the year ended December 31, 2022, none of the Company’s real estate inventories required impairment. During each of the years ended December 31, 2024, 2023, and 2022, the Company concluded that no impairment of goodwill was required. Prior to being purchased by the Company in June 2022, the Private Placement Warrants were historically measured at fair value on a recurring basis using a Black-Scholes option pricing model. Adjustments to the fair value of the Private Placement Warrants were recorded in the consolidated statement of operations at each reporting date as a loss or gain on remeasurement of the warrant liability. The final fair value adjustment was recorded in 2022 based on the purchase price.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company adopted the Landsea Homes Corporation 2020 Stock Incentive Plan (the “Plan”) which provides for the grant of options, stock appreciation rights, restricted stock units (“RSUs”), and restricted stock, any of which may be performance-based, as determined by the Company’s Compensation Committee. The Company reserved a total of 6.0 million shares of common stock for issuance under the Plan. As of December 31, 2024, approximately 2.7 million shares of common stock remained available for issuance under the Plan. In 2022, the Company granted long term performance share unit awards (“PSUs”) to certain executives under the Plan. The PSUs are earned based upon the Company’s performance over three In 2023, the Company granted long term PSUs to certain executives under the Plan. The PSUs are earned based upon the Company’s performance over three years measured by cumulative revenue and average adjusted ROE over fiscal years 2023-2025. Each award is conditioned upon the Company achieving cumulative revenue and average adjusted ROE targets over this performance period. Target awards of 100% will be earned if the Company’s cumulative revenue and average adjusted ROE meet set thresholds in the performance period. If cumulative revenue and average adjusted ROE is below or above the target thresholds by defined amounts, an award may still be earned in a range between 50%-200% of the target. In 2024, the Company granted long term PSUs to certain executives under the Plan. The PSUs are earned based upon the Company’s performance over three years measured by cumulative revenue and average adjusted ROE over fiscal years 2024-2026. Each award is conditioned upon the Company achieving cumulative revenue and average adjusted ROE targets over this performance period. Target awards of 100% will be earned if the Company’s cumulative revenue and average adjusted ROE meet set thresholds in the performance periods. If cumulative revenue and average adjusted ROE is below or above the target thresholds by defined amounts, an award may still be earned in a range between 50%-200% of the target. The following table presents a summary of the Company’s nonvested PSUs and RSUs as of December 31, 2024 and 2023 and changes during the years then ended: Year Ended December 31, 2024 2023 Awards Weighted Average Grant Date Fair Value Awards Weighted Average Grant Date Fair Value (in thousands, except fair value amounts) Nonvested, beginning of the year 1,488 $ 8.74 1,625 $ 8.82 Granted 533 9.81 298 8.28 Vested (274) 9.33 (375) 8.68 Forfeited (39) 9.44 (60) 9.02 Nonvested, end of the year 1,708 $ 8.96 1,488 $ 8.74 Most awards vest ratably over three The following table presents a summary of the Company’s stock options activity for the year ended December 31, 2024: Number of Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Options outstanding at December 31, 2023 684 $ 8.08 Granted 303 12.44 Exercised (142) 8.33 Forfeited (117) 10.44 Expired (20) 8.21 Options outstanding at December 31, 2024 708 $ 9.50 8.06 $ 306 Options exercisable at December 31, 2024 417 $ 8.29 7.44 $ 190 Stock-based compensation expense totaled $3.5 million, $3.1 million, and $3.6 million during the years ended December 31, 2024, 2023, and 2022, respectively, and is included in general and administrative expenses on the consolidated statements of operations. The total intrinsic value of options exercised during the years ended December 31, 2024 and 2023, was $0.5 million and less than $0.1 million, respectively. No options were exercised during the year ended December 31, 2022. The following table presents a summary of the Company’s outstanding RSUs and PSUs, assuming the current estimated level of performance achievement: December 31, 2024 (in thousands, except period) Unvested units 1,708 Remaining cost on unvested units $ 2,170 Remaining vesting period 2.58 years Stock-based compensation expense associated with the outstanding RSUs and PSUs is measured using the grant date fair value which is based on the closing price as of the grant date. The expense associated with the PSUs also incorporates the estimated achievement of the established performance criteria at the end of each reporting period until the performance period ends.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity The Company’s authorized capital stock consists of 500.0 million shares of common stock with a par value of $0.0001 per share, and 50.0 million shares of preferred stock with a par value of $0.0001 per share. As of December 31, 2024, there were 41.7 million shares of common stock issued and 36.3 million outstanding, and no shares of preferred stock issued or outstanding. All outstanding shares of common stock are validly issued, fully paid, and nonassessable. Stock Repurchases In January 2022, the board of directors authorized a stock repurchase program. The program allowed for the repurchase of up to $10.0 million worth of common stock, inclusive of associated fees. The authorization to effect stock repurchases expired on June 30, 2022, with no remaining capacity to repurchase common stock. In April 2022, the board of directors authorized an extension of the stock repurchase program for an additional $10.0 million of capacity to repurchase common stock, with an expiration of December 31, 2022. In June 2022, the board of directors authorized a repurchase of 4,398,826 shares of our common stock directly from the Company’s majority shareholder for $30.0 million, or a per-share price of $6.82. During the year ended December 31, 2022 the Company repurchased 5,625,352 shares of common stock for a total of $40.3 million, which was recorded as a reduction to additional paid-in capital. A portion of these shares were repurchased directly from the Company’s majority shareholder. Refer to Note 10 – Related Party Transactions for additional information. The remaining authorization of $9.7 million expired unused as of December 31, 2022. In March 2023, the board of directors authorized a stock repurchase program allowing for the repurchase of up to $10.0 million worth of common stock with an expiration of December 31, 2023. In July 2023, the board of directors authorized additional capacity of approximately $3.3 million, with an expiration date of December 31, 2023, and an additional $10.0 million with no stated expiration date. In October 2023, the board of directors authorized additional capacity of $20.0 million with no stated expiration date. During the year ended December 31, 2023, the Company repurchased 3,635,033 shares of common stock for a total of $34.4 million, which was recorded as a reduction to additional paid-in capital. A portion of these shares were repurchased directly from the Company’s majority shareholder. Refer to Note 10 – Related Party Transactions for additional information. As of December 31, 2023, the Company had approximately $8.9 million in remaining authorized capacity. No additional stock repurchase authorizations occurred during the year ended December 31, 2024. During the year ended December 31, 2024, the Company repurchased 534,436 shares of common stock for a total of $6.4 million, excluding commissions, which was recorded as a reduction to additional paid-in capital. As of December 31, 2024, the Company had approximately $2.5 million in remaining capacity from previous authorizations. The timing and amount of repurchases are based on a variety of factors such as the market price of the Company’s common stock, corporate and contractual requirements, market and economic conditions, and legal requirements. The Inflation Reduction Act of 2022 included a 1% excise tax on stock repurchases, net of new stock issuances, beginning in 2023. The tax is paid annually and the Company accrues the tax during interim periods with the offset to additional paid-in capital on the consolidated balance sheet. Merger Transaction On August 31, 2020, Landsea Homes and Landsea Holdings, entered into an Agreement and Plan of Merger (the “Merger Agreement”) with LF Capital Acquisition Corp. (“LF Capital”) and LFCA Merger Sub, Inc. (the “Merger Sub”), a direct, wholly-owned subsidiary of LF Capital. The Merger Agreement provided for, among other things, the merger of Merger Sub with and into Landsea Homes Incorporated (“LHI”), previously a wholly-owned subsidiary of Landsea Holdings, with LHI continuing as the surviving corporation (the “Merger”). On January 7, 2021 (the “Closing Date”), the Merger was consummated pursuant to the Merger Agreement (the “Closing”). The name of LF Capital was changed at that time to Landsea Homes Corporation. Upon closing of the Merger, Level Field Capital, LLC (the “Sponsor”) held 1.0 million shares that were subject to surrender and forfeiture for no consideration in the event the common stock did not reach certain thresholds during the 24-month period following the closing of the Merger (the “Earnout Shares”). The Sponsor transferred 0.5 million Earnout Shares to Landsea Holdings. In January 2023, the Company concluded that the threshold for the Earnout Shares was not met and therefore those shares were forfeited and cancelled. Warrants As of December 31, 2024 there were 15,525,000 outstanding Warrants, consisting entirely of public warrants (the “Warrants”). At the time of the Merger, the Warrant Agreement was amended so that each public warrant is exercisable at $1.15 into one tenth of a share of common stock. As part of the amendment, each holder of the public warrants received $1.85 per warrant for a total of $28.7 million paid by the Company upon closing of the Merger. The Warrants will expire five years after the completion of the Merger or earlier upon redemption or liquidation. The Company may call the public warrants for redemption: • in whole and not in part; • at a price of $0.01 per warrant; • upon a minimum of 30 days’ prior written notice of redemption; and • if, and only if, the last reported closing price of the shares equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders. If the Company calls the public warrants for redemption, management will have the option to require all holders that wish to exercise the public warrants to do so on a “cashless basis,” as described in the Warrant Agreement. The exercise price and number of common shares issuable upon exercise of the Warrants may be adjusted in certain circumstances including in the event of a share dividend, or recapitalization, reorganization, merger or consolidation. However, the Warrants will not be adjusted for issuance of common shares at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the Warrants’ shares. Accordingly, the Warrants may expire worthless. In June 2022, the Company repurchased all 5.5 million outstanding Private Placement Warrants, which were previously exercisable at $11.50 into one share of common stock. The Company paid $16.5 million, or $3.00 per warrant, to repurchase all of the outstanding Private Placement Warrants. This amount included $6.6 million for the repurchase of 2.2 million of the Private Placement Warrants that were held by the Company’s majority shareholder, Landsea Holdings, and $8.4 million to Level Field Capital, LLC, a related party, for the repurchase of 2.8 million Private Placement Warrants. Refer to Note 10 – Related Party Transactions for additional information. The loss recognized on the repurchase of the Private Placement Warrants is recorded as loss on remeasurement of warrant liability on the Company’s consolidated statements of operations.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the years presented: Year Ended December 31, 2024 2023 2022 (in thousands, except share and per share amounts) Numerator Net income attributable to Landsea Homes Corporation $ 17,231 $ 29,236 $ 73,551 Less: undistributed earnings allocated to participating shares — — (1,706) Net income attributable to common stockholders $ 17,231 $ 29,236 $ 71,845 Denominator Weighted average common shares outstanding - basic 36,262,257 38,885,003 43,052,696 Adjustment for weighted average participating shares outstanding — — (1,000,000) Adjusted weighted average common shares outstanding under two class method - basic 36,262,257 38,885,003 42,052,696 Dilutive effect of options 114,206 — — Dilutive effect of share-based awards 179,607 191,319 146,766 Adjusted weighted average common shares outstanding under two class method - diluted 36,556,070 39,076,322 42,199,462 Earnings per share Basic $ 0.48 $ 0.75 $ 1.71 Diluted $ 0.47 $ 0.75 $ 1.70 The Company excluded 1.8 million, 2.2 million, and 2.1 million common stock equivalents from diluted EPS related to antidilutive warrants, options, and share-based awards during the years ended December 31, 2024, 2023, and 2022, respectively.

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flow Information	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Cash Flow Information	Supplemental Disclosures of Cash Flow Information The following table presents certain supplemental cash flow information: Year Ended December 31, 2024 2023 2022 (dollars in thousands) Supplemental disclosures of cash flow information Interest paid, net of amounts capitalized $ — $ — $ — Income taxes paid $ 12,386 $ 15,617 $ 40,367 Supplemental disclosures of non-cash investing and financing activities Non-cash impact of real estate inventories placed in service $ 27,333 $ — $ — Conversion of deferred offering costs to debt issuance costs $ 5,140 $ — $ — Change in right-of-use assets for new, modified, or terminated operating leases $ 17,264 $ 226 $ 7,380

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income attributable to Landsea Homes Corporation	$ 17,231	$ 29,236	$ 73,551

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Cybersecurity Risk Management and Strategy We have developed and implemented a cybersecurity risk management program, managed by our Vice President of Information Technology (“IT”), which is intended to assess, identify, and manage risks from cybersecurity threats, protect the confidentiality, integrity, and availability of our critical systems and information, and provide a framework for handling cybersecurity threats and incidents. Our cybersecurity risk management program is integrated with our overall enterprise risk management program, and is aligned with the methodologies, reporting channels and governance processes that have been established by the Company’s enterprise risk management teams. Our cybersecurity risk management program outlines the activities we take to prepare for, detect, respond to, and recover from cybersecurity incidents, which include processes to triage, assess severity for, escalate, contain, investigate, and remediate the incident, as well as to comply with potentially applicable legal obligations and mitigate brand and reputational damage. Our cybersecurity risk management program includes the following key elements: • risk assessments designed to help identify cybersecurity risks to our critical systems, information, services, and our broader enterprise IT environment. • a team, which reports to our Vice President of IT, comprised of IT security, IT infrastructure, and IT compliance personnel principally responsible for directing (1) our cybersecurity risk assessment processes, (2) our security processes, and (3) our response to cybersecurity incidents. • where appropriate, the use of external cybersecurity service providers, overseen by the IT Infrastructure Manager to assess, test or otherwise assist with aspects of our security processes. • cybersecurity awareness training of employees with access to our IT systems. • a cybersecurity incident response plan and Security Operations Center (SOC) to respond to cybersecurity incidents; and • a risk management process for service providers.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our cybersecurity risk management program is integrated with our overall enterprise risk management program, and is aligned with the methodologies, reporting channels and governance processes that have been established by the Company’s enterprise risk management teams. Our cybersecurity risk management program outlines the activities we take to prepare for, detect, respond to, and recover from cybersecurity incidents, which include processes to triage, assess severity for, escalate, contain, investigate, and remediate the incident, as well as to comply with potentially applicable legal obligations and mitigate brand and reputational damage.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our board of directors, which has overall oversight responsibility for our risk management, considers cybersecurity risk critical to the enterprise and has delegated primary cybersecurity risk oversight to the Audit Committee. The Audit Committee, which is responsible for reviewing and discussing the Company’s practices with respect to risk assessment and risk management, and risks related to matters including, among other things, information technology and cybersecurity, and therefore oversees management’s design, implementation, and enforcement of our cybersecurity risk management program. The Audit Committee receives reports, at least quarterly, from our Vice President of IT on our cybersecurity risks, including briefings on our cyber risk management program and cybersecurity events. The Audit Committee also receives periodic presentations from our Vice President of IT, supported by our management team or external experts, which address a wide range of additional cybersecurity topics including key cybersecurity metrics, the status of the Company’s information security systems and assessments of the Company’s cybersecurity, among other things. The Audit Committee regularly reports to our board of directors on cybersecurity matters.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	a team, which reports to our Vice President of IT, comprised of IT security, IT infrastructure, and IT compliance personnel principally responsible for directing
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Management is responsible for identifying and assessing cybersecurity risks, establishing processes to ensure that such potential cybersecurity risk exposures are monitored and putting in place appropriate mitigation measures. Our Vice President of IT, who reports to our Chief Financial Officer, has primary responsibility at the management level for leading our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our external cybersecurity service providers.
Cybersecurity Risk Role of Management [Text Block]	Our board of directors, which has overall oversight responsibility for our risk management, considers cybersecurity risk critical to the enterprise and has delegated primary cybersecurity risk oversight to the Audit Committee. The Audit Committee, which is responsible for reviewing and discussing the Company’s practices with respect to risk assessment and risk management, and risks related to matters including, among other things, information technology and cybersecurity, and therefore oversees management’s design, implementation, and enforcement of our cybersecurity risk management program. The Audit Committee receives reports, at least quarterly, from our Vice President of IT on our cybersecurity risks, including briefings on our cyber risk management program and cybersecurity events. The Audit Committee also receives periodic presentations from our Vice President of IT, supported by our management team or external experts, which address a wide range of additional cybersecurity topics including key cybersecurity metrics, the status of the Company’s information security systems and assessments of the Company’s cybersecurity, among other things. The Audit Committee regularly reports to our board of directors on cybersecurity matters. Management is responsible for identifying and assessing cybersecurity risks, establishing processes to ensure that such potential cybersecurity risk exposures are monitored and putting in place appropriate mitigation measures. Our Vice President of IT, who reports to our Chief Financial Officer, has primary responsibility at the management level for leading our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our external cybersecurity service providers. Our Vice President of IT has significant experience in managing and leading IT and cybersecurity teams, including over 20 years of relevant work experience at the Company and elsewhere.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Management is responsible for identifying and assessing cybersecurity risks, establishing processes to ensure that such potential cybersecurity risk exposures are monitored and putting in place appropriate mitigation measures. Our Vice President of IT, who reports to our Chief Financial Officer, has primary responsibility at the management level for leading our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our external cybersecurity service providers.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our Vice President of IT has significant experience in managing and leading IT and cybersecurity teams, including over 20 years of relevant work experience at the Company and elsewhere.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Management is responsible for identifying and assessing cybersecurity risks, establishing processes to ensure that such potential cybersecurity risk exposures are monitored and putting in place appropriate mitigation measures. Our Vice President of IT, who reports to our Chief Financial Officer, has primary responsibility at the management level for leading our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our external cybersecurity service providers. Our Vice President of IT has significant experience in managing and leading IT and cybersecurity teams, including over 20 years of relevant work experience at the Company and elsewhere.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of Presentation and Consolidation —The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and all subsidiaries, partnerships and other entities in which the Company has a controlling interest and variable interest entities (“VIEs”) in which the Company is deemed the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation.
Principles of Consolidation	Management of the Company believes that the assumptions underlying the consolidated financial statements reasonably reflect the utilization of services provided, or benefits received by the Company during the periods presented. Nevertheless, the consolidated financial statements may not be indicative of the Company’s future performance.
Use of Estimates	Use of Estimates —The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ materially from these estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents
Cash Held in Escrow	Cash Held in Escrow— Cash held in escrow consists of proceeds from home closings held in escrow for the Company’s benefit, typically for less than five days.
Real Estate Inventories and Cost of Sales	Real Estate Inventories and Cost of Sales —Real estate inventories include actively selling projects as well as projects under development or held for future development. Inventories are stated at cost, unless the carrying amount is determined not to be recoverable, in which case inventory is written down to its fair value. The Company capitalizes pre-acquisition costs, land deposits, land, development, and other allocated costs, including interest, property taxes, and indirect construction costs to real estate inventories. Pre-acquisition costs, including non-refundable land deposits, are removed from inventory and expensed to other income, net, if the Company determines continuation of the prospective project is not probable. Land, development, and other common costs are typically allocated to real estate inventories using a methodology that is either based on area methods such as lot size or width or, where practicable, the relative sales value method. Other value methods may be used as appropriate under the circumstances. Home construction costs per production phase are recorded using the specific identification method. Cost of sales for homes closed includes construction costs of each home, an allocation of applicable land acquisition, land development, and related common costs, plus an estimate of any applicable costs required to complete the home or common area development. Changes in estimated development and common costs are allocated prospectively to remaining homes in a project. The Company reviews real estate inventories on a periodic basis or whenever indicators of impairment exist. If there are indicators of impairment, the Company performs a detailed budget and cash flow review of the applicable real estate inventories to determine whether the estimated undiscounted future cash flows of the project are more or less than the asset’s carrying value. If the estimated undiscounted future cash flows are more than the asset’s carrying value, no impairment adjustment is required. However, if the estimated undiscounted future cash flows are less than the asset’s carrying value, the asset is written down to fair value and impairment charges are recorded to cost of sales. We generally determine the estimated fair value of each community by using a discounted cash flow approach based on the estimated future cash flows at discount rates that reflect the risk of the community being evaluated. When estimating future cash flows of a project, the Company makes various assumptions including estimated future home sales revenue, sales absorption rates, land development and construction costs, carrying costs, and direct selling and marketing costs. The discounted cash flow approach can be impacted significantly by the Company’s estimates of future cash flows and the applicable discount rate, which are Level 3 inputs. The key assumptions used in real estate inventories valuations are subject to a variety of external factors and are inherently uncertain. It is reasonably possible that changes in market conditions could change the Company’s estimates of future cash flows, leading to different conclusions. Accordingly, actual results could differ from valuation estimates. See Note 4 – Real Estate Inventories for additional information.
Capitalization of Interest	Capitalization of Interest —The Company follows the practice of capitalizing interest to real estate inventories during the period of development in accordance with ASC 835, Interest
Business Combinations	Business Combinations —Acquisitions are accounted for in accordance with ASC 805, Business Combinations . In connection with the Company’s recent acquisitions, management determined in each case that the Company obtained control of a business including inputs, processes, and outputs in exchange for cash consideration. All material assets and liabilities were measured and recognized at fair value as of the date of the acquisition. Any excess of the purchase price over the estimated fair values of the identifiable net assets acquired is recorded as goodwill. Significant judgment is often required in estimating the fair value of assets acquired, particularly intangible assets. The fair value of acquired real estate inventories largely depends on the stage of production of the acquired land and work in process inventory. For acquired land and land options, the Company typically utilizes, with the assistance of a third-party valuation specialist, a sales comparison approach. For work in process inventories, the Company, with the assistance of a third-party valuation specialist, estimates the fair value based upon the stage of production of each unit and a gross margin that the Company believes a market participant would require to complete the remaining development and requisite selling efforts. Refer to Note 2 – Business Combinations and Asset Acquisitions for further information regarding the purchase price allocation and related acquisition accounting.
Variable Interest Entities	Variable Interest Entities —The Company accounts for variable interest entities in accordance with ASC 810, Consolidation . Under ASC 810, a VIE is created when: (a) the equity investment at risk in the entity is not sufficient to permit the entity to finance its activities without additional subordinated financial support provided by other parties, including the equity holders; (b) the entity’s equity holders as a group either (i) lack the direct or indirect ability to direct the activities of an entity that most significantly impact the entity’s economic performance, (ii) are not obligated to absorb expected losses of the entity or (iii) do not have the right to receive expected residual returns of the entity; or (c) the entity’s equity holders have voting rights that are not proportionate to their economic interests, and the activities of the entity involve or are conducted on behalf of the equity holder with disproportionately few voting rights. If an entity is deemed to be a VIE pursuant to ASC 810, the enterprise that has both (i) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (ii) the obligation to absorb the expected losses of the entity or right to receive benefits from the entity that could be potentially significant to the VIE is considered the primary beneficiary and must consolidate the VIE. Under ASC 810, a non-refundable deposit paid to an entity may be deemed to be a variable interest that will absorb some or all of the entity’s expected losses if they occur. The Company’s land purchase and lot option deposits generally represent its maximum exposure to the land seller if it elects not to purchase the optioned property. Therefore, whenever the Company enters into a land option or purchase contract with an entity and makes a non-refundable deposit, a VIE may have been created.
Goodwill	Goodwill— The excess of the purchase price of a business acquisition over the net fair value of assets acquired and liabilities assumed is capitalized as goodwill if the acquisition is determined to be accounted for as a business combination. Goodwill and any other intangible assets that do not have finite lives are not amortized, but rather assessed for impairment at least annually. The Company performs an annual impairment test during the fourth quarter or whenever impairment indicators are present using a two-step process to assess whether or not goodwill should be impaired. The first step is a qualitative assessment that analyzes current economic indicators associated with a particular reporting unit. If the qualitative assessment indicates a stable or improved fair value, no further testing is required. If a qualitative assessment indicates that a significant decline to fair value of a reporting unit is more likely than not, or, at the Company’s election, the Company will proceed to the second step to calculate the fair value of the reporting unit based on discounted future cash flows and market comparisons. If this step indicates that the carrying value of a reporting unit is in excess of its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of
Property and Equipment	Property and Equipment two
Capitalized Selling and Marketing Costs	Capitalized Selling and Marketing Costs —In accordance with ASC 606, Revenue from Contracts with Customers , and ASC 340, Other Assets and Deferred Cost,
Warranty Accrual and Warrant Liability	Warranty Accrual —The Company provides home purchasers with limited warranties against certain building defects and has certain obligations related to those post-construction warranties for closed homes. The specific terms and conditions of these limited warranties vary depending upon the markets in which we do business, but generally the Company provides all of its homebuyers with a limited warranty as to workmanship and mechanical equipment and also provide many of its homebuyers with a limited 10-year warranty as to structural integrity. Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related homebuilding revenues are recognized. Amounts are accrued based upon the Company’s historical rates of warranty claims. Historical experience of the Company’s peers is also considered due to the Company’s limited internal history of homebuilding sales. The adequacy of the warranty accrual is assessed on a quarterly basis to reflect changes in trends as information becomes available and the amounts recorded are adjusted if necessary. The warranty accrual is included in accrued expenses and other liabilities in the accompanying consolidated balance sheets and adjustments to the accrual are recorded through cost of sales. Warrant Liability —The Company accounted for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480, Distinguishing Liabilities from Equity , and ASC 815, Derivatives and Hedging . For issued or modified warrants that did not meet all the criteria for equity classification, the warrants were recorded as liabilities at their initial fair value on the date of issuance or assumption and remeasured to fair value at each balance sheet date thereafter. The Company’s Private Placement Warrants were previously presented on the consolidated balance sheets as a liability recorded at fair value with subsequent changes in fair value recognized in the consolidated statement of operations at each reporting date as a loss or gain on remeasurement of the warrant liability. The fair value of the Private Placement Warrants was estimated using a Black-Scholes option pricing model which included assumptions used in the model that were subjective and required significant judgment, including implied volatility, which was a Level 3 input. Each Private Placement Warrant was exercisable at $11.50 into one share of common stock. In June 2022, all of the outstanding Private Placement Warrants were repurchased by the Company. Refer to Note 15 – Stockholders’ Equity for additional information on the Warrants. The fair value of the Private Placement Warrants is discussed further in Note 13 – Fair Value .
Home Sales Revenue and Lot Sales and Other Revenue	Home Sales Revenue— Home sales revenue is recognized when the Company’s performance obligations within the underlying sales contracts are fulfilled. The Company considers its obligations fulfilled when closing conditions are complete, title has transferred to the homebuyer, and collection of the purchase price is reasonably assured. Sales incentives are recorded as a reduction of revenue when the respective home is closed. When it is determined that the earnings process is not complete, the related revenue is deferred for recognition in future periods. Lot Sales and Other Revenue— Revenues from lot sales and other revenue are recorded and a margin is recognized when performance obligations are satisfied, which includes transferring a promised good or service to a customer. Lot sales and other revenue is recognized when all conditions of escrow are met, including delivery of the real estate asset in the agreed-upon condition, passage of title, receipt of appropriate consideration, and collection of associated receivables, if any, is probable, and other applicable criteria are met. Based upon the terms of the agreement, when it is determined that the performance obligations are not satisfied, the sale and the related margin are deferred for recognition in future periods. Under the terms of certain lot sale and other contracts, the Company is obligated to perform certain development activities after the close of escrow. Due to this continuing involvement, the Company recognizes lot sales and other revenue under the percentage-of-completion method. Revenue is then recognized in proportion to total costs incurred divided by total costs expected to be incurred. Stock-Based Compensation Expense —In accordance with ASC 718, Compensation—Stock Compensation
Income Taxes	Income Taxes— The Company records income taxes in accordance with ASC 740, Income Taxes , whereby deferred tax assets and liabilities are recognized based on the differences in the book and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates that are expected to apply in the years that the differences are expected to reverse. The Company adjusts deferred tax assets and liabilities for the effects of changes in tax laws and rates in the period of enactment. Tax credits are recognized through the effective tax rate calculation assuming that the Company will be able to realize the full benefit of the credits. Each year the Company assesses its deferred tax asset to determine whether all or any portion of the asset is more likely than not (defined as a likelihood of more than 50%) to be unrealizable under ASC 740. The Company is required to establish a valuation allowance for any portion of the tax asset determined to be more likely than not unrealizable. The ultimate realization of deferred tax assets depends primarily on the generation of future taxable income during the periods in which the differences become deductible. Judgment is required in determining the future tax consequences of events that have been recognized in the Company’s consolidated financial statements and/or tax returns. Differences between anticipated and actual outcomes of these future tax consequences could have a material impact on the Company’s consolidated financial statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2023, the FASB issued ASU 2023-01, which amends the application of ASU 2016-02, Leases (Topic 842) , related to leases with entities under common control, also referred to as common control leases. The amendments to this update require an entity to consider the useful life of leasehold improvements associated with common control leases from the perspective of the common control group and amortize the leasehold improvements over the useful life of the assets to the common control group, instead of the term of the lease. Any remaining value for the leasehold improvement at the end of the lease would be adjusted through equity. The standard is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. The adoption did not have a material impact on the Company’s consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires disclosure of additional segment information. These additional requirements include significant expenses, other segment items to reconcile segment revenue and significant expenses to the reported measure of segment profit or loss, a description of the composition of the other segment items, and the title and position of the entity’s chief operating decision maker (“CODM”). The amendments in this update also expand the segment disclosure requirements to interim periods. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption was permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. The Company adopted this guidance and updated the reportable segment disclosure presentation accordingly, refer to Note 12 – Segment Reporting for additional information. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires annual disclosure of specific categories in the income tax rate reconciliation and of additional information for reconciling items that meet a quantitative threshold among other changes. Specifically, the guidance requires a tabular reconciliation disclosure, using both percentages and amounts. The guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses . This ASU requires that, at each interim and annual reporting period, an entity disclose in the notes to the financial statements certain costs and expenses. The guidance is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

Business Combinations and Ass_2

Business Combinations and Asset Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following is a summary of the allocation of the purchase price based on the fair value of assets acquired and liabilities assumed (dollars in thousands) . Assets Acquired Cash $ 4,760 Real estate inventories 154,004 Goodwill 86,958 Trade name 1,950 Other assets 4,539 Total assets $ 252,211 Liabilities Assumed Accounts payable $ 2,472 Accrued expenses 9,936 Total liabilities 12,408 Net assets acquired $ 239,803 The following is a summary of the allocation of the purchase price based on the fair value of assets acquired and liabilities assumed (dollars in thousands) . Assets Acquired Cash $ 3,857 Real estate inventories 232,071 Goodwill 44,182 Trade name 1,590 Other assets 378 Total assets $ 282,078 Liabilities Assumed Accounts payable $ 6,329 Accrued expenses 13,165 Total liabilities 19,494 Net assets acquired $ 262,584
Business Acquisition, Pro Forma Information	Unaudited pro forma net income adjusts the operating results of the stated acquisitions to reflect the additional costs that would have been recorded assuming the fair value adjustments had been applied as of the beginning of the year preceding the year of acquisition, including the tax-effected amortization of the acquired trade names and transaction related costs. Year Ended December 31, 2024 2023 2022 Revenue $ 1,592,993 $ 1,381,089 $ 1,451,558 Pretax income 47,133 41,782 151,846 Provision for income taxes (14,043) (11,157) (38,163) Net income $ 33,090 $ 30,625 $ 113,683

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following table summarizes the carrying amount and classification of the VIEs’ assets and liabilities in the consolidated balance sheets as of December 31, 2024 and 2023. December 31, 2024 December 31, 2023 (dollars in thousands) Cash $ 5,068 $ 2,950 Real estate inventories 19,987 79,441 Due from affiliates 8 203 Other assets 29,417 2,107 Total assets $ 54,480 $ 84,701 Accounts payable $ 266 $ 384 Accrued expenses and other liabilities 4,562 5,257 Total liabilities $ 4,828 $ 5,641

Real Estate Inventories (Tables

Real Estate Inventories (Tables)	12 Months Ended
	Dec. 31, 2024
Real Estate Inventories [Abstract]
Schedule of Real Estate Inventories	Real estate inventories are summarized as follows: December 31, 2024 2023 (dollars in thousands) Deposits and pre-acquisition costs $ 96,611 $ 99,702 Land held and land under development 492,707 272,825 Homes completed or under construction 729,335 692,126 Model homes 20,429 57,073 Total real estate inventories $ 1,339,082 $ 1,121,726
Schedule Of Fair Value Of Impaired Inventory	The table below provides quantitative data for Level 3 inputs used in determining the fair value of the impaired inventory. The table presents the quarter during the respective year in which the impairment occurred. Impairment Data Quantitative Data Three Months Ended Number of Projects Impaired Real Estate Inventories Impairment Fair Value of Inventory After Impairment Discount Rate (dollars in thousands) September 30, 2024 1 $ 800 $ 5,828 13 % June 30, 2023 1 $ 4,700 $ 19,363 11 %

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consist of the following: December 31, 2024 2023 (dollars in thousands) Property and equipment, net (1) $ 41,073 $ 12,663 Warranty and general liability insurance receivables (2) 27,280 27,406 Right-of-use asset 23,358 11,869 Deferred tax asset, net 15,721 18,486 Prepaid expenses 14,327 8,993 Contract assets 3,860 5,954 Project funds in escrow 2,306 2,388 Prepaid income taxes 1,556 — Intangible asset, net 757 — Other 18,758 20,114 Total other assets $ 148,996 $ 107,873 (1) Property and equipment is net of $22.1 million and $15.8 million accumulated depreciation as of December 31, 2024 and 2023, respectively. (2) Insurance recoveries not yet received from our insurers are recorded on a gross basis, without any reduction for the associated warranty liability. Refer to the Warranty section in Note 7 – Accrued Expenses and Other Liabilities for additional information.

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following: December 31, 2024 2023 (dollars in thousands) Land development and home construction accrual $ 59,758 $ 51,478 Warranty reserve and general liability 50,342 48,949 Land bank finance liability 29,431 — Lease liabilities 24,494 13,070 Accrued compensation and benefits 16,476 26,029 Interest payable 10,236 2,775 Homebuyer deposits 6,948 8,227 Sales tax payable 1,600 1,646 Income tax payable — 4,636 Deferred revenue 384 180 Other deposits and liabilities 12,976 3,266 Total accrued expenses and other liabilities $ 212,645 $ 160,256
Schedule of Product Warranty Liability	Changes in the Company’s warranty reserve and general liability are detailed in the table below: December 31, 2024 2023 (dollars in thousands) Beginning warranty reserve and general liability $ 48,949 $ 46,657 Provision (1) 9,909 10,457 Payments (8,516) (8,165) Ending warranty reserve and general liability $ 50,342 $ 48,949

Notes and Other Debts Payable_2

Notes and Other Debts Payable, net (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Amounts outstanding under notes and other debts payable, net consist of the following: December 31, 2024 2023 (dollars in thousands) 11.0% Senior Notes due July 2028 $ 250,000 $ 250,000 8.875% Senior Notes due April 2029 300,000 — Discount and deferred loan costs (19,081) (13,857) Senior Notes, net $ 530,919 $ 236,143 December 31, 2024 2023 (dollars in thousands) Line of credit facility $ 199,000 $ 315,000 Deferred loan costs (4,565) (7,369) Line of credit facility, net $ 194,435 $ 307,631
Schedule of Maturities of Long-term Debt	The aggregate maturities of the principal balances of the notes and other debts payable subsequent to December 31, 2024 are as follows (dollars in thousands) : 2025 $ — 2026 — 2027 199,000 2028 250,000 2029 300,000 Thereafter — $ 749,000

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Operating Lease Maturity Schedule	Future minimum payments under the non-cancelable operating leases in effect at December 31, 2024 were as follows (dollars in thousands) : 2025 $ 10,096 2026 6,613 2027 3,770 2028 2,576 2029 2,573 Thereafter 3,039 Total lease payments 28,667 Less: Discount (4,173) Present value of lease liabilities $ 24,494

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefits)	The provision for income taxes are as follows: Year Ended December 31, 2024 2023 2022 (dollars in thousands) Current: Federal $ 3,912 $ 12,418 $ 22,350 State 1,464 4,394 9,350 Current tax provision 5,376 16,812 31,700 Deferred: Federal 1,740 (3,967) (4,681) State 1,025 (950) (1,619) Deferred tax benefit 2,765 (4,917) (6,300) Total income tax provision, net $ 8,141 $ 11,895 $ 25,400
Schedule of Effective Income Tax Rate Reconciliation	The provision for income taxes varies from the U.S. federal statutory rate. The following reconciliation shows the significant differences in the tax at statutory and effective rates: Year Ended December 31, 2024 2023 2022 Federal income tax expense 21.0 % 21.0 % 21.0 % State income tax expense, net of federal tax effect 5.8 5.6 6.4 162(m) limitation 4.2 1.9 1.0 Fair market value of warrant — — 1.5 Noncontrolling interest (1.6) (1.8) (0.5) Energy efficient home credits (2.0) (1.4) (3.6) Other permanent differences 0.6 0.4 — Return to provision adjustment (0.2) (0.4) (0.7) Rate change 2.2 1.0 (0.1) Change of valuation allowance — — (0.1) Other 0.5 0.4 0.2 Effective tax rate 30.5 % 26.7 % 25.1 %
Schedule of Deferred Tax Assets and Liabilities	The tax effects of significant temporary differences that give rise to the deferred tax assets, net of deferred tax liabilities, are as follows: December 31, 2024 2023 (dollars in thousands) Deferred tax assets Accrued expenses $ 14,776 $ 16,519 Lease liability 6,136 3,371 State tax liability 304 963 Allowances, reserves, and other 955 244 Stock compensation 1,007 948 UNICAP 7,784 6,967 Basis difference in investments 1,880 2,699 Deferred tax asset 32,842 31,711 Deferred tax liabilities Right-of-use asset (5,851) (3,061) Basis difference in fixed assets and intangible assets (4,436) (3,097) Warranty receivables (6,834) (7,067) Deferred tax liability (17,121) (13,225) Net deferred tax asset $ 15,721 $ 18,486

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize information by segment: Year Ended December 31, 2024 Arizona California Colorado Florida Metro New York Texas Total Reportable Segments Corporate Consolidated Total (dollars in thousands) Revenue $ 403,550 $ 456,585 $ 54,256 $ 462,555 $ 4,475 $ 168,916 $ 1,550,337 $ — $ 1,550,337 Cost of sales 336,758 385,963 47,465 397,308 4,861 150,190 1,322,545 — 1,322,545 Gross margin 66,792 70,622 6,791 65,247 (386) 18,726 227,792 — 227,792 Sales and marketing expenses 36,779 16,976 3,604 27,105 558 13,167 98,189 — 98,189 General and administrative expenses 15,105 21,658 5,465 20,534 1,998 15,222 79,982 22,162 102,144 Other income (expense), net 778 (1,374) 28 492 206 (37) 93 (877) (784) Pretax income (loss) $ 15,686 $ 30,614 $ (2,250) $ 18,100 $ (2,736) $ (9,700) $ 49,714 $ (23,039) $ 26,675 Year Ended December 31, 2023 Arizona California Colorado Florida Metro New York Texas Total Reportable Segments Corporate Consolidated Total (dollars in thousands) Revenue $ 288,552 $ 439,939 $ 7,410 $ 468,210 $ 1,649 $ 4,187 $ 1,209,947 $ — $ 1,209,947 Cost of sales 237,553 364,190 6,634 381,021 1,673 3,902 994,973 — 994,973 Gross margin 50,999 75,749 776 87,189 (24) 285 214,974 — 214,974 Sales and marketing expenses 27,328 19,576 284 25,054 537 469 73,248 — 73,248 General and administrative expenses 18,283 27,027 1,930 25,266 2,269 5,613 80,388 21,054 101,442 Other income (expense), net 709 416 34 752 40 (193) 1,758 2,503 4,261 Pretax income (loss) $ 6,097 $ 29,562 $ (1,404) $ 37,621 $ (2,790) $ (5,990) $ 63,096 $ (18,551) $ 44,545
Reconciliation of Assets from Segment to Consolidated	The following table summarizes total assets by segment: December 31, 2024 2023 (dollars in thousands) Assets Arizona $ 305,952 $ 336,424 California 436,854 479,218 Colorado 39,374 27,240 Florida 414,790 425,154 Metro New York 38,082 42,047 Texas 378,569 60,255 Total reportable segment assets 1,613,621 1,370,338 Corporate 87,716 100,894 Total assets $ 1,701,337 $ 1,471,232

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents carrying values, excluding any discounts or deferred loan costs, and estimated fair values of financial instruments: December 31, 2024 December 31, 2023 Hierarchy Carrying Fair Value Carrying Fair Value (dollars in thousands) Liabilities: Line of credit facility (1) Level 2 199,000 199,000 315,000 315,000 11.0% Senior Notes Level 2 250,000 261,250 250,000 257,500 8.875% Senior Notes Level 2 300,000 298,125 — — (1) Carrying amount approximates fair value due to the variable interest rate terms of these loans. Carrying value excludes any associated deferred loan costs.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Compensation Activity	The following table presents a summary of the Company’s nonvested PSUs and RSUs as of December 31, 2024 and 2023 and changes during the years then ended: Year Ended December 31, 2024 2023 Awards Weighted Average Grant Date Fair Value Awards Weighted Average Grant Date Fair Value (in thousands, except fair value amounts) Nonvested, beginning of the year 1,488 $ 8.74 1,625 $ 8.82 Granted 533 9.81 298 8.28 Vested (274) 9.33 (375) 8.68 Forfeited (39) 9.44 (60) 9.02 Nonvested, end of the year 1,708 $ 8.96 1,488 $ 8.74
Schedule of Stock Option Activity	The following table presents a summary of the Company’s stock options activity for the year ended December 31, 2024: Number of Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Options outstanding at December 31, 2023 684 $ 8.08 Granted 303 12.44 Exercised (142) 8.33 Forfeited (117) 10.44 Expired (20) 8.21 Options outstanding at December 31, 2024 708 $ 9.50 8.06 $ 306 Options exercisable at December 31, 2024 417 $ 8.29 7.44 $ 190
Share-based Payment Arrangement, Performance Shares, Activity	The following table presents a summary of the Company’s outstanding RSUs and PSUs, assuming the current estimated level of performance achievement: December 31, 2024 (in thousands, except period) Unvested units 1,708 Remaining cost on unvested units $ 2,170 Remaining vesting period 2.58 years

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the years presented: Year Ended December 31, 2024 2023 2022 (in thousands, except share and per share amounts) Numerator Net income attributable to Landsea Homes Corporation $ 17,231 $ 29,236 $ 73,551 Less: undistributed earnings allocated to participating shares — — (1,706) Net income attributable to common stockholders $ 17,231 $ 29,236 $ 71,845 Denominator Weighted average common shares outstanding - basic 36,262,257 38,885,003 43,052,696 Adjustment for weighted average participating shares outstanding — — (1,000,000) Adjusted weighted average common shares outstanding under two class method - basic 36,262,257 38,885,003 42,052,696 Dilutive effect of options 114,206 — — Dilutive effect of share-based awards 179,607 191,319 146,766 Adjusted weighted average common shares outstanding under two class method - diluted 36,556,070 39,076,322 42,199,462 Earnings per share Basic $ 0.48 $ 0.75 $ 1.71 Diluted $ 0.47 $ 0.75 $ 1.70

Supplemental Disclosures of C_2

Supplemental Disclosures of Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The following table presents certain supplemental cash flow information: Year Ended December 31, 2024 2023 2022 (dollars in thousands) Supplemental disclosures of cash flow information Interest paid, net of amounts capitalized $ — $ — $ — Income taxes paid $ 12,386 $ 15,617 $ 40,367 Supplemental disclosures of non-cash investing and financing activities Non-cash impact of real estate inventories placed in service $ 27,333 $ — $ — Conversion of deferred offering costs to debt issuance costs $ 5,140 $ — $ — Change in right-of-use assets for new, modified, or terminated operating leases $ 17,264 $ 226 $ 7,380

Company (Details)

Company (Details)	12 Months Ended
	Dec. 31, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	6

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) joint_venture $ / shares	Dec. 31, 2023 USD ($) joint_venture	Dec. 31, 2022 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of joint venture | joint_venture	2	2
Impairment of goodwill	$ 0	$ 0	$ 0
Amortization of capitalized selling and marketing costs	3.5	2.6	0.6
Marketing and advertising expense	$ 10.6	$ 6.9	$ 5.1
Warranty term (in years)	10 years
Warrant
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Exercise price of warrants (in dollars per share) | $ / shares	$ 11.50

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property plant and equipment
Depreciation	$ 2	$ 1.8	$ 2
Minimum | Property, Plant and Equipment
Property plant and equipment
Useful life (in years)	2 years
Maximum | Property, Plant and Equipment
Property plant and equipment
Useful life (in years)	5 years

Business Combinations and Ass_3

Business Combinations and Asset Acquisitions - Narrative (Details) $ in Thousands			1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 10, 2023 USD ($) lot	Jan. 18, 2022 USD ($) lot realEstate_Community	Apr. 30, 2024 USD ($) lot	Dec. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Goodwill				$ 155,597	$ 155,597	$ 68,639
Antares Debt
Business Acquisition [Line Items]
Repayments of Debt			$ 40,200
Goodwill
Business Acquisition [Line Items]
Goodwill amortization period		15 years
Antares Acquisition, LLC
Business Acquisition [Line Items]
Goodwill		$ 86,958
Transaction related costs					3,600
Business Combination, Consideration Transferred			$ 239,800
Goodwill, Measurement Period Adjustment				$ 3,300
Business Combinations, Number of Lots Acquired | lot			2,100
Antares Acquisition, LLC | Homebuilding Revenues
Business Acquisition [Line Items]
Revenue					131,400
Net income					$ (1,600)
Antares Acquisition, LLC | Trade Names
Business Acquisition [Line Items]
Intangible assets acquired		$ 1,950
Antares Acquisition, LLC | Trade Names | Minimum
Business Acquisition [Line Items]
Useful life (in years)				12 months	12 months
Antares Acquisition, LLC | Trade Names | Maximum
Business Acquisition [Line Items]
Useful life (in years)				18 months	18 months
Hanover Family Builders, LLC
Business Acquisition [Line Items]
Percentage interests acquired		100%
Cash consideration		$ 262,600
Repayments of debt		69,300
Payment of land related deposits		$ 15,600
Number of communities | realEstate_Community		20
Number of lots | lot		3,800
Goodwill		$ 44,182
Transaction related costs						700
Revenue of acquiree since acquisition						334,000
Income before tax, inclusive of purchase price accounting						$ 20,100
Hanover Family Builders, LLC | Trade Names
Business Acquisition [Line Items]
Intangible assets acquired		$ 1,590
Useful life (in years)		1 year
Hanover Family Builders, LLC | Goodwill
Business Acquisition [Line Items]
Goodwill amortization period		15 years
Richfield Homes Lots
Business Acquisition [Line Items]
Payments to acquire productive assets	$ 22,500
Number of lots acquired | lot	290

Business Combinations and Ass_4

Business Combinations and Asset Acquisitions - Net Assets Acquired (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Jan. 18, 2022
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Goodwill	$ 155,597	$ 68,639
Antares Acquisition, LLC
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash			$ 4,760
Real estate inventories			154,004
Goodwill			86,958
Other assets			4,539
Total assets			252,211
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Accounts payable			2,472
Accrued expenses			9,936
Total liabilities			12,408
Net assets acquired			239,803
Antares Acquisition, LLC | Trade Names
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Trade name			1,950
Hanover Family Builders, LLC
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash			3,857
Real estate inventories			232,071
Goodwill			44,182
Other assets			378
Total assets			282,078
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Accounts payable			6,329
Accrued expenses			13,165
Total liabilities			19,494
Net assets acquired			262,584
Hanover Family Builders, LLC | Trade Names
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Trade name			$ 1,590

Business Combinations and Ass_5

Business Combinations and Asset Acquisitions - Pro Forma Financial Information (Details) - Antares and Hanover Acquisitions - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Revenue	$ 1,592,993	$ 1,381,089	$ 1,451,558
Pretax income	47,133	41,782	151,846
Provision for income taxes	(14,043)	(11,157)	(38,163)
Net income	$ 33,090	$ 30,625	$ 113,683

Variable Interest Entities (Det

Variable Interest Entities (Details) $ in Thousands	Dec. 31, 2024 USD ($) project	Dec. 31, 2023 USD ($)
Variable Interest Entity [Line Items]
Cash	$ 53,322	$ 119,555
Real estate inventories	1,339,082	1,121,726
Total assets	1,701,337	1,471,232
Accounts payable	86,348	77,969
Accrued expenses and other liabilities	212,645	160,256
Total liabilities	1,025,228	782,880
Related Party
Variable Interest Entity [Line Items]
Due from affiliates	$ 419	4,348
Variable Interest Entities
Variable Interest Entity [Line Items]
Number of VIE's | project	2
Cash	$ 5,068	2,950
Real estate inventories	19,987	79,441
Other assets	29,417	2,107
Total assets	54,480	84,701
Accounts payable	266	384
Accrued expenses and other liabilities	4,562	5,257
Total liabilities	4,828	5,641
Variable Interest Entities | Related Party
Variable Interest Entity [Line Items]
Due from affiliates	$ 8	$ 203
Variable Interest Entities | 14th Ave JV | Metro New York
Variable Interest Entity [Line Items]
Number of VIE's | project	1
Variable Interest Entities | LCF Joint Venture
Variable Interest Entity [Line Items]
Number of VIE's | project	1

Real Estate Inventories - Sched

Real Estate Inventories - Schedule of Real Estate Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Real Estate Inventories [Abstract]
Deposits and pre-acquisition costs	$ 96,611	$ 99,702
Land held and land under development	492,707	272,825
Homes completed or under construction	729,335	692,126
Model homes	20,429	57,073
Total real estate inventories	$ 1,339,082	$ 1,121,726

Real Estate Inventories - Narra

Real Estate Inventories - Narrative (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2024 USD ($) project	Sep. 30, 2023 USD ($) project	Dec. 31, 2024 USD ($) project	Dec. 31, 2023 project	Dec. 31, 2022 project
Real Estate Inventories [Line Items]
Number of projects impaired | project					0
California
Real Estate Inventories [Line Items]
Real estate inventories impairment | $			$ 4,700
Florida
Real Estate Inventories [Line Items]
Real estate inventories impairment | $			$ 800
Real Estate | Level 3
Real Estate Inventories [Line Items]
Number of projects impaired | project	1	1	1
Real Estate | Level 3 | California
Real Estate Inventories [Line Items]
Real estate inventories impairment | $	$ 800	$ 4,700
Number of projects impaired | project				1

Real Estate Inventories - Sch_2

Real Estate Inventories - Schedule of Fair Value of Impaired Inventory (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2024 USD ($) project	Sep. 30, 2023 USD ($) project	Dec. 31, 2024 USD ($) project	Dec. 31, 2023 project	Dec. 31, 2022 project
Real Estate Inventories [Line Items]
Number of Projects Impaired | project					0
California
Real Estate Inventories [Line Items]
Real Estate Inventories Impairment			$ 4,700
Real Estate | Level 3
Real Estate Inventories [Line Items]
Number of Projects Impaired | project	1	1	1
Fair Value of Inventory After Impairment	$ 5,828	$ 19,363	$ 5,828
Real Estate | Level 3 | California
Real Estate Inventories [Line Items]
Number of Projects Impaired | project				1
Real Estate Inventories Impairment	800	$ 4,700
Fair Value of Inventory After Impairment	$ 19,400		$ 19,400
Real Estate | Level 3 | Measurement Input, Default Rate | Valuation Technique, Discounted Cash Flow
Real Estate Inventories [Line Items]
Discount Rate	0.13	0.11	0.13

Capitalized Interest (Details)

Capitalized Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Capitalization [Line Items]
Interest costs capitalized adjustment	$ 78.7	$ 52.2	$ 35.6
Interest expense	61	36.3	40.5
Related Party
Schedule of Capitalization [Line Items]
Interest expense	$ 0.7	$ 1.4	$ 0.2

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Total other assets
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total other assets	Total other assets
Deferred tax asset, net	$ 15,721	$ 18,486
Property and equipment, net	41,073	12,663
Right-of-use asset	23,358	11,869
Contract assets	3,860	5,954
Intangible asset, net	757	0
Prepaid expenses	14,327	8,993
Project funds in escrow	2,306	2,388
Prepaid Taxes	1,556	0
Warranty and general liability insurance receivables	27,280	27,406
Other	18,758	20,114
Total other assets	148,996	107,873
Accumulated depreciation	$ 22,100	$ 15,800

Other Assets - Narrative (Detai

Other Assets - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Contract assets	$ 3,860	$ 5,954
Remaining performance obligation, amount	$ 2,400	$ 1,100

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Land development and home construction accrual	$ 59,758	$ 51,478
Beginning warranty reserve and general liability	50,342	48,949	$ 46,657
Land bank finance liability	29,431	0
Accrued compensation and benefits	16,476	26,029
Lease liabilities	24,494	13,070
Sales tax payable	1,600	1,646
Income tax payable	0	4,636
Interest payable	10,236	2,775
Deferred revenue		180
Homebuyer deposits	6,948	8,227
Other deposits and liabilities	12,976	3,266
Total accrued expenses and other liabilities	$ 212,645	$ 160,256
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Accrued Liabilities [Member]	Accounts Payable and Accrued Liabilities [Member]

Accrued Expenses and Other Li_4

Accrued Expenses and Other Liabilities - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Deferred revenue		$ 180
Lot Sales and other
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 384	$ 200

Accrued Expenses and Other Li_5

Accrued Expenses and Other Liabilities - Product Warranty Accrual (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning warranty reserve and general liability	$ 48,949	$ 46,657
Provision	9,909	10,457
Payments	(8,516)	(8,165)
Ending warranty reserve and general liability	$ 50,342	48,949
Adjustments business acquisition associated with Hanover		$ 4,100

Notes and Other Debts Payable_3

Notes and Other Debts Payable, net - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 749,000
Senior Notes
Debt Instrument [Line Items]
Discount and deferred loan costs	(19,081)	$ (13,857)
Long-term debt, total	$ 530,919	236,143
Senior Notes | 11.0% Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	11%
Long-term debt, gross	$ 250,000	250,000
Senior Notes | 8.875% Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	8.875%
Long-term debt, gross	$ 300,000	0
Line of Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	199,000	315,000
Deferred loan costs	(4,565)	(7,369)
Long-term debt, total	$ 194,435	$ 307,631

Notes and Other Debts Payable_4

Notes and Other Debts Payable, net - Narrative (Details)		1 Months Ended	12 Months Ended
	Oct. 21, 2024 USD ($)	Feb. 27, 2025	Dec. 31, 2024 USD ($) construction_loan	Dec. 31, 2023 USD ($)	Jul. 31, 2023 USD ($)	Oct. 31, 2021 USD ($)
Debt Instrument [Line Items]
Number of construction loan | construction_loan			1
Long-term debt, gross			$ 749,000,000
Line of Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Credit agreement, current borrowing capacity			455,000,000
Long-term line of credt			$ 199,000,000
Credit facility, maximum borrowing capacity						$ 850,000,000
Effective interest rate at period end			7.71%
Long-term debt, gross			$ 199,000,000	$ 315,000,000
Interest coverage ratio, minimum			2
Deferred Debt Issuance Cost, Writeoff	$ 5,200,000
Line of Credit Facility | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Interest coverage ratio, minimum		1.75
Line of Credit Facility | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate			3.30%
Unsecured Debt | Note Purchase Agreement
Debt Instrument [Line Items]
Principal amount					$ 250,000,000
Paycheck Protection Program Notes | Debt Extinguishment Fees
Debt Instrument [Line Items]
Payment for debt extinguishment				2,500,000
Senior Notes | 8.875% Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage			8.875%
Long-term debt, gross			$ 300,000,000	$ 0

Notes and Other Debts Payable_5

Notes and Other Debts Payable, net - Maturities of Principal Balances (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 0
2026	0
2027	199,000
2028	250,000
2029	300,000
Thereafter	0
Long-term debt	$ 749,000

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 31, 2023 insurer	Dec. 31, 2021 USD ($) insurer	Dec. 31, 2024 USD ($) extension	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Land purchase contracts, deposits			$ 94,100	$ 96,200
Land purchase contracts, refundable amount			800	1,000
Land purchase contracts, total remaining purchase price			$ 688,200	$ 663,100
Period land purchase contracts are expected to purchased within (in years)				4 years
Weighted average rate (percent)			8.10%	5.50%
Right-of-use asset			$ 23,358	$ 11,869
Present value of lease liabilities			24,494	13,070
Operating lease expense			3,200	3,900	$ 2,200
Revenue			1,550,337	1,209,947	1,446,449
Cost of sales			1,322,545	994,973	1,159,525
Home Sales
Loss Contingencies [Line Items]
Revenue			1,486,938	1,169,867	1,392,750
Cost of sales			$ 1,268,968	$ 967,034	$ 1,108,204
Land, Buildings and Improvements
Loss Contingencies [Line Items]
Number of options to renew | extension			1
Weighted average remaining lease term (in years)			4 years 6 months	5 years 8 months 12 days
Minimum | Land, Buildings and Improvements
Loss Contingencies [Line Items]
Lease term (in years)			1 year
Maximum | Land, Buildings and Improvements
Loss Contingencies [Line Items]
Lease term (in years)			7 years
Sale and Lease Back of Model Homes
Loss Contingencies [Line Items]
Right-of-use asset			$ 14,600
Sale and Lease Back of Model Homes | Home Sales
Loss Contingencies [Line Items]
Revenue			69,500
Cost of sales			$ 65,400
Sale and Lease Back of Model Homes | Minimum
Loss Contingencies [Line Items]
Sale leaseback transaction, lease term (in years)			3 months
Sale and Lease Back of Model Homes | Maximum
Loss Contingencies [Line Items]
Sale leaseback transaction, lease term (in years)			36 months
Performance Guarantee
Loss Contingencies [Line Items]
Performance bonds outstanding			$ 125,000	$ 109,300
Paycheck Protection Program Notes
Loss Contingencies [Line Items]
Number of insurers who paid claims on behalf of the company in the wrongful death settlement | insurer		3
Proceeds from PPP loan		$ 14,900
Number of insurers filed a lawsuit seeking reimbursement | insurer	2
Number of Insurers Filed Lawsuit Seeking Reimbursement | insurer	1

Commitments and Contingencies_2

Commitments and Contingencies - Maturity Schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
2025	$ 10,096
2026	6,613
2027	3,770
2028	2,576
2029	2,573
Thereafter	3,039
Total lease payments	28,667
Less: Discount	(4,173)
Present value of lease liabilities	$ 24,494	$ 13,070

Related Party Transactions (Det

Related Party Transactions (Details) $ / shares in Units, $ in Thousands	1 Months Ended							12 Months Ended
	Dec. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)	Aug. 31, 2023 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($) transaction $ / shares shares	Dec. 31, 2021 USD ($)	Jul. 31, 2021 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) home	Sep. 30, 2024 $ / shares	Jun. 01, 2022 shares	May 31, 2022 $ / shares	Jan. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Payable due to affiliates	$ (86,348)							$ (86,348)	$ (77,969)
Deferred offering costs paid								3,053	224	$ 2,605
Lot sales and other revenue								1,550,337	1,209,947	1,446,449
Cost of sales								1,322,545	994,973	1,159,525
Right-of-use asset	23,358							23,358	11,869
Present value of lease liabilities	24,494							24,494	13,070
Interest expense								61,000	36,300	40,500
Real estate inventories	1,339,082							1,339,082	1,121,726
Lot Sales and other
Related Party Transaction [Line Items]
Lot sales and other revenue								63,399	40,080	53,699
Public Stock Offering | Maximum
Related Party Transaction [Line Items]
Reimbursable expenses to the underwriters	4,300
Transaction costs, written-off	800
California
Related Party Transaction [Line Items]
Related party transaction, rate							7%
Developed lots purchased in the period								4,000	11,400	11,400
Landsea Holdings | Public Stock Offering | Maximum
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	400
Ever Fast Holdings Limited | Public Stock Offering | Maximum
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	300
Private Placement Warrants
Related Party Transaction [Line Items]
Stock repurchase program, authorized (in shares) | shares				2,800,000	2,800,000
Landsea Holding Share Repurchase Program
Related Party Transaction [Line Items]
Aggregate net proceeds from stock offering				$ 3,300
Deferred offering costs paid				$ 800
Number of transactions | transaction					2
Stock repurchase program, authorized (in shares) | shares												4,400,000
Stock repurchase program, authorized amount					$ 30,000
Stock consideration, share price (in dollars per share) | $ / shares					$ 6.82								$ 7.18
Discount rate					5%
Landsea Holding Share Repurchase Program | IPO
Related Party Transaction [Line Items]
Share price (in dollars per share) | $ / shares											$ 7.50
Landsea Holding Share Repurchase Program | Public Stock Offering
Related Party Transaction [Line Items]
Shares sold in offering | shares				443,478
Landsea Holding Share Repurchase Program | Public Stock Offering | Maximum
Related Party Transaction [Line Items]
Reimbursable expenses to the underwriters		$ 600
Landsea Holding Share Repurchase Program | Private Placement Warrants
Related Party Transaction [Line Items]
Stock repurchase program, authorized (in shares) | shares				5,500,000	5,500,000
Stock repurchase program, authorized amount				$ 8,400	$ 8,400
Stock consideration, share price (in dollars per share) | $ / shares					$ 3
Landsea Holding Share Repurchase Program | Private Placement Warrants | Landsea Holdings
Related Party Transaction [Line Items]
Stock repurchase program, authorized (in shares) | shares					2,200,000
Share Repurchase Program
Related Party Transaction [Line Items]
Stock repurchase program, authorized (in shares) | shares					4,398,826
Stock repurchase program, authorized amount					$ 30,000									$ 10,000
Stock consideration, share price (in dollars per share) | $ / shares					$ 6.82
Share Repurchase Program | Private Placement Warrants
Related Party Transaction [Line Items]
Stock repurchase program, authorized amount				$ 16,500
Stock consideration, share price (in dollars per share) | $ / shares					$ 3
Share Repurchase Program | Private Placement Warrants | Landsea Holdings
Related Party Transaction [Line Items]
Stock repurchase program, authorized (in shares) | shares				2,200,000
Stock repurchase program, authorized amount				$ 6,600	$ 6,600
Green Investment Alpha Limited Share Repurchase Program
Related Party Transaction [Line Items]
Aggregate net proceeds from stock offering			$ 7,800
Deferred offering costs paid			$ 300
Green Investment Alpha Limited Share Repurchase Program | IPO
Related Party Transaction [Line Items]
Share price (in dollars per share) | $ / shares			$ 9.75
Green Investment Alpha Limited Share Repurchase Program | Public Stock Offering
Related Party Transaction [Line Items]
Shares sold in offering | shares			800,000
Sale and Lease Back of Model Homes
Related Party Transaction [Line Items]
Right-of-use asset	14,600							14,600
Equity Method Investee
Related Party Transaction [Line Items]
Payable due to affiliates	$ (500)							$ (500)
Receivables from related party									3,500
Equity Method Investee | Nonconsolidated Investees, Other
Related Party Transaction [Line Items]
Ownership interest (percent)	17%							17%
Landsea Capital Fund
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction								$ 27,900	22,300
Landsea Capital Fund | LCF JV
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction					$ 55,000
Affiliated Entity
Related Party Transaction [Line Items]
Revenue						$ 15,200
Other costs										1,300
Payments for rent								300	800	800
Right-of-use asset									500
Present value of lease liabilities									500
Real estate inventories	$ 300							300	1,000
Affiliated Entity | California | Predetermined Land Purchase Price
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction							$ 28,900
Affiliated Entity | Landsea Holdings
Related Party Transaction [Line Items]
Real estate inventories	$ 100							100	400
Affiliated Entity | Sale and Lease Back of Model Homes
Related Party Transaction [Line Items]
Lot sales and other revenue								0		1,200
Related Party
Related Party Transaction [Line Items]
Interest expense								700	1,400	200
Related Party | California
Related Party Transaction [Line Items]
Interest expense								100	600	1,000
Related Party | Landsea Holdings
Related Party Transaction [Line Items]
Interest expense								$ 200	1,700	$ 5,000
Officer and Immediate Family Member
Related Party Transaction [Line Items]
Cost of sales									3,500
Officer and Immediate Family Member | Sale and Lease Back of Model Homes
Related Party Transaction [Line Items]
Lot sales and other revenue									$ 4,000
Officer
Related Party Transaction [Line Items]
Related Party Transactions, Number Of Homes Sold To Related Party | home										1
Family member
Related Party Transaction [Line Items]
Related Party Transactions, Number Of Homes Sold To Related Party | home										1

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 3,912	$ 12,418	$ 22,350
State	1,464	4,394	9,350
Current tax provision	5,376	16,812	31,700
Deferred:
Federal	1,740	(3,967)	(4,681)
State	1,025	(950)	(1,619)
Deferred tax benefit	2,765	(4,917)	(6,300)
Total income tax provision, net	$ 8,141	$ 11,895	$ 25,400

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal income tax expense	21%	21%	21%
State income tax expense, net of federal tax effect	5.80%	5.60%	6.40%
162(m) limitation	4.20%	1.90%	1%
Fair market value of warrant	0%	0%	1.50%
Noncontrolling interest	(1.60%)	(1.80%)	(0.50%)
Energy efficient home credits	(2.00%)	(1.40%)	(3.60%)
Other permanent differences	0.60%	0.40%	0%
Return to provision adjustment	(0.20%)	(0.40%)	(0.70%)
Rate change	2.20%	1%	(0.10%)
Change of valuation allowance	0%	0%	(0.10%)
Other	0.50%	0.40%	0.20%
Effective tax rate	30.50%	26.70%	25.10%

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred Tax Assets, Gross [Abstract]
Accrued expenses	$ 14,776	$ 16,519
Lease liability	6,136	3,371
State tax liability	304	963
Allowances, reserves, and other	955	244
Stock compensation	1,007	948
UNICAP	7,784	6,967
Basis difference in investments	1,880	2,699
Deferred tax asset	32,842	31,711
Deferred Tax Liabilities, Gross [Abstract]
Right-of-use asset	(5,851)	(3,061)
Basis difference in fixed assets and intangible assets	(4,436)	(3,097)
Warranty receivables	(6,834)	(7,067)
Deferred tax liability	(17,121)	(13,225)
Net deferred tax asset	$ 15,721	$ 18,486

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)
Segment Reporting [Abstract]
Number of geographic regions | segment	6
Number of reportable segments | segment	6
Segment Reporting Information [Line Items]
Cash and cash equivalents	$ 53,322	$ 119,555
Goodwill	155,597	68,639
Corporate
Segment Reporting Information [Line Items]
Cash and cash equivalents	57,900	65,200
Arizona
Segment Reporting Information [Line Items]
Goodwill	20,700	20,700
Florida
Segment Reporting Information [Line Items]
Goodwill	47,900
Texas
Segment Reporting Information [Line Items]
Goodwill	$ 87,000	$ 47,900

Segment Reporting - Revenue and

Segment Reporting - Revenue and Pretax Income by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 1,550,337	$ 1,209,947	$ 1,446,449
Cost of sales	1,322,545	994,973	1,159,525
Gross margin	227,792	214,974	286,924
Sales and marketing expenses	98,189	73,248	89,305
General and administrative expenses	102,144	101,442	89,325
Other income (expense), net			(7,229)
Other (expense) income, net	(784)	4,261	86
Pretax income	26,675	44,545	101,065
Operating Segments
Segment Reporting Information [Line Items]
Revenue	1,550,337	1,209,947	1,446,449
Cost of sales	1,322,545	994,973	1,159,525
Gross margin	227,792	214,974	286,924
Sales and marketing expenses	98,189	73,248	89,305
General and administrative expenses	79,982	80,388	67,212
Other income (expense), net			2,158
Other (expense) income, net	93	1,758
Pretax income	49,714	63,096	132,565
Corporate
Segment Reporting Information [Line Items]
Revenue	0	0	0
Cost of sales	0	0	0
Gross margin	0	0	0
Sales and marketing expenses	0	0	0
General and administrative expenses	22,162	21,054	22,113
Other income (expense), net			(9,387)
Other (expense) income, net	(877)	2,503
Pretax income	(23,039)	(18,551)	(31,500)
Arizona | Operating Segments
Segment Reporting Information [Line Items]
Revenue	403,550	288,552	317,160
Cost of sales	336,758	237,553	254,641
Gross margin	66,792	50,999	62,519
Sales and marketing expenses	36,779	27,328	29,062
General and administrative expenses	15,105	18,283	15,780
Other income (expense), net			555
Other (expense) income, net	778	709
Pretax income	15,686	6,097	18,232
California | Operating Segments
Segment Reporting Information [Line Items]
Revenue	456,585	439,939	503,832
Cost of sales	385,963	364,190	370,170
Gross margin	70,622	75,749	133,662
Sales and marketing expenses	16,976	19,576	20,968
General and administrative expenses	21,658	27,027	18,733
Other income (expense), net			252
Other (expense) income, net	(1,374)	416
Pretax income	30,614	29,562	94,213
Colorado | Operating Segments
Segment Reporting Information [Line Items]
Revenue	54,256	7,410	0
Cost of sales	47,465	6,634	0
Gross margin	6,791	776	0
Sales and marketing expenses	3,604	284	0
General and administrative expenses	5,465	1,930	0
Other income (expense), net			0
Other (expense) income, net	28	34
Pretax income	(2,250)	(1,404)	0
Florida | Operating Segments
Segment Reporting Information [Line Items]
Revenue	462,555	468,210	474,779
Cost of sales	397,308	381,021	400,291
Gross margin	65,247	87,189	74,488
Sales and marketing expenses	27,105	25,054	28,591
General and administrative expenses	20,534	25,266	26,212
Other income (expense), net			1,113
Other (expense) income, net	492	752
Pretax income	18,100	37,621	20,798
Metro New York | Operating Segments
Segment Reporting Information [Line Items]
Revenue	4,475	1,649	111,423
Cost of sales	4,861	1,673	101,529
Gross margin	(386)	(24)	9,894
Sales and marketing expenses	558	537	8,380
General and administrative expenses	1,998	2,269	2,093
Other income (expense), net			59
Other (expense) income, net	206	40
Pretax income	(2,736)	(2,790)	(520)
Texas | Operating Segments
Segment Reporting Information [Line Items]
Revenue	168,916	4,187	39,255
Cost of sales	150,190	3,902	32,894
Gross margin	18,726	285	6,361
Sales and marketing expenses	13,167	469	2,304
General and administrative expenses	15,222	5,613	4,394
Other income (expense), net			179
Other (expense) income, net	(37)	(193)
Pretax income	$ (9,700)	$ (5,990)	$ (158)

Segment Reporting - Assets by S

Segment Reporting - Assets by Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total assets	$ 1,701,337	$ 1,471,232
Operating Segments
Segment Reporting Information [Line Items]
Total assets	1,613,621	1,370,338
Corporate
Segment Reporting Information [Line Items]
Total assets	87,716	100,894
Arizona | Operating Segments
Segment Reporting Information [Line Items]
Total assets	305,952	336,424
California | Operating Segments
Segment Reporting Information [Line Items]
Total assets	436,854	479,218
Colorado | Operating Segments
Segment Reporting Information [Line Items]
Total assets	39,374	27,240
Florida | Operating Segments
Segment Reporting Information [Line Items]
Total assets	414,790	425,154
Metro New York | Operating Segments
Segment Reporting Information [Line Items]
Total assets	38,082	42,047
Texas | Operating Segments
Segment Reporting Information [Line Items]
Total assets	$ 378,569	$ 60,255

Fair Value - Schedule of Fair V

Fair Value - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Carrying | Line of Credit Facility
Liabilities:
Long-term debt	$ 199,000	$ 315,000
Carrying | Senior Notes | 11.0% Senior Notes
Liabilities:
Long-term debt	250,000	250,000
Carrying | Senior Notes | 8.875% Senior Notes
Liabilities:
Long-term debt	300,000	0
Fair Value | Level 2 | Line of Credit Facility
Liabilities:
Long-term debt	199,000	315,000
Fair Value | Level 2 | Senior Notes | 11.0% Senior Notes
Liabilities:
Long-term debt	261,250	257,500
Fair Value | Level 2 | Senior Notes | 8.875% Senior Notes
Liabilities:
Long-term debt	$ 298,125	$ 0

Fair Value - Narrative (Details

Fair Value - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2024	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Level 3 | Real Estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of inventory after impairment	$ 5,828	$ 19,363	$ 5,828
Florida
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate inventories, carrying value			6,600
Real estate inventories impairment			800
Florida | Level 3 | Real Estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of inventory after impairment	5,800		5,800
California
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate inventories, carrying value			24,100
Real estate inventories impairment			4,700
California | Level 3 | Real Estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of inventory after impairment	19,400		$ 19,400
Real estate inventories impairment	$ 800	$ 4,700
California | Level 3 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate inventories impairment				$ 0	$ 0

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	5 years
Common Stock | Landsea Homes Corporation 2020 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	6,000
Number of shares available for future issuance (in shares)	2,700
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance range of target goals greater than			200%
Performance Shares | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance measured by cumulative revenue and return on equity	3 years	3 years
Performance Shares | Minimum | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance measured by cumulative revenue and return on equity			3 years
Performance Shares | Maximum | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance measured by cumulative revenue and return on equity			5 years
Performance Shares | Landsea Homes Corporation 2020 Stock Incentive Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance range of target goals	50%	50%	50%
Performance Shares | Landsea Homes Corporation 2020 Stock Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance range of target goals	200%	200%	400%
Restricted Stock Units and Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	533	298
Restricted Stock Units and Performance Stock Units | General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3.5	$ 3.1	$ 3.6
Share-Based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised (less than)	$ 0.5	$ 0.1	$ 0

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Compensation Expense (Details) - Restricted Stock Units and Performance Stock Units - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Awards
Outstanding, beginning of the year (in shares)	1,488	1,625
Grants in period (in shares)	533	298
Vested (in shares)	(274)	(375)
Forfeited (in shares)	(39)	(60)
Outstanding, End of the year (in shares)	1,708	1,488
Weighted Average Grant Date Fair Value
Weighted Average Grand Date Fair Value Outstanding, beginning of the year (in dollars per share)	$ 8.74	$ 8.82
Granted (in dollars per share)	9.81	8.28
Vested (in dollars per share)	9.33	8.68
Forfeited (in dollars per share)	9.44	9.02
Weighted Average Grand Date Fair Value Outstanding, End of the year (in dollars per share)	$ 8.96	$ 8.74

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Details) - Share-Based Payment Arrangement, Option - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Options
Options outstanding, beginning balance (in shares)	684,000
Granted (in shares)	303,000
Exercised (in shares)	(142,000)
Forfeited (in shares)	(117,000)
Expired (in shares)	(20,000)
Options outstanding, ending balance (in shares)	708,000	684,000
Options exercisable (in shares)	417,000
Weighted Average Exercise Price
Weighted average exercise price, beginning balance (in dollars per share)	$ 8.08
Granted (in dollars per share)	12.44
Exercised (in dollars per share)	8.33
Forfeited (in dollars per share)	10.44
Expired (in dollars per share)	8.21
Weighted average exercise price, ending balance (in dollars per share)	9.50	$ 8.08
Options exercisable (in dollars per share)	$ 8.29
Weighted Average Remaining Contractual Term
Weighted Average Remaining Contractual Term	8 years 21 days
Options exercisable, Weighted average remaining contractual term	7 years 5 months 8 days
Aggregate Intrinsic Value
Aggregate intrinsic value	$ 306
Options exercisable	$ 190

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Unvested Outstanding RSUs and PSUs (Details) - Restricted Stock Units and Performance Stock Units shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested units (in shares) | shares	1,708
Remaining cost on unvested units | $	$ 2,170
Remaining vesting period (in years)	2 years 6 months 29 days

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Jan. 07, 2021 shares	Dec. 31, 2024 USD ($) segment $ / shares shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Oct. 31, 2023 USD ($)	Jul. 31, 2023 USD ($)	Jun. 30, 2023 USD ($) $ / shares shares	Mar. 31, 2023 USD ($)	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 01, 2022 shares	May 31, 2022 $ / shares	Apr. 30, 2022 USD ($)	Jan. 31, 2022 USD ($)
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		500,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.0001
Preferred stock, authorized shares (in shares)		50,000,000	50,000,000
Common stock, shares issued (in shares)		41,712,850	41,382,453
Common stock, shares outstanding (in shares)		36,316,855	36,520,894
Preferred stock, shares outstanding (in shares)		0
Additional authorized repurchase amount | $								$ 10,000				$ 10,000
Repurchase of common stock (in shares)				5,625,352
Repurchase of common stock | $		$ 6,509	$ 34,738	$ 40,547
Stock repurchase program, expired unused amount | $			9,700
Warrants outstanding (in shares)		15,525,000
Total amount paid by company | $		$ 0	0	16,500
Merger Agreement | Common Class A | Level Field Capital, LLC
Class of Stock [Line Items]
Equity interests still held (in shares)	1,000,000
Landsea Holdings | Merger Agreement | Earnout Shares | Level Field Capital, LLC
Class of Stock [Line Items]
Equity interests transferred (in shares)	500,000
Share Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, authorized amount | $									$ 30,000				$ 10,000
Remaining authorized repurchase amount | $		$ 2,500	$ 8,900				$ 0
Additional authorized repurchase amount | $						$ 3,300
Stock repurchase program, authorized (in shares)									4,398,826
Stock consideration, share price (in dollars per share) | $ / shares									$ 6.82
Repurchase of common stock (in shares)		534,436	3,635,033
Repurchase of common stock | $		$ 6,400	$ 34,400	$ 40,300
Additional authorized repurchase amount with no stated expiration date | $					$ 20,000	$ 10,000
Landsea Holding Share Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, authorized amount | $									$ 30,000
Stock repurchase program, authorized (in shares)										4,400,000
Stock consideration, share price (in dollars per share) | $ / shares									$ 6.82		$ 7.18
Public Warrants
Class of Stock [Line Items]
Exercise price of warrants (in dollars per share) | $ / shares		$ 1.15
Number of shares per warrant (in shares)		0.1
Amendment distribution price per per warrant (in dollars per share) | $ / shares		$ 1.85
Total amount paid by company | $		$ 28,700
Warrants outstanding, term (in years)		5 years
Minimum conversion price, per warrant (in dollars per share) | $ / shares		$ 0.01
Written notice, period		30 days
Stock price trigger (in dollars per share) | $ / shares		$ 18
Threshold trading days | segment		20
Threshold consecutive trading days | segment		30
Private Placement Warrants
Class of Stock [Line Items]
Stock repurchase program, authorized (in shares)							2,800,000		2,800,000
Exercise price of warrants (in dollars per share) | $ / shares							$ 11.50
Number of shares per warrant (in shares)							1
Private Placement Warrants | Share Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, authorized amount | $							$ 16,500
Stock consideration, share price (in dollars per share) | $ / shares									$ 3
Private Placement Warrants | Share Repurchase Program | Landsea Holdings
Class of Stock [Line Items]
Stock repurchase program, authorized amount | $							$ 6,600		$ 6,600
Stock repurchase program, authorized (in shares)							2,200,000
Private Placement Warrants | Landsea Holding Share Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, authorized amount | $							$ 8,400		$ 8,400
Stock repurchase program, authorized (in shares)							5,500,000		5,500,000
Stock consideration, share price (in dollars per share) | $ / shares									$ 3

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator
Net income attributable to Landsea Homes Corporation	$ 17,231	$ 29,236	$ 73,551
Less: undistributed earnings allocated to participating shares	0	0	(1,706)
Net income attributable to common stockholders	$ 17,231	$ 29,236	$ 71,845
Denominator
Weighted average common shares outstanding - basic (in shares)	36,262,257	38,885,003	43,052,696
Adjustment for weighted average participating shares outstanding (in shares)	0	0	(1,000,000)
Adjusted weighted average common shares outstanding under two class method - basic (in shares)	36,262,257	38,885,003	42,052,696
Dilutive effect of options (in shares)	114,206	0	0
Dilutive effect of share-based awards (in shares)	179,607	191,319	146,766
Adjusted weighted average common shares outstanding under two class method - diluted (in shares)	36,556,070	39,076,322	42,199,462
Earnings per share
Basic (in dollars per share)	$ 0.48	$ 0.75	$ 1.71
Diluted (in dollars per share)	$ 0.47	$ 0.75	$ 1.70
Antidilutive securities excluded from computation of earnings per share, amount	1,800,000	2,200,000	2,100,000

Supplemental Disclosures of C_3

Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Supplemental disclosures of cash flow information
Interest paid, net of amounts capitalized	$ 0	$ 0	$ 0
Income taxes paid	12,386	15,617	40,367
Supplemental disclosures of non-cash investing and financing activities
Non-cash impact of real estate inventories placed in service	27,333	0	0
Conversion of deferred offering costs to debt issuance costs	5,140	0	0
Change in right-of-use assets for new, modified, or terminated operating leases	$ 17,264	$ 226	$ 7,380