Buck Horne: Awesome. Thanks guys. Appreciate it.
Operator: Thank you. The next question is coming from Alan Ratner from Zelman & Associates. Alan, your line is live.
Alan Ratner: Hey guys, good morning. Thanks for taking my questions. First, I was hoping maybe you could just help me a little bit reconciling the closings results versus the orders. The closings for this quarter came in well above your guidance. The orders were a bit lighter versus what you signaled in mid-November. And I thought I heard you say that cycle times have been relatively stable, maybe even ticked up a little bit. So how did you drive the upside to closings without stronger order activity? Was it just that much of a greater mix of completed sales versus homes that were a month or two out from completion than you were anticipating? And I’m sure that ties into the 2Q guidance as well with your delivery guidance above your beginning backlog. So I’m just maybe looking for a little bit more color to understand what’s going on there?
David Auld: Yeah. As we see marginal improvement in our inventory turns and home construction times, you’re starting to see and you see that in our numbers, a larger percentage of our inventory homes on the completed side, which allows us to meet the market, which quite frankly is available to us today, which is shorter-term close. And so we’re seeing more homes sell and close in the quarter, getting back more towards historical norms, and we expect to see that on a go-forward basis with the maturity of the home inventory that we have.
Alan Ratner: Got it. Okay. That’s helpful. Second question, kind of, related, but tying in maybe the margin conversation as well. So when you look at your 7,000 completed specs, are you able to provide a little bit more detail on how many of those are maybe less than 30 days completed? What’s more than 30? And how is your pricing strategy differ on completed specs as it hits certain threshold? Is there a level or a point where you get more aggressive on price adjustments, or do you just look at it more holistically?
David Auld: So generally, we talk about a completed spec, we have a pretty aggressive definition of what’s completed, it’s when it gets into the final flooring stage. So typically, from a home hitting that completion milestone for us, normal conditions, it’s probably going to take between two weeks to four weeks for that home actually to be moving ready and more likely to the four-week side of that. So if we look at how many houses we have out there that are aging in the buckets, we have about 190 houses that have been passed our completion date by more than six months or more. So we still feel very comfortable about the freshness of that spec inventory, and this is the exact right time of the year to have that inventory, especially with the backdrop of very low existing home sale inventory available in the marketplace.
Bill Wheat: And that’s something we manage very closely. Obviously, we’ve been building specs for a very long time. We have a lot of discipline around that. And so we do watch those completed specs as they start to age. And they get longer if they get longer than 90 days, then yes, we will start to step up the efforts to ensure that we move them. But right now, we still have a very fresh €“ fresh batch of completed specs out there for springs selling season.
Alan Ratner: Great. Appreciate that. Thanks, guys.
Operator: Thank you. The next question is coming from Mike Dahl from RBC Capital Markets. Mike, your line is live.
