Amrep Corporation is a holding company. The Company conducts business through its subsidiaries. The Company operates through two business segments: land development and homebuilding. Its land development segment offers for sale of both developed and undeveloped lots to national, regional and local homebuilders, commercial and industrial property developers and others. The Company owns approximately 18,000 acres in Rio Rancho. Its homebuilding segment offers a range of home floor plans and elevations at different prices and with varying levels of options and amenities to meet the needs of homebuyers. The Company focuses on selling single-family detached homes and attached townhomes. The Company selects locations for homebuilding based on available land inventory and completion of a feasibility study. The Company utilizes third-party sales brokers for home sales.