Forestar Group Inc. operates as a real estate company. The company engages in the acquisition, entitlement, development, and sale of real estate, primarily residential and mixed-use communities. It also sells commercial tracts; residential lots primarily to homebuilders; undeveloped land through its retail sales programs, as well as operates commercial real estate and income producing properties, such as a hotel and multifamily properties. The company owns, directly or through ventures, approximately 4,600 acres of real estate projects located in 10 states and 14 markets in the United States; and has 2 real estate projects representing approximately 730 acres in the entitlement process in California. Forestar Group Inc. is headquartered in Austin, Texas.