CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities
Net income	$ 9,941	$ 7,606
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	498	557
Net change in deferred income taxes	95	(322)
Stock based compensation expense	1,492	1,351
Equity in earnings of unconsolidated joint ventures	(1,181)	(248)
Distributions from unconsolidated joint ventures	324	76
Net changes in operating assets and liabilities:
Restricted cash	(1)	0
Receivables	2,382	11
Escrow proceeds receivable	17	(4,278)
Real estate inventories	(77,662)	(63,101)
Other assets	317	978
Accounts payable	2,973	7,439
Accrued expenses	1,269	(11,165)
Net cash used in operating activities	(59,536)	(61,096)
Investing activities
Investments in and advances to unconsolidated joint ventures	0	(1,000)
Collection of related party note receivable	6,188	0
Purchases of property and equipment	(526)	(150)
Net cash (used in) provided by investing activities	5,662	(1,150)
Financing activities
Proceeds from borrowings on notes payable	53,162	6,148
Principal payments on notes payable	(26,526)	(6,962)
Proceeds from borrowings on Revolver	55,000	89,000
Payments on Revolver	(71,000)	(40,000)
Principal payments on subordinated amortizing notes	(1,676)	(1,760)
Payment of deferred loan costs	(197)	(561)
Proceeds from stock options exercised	0	106
Shares remitted to, or withheld by the Company for employee tax withholding	(844)	(1,632)
Excess income tax benefit from stock based awards	(226)	0
Noncontrolling interest contributions	33,241	0
Noncontrolling interest distributions	(1,465)	(5,414)
Net cash provided by financing activities	39,469	38,925
Net decrease in cash and cash equivalents	(14,405)	(23,321)
Cash and cash equivalents — beginning of period	50,203	52,771
Cash and cash equivalents — end of period	35,798	29,450
Cash paid during the year for income taxes	100	6,229
Supplemental disclosures of non-cash investing and financing activities:
Issuance of note payable related to land acquisition	$ 0	$ 9,500