CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating activities
Net income	$ 25,027	$ 20,856
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	1,005	1,407
Net change in deferred income taxes	(120)	(1,786)
Stock based compensation expense	2,561	3,157
Equity in earnings of unconsolidated joint ventures	(2,375)	(763)
Distributions from unconsolidated joint ventures	617	362
Net changes in operating assets and liabilities:
Restricted cash	504	0
Receivables	1,817	740
Escrow proceeds receivable	740	(5,338)
Real estate inventories	(123,186)	(137,049)
Other assets	1,870	(4,161)
Accounts payable	13,212	17,702
Accrued expenses	3,423	(67)
Net cash used in operating activities	(74,905)	(104,940)
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	(619)	(247)
Net cash provided by (used in) investing activities	5,569	(1,247)
Financing activities
Proceeds from borrowings on notes payable	82,869	28,394
Principal payments on notes payable	(42,099)	(11,848)
Proceeds from borrowings on Revolver	120,000	144,000
Payments on Revolver	(126,000)	(40,000)
Principal payments on subordinated amortizing notes	(3,374)	(3,368)
Payment of deferred loan costs	(214)	(799)
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	(178)	0
Noncontrolling interest contributions	33,963	5,625
Noncontrolling interest distributions	(5,226)	(6,417)
Net cash provided by financing activities	58,897	114,061
Net (decrease) increase in cash and cash equivalents	(10,439)	7,874
Cash and cash equivalents — beginning of period	50,203	52,771
Cash and cash equivalents — end of period	39,764	60,645
Cash paid during the period for income taxes	2,210	100
Supplemental disclosures of non-cash investing and financing activities:
Issuance of note payable related to land acquisition	$ 29,439	$ 9,500