CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating activities
Net income	$ 41,541	$ 33,133
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	1,506	1,936
Net change in deferred income taxes	(2)	(1,448)
Stock based compensation expense	4,087	4,828
Equity in earnings of unconsolidated joint ventures	(3,810)	(1,781)
Distributions from unconsolidated joint ventures	896	696
Net changes in operating assets and liabilities:
Restricted cash	504	0
Receivables	442	(2,322)
Escrow proceeds receivable	3,041	(2,905)
Real estate inventories	(146,678)	(323,693)
Other assets	2,806	(2,339)
Accounts payable	1,040	63,494
Accrued expenses	11,649	10,047
Net cash used in operating activities	(82,978)	(220,354)
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	(773)	(1,288)
Net cash provided by (used in) investing activities	5,415	(2,288)
Financing activities
Proceeds from borrowings on notes payable	111,992	84,926
Principal payments on notes payable	(91,250)	(21,123)
Proceeds from issuance of 7% senior notes	0	51,000
Proceeds from borrowings on Revolver	198,000	194,000
Payments on Revolver	(167,000)	(109,000)
Principal payments on subordinated amortizing notes	(5,096)	(4,999)
Payment of deferred loan costs	(792)	(1,755)
Proceeds from stock options exercised	0	106
Shares remitted to, or withheld by the Company for employee tax withholding	(918)	(1,826)
Excess income tax benefit from stock based awards	(238)	0
Noncontrolling interest contributions	36,140	13,125
Noncontrolling interest distributions	(12,768)	(8,204)
Net cash provided by financing activities	68,070	196,250
Net decrease in cash and cash equivalents	(9,493)	(26,392)
Cash and cash equivalents — beginning of period	50,203	52,771
Cash and cash equivalents — end of period	40,710	26,379
Supplemental disclosures:
Cash paid during the period for income taxes	6,914	10,731
Supplemental disclosures of non-cash investing and financing activities:
Issuance of note payable related to land acquisition	32,419	9,500
Accrued deferred loan costs	$ 43	$ 0