CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating activities
Net income	$ 10,955	$ 25,027
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	891	1,005
Net change in deferred income taxes	471	(120)
Stock based compensation expense	3,215	2,561
Equity in earnings of unconsolidated joint ventures	(1,462)	(2,375)
Distributions from unconsolidated joint ventures	702	617
Loss on extinguishment of debt	21,828	0
Net changes in operating assets and liabilities:
Restricted cash	0	504
Receivables	1,042	1,817
Escrow proceeds receivable	46	740
Real estate inventories	(92,306)	(123,186)
Other assets	(2,939)	1,870
Accounts payable	4,510	13,212
Accrued expenses	(13,765)	3,423
Net cash used in operating activities	(66,812)	(74,905)
Investing activities
Collection of related party note receivable	0	6,188
Purchases of property and equipment	(234)	(619)
Net cash (used in) provided by investing activities	(234)	5,569
Financing activities
Proceeds from borrowings on notes payable	49,478	82,869
Principal payments on notes payable	(53,143)	(42,099)
Redemption premium of 8.5% Senior Notes	(19,645)	0
Principal payments of 8.5% Senior Notes	(425,000)	0
Proceeds from issuance of 7% senior notes	446,468	0
Proceeds from borrowings on Revolver	190,000	120,000
Payments on Revolver	(154,000)	(126,000)
Principal payments on subordinated amortizing notes	(3,737)	(3,374)
Payment of deferred loan costs	(9,666)	(214)
Shares remitted to, or withheld by the Company for employee tax withholding	(1,380)	(844)
Excess income tax benefit from stock based awards	0	(178)
Noncontrolling interest contributions	51,291	33,963
Noncontrolling interest distributions	(13,659)	(5,226)
Net cash provided by financing activities	57,007	58,897
Net decrease in cash and cash equivalents	(10,039)	(10,439)
Cash and cash equivalents — beginning of period	42,612	50,203
Cash and cash equivalents — end of period	32,573	39,764
Supplemental disclosures:
Cash paid during the period for income taxes	16,930	2,210
Supplemental disclosures of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for new operating lease liabilities	5,058	613
Issuance of note payable related to land acquisition	$ 0	$ 29,439