CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating activities
Net income	$ 15,134	$ 12,588
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	745	2,056
Net change in deferred income taxes	341	199
Stock based compensation expense	2,765	3,181
Equity in income of unconsolidated joint ventures	(912)	(932)
Distributions from unconsolidated joint ventures	951	3,575
(Gain) loss on extinguishment of debt	(383)	0
Net changes in operating assets and liabilities:
Receivables	(2,074)	(2,226)
Escrow proceeds receivable	(2,659)	1,767
Real estate inventories - owned	30,894	79,895
Other assets, net	(2,958)	(1,275)
Accounts payable	(19,865)	20,739
Accrued expenses	(53,006)	(21,539)
Net cash (used in) provided by operating activities	(31,027)	98,028
Investing activities
Cash paid for acquisitions, net of cash acquired	0	475,221
Sales (purchases) of property and equipment	1,404	(2,442)
Net cash provided by (used in) investing activities	1,404	(477,663)
Financing activities
Proceeds from borrowings on notes payable	30,111	20,194
Principal payments on notes payable	(37,899)	(29,179)
Proceeds from borrowings on revolver	190,000	110,000
Payments on revolver	(125,000)	(25,000)
Payment of deferred loan costs	(43)	(5,877)
Shares remitted to, or withheld by the Company for employee tax withholding	(2,356)	(4,696)
Payments to repurchase common stock	0	(5,000)
Cash contributions from members of consolidated entities	1,389	4,062
Cash distributions to members of consolidated entities	(11,058)	(17,106)
Net cash provided by financing activities	41,553	247,398
Net increase (decrease) in cash and cash equivalents	11,930	(132,237)
Cash and cash equivalents — beginning of period	33,779	182,710
Cash and cash equivalents — end of period	45,709	50,473
Supplemental disclosures:
Cash paid for taxes	0	104
Supplemental disclosures of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for new operating lease liabilities	78	1,696
Accrued deferred loan costs	8	879
Inventory reclassified to Other assets upon adoption of ASC 606	0	5,365
Non-cash additions to Real estate inventories - not owned and Liabilities from inventories not owned	(21,491)	87,896
8 1/2% Senior Notes due November 15, 2020
Financing activities
Proceeds from issuance of 7% senior notes		350,000
5 3/4% Senior Notes due April 15, 2019
Financing activities
Principal payments of 8.5% Senior Notes	0	(150,000)
5 7/8% Senior Notes due January 31, 2025
Financing activities
Principal payments of 8.5% Senior Notes	(3,591)	0
Payments on revolver		(25,000)
6% Senior Notes due September 1, 2023
Financing activities
Proceeds from issuance of 7% senior notes	$ 0	$ 350,000