Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 18,478	$ 26,743
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization expense	1,209	415
Share-based compensation	318	0
Deferred income taxes, net	5,751	0
Changes in operating assets and liabilities
Increase in restricted cash	(588)	(604)
Decrease in accounts receivable	22	364
Increase in inventory	(31,470)	(27,657)
Increase in earnest money deposits	(9,965)	(3,891)
Increase in other assets	(1,143)	(536)
Increase in accounts payable	752	5,420
(Decrease) increase in accrued expenses	(3,492)	3,861
(Decrease) increase in customer and builder deposits	(1,358)	624
Net cash (used in) provided by operating activities	(21,486)	4,739
Cash flows from investing activities
Proceeds from sale of investment in direct financing leases	2,768	2,420
Issuance of notes receivable	0	(1,905)
Repayments of notes receivable	0	9,461
Acquisition of property and equipment	(998)	(1,217)
Net cash provided by investing activities	1,770	8,759
Cash flows from financing activities
Borrowings from lines of credit	42,460	9,500
Proceeds from notes payable	3,206	5,741
Repayments of lines of credit	(42,561)	(1,364)
Repayments of notes payable	(3,898)	(19,984)
Repayments of term loan facility	(150,000)	0
Proceeds from equity offering, net of issuance costs	169,983	0
Contributions from noncontrolling interests	87	592
Distributions to controlling interests	0	(5,782)
Distributions to noncontrolling interests	(6,423)	(11,439)
Net cash provided by (used in) financing activities	12,854	(22,736)
Net cash provided by (used in) financing activities	(6,862)	(9,238)
Cash and cash equivalents at beginning of period	21,267	16,683
Cash and cash equivalents at beginning of period	14,405	7,445
Supplemental disclosure of cash flow information:
Cash paid for interest, net of capitalized interest	9,168	1,053
Cash paid for taxes	1,143	383
Supplemental disclosure of noncash investing and financing activities:
Increase in land not owned under option agreements	$ (12,255)	$ 0