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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 8,226 $ 4,490
Depreciation, Depletion and Amortization 88 56
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Allocated Share-based Compensation Expense 1,912 245
Deferred income taxes, net 3,347 1,429
Changes in operating assets and liabilities    
Increase in accounts receivable (420) (812)
Decrease (increase) in inventory 3,152 (32,499)
(Increase) decrease in earnest money deposits (624) 2,993
(Increase) decrease in other assets (739) 718
(Decrease) increase in accounts payable (2,004) 3,285
Increase in accrued expenses 633 1,522
Increase in customer and builder deposits 2,979 2,133
Net cash provided by (used in) operating activities 16,550 (16,440)
Cash flows from investing activities    
Acquisition of property and equipment 0 (7)
Net cash used in investing activities 0 (7)
Cash flows from financing activities    
Borrowings from lines of credit 5,000 30,000
Repayments of lines of credit (17,500) (10,000)
Repayments of notes payable (725) (170)
Payments Related to Tax Withholding for Share-based Compensation (586) 0
Contributions from noncontrolling interests 88 2,228
Distributions to noncontrolling interests (4,597) (1,500)
Net cash (used in) provided by financing activities (18,320) 20,558
Net (decrease) increase in cash, cash equivalents and restricted cash (1,770) 4,111
Cash, cash equivalents and restricted cash at beginning of period 39,602 21,301
Cash, cash equivalents and restricted cash at end of period 37,832 25,412
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of capitalized interest 0 0
Cash paid for taxes $ 36 160
Supplemental disclosure of noncash investing and financing activities:    
Decrease in land not owned under option agreements   $ 1,032