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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 17,657 $ 13,908
Depreciation, Depletion and Amortization 172 121
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Allocated Share-based Compensation Expense 2,072 834
Deferred income taxes, net 7,024 5,084
Changes in operating assets and liabilities    
Decrease in accounts receivable 67 1,128
Increase in inventory (25,749) (41,263)
(Increase) decrease in earnest money deposits (3,174) 2,963
(Increase) decrease in other assets (966) 1,041
(Decrease) increase in accounts payable 1,222 3,215
Increase in accrued expenses 138 3,403
Increase in customer and builder deposits 5,204 3,184
Net cash provided by (used in) operating activities 3,667 (6,382)
Cash flows from investing activities    
Acquisition of property and equipment 0 (164)
Net cash used in investing activities 0 (164)
Cash flows from financing activities    
Borrowings from lines of credit 27,500 40,000
Repayments of lines of credit (28,500) (24,000)
Repayments of notes payable (735) (1,157)
Payments Related to Tax Withholding for Share-based Compensation (586) 0
Contributions from noncontrolling interests 293 2,351
Distributions to noncontrolling interests (9,470) (6,292)
Net cash (used in) provided by financing activities (11,498) 10,902
Net (decrease) increase in cash, cash equivalents and restricted cash (7,831) 4,356
Cash, cash equivalents and restricted cash at beginning of period 39,602 21,301
Cash, cash equivalents and restricted cash at end of period 31,771  
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of capitalized interest 0 0
Cash paid for taxes 2,206 706
Supplemental disclosure of noncash investing and financing activities:    
Decrease in land not owned under option agreements $ 1,316 $ 3,263