Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Cash Flows from Operating Activities
Net income before allocation to non-controlling interests	$ 213,731	$ 191,161
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Net income from unconsolidated entities	(1,975)	(2,751)
Stock compensation expense	7,785	5,483
Distributions of earnings from unconsolidated entities	3,096	2,897
Depreciation and amortization	9,021	10,250
Operating lease expense	4,945	5,903
Debt issuance costs amortization	665	741
Inventory impairments	14,878	0
Changes in operating assets and liabilities:
Real estate inventory and land deposits	(79,943)	(363,923)
Mortgage loans held for sale, prepaid expenses and other assets	(46,004)	(35,783)
Customer deposits	3,567	31,570
Accounts payable, accrued expenses and other liabilities	(117,349)	(22,133)
Income taxes payable	64,814	45,848
Net cash provided by/(used in) operating activities	77,231	(130,737)
Cash Flows from Investing Activities:
Purchase of property and equipment	(8,513)	(9,111)
Investments of capital into unconsolidated entities	(36,592)	(23,936)
Net cash used in investing activities	(45,105)	(33,047)
Cash Flows from Financing Activities
Repayments on loans payable and other borrowings	0	(11,544)
Borrowings on mortgage warehouse facilities	854,722	713,090
Repayments on mortgage warehouse facilities	(853,441)	(683,380)
Changes in stock option exercises and issuance of restricted stock units, net	(5,663)	(10,856)
Payment of principal portion of finance lease	(1,321)	(1,327)
Repurchase of common stock, net	(135,093)	(91,649)
Distributions to non-controlling interests of consolidated joint ventures	(393)	(257)
Net cash used in financing activities	(141,189)	(85,923)
Net Decrease in Cash and Cash Equivalents and Restricted Cash	(109,063)	(249,707)
Cash, Cash Equivalents, and Restricted Cash — Beginning of period	487,166	807,099
Cash, Cash Equivalents, and Restricted Cash — End of period	378,103	557,392
Supplemental Cash Flow Information
Income tax paid, net	(24)	120
Supplemental Non-Cash Investing and Financing Activities:
Change in loans payable issued to sellers in connection with land purchase contracts	220	100,453
Change in inventory not owned	55,200	71,811
Accrual of excise tax on share repurchases	$ (1,023)	$ 0