Note 6 - Investments in and Advances to Unconsolidated Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Equity Method Investments [Table Text Block]

	December 31,
	2020			2019
	(Dollars in thousands)
Cash and cash equivalents	$	16,709		$	31,484
Restricted cash		611			13,852
Real estate inventories		3,172			241,416
Other assets		1,834			3,843
Total assets	$	22,326		$	290,595
Accounts payable and accrued liabilities	$	13,487		$	16,778
Notes payable		—			28,665
Total liabilities		13,487			45,443
The New Home Company's equity (1)		2,107			27,722
Other partners' equity		6,732			217,430
Total equity		8,839			245,152
Total liabilities and equity	$	22,326		$	290,595
Debt-to-capitalization ratio		—	%		10.5	%
Debt-to-equity ratio		—	%		11.7	%

	Year Ended December 31,
	2020			2019			2018
	(Dollars in thousands)
Revenues	$	137,819		$	164,038		$	181,623
Cost of sales and expenses		161,772			230,953			209,527
Net loss of unconsolidated joint ventures	$	(23,953	)	$	(66,915	)	$	(27,904	)
Equity in net loss of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations	$	(18,791	)	$	(3,503	)	$	(19,653	)

	Year Ended December 31,
	2020			2019			2018
	(Dollars in thousands)
Revenues	$	55,517		$	33,144		$	38,789
Cost of sales:
Land sales		74,279			31,103			36,676
Inventory impairments		—			70,000			28,776
Gross margin		(18,762	)		(67,959	)		(26,663)
Expenses		(2,742	)		(2,879	)		(3,289	)
Net loss	$	(21,504	)	$	(70,838	)	$	(29,952	)
Equity in net loss of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations (1)	$	(17,744	)	$	(3,656	)	$	(20,283	)

Joint Venture Impairment [Table Text Block]

	Year Ended December 31,
	2020		2019		2018
	(Dollars in thousands)
Joint venture impairments related to:
Homebuilding joint ventures	$	—	$	—	$	—
Land development joint ventures		—		70,000		28,776
Total joint venture impairments	$	—	$	70,000	$	28,776
Number of projects impaired during the year		—		1		1
Total number of projects included in unconsolidated joint ventures and reviewed for impairment during the year		10		10		10