Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 5,830	$ 35,145
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	1,772	1,066
Accrued incentive compensation expense	489	384
Share-based payment expense	2,744	1,581
Abandonment of lot option contracts	4,490	716
Impairment of real estate inventory	4,074	642
Amortization of debt issuance costs	406	456
Equity in earnings from unconsolidated entities	(1,313)	(817)
Distributions of income from unconsolidated entities	1,327	747
Non-cash lease expense	277	388
Provision for deferred income taxes	54	263
Other	(13)	(10)
Changes in assets and liabilities:
Real estate inventory	(32,853)	(63,953)
Deposits on real estate under option or contract	(5,015)	(30,062)
Other assets	(5,815)	677
Accounts payable	25,005	(1,411)
Customer deposits	2,919	602
Accrued expenses and other liabilities	472	(10,261)
Net cash provided by (used in) operating activities	4,850	(63,847)
Cash flows from investing activities:
Purchases of property and equipment	(1,139)	(3,156)
Investments in unconsolidated entities	(25)	(1,086)
Other	12	17
Net cash used in investing activities	(1,152)	(4,225)
Cash flows from financing activities:
Borrowings under revolving credit facility	131,000	149,000
Repayments under revolving credit facility	(108,000)	(80,100)
Payments on notes payable	(908)	(832)
Payments on notes payable - related party	(259)	(40)
Proceeds from sales of real estate not owned	12,300	27,115
Payments related to repurchases of real estate not owned	(16,100)	(6,818)
Distributions	(8,934)	(23,621)
Payment of debt issuance costs	(100)	(2,218)
Payments of shares withheld for taxes	(648)	0
TRA payments	(475)	0
Share repurchases	(10,115)	0
Net cash (used in) provided by financing activities	(2,239)	62,486
Net increase (decrease) in cash and cash equivalents	1,459	(5,586)
Cash and cash equivalents, beginning of period	12,741	22,363
Cash and cash equivalents, end of period	14,200	16,777
Supplemental Disclosure of Cash Flow Information:
Cash paid for interest, net of amounts capitalized	950	629
Cash paid for income taxes	964	1,331
Right-of-use assets obtained in exchange for new operating lease liabilities	929	574
Nonrelated Party
Supplemental Disclosure of Cash Flow Information:
Capital expenditures financed by issuance of related party note payable	118	0
Related Party
Supplemental Disclosure of Cash Flow Information:
Capital expenditures financed by issuance of related party note payable	$ 0	$ 3,000