Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

Schedule of Reconciliation of Revenue from Segments to Consolidated

The following tables present operating results relating to our homebuilding and financial services operations:

	Three Months Ended March 31, 2026
	(Dollars in thousands)
	Homebuilding
	Pacific Northwest		California		Desert		Mountain		Texas		East		Corporate		Total
Home sale revenues	$	210,921	$	219,059	$	268,206	$	205,567	$	192,983	$	105,319	$	—	$	1,202,055
Land sale revenues	$	3,300	$	—	$	—	$	—	$	3,713	$	—	$	—	$	7,013
Other revenues	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Home cost of sales	$	(179,858)	$	(183,758)	$	(227,499)	$	(175,429)	$	(159,555)	$	(92,153)	$	—	$	(1,018,252)
Inventory impairments	$	(700)	$	—	$	(1,450)	$	—	$	—	$	(2,350)	$	—	$	(4,500)
Land cost of sales	$	(2,613)	$	—	$	—	$	—	$	(2,459)	$	—	$	—	$	(5,072)
Other cost of sales	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Selling, general and administrative expenses	$	(32,140)	$	(38,309)	$	(41,042)	$	(27,325)	$	(32,674)	$	(22,288)	$	650	$	(193,128)
Interest and other income (1)	$	(82)	$	84	$	60	$	136	$	474	$	31	$	381	$	1,084
Other expense (3)	$	(80)	$	(380)	$	(1,492)	$	(870)	$	—	$	(870)	$	—	$	(3,692)
Pretax income (loss)	$	(1,252)	$	(3,304)	$	(3,217)	$	2,079	$	2,482	$	(12,311)	$	1,031	$	(14,492)

	Three Months Ended March 31, 2026
	(Dollars in thousands)
	Financial Services
	Mortgage Operations		Other		Total
Revenues	$	15,404	$	12,273	$	27,677
Expenses (2)	$	(18,723)	$	(6,301)	$	(25,024)
Other income (3)	$	1,841	$	1,021	$	2,862
Pretax income (loss)	$	(1,478)	$	6,993	$	5,515

	Three Months Ended March 31, 2025
	(Dollars in thousands)
	Homebuilding
	Pacific Northwest		California		Desert		Mountain		Texas		East		Corporate		Total
Home sale revenues	$	225,190	$	251,016	$	334,511	$	323,376	$	213,867	$	158,415	$	—	$	1,506,375
Land sale revenues	$	290	$	—	$	—	$	—	$	1,153	$	—	$	—	$	1,443
Other revenues	$	3,219	$	41	$	—	$	—	$	—	$	—	$	—	$	3,260
Home cost of sales	$	(184,740)	$	(201,776)	$	(273,123)	$	(271,718)	$	(172,633)	$	(136,390)	$	—	$	(1,240,380)
Inventory impairments	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Land cost of sales	$	245	$	(60)	$	—	$	—	$	(945)	$	—	$	—	$	(760)
Other cost of sales	$	(2,835)	$	(4)	$	—	$	—	$	—	$	—	$	—	$	(2,839)
Selling, general and administrative expenses	$	(29,284)	$	(36,607)	$	(39,947)	$	(30,499)	$	(28,378)	$	(21,392)	$	(5,385)	$	(191,492)
Interest and other income (1)	$	(37)	$	181	$	71	$	52	$	440	$	72	$	6,325	$	7,104
Other expense (3)	$	(110)	$	(1,089)	$	(323)	$	(540)	$	(788)	$	(800)	$	(229)	$	(3,879)
Pretax income	$	11,938	$	11,702	$	21,189	$	20,671	$	12,716	$	(95)	$	711	$	78,832

	Three Months Ended March 31, 2025
	(Dollars in thousands)
	Financial Services
	Mortgage Operations		Other		Total
Revenues	$	21,456	$	17,058	$	38,514
Expenses (2)	$	(20,799)	$	(6,856)	$	(27,655)
Other income (3)	$	1,508	$	2,301	$	3,809
Pretax income	$	2,165	$	12,503	$	14,668

(1) Includes interest income and gain (loss) on sale of other assets.

(2) Includes interest expense and general and administrative expense.

(3) Includes abandoned project costs and other non-operating expenses (Homebuilding) and interest income (Financial Services).

Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following tables present operating results relating to our homebuilding and financial services operations:

	Three Months Ended March 31, 2026
	(Dollars in thousands)
	Homebuilding
	Pacific Northwest		California		Desert		Mountain		Texas		East		Corporate		Total
Home sale revenues	$	210,921	$	219,059	$	268,206	$	205,567	$	192,983	$	105,319	$	—	$	1,202,055
Land sale revenues	$	3,300	$	—	$	—	$	—	$	3,713	$	—	$	—	$	7,013
Other revenues	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Home cost of sales	$	(179,858)	$	(183,758)	$	(227,499)	$	(175,429)	$	(159,555)	$	(92,153)	$	—	$	(1,018,252)
Inventory impairments	$	(700)	$	—	$	(1,450)	$	—	$	—	$	(2,350)	$	—	$	(4,500)
Land cost of sales	$	(2,613)	$	—	$	—	$	—	$	(2,459)	$	—	$	—	$	(5,072)
Other cost of sales	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Selling, general and administrative expenses	$	(32,140)	$	(38,309)	$	(41,042)	$	(27,325)	$	(32,674)	$	(22,288)	$	650	$	(193,128)
Interest and other income (1)	$	(82)	$	84	$	60	$	136	$	474	$	31	$	381	$	1,084
Other expense (3)	$	(80)	$	(380)	$	(1,492)	$	(870)	$	—	$	(870)	$	—	$	(3,692)
Pretax income (loss)	$	(1,252)	$	(3,304)	$	(3,217)	$	2,079	$	2,482	$	(12,311)	$	1,031	$	(14,492)

	Three Months Ended March 31, 2026
	(Dollars in thousands)
	Financial Services
	Mortgage Operations		Other		Total
Revenues	$	15,404	$	12,273	$	27,677
Expenses (2)	$	(18,723)	$	(6,301)	$	(25,024)
Other income (3)	$	1,841	$	1,021	$	2,862
Pretax income (loss)	$	(1,478)	$	6,993	$	5,515

	Three Months Ended March 31, 2025
	(Dollars in thousands)
	Homebuilding
	Pacific Northwest		California		Desert		Mountain		Texas		East		Corporate		Total
Home sale revenues	$	225,190	$	251,016	$	334,511	$	323,376	$	213,867	$	158,415	$	—	$	1,506,375
Land sale revenues	$	290	$	—	$	—	$	—	$	1,153	$	—	$	—	$	1,443
Other revenues	$	3,219	$	41	$	—	$	—	$	—	$	—	$	—	$	3,260
Home cost of sales	$	(184,740)	$	(201,776)	$	(273,123)	$	(271,718)	$	(172,633)	$	(136,390)	$	—	$	(1,240,380)
Inventory impairments	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Land cost of sales	$	245	$	(60)	$	—	$	—	$	(945)	$	—	$	—	$	(760)
Other cost of sales	$	(2,835)	$	(4)	$	—	$	—	$	—	$	—	$	—	$	(2,839)
Selling, general and administrative expenses	$	(29,284)	$	(36,607)	$	(39,947)	$	(30,499)	$	(28,378)	$	(21,392)	$	(5,385)	$	(191,492)
Interest and other income (1)	$	(37)	$	181	$	71	$	52	$	440	$	72	$	6,325	$	7,104
Other expense (3)	$	(110)	$	(1,089)	$	(323)	$	(540)	$	(788)	$	(800)	$	(229)	$	(3,879)
Pretax income	$	11,938	$	11,702	$	21,189	$	20,671	$	12,716	$	(95)	$	711	$	78,832

	Three Months Ended March 31, 2025
	(Dollars in thousands)
	Financial Services
	Mortgage Operations		Other		Total
Revenues	$	21,456	$	17,058	$	38,514
Expenses (2)	$	(20,799)	$	(6,856)	$	(27,655)
Other income (3)	$	1,508	$	2,301	$	3,809
Pretax income	$	2,165	$	12,503	$	14,668

(1) Includes interest income and gain (loss) on sale of other assets.

(2) Includes interest expense and general and administrative expense.

(3) Includes abandoned project costs and other non-operating expenses (Homebuilding) and interest income (Financial Services).

Schedule of Reconciliation of Assets from Segment to Consolidated

The assets in our financial services operations consist mostly of cash and cash equivalents and mortgage loans held-for-sale.

	March 31, 2026		December 31, 2025
	(Dollars in thousands)
Homebuilding assets
Pacific Northwest	$	1,122,345	$	1,222,938
California	1,764,597		1,720,250
Desert	1,699,815		1,697,152
Mountain	1,003,821		1,059,501
Texas	1,245,893		1,150,647

East	845,036		890,772
Corporate	217,512		481,229
Total homebuilding assets	$	7,899,019	$	8,222,489
Financial services assets
Mortgage Operations	$	271,554	$	265,655
Other	77,284		73,802
Total financial services assets	$	348,838	$	339,457
Total assets	$	8,247,857	$	8,561,946