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Fair Value Measurements Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2018
Fair Value Measurements [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
The table below shows the notional amounts of our financial instruments at December 31, 2018 and 2017:
 
December 31,
Description of Financial Instrument (in thousands)
2018
 
2017
Best efforts contracts and related committed IRLCs
$
5,823

 
$
2,182

Uncommitted IRLCs
76,117

 
50,746

FMBSs related to uncommitted IRLCs
83,000

 
53,000

Best efforts contracts and related mortgage loans held for sale
14,285

 
80,956

FMBSs related to mortgage loans held for sale
150,000

 
91,000

Mortgage loans held for sale covered by FMBSs
149,980

 
90,781
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
The table below shows the level and measurement of assets and liabilities measured on a recurring basis at December 31, 2018 and 2017:
Description of Financial Instrument (in thousands)
Fair Value Measurements
December 31, 2018
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
Mortgage loans held for sale
$
169,651

 
$
—

 
$
169,651

 
$
—

Forward sales of mortgage-backed securities
(3,305
)
 
—

 
(3,305
)
 
—

Interest rate lock commitments
989

 
—

 
989

 
—

Whole loan contracts
(154
)
 
—

 
(154
)
 
—

Total
$
167,181

 
$
—

 
$
167,181

 
$
—

Description of Financial Instrument (in thousands)
Fair Value Measurements
December 31, 2017
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
Mortgage loans held for sale
$
171,580

 
$
—

 
$
171,580

 
$
—

Forward sales of mortgage-backed securities
177

 
—

 
177

 
—

Interest rate lock commitments
271

 
—

 
271

 
—

Whole loan contracts
12

 
—

 
12

 
—

Total
$
172,040

 
$
—

 
$
172,040

 
$
—
Schedule of Derivative Instruments, (Loss) Gain in Statement of Financial Performance [Table Text Block]
The following table sets forth the amount of gain (loss) recognized, within our revenue in the Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the years ended December 31, 2018, 2017 and 2016:
 
Year Ended December 31,
Description (in thousands)
2018
 
2017
 
2016
Mortgage loans held for sale
$
3,763

 
$
3,675

 
$
(3,591
)
Forward sales of mortgage-backed securities
(3,482
)
 
(53
)
 
323

Interest rate lock commitments
783

 
21

 
(71
)
Whole loan contracts
(231
)
 
102

 
116

Total gain (loss) recognized
$
833

 
$
3,745

 
$
(3,223
)
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The following tables set forth the fair value of the Company’s derivative instruments and their location within the Consolidated Balance Sheets for the periods indicated (except for mortgage loans held for sale which is disclosed as a separate line item):
 
 
Asset Derivatives
 
Liability Derivatives
 
 
December 31, 2018
 
December 31, 2018
Description of Derivatives
 
Balance Sheet
Location
 
Fair Value
(in thousands)
 
Balance Sheet Location
 
Fair Value
(in thousands)
Forward sales of mortgage-backed securities
 
Other assets
 
$
—

 
Other liabilities
 
$
3,305

Interest rate lock commitments
 
Other assets
 
989

 
Other liabilities
 
—

Whole loan contracts
 
Other assets
 
—

 
Other liabilities
 
154

Total fair value measurements
 
 
 
$
989

 
 
 
$
3,459

 
 
Asset Derivatives
 
Liability Derivatives
 
 
December 31, 2017
 
December 31, 2017
Description of Derivatives
 
Balance Sheet
Location
 
Fair Value
(in thousands)
 
Balance Sheet Location
 
Fair Value
(in thousands)
Forward sales of mortgage-backed securities
 
Other assets
 
$
177

 
Other liabilities
 
$
—

Interest rate lock commitments
 
Other assets
 
271

 
Other liabilities
 
—

Whole loan contracts
 
Other assets
 
12

 
Other liabilities
 
—

Total fair value measurements
 
 
 
$
460

 
 
 
$
—
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]
The table below shows the level and measurement of assets measured on a non-recurring basis for the years ended December 31, 2018, 2017 and 2016:
 
 
Year Ended December 31,
Description (in thousands)
Hierarchy
2018
 
2017 (2)
 
2016 (2)
 
 
 
 
 
 
 
Adjusted basis of inventory (1)
Level 3
$
14,515

 
$
3,823

 
$
12,921

Total losses
 
5,809

 
7,681

 
3,992

 
 
 
 
 
 
 
Initial basis of inventory (3)
 
$
20,324

 
$
11,504

 
$
16,913

(1)
The fair values in the table above represent only assets whose carrying values were adjusted in the respective period.
(2)
The carrying values for these assets may have subsequently increased or decreased from the fair value reported due to activities that have occurred since the measurement date.
(3)
This amount is inclusive of our investments in joint venture arrangements. There were no losses on our investments in joint venture arrangements for 2018, 2017 and 2016.
Fair Value, by Balance Sheet Grouping [Table Text Block]
The following table presents the carrying amounts and fair values of the Company’s financial instruments at December 31, 2018 and 2017. The objective of the fair value measurement is to estimate the price at which an orderly transaction to sell the asset or transfer the liability would take place between market participants at the measurement date under current market conditions.
 
 
December 31, 2018
 
December 31, 2017
(In thousands)
 
Carrying Amount
 
Fair Value
 
Carrying Amount
 
Fair Value
Assets:
 
 
 
 
 
 
 
 
Cash, cash equivalents and restricted cash
 
$
21,529

 
$
21,529

 
$
151,703

 
$
151,703

Mortgage loans held for sale
 
169,651

 
169,651

 
171,580

 
171,580

Split dollar life insurance policies
 
206

 
206

 
209

 
209

Commitments to extend real estate loans
 
989

 
989

 
271

 
271

Whole loan contracts for committed IRLCs and mortgage loans held for sale
 
—

 
—

 
12

 
12

Forward sales of mortgage-backed securities
 
—

 
—

 
177

 
177

Liabilities:
 
 
 
 
 
 
 
 
Notes payable - homebuilding operations
 
117,400

 
117,400

 
—

 
—

Notes payable - financial services operations
 
153,168

 
153,168

 
168,195

 
168,195

Notes payable - other
 
5,938

 
5,112

 
10,576

 
9,437

Convertible senior subordinated notes due 2018 (a)
 
—

 
—

 
86,250

 
93,581

Senior notes due 2021 (a)
 
300,000

 
298,500

 
300,000

 
310,875

Senior notes due 2025 (a)
 
250,000

 
228,750

 
250,000

 
252,500

Whole loan contracts for committed IRLCs and mortgage loans held for sale
 
154

 
154

 
—

 
—

Forward sales of mortgage-backed securities
 
3,305

 
3,305

 
—

 
—

Off-Balance Sheet Financial Instruments:
 
 
 
 
 
 
 
 
Letters of credit
 
—

 
944

 
—

 
1,083


(a)
Our senior notes and convertible senior subordinated notes are stated at the principal amount outstanding which does not include the impact of premiums, discounts, and debt issuance costs that are amortized to interest cost over the respective terms of the notes.