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Fair Value Measurements Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
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, 2020 and 2019:
December 31,
Description of Financial Instrument (in thousands)20202019
Whole loan contracts and related committed IRLCs$2,354 $1,445 
Uncommitted IRLCs208,500 87,340 
FMBSs related to uncommitted IRLCs183,000 88,000 
Whole loan contracts and related mortgage loans held for sale78,142 6,125 
FMBSs related to mortgage loans held for sale131,000 144,000 
Mortgage loans held for sale covered by FMBSs148,331 144,411 
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, 2020, 2019 and 2018:
Year Ended December 31,
Description (in thousands)202020192018
Mortgage loans held for sale$318 $(2,261)$3,763 
Forward sales of mortgage-backed securities(1,304)2,969 (3,482)
Interest rate lock commitments964 (370)783 
Whole loan contracts(360)173 (231)
Total (loss) gain recognized$(382)$511 $833 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The following tables set forth the fair value of the Company’s derivative instruments and their location within the Consolidated Balance Sheets for the periods indicated (except for mortgage loans held for sale which are disclosed as a separate line item):
Asset DerivativesLiability Derivatives
December 31, 2020December 31, 2020
Description of DerivativesBalance Sheet
Location		Fair Value
(in thousands)		Balance Sheet LocationFair Value
(in thousands)
Forward sales of mortgage-backed securitiesOther assets$— Other liabilities$1,640 
Interest rate lock commitmentsOther assets1,664 Other liabilities— 
Whole loan contractsOther assets— Other liabilities422 
Total fair value measurements$1,664 $2,062 
Asset DerivativesLiability Derivatives
December 31, 2019December 31, 2019
Description of DerivativesBalance Sheet
Location		Fair Value
(in thousands)		Balance Sheet LocationFair Value
(in thousands)
Forward sales of mortgage-backed securitiesOther assets$— Other liabilities$336 
Interest rate lock commitmentsOther assets654 Other liabilities— 
Whole loan contractsOther assets— Other liabilities16 
Total fair value measurements$654 $352 
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, 2020, 2019 and 2018:
Year Ended December 31,
Description (in thousands)Fair Value Hierarchy2020
2019 (2)
2018 (2)
Adjusted basis of inventory (1)
Level 3$16,324 $12,321 $14,515 
Total losses8,435 5,002 5,809 
Initial basis of inventory (3)
$24,759 $17,323 $20,324 
(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.
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, 2020 and 2019. 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, 2020December 31, 2019
(In thousands)Fair Value HierarchyCarrying AmountFair ValueCarrying AmountFair Value
Assets:
Cash, cash equivalents and restricted cashLevel 1$260,810 $260,810 $6,083 $6,083 
Mortgage loans held for saleLevel 2234,293 234,293 155,244 155,244 
Interest rate lock commitmentsLevel 21,664 1,664 654 654 
Liabilities:
Notes payable - homebuilding operationsLevel 2— — 66,000 66,000 
Notes payable - financial services operationsLevel 2225,634 225,634 136,904 136,904 
Notes payable - otherLevel 24,072 3,647 5,828 5,286 
Senior notes due 2021 (a)
Level 2— — 300,000 299,250 
Senior notes due 2025 (a)
Level 2250,000 259,375 250,000 261,563 
Senior notes due 2028 (a)
Level 2400,000 421,000 — — 
Whole loan contracts for committed IRLCs and mortgage loans held for saleLevel 2422 422 16 16 
Forward sales of mortgage-backed securitiesLevel 21,640 1,640 336 336 
(a)Our senior 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.