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Fair Value Measurements Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2024
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, 2024 and 2023:
December 31,
Description of Financial Instrument (in thousands)20242023
Uncommitted IRLCs$215,696 $174,274 
FMBSs related to uncommitted IRLCs228,000 174,000 
Whole loan contracts and related mortgage loans held for sale17,667 10,398 
FMBSs related to mortgage loans held for sale252,000 152,000 
Mortgage loans held for sale covered by FMBSs276,140 160,547 
Schedule of Derivative Instruments, (Loss) Gain in Statement of Financial Performance [Table Text Block]
The following table sets forth the amount of gain (loss) recognized, within our revenue in the Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the years ended December 31, 2024, 2023 and 2022:
Year Ended December 31,
Description (in thousands)202420232022
Mortgage loans held for sale$(6,746)$6,739 $407 
Forward sales of mortgage-backed securities10,166 (4,215)(7,482)
Interest rate lock commitments(3,085)2,829 1,282 
Whole loan contracts(529)43 (323)
Total gain (loss) recognized
$(194)$5,396 $(6,116)
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, 2024December 31, 2024
Description of DerivativesBalance Sheet
Location
Fair Value
(in thousands)
Balance Sheet LocationFair Value
(in thousands)
Forward sales of mortgage-backed securitiesOther assets$2,946 Other liabilities$ 
Interest rate lock commitmentsOther assets532 Other liabilities 
Whole loan contractsOther assets Other liabilities864 
Total fair value measurements$3,478 $864 
Asset DerivativesLiability Derivatives
December 31, 2023December 31, 2023
Description of DerivativesBalance Sheet
Location
Fair Value
(in thousands)
Balance Sheet LocationFair Value
(in thousands)
Forward sales of mortgage-backed securitiesOther assets$— Other liabilities$7,220 
Interest rate lock commitmentsOther assets3,617 Other liabilities— 
Whole loan contractsOther assets— Other liabilities335 
Total fair value measurements$3,617 $7,555 
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, 2024 and 2023. 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, 2024December 31, 2023
(In thousands)Fair Value HierarchyCarrying AmountFair ValueCarrying AmountFair Value
Assets:
Cash, cash equivalents and restricted cashLevel 1$821,570 $821,570 $732,804 $732,804 
Mortgage loans held for saleLevel 2283,540 283,540 176,329 176,329 
Interest rate lock commitmentsLevel 2532 532 3,617 3,617 
Forward sales of mortgage-backed securitiesLevel 22,946 2,946 — — 
Liabilities:
Notes payable - homebuilding operationsLevel 2  — — 
Notes payable - financial services operationsLevel 2286,159 286,159 165,844 165,844 
Senior notes due 2028 (a)
Level 2400,000 383,500 400,000 383,500 
Senior notes due 2030 (a)
Level 2300,000 267,375 300,000 267,375 
Whole loan contracts for committed IRLCs and mortgage loans held for saleLevel 2864 864 335 335 
Forward sales of mortgage-backed securitiesLevel 2  7,220 7,220 
(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.