Fair Value Measurements Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

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 March 31, 2025 and December 31, 2024:

Description of Financial Instrument (in thousands)	March 31, 2025		December 31, 2024
Uncommitted IRLCs	$	253,903	$	215,696
FMBSs related to uncommitted IRLCs	285,000		228,000
Whole loan contracts and related mortgage loans held for sale	10,136		17,667
FMBSs related to mortgage loans held for sale	211,000		252,000
Mortgage loans held for sale covered by FMBSs	225,597		276,140

Schedule of Derivative Instruments, (Loss) Gain in Statement of Financial Performance [Table Text Block]

The following table sets forth the amount of (loss) gain recognized, within our revenue in the Unaudited Condensed Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the three months ended March 31, 2025 and 2024:

	Three Months Ended March 31,
Description (in thousands)	2025		2024
Mortgage loans held for sale	$	5,544	$	(2,849)
Forward sales of mortgage-backed securities	(5,443)		7,241
Interest rate lock commitments	3,217		(857)
Whole loan contracts	(590)		(892)
Total gain (loss) recognized	$	2,728	$	2,643

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 Unaudited Condensed Consolidated Balance Sheets for the periods indicated (except for mortgage loans held for sale which are disclosed as a separate line item):

	Asset Derivatives			Liability Derivatives
	March 31, 2025			March 31, 2025
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	$	2,497
Interest rate lock commitments	Other assets	3,749		Other liabilities	—
Whole loan contracts	Other assets	—		Other liabilities	1,454
Total fair value measurements		$	3,749		$	3,951

	Asset Derivatives			Liability Derivatives
	December 31, 2024			December 31, 2024
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	$	2,946	Other liabilities	$	—
Interest rate lock commitments	Other assets	532		Other liabilities	—
Whole loan contracts	Other assets	—		Other liabilities	864
Total fair value measurements		$	3,478		$	864

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 March 31, 2025 and December 31, 2024. 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.

		March 31, 2025				December 31, 2024
(In thousands)	Fair Value Hierarchy	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash, cash equivalents and restricted cash	Level 1	$	776,378	$	776,378	$	821,570	$	821,570
Mortgage loans held for sale	Level 2	238,583		238,583		283,540		283,540
Interest rate lock commitments	Level 2	3,749		3,749		532		532
Forward sales of mortgage-backed securities	Level 2	—		—		2,946		2,946
Liabilities:
Notes payable - homebuilding operations	Level 2	—		—		—		—
Notes payable - financial services operations	Level 2	227,957		227,957		286,159		286,159
Senior notes due 2028 (a)	Level 2	400,000		386,500		400,000		383,500
Senior notes due 2030 (a)	Level 2	300,000		272,625		300,000		267,375
Whole loan contracts for committed IRLCs and mortgage loans held for sale	Level 2	1,454		1,454		864		864
Forward sales of mortgage-backed securities	Level 2	2,497		2,497		—		—

(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.