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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income $ 64,332 $ 33,311
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,475 3,292
Stock-based compensation expense 2,796 5,360
Fair value of mortgage loans held for sale and other (2,443) 205
Impairment on other investment 7,722  
Purchase price accounting for acquired work in process inventory 1,581  
Abandonment of lot option contracts 762 638
Deferred income taxes (603) (83)
Loss on disposition of assets 274 198
Changes in assets and liabilities:    
Cash held in escrow 17,069 43,878
Accounts receivable 10,823 10
Inventories (68,001) 90,152
Mortgage loans held for sale 29,118 48,241
Prepaid expenses and other assets (7,050) 8,247
Accounts payable (11,592) (401)
Accrued expenses and other liabilities (28,671) (41,714)
Net cash provided by operating activities 21,592 191,334
Investing activities    
Purchases of property and equipment (5,922) (4,820)
Expenditures related to development of rental properties (25,950) (16,268)
Business combination and other investing activities (32,716) 152
Net cash used in investing activities (64,588) (20,936)
Financing activities    
Borrowings under revolving credit facilities 211,000  
Payments on revolving credit facilities (211,000)  
Borrowing under construction loan agreements 15,972 7,137
Proceeds from issuance of insurance premium notes and other 11,166 3,032
Principal payments on insurance premium notes and other (20,245) (3,364)
Net proceeds (payments) for mortgage repurchase facilities (26,851) (47,842)
Withholding of common stock upon vesting of stock-based compensation awards (10,415) (9,880)
Repurchases of common stock under stock repurchase program (16,109)  
Dividend payments (8,264) (7,365)
Other financing activities
Net cash used in financing activities (54,746) (58,282)
Net increase (decrease) (97,742) 112,116
Cash and cash equivalents and Restricted cash, Beginning of period 242,003 308,492
Cash and cash equivalents and Restricted cash, End of period 144,261 420,608
Supplemental cash flow disclosure    
Cash paid for income taxes
Cash and cash equivalents and Restricted cash    
Cash and cash equivalents 122,840 405,722
Restricted cash (Note 5) 21,421 14,886
Cash and cash equivalents and Restricted cash $ 144,261 $ 420,608