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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Statement of Cash Flows [Abstract]      
Net income $ 113,306 $ 75,031 $ 52,830
Adjustments to reconcile net income to net cash used in operating activities:      
Depreciation and amortization 791 1,089 883
Loss on disposal of assets 13 1 0
Excess tax benefits from stock based compensation 0 (138) (47)
Compensation expense for equity awards 4,188 3,396 2,279
Deferred income taxes (2,092) (2,562) 42
Changes in assets and liabilities:      
Accounts receivable (27,651) 270 (9,960)
Real estate inventory (200,609) (183,884) (151,707)
Pre-acquisition costs and deposits (8,215) (3,650) 2,877
Other assets (8,643) 5,472 (4,795)
Accounts payable (257) (11,747) 8,522
Accrued expenses and other liabilities 60,702 8,539 9,920
Net cash used in operating activities (68,467) (108,183) (89,156)
Cash flows from investing activities:      
Purchases of property and equipment (518) (722) (1,117)
Net cash used in investing activities (518) (722) (1,117)
Cash flows from financing activities:      
Proceeds from notes payable 100,000 140,000 245,382
Payments on notes payable (25,000) (45,000) (154,786)
Loan issuance costs (4,375) (2,684) (2,238)
Proceeds from sale of stock, net of offering expenses 17,130 29,448 9,593
Payment for offering costs (69) (204) (419)
Payment for earnout obligation (648) (843) (1,108)
Excess tax benefits from equity awards 0 138 47
Net cash provided by financing activities 87,038 120,855 96,471
Net increase in cash and cash equivalents 18,053 11,950 6,198
Cash and cash equivalents, beginning of year 49,518 37,568 31,370
Cash and cash equivalents, end of year $ 67,571 $ 49,518 $ 37,568