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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Statement of Cash Flows [Abstract]      
Net Income (Loss) Attributable to Parent $ 429,645 $ 323,895 $ 178,608
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 1,154 710 643
Loss on extinguishment of debt 13,976 0 169
Loss (gain) on disposal of assets (717) (4) 37
Compensation expense for equity awards 13,595 13,517 7,539
Deferred income taxes 788 (2,365) (1,831)
Changes in assets and liabilities:      
Accounts receivable 58,030 (59,549) (13,554)
Real estate inventory (463,643) (70,228) (266,651)
Pre-acquisition costs and deposits 3,238 32 8,507
Other assets (28,689) (25,686) 6,228
Accounts payable (760) 1,181 3,254
Accrued expenses and other liabilities (4,917) 20,655 35,117
Net cash provided by (used in) operating activities 21,700 202,158 (41,934)
Cash flows from investing activities:      
Purchases of property and equipment (1,729) (2,692) (734)
Investment in unconsolidated entities (1,692) (2,956) (1,059)
Payment for business acquisitions (66,970) 0 0
Net cash used in investing activities (70,391) (5,648) (1,793)
Cash flows from financing activities:      
Proceeds from notes payable 1,239,818 377,064 309,308
Payments on notes payable (969,000) (530,000) (273,762)
Redemption premium (10,314) 0 0
Loan issuance costs (10,572) (2,155) (2,984)
Proceeds from sale of stock, net of offering expenses 7,114 4,259 2,886
Stock repurchases (193,783) (48,081) 0
Net cash provided by (used in) financing activities 63,263 (198,913) 35,448
Net increase (decrease) in cash and cash equivalents 14,572 (2,403) (8,279)
Cash and cash equivalents, beginning of year 35,942 38,345 46,624
Cash and cash equivalents, end of year $ 50,514 $ 35,942 $ 38,345