Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Operating Activities:
Net income	$ 22,516	$ 2,265
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation expense	3,376	2,611
Depreciation and amortization	1,078	1,307
Write-offs of land option deposits	226	82
Amortization of discount (premiums) on marketable debt securities	619	(152)
Net changes in assets and liabilities:
Restricted cash	(667)	(413)
Trade and other receivables	(3,970)	(11,062)
Mortgage loans held-for-sale	33,524	23,345
Other assets	(6,696)	3,394
Accounts payable and accrued liabilities	(52,036)	(11,315)
Net cash used in operating activities	(55,418)	(18,813)
Investing Activities:
Purchase of marketable securities	(150,811)	(185,610)
Sale of marketable securities	44,668	182,021
Purchase of property and equipment	(926)	(364)
Net cash used in investing activities	(107,069)	(3,953)
Financing Activities:
Payments on mortgage repurchase facility	(79,769)	(53,625)
Advances on mortgage repurchase facility	44,910	30,763
Dividend payments		(11,994)
Proceeds from issuance of senior notes	247,813
Proceeds from exercise of stock options	5,118
Net cash provided by (used in) financing activities	218,072	(34,856)
Net increase (decrease) in cash and cash equivalents	55,585	(57,622)
Cash and cash equivalents:
Beginning of period	160,095	343,361
End of period	215,680	285,739
Housing Completed or Under Construction [Member]
Net changes in assets and liabilities:
Housing completed or under construction	(8,618)	(45,875)
Land and Land Under Development [Member]
Net changes in assets and liabilities:
Housing completed or under construction	$ (44,770)	$ 17,000