Fair Value Measurements Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

The table below shows the notional amounts of our financial instruments at December 31, 2023 and 2022:

	December 31,
Description of Financial Instrument (in thousands)	2023		2022
Uncommitted IRLCs	$	174,274	$	262,529
FMBSs related to uncommitted IRLCs	174,000		341,088
Whole loan contracts and related mortgage loans held for sale	10,398		16,507
FMBSs related to mortgage loans held for sale	152,000		232,518
Mortgage loans held for sale covered by FMBSs	160,547		233,378

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

The following table sets forth the amount of gain (loss) recognized, within our revenue in the Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the years ended December 31, 2023, 2022 and 2021:

	Year Ended December 31,
Description (in thousands)	2023		2022		2021
Mortgage loans held for sale	$	6,739	$	407	$	(2,586)
Forward sales of mortgage-backed securities	(4,215)		(7,482)		6,117
Interest rate lock commitments	2,829		1,282		(2,143)
Whole loan contracts	43		(323)		353
Total gain (loss) recognized	$	5,396	$	(6,116)	$	1,741

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 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
	December 31, 2023			December 31, 2023
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	$	7,220
Interest rate lock commitments	Other assets	3,617		Other liabilities	—
Whole loan contracts	Other assets	—		Other liabilities	335
Total fair value measurements		$	3,617		$	7,555

	Asset Derivatives			Liability Derivatives
	December 31, 2022			December 31, 2022
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	$	3,005
Interest rate lock commitments	Other assets	787		Other liabilities	—
Whole loan contracts	Other assets	—		Other liabilities	377
Total fair value measurements		$	787		$	3,382

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 December 31, 2023 and 2022. 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.

		December 31, 2023				December 31, 2022
(In thousands)	Fair Value Hierarchy	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash, cash equivalents and restricted cash	Level 1	$	732,804	$	732,804	$	311,542	$	311,542
Mortgage loans held for sale	Level 2	176,329		176,329		242,539		242,539
Interest rate lock commitments	Level 2	3,617		3,617		787		787
Liabilities:
Notes payable - homebuilding operations	Level 2	—		—		—		—
Notes payable - financial services operations	Level 2	165,844		165,844		245,741		245,741
Senior notes due 2028 (a)	Level 2	400,000		383,500		400,000		353,500
Senior notes due 2030 (a)	Level 2	300,000		267,375		300,000		240,750
Whole loan contracts for committed IRLCs and mortgage loans held for sale	Level 2	335		335		377		377
Forward sales of mortgage-backed securities	Level 2	7,220		7,220		3,005		3,005

(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.