Note 8 - Capitalization of Interest (Tables)

6 Months Ended

Jun. 30, 2013

Home Building Interest [Text Block]

Schedule of Capitalized Interest [Table Text Block]

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
	(Dollars in thousands)
Total interest incurred (1)	$	33,526		$	35,305		$	68,553		$	70,620
Less: Interest capitalized to inventories owned		(32,782	)		(31,876	)		(66,983	)		(62,868	)
Less: Interest capitalized to investments in unconsolidated joint ventures		(744	)		(1,812	)		(1,570	)		(3,605	)
Interest expense	$	―		$	1,617		$	―		$	4,147
Interest previously capitalized to inventories owned, included in cost of home sales	$	30,337		$	24,465		$	58,033		$	43,021
Interest previously capitalized to inventories owned, included in cost of land sales	$	325		―			$	514		$	19
Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures	$	123		$	231		$	292		$	435
Interest capitalized in ending inventories owned (2)	$	231,974		$	208,354		$	231,974		$	208,354
Interest capitalized as a percentage of inventories owned		10.0	%		13.0	%		10.0	%		13.0	%
Interest capitalized in ending investments in unconsolidated joint ventures (2)	$	6,063		$	12,281		$	6,063		$	12,281
Interest capitalized as a percentage of investments in unconsolidated joint ventures		10.5	%		14.4	%		10.5	%		14.4	%