Tri Pointe Homes (TPH) 10-Q 25 Jul 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 16, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-35796
Entity Registrant Name	Tri Pointe Homes, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1763235
Entity Address, Address Line One	940 Southwood Blvd
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Incline Village
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89451
City Area Code	775
Local Phone Number	413-1030
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	TPH
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		93,589,441
Amendment Flag	false
Document Fiscal year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001561680
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 492,940	$ 868,953
Receivables	111,637	224,636
Real estate inventories	3,465,811	3,337,483
Investments in unconsolidated entities	133,591	131,824
Mortgage loans held for sale	32,936	0
Goodwill and other intangible assets, net	156,603	156,603
Deferred tax assets, net	37,996	37,996
Other assets	164,684	157,093
Total assets	4,596,198	4,914,588
Liabilities
Accounts payable	57,410	64,833
Accrued expenses and other liabilities	437,237	453,531
Loans payable	283,929	288,337
Senior notes, net	646,030	1,094,249
Mortgage repurchase facilities	32,096	0
Total liabilities	1,456,702	1,900,950
Commitments and contingencies (Note 13)
Stockholders’ equity:
Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding as June 30, 2024 and December 31, 2023, respectively	0	0
Common stock, $0.01 par value, 500,000,000 shares authorized;    93,862,218 and 95,530,512 shares issued and outstanding at   June 30, 2024 and December 31, 2023, respectively	939	955
Additional paid-in capital	0	0
Retained earnings	3,138,545	3,010,003
Total stockholders’ equity	3,139,484	3,010,958
Noncontrolling interests	12	2,680
Total equity	3,139,496	3,013,638
Total liabilities and equity	$ 4,596,198	$ 4,914,588

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock authorized (in shares)	50,000,000	50,000,000
Preferred stock issued (in shares)	0	0
Preferred stock outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	500,000,000	500,000,000
Common stock issued (in shares)	93,862,218	95,530,512
Common stock outstanding (in shares)	93,862,218	95,530,512

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues	$ 1,154,924	$ 837,329	$ 2,094,326	$ 1,616,990
Income before income taxes	159,229	83,443	289,809	186,650
Provision for income taxes	(41,227)	(21,472)	(72,811)	(48,822)
Net income	118,002	61,971	216,998	137,828
Net income attributable to noncontrolling interests	0	(1,247)	59	(2,362)
Net income available to common stockholders	$ 118,002	$ 60,724	$ 217,057	$ 135,466
Earnings per share
Basic (in dollars per share)	$ 1.25	$ 0.61	$ 2.29	$ 1.35
Diluted (in dollars per share)	$ 1.25	$ 0.60	$ 2.28	$ 1.34
Weighted average shares outstanding
Basic (in shares)	94,059,037	99,598,933	94,645,676	100,305,168
Diluted (in shares)	94,740,019	100,634,964	95,305,469	101,184,993
Homebuilding Segment
Revenues	$ 1,137,950	$ 826,959	$ 2,064,158	$ 1,597,744
Other operations expense	765	782	1,530	1,447
Sales and marketing	56,804	43,241	107,028	85,103
General and administrative	67,747	54,224	119,075	100,590
Homebuilding income from operations	143,112	69,343	253,942	161,674
Equity in income of unconsolidated entities	99	42	156	269
Other income, net	9,934	11,093	25,160	18,697
Homebuilding income before income taxes	153,145	80,478	279,258	180,640
Income before income taxes	153,145	80,478	279,258	180,640
Financial services
Revenues	16,974	10,370	30,168	19,246
Expenses	10,890	7,405	19,617	13,236
Financial services income before income taxes	6,084	2,965	10,551	6,010
Income before income taxes	6,084	2,965	10,551	6,010
Home sales revenue | Homebuilding Segment
Revenues	1,133,008	819,077	2,051,361	1,587,482
Cost of home, land and lot sales	865,681	651,999	1,572,985	1,240,117
Land and lot sales revenue | Homebuilding Segment
Revenues	4,160	7,086	11,228	8,792
Cost of home, land and lot sales	3,841	7,370	9,598	8,813
Other operations revenue | Homebuilding Segment
Revenues	$ 782	$ 796	$ 1,569	$ 1,470

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Total Stockholders’ Equity	Common Stock	Additional Paid-in Capital	Retained Earnings	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2022			101,017,708
Beginning balance at Dec. 31, 2022	$ 2,836,531	$ 2,832,389	$ 1,010	$ 3,685	$ 2,827,694	$ 4,142
Increase (Decrease) in Stockholders' Equity
Net income	137,828	135,466			135,466	2,362
Shares issued under share-based awards (in shares)			788,803
Shares issued under share-based awards	518	518	$ 8	510
Tax withholding paid on behalf of employees for share-based awards	(9,796)	(9,796)		(9,796)
Stock-based compensation expense	8,023	8,023		8,023
Share repurchases (in shares)			(2,712,053)
Share repurchases	(70,489)	(70,489)	$ (27)	(70,462)
Distributions to noncontrolling interests, net	(5,795)					(5,795)
Reclass the negative APIC to retained earnings	0			68,040	(68,040)
Ending balance (in shares) at Jun. 30, 2023			99,094,458
Ending balance at Jun. 30, 2023	2,896,820	2,896,111	$ 991	0	2,895,120	709
Beginning balance (in shares) at Mar. 31, 2023			100,172,227
Beginning balance at Mar. 31, 2023	2,866,485	2,863,623	$ 1,002	0	2,862,621	2,862
Increase (Decrease) in Stockholders' Equity
Net income	61,971	60,724			60,724	1,247
Shares issued under share-based awards (in shares)			59,709
Shares issued under share-based awards	286	286	$ 1	285
Tax withholding paid on behalf of employees for share-based awards	(16)	(16)		(16)
Stock-based compensation expense	4,162	4,162		4,162
Share repurchases (in shares)			(1,137,478)
Share repurchases	(32,668)	(32,668)	$ (12)	(32,656)
Distributions to noncontrolling interests, net	(3,400)					(3,400)
Reclass the negative APIC to retained earnings	0			28,225	(28,225)
Ending balance (in shares) at Jun. 30, 2023			99,094,458
Ending balance at Jun. 30, 2023	$ 2,896,820	2,896,111	$ 991	0	2,895,120	709
Beginning balance (in shares) at Dec. 31, 2023	95,530,512		95,530,512
Beginning balance at Dec. 31, 2023	$ 3,013,638	3,010,958	$ 955	0	3,010,003	2,680
Increase (Decrease) in Stockholders' Equity
Net income	216,998	217,057			217,057	(59)
Shares issued under share-based awards (in shares)			820,553
Shares issued under share-based awards	1,041	1,041	$ 8	1,033
Tax withholding paid on behalf of employees for share-based awards	(16,604)	(16,604)		(16,604)
Stock-based compensation expense	15,619	15,619		15,619
Share repurchases, including excise tax (in shares)			(2,488,847)
Share repurchases, including excise tax	(87,319)	(87,319)	$ (24)	(87,295)
Distributions to noncontrolling interests, net	(2,609)					(2,609)
Acquisition of joint venture minority interest	(1,268)	(1,268)		(1,268)
Reclass the negative APIC to retained earnings	$ 0			88,515	(88,515)
Ending balance (in shares) at Jun. 30, 2024	93,862,218		93,862,218
Ending balance at Jun. 30, 2024	$ 3,139,496	3,139,484	$ 939	0	3,138,545	12
Beginning balance (in shares) at Mar. 31, 2024			94,877,377
Beginning balance at Mar. 31, 2024	3,049,658	3,049,646	$ 949	0	3,048,697	12
Increase (Decrease) in Stockholders' Equity
Net income	118,002	118,002			118,002	0
Shares issued under share-based awards (in shares)			30,903
Shares issued under share-based awards	0
Tax withholding paid on behalf of employees for share-based awards	(32)	(32)		(32)
Stock-based compensation expense	8,940	8,940		8,940
Share repurchases, including excise tax (in shares)			(1,046,062)
Share repurchases, including excise tax	(37,072)	(37,072)	$ (10)	(37,062)
Reclass the negative APIC to retained earnings	$ 0			28,154	(28,154)
Ending balance (in shares) at Jun. 30, 2024	93,862,218		93,862,218
Ending balance at Jun. 30, 2024	$ 3,139,496	$ 3,139,484	$ 939	$ 0	$ 3,138,545	$ 12

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 216,998	$ 137,828
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	15,024	13,182
Equity in income of unconsolidated entities, net	(156)	(269)
Amortization of stock-based compensation	15,619	8,023
Charges for impairments and lot option abandonments	1,370	12,478
Gain on increase in carrying amount of investment	(3,495)	0
Changes in assets and liabilities:
Real estate inventories	(127,199)	(29,452)
Mortgage loans held for sale	(32,936)	0
Receivables	112,999	52,315
Other assets	(5,688)	2,783
Accounts payable	(7,423)	16,062
Accrued expenses and other liabilities	(17,219)	(15,216)
Net cash provided by operating activities	167,894	197,734
Cash flows from investing activities:
Purchases of property and equipment	(12,547)	(12,445)
Proceeds from investment	717	0
Net investments in unconsolidated entities	(19,869)	(8,343)
Distributions from unconsolidated entities	16,289	0
Net cash used in investing activities	(15,410)	(20,788)
Cash flows from financing activities:
Borrowings from loans payable	420	0
Repayment of loans payable and senior notes	(454,828)	0
Borrowings on mortgage repurchase facilities	68,963	0
Repayments on mortgage repurchase facilities	(36,867)	0
Distributions to noncontrolling interests	(3,877)	(5,795)
Proceeds from issuance of common stock under share-based awards	1,041	518
Tax withholding paid on behalf of employees for share-based awards	(16,604)	(9,796)
Share repurchases, excluding excise tax	(86,745)	(69,970)
Net cash used in financing activities	(528,497)	(85,043)
Net (decrease) increase in cash and cash equivalents	(376,013)	91,903
Cash and cash equivalents–beginning of period	868,953	889,664
Cash and cash equivalents–end of period	$ 492,940	$ 981,567

Organization, Basis of Presenta

Organization, Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Organization, Basis of Presentation and Summary of Significant Accounting Policies	Organization, Basis of Presentation and Summary of Significant Accounting Policies Organization Tri Pointe is engaged in the design, construction and sale of innovative single-family attached and detached homes across ten states, including Arizona, California, Colorado, Maryland, Nevada, North Carolina, South Carolina, Texas, Virginia, and Washington, and the District of Columbia. In September 2023, we announced our expansion into the greater Salt Lake City region with the launch of a new division in Utah . In April 2024, we announced further expansion into Orlando, Florida, and the Coastal Carolinas area, which includes parts of Georgia and South Carolina. As of June 30, 2024, we had not yet commenced significant homebuilding operations in these new markets. Basis of Presentation The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They should be read in conjunction with our consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023. In the opinion of management, all adjustments consisting of normal recurring adjustments, necessary for a fair presentation with respect to interim financial statements, have been included. The results for the six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the full year ending December 31, 2024 due to seasonal variations and other factors. The consolidated financial statements include the accounts of Tri Pointe Homes and its wholly owned subsidiaries, as well as other entities in which Tri Pointe Homes has a controlling interest and variable interest entities (“VIEs”) in which Tri Pointe Homes is the primary beneficiary. The noncontrolling interests as of June 30, 2024 and December 31, 2023 represent the outside owners’ interests in the Company’s consolidated entities. All significant intercompany accounts have been eliminated upon consolidation. Unless the context otherwise requires, the terms “Tri Pointe”, “the Company”, “we”, “us”, and “our” used herein refer to Tri Pointe Homes, Inc., a Delaware corporation, and its consolidated subsidiaries. Use of Estimates The preparation of these financial statements requires our management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from our estimates. Cash and Cash Equivalents and Concentration of Credit Risk We define cash and cash equivalents as cash on hand, demand deposits with financial institutions, and short-term liquid investments with a maturity date of less than three months from the date of acquisition, including U.S. Treasury bills and government money-mark funds with maturities of 90 days or less when purchased. The Company’s cash balances exceed federally insurable limits. The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts. Revenue Recognition We recognize revenue in accordance with Accounting Standards Topic 606 (“ASC 606”), Revenue from Contracts with Customers . Under ASC 606, we apply the following steps to determine the timing and amount of revenue to recognize: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. Home sales revenue We generate the majority of our total revenues from home sales, which consists of our core business operation of building and delivering completed homes to homebuyers. Home sales revenue and related profit is generally recognized when title to and possession of the home are transferred to the homebuyer at the home closing date. Our performance obligation to deliver the agreed-upon home is generally satisfied in less than one year from the original contract date. Included in home sales revenue are forfeited deposits, which occur when homebuyers cancel home purchase contracts that include a nonrefundable deposit. Both revenue from forfeited deposits and deferred revenue resulting from uncompleted performance obligations existing at the time we deliver new homes to our homebuyers are immaterial. Financial services revenues Tri Pointe Solutions is a reportable segment and is comprised of our Tri Pointe Connect mortgage financing operations, Tri Pointe Assurance title and escrow services operations, and Tri Pointe Advantage property and casualty insurance agency operations. Mortgage financing operations For the year ended December 31, 2023, our Tri Pointe Connect mortgage operations were conducted through a joint venture with an established mortgage lender. Tri Pointe Connect acted as a preferred mortgage loan broker to our homebuyers in all of the markets in which we operate, generating income from fees paid by third party lenders for the successful funding and closing of loans for homebuyers that originated through Tri Pointe Connect. For the year ended December 31, 2023, Tri Pointe Connect was fully consolidated in accordance with Accounting Standards Topic 810 (“ASC 810”), Consolidation, under the Financial Services section of our consolidated statements of operations, with the noncontrolling interest recorded on the consolidated statements of operations as net income attributable to noncontrolling interests. Effective February 1, 2024, we acquired the minority equity interest in the joint venture, upon which Tri Pointe Connect became a wholly owned subsidiary of the Company. In connection with this transaction, Tri Pointe Connect expanded its operations to include mortgage lending services to our homebuyers in all of the markets in which we operate and provide mortgage financing by utilizing funds made available pursuant to repurchase agreements with third party lenders and by utilizing its own funds. We intend to sell all of the loans we originate in the secondary market within a short period of time after origination. Tri Pointe Connect will retain the ability to act as a mortgage loan broker for our homebuyers that originate loans with third party lenders. Revenues from mortgage financing operations primarily represent mortgage loan broker fees paid by third party lenders, fees earned on mortgage loan originations and the realized and unrealized gains and losses associated with the sales and changes in the fair value of mortgage loans held for sale. Revenue from mortgage loan broker fees, loan origination fees, commitment fees and discount points are recognized at the time the mortgage loans are funded. Title and escrow services operations Tri Pointe Assurance provides title examinations for our homebuyers in the Carolinas and Colorado and both title examinations and escrow services for our homebuyers in Arizona, the District of Columbia, Maryland, Nevada, Texas, Washington and Virginia. Tri Pointe Assurance is a wholly owned subsidiary of Tri Pointe and acts as a title agency for First American Title Insurance Company. Revenue from our title and escrow services operations is fully recognized at the time of the consummation of the home sales transaction, at which time no further performance obligations are left to be satisfied. Tri Pointe Assurance revenue is included in the Financial Services section of our consolidated statements of operations. Property and casualty insurance agency operations Tri Pointe Advantage is a wholly owned subsidiary of Tri Pointe and provides property and casualty insurance agency services that help facilitate the closing process in all of the markets in which we operate. The total consideration for these services, includ ing renewal options, is estimated upon the issuance of the initial insurance policy, subject to constraint. Tri Pointe Advantage revenue is included in the Financial Services section of our consolidated statements of operations. Recently Issued Accounting Standards Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which requires expanded disclosure of significant segment expenses and other segment items on an annual and interim basis. ASU 2023-07 is effective for us for annual periods beginning after January 1, 2024 and interim periods beginning after January 1, 2025. We are currently evaluating the impact ASU 2023-07 will have on our financial statement disclosures. In December 2023, FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information We op erate two principal businesses: homebuilding and financial services. In accordance with ASC Topic 280, Segment Reporting , in determining the most appropriate reportable segments within our homebuilding business, we have considered similar economic and other characteristics, including product types, average sales prices, gross profits, production processes, suppliers, subcontractors, regulatory environments, land acquisition results, and underlying demand and supply. Based upon these factors and in consideration of the geographical layout of our homebuilding markets, we have identified three homebuilding reporting segments and, as such, our homebuilding segments are reported under the following hierarchy: West region: Arizona, California, Nevada and Washington Central region: Colorado, Texas and Utah East region: District of Columbia, Florida, Maryland, North Carolina, South Carolina and Virginia In September 2023, we announced our expansion into the greater Salt Lake City region with the launch of a new division in Utah. In April 2024 we announced further expansion into Orlando, Florida, and the Coastal Carolinas area, which includes parts of Georgia and South Carolina. As of June 30, 2024, we had not yet commenced significant operations in these new markets, however we have controlled lots within Utah. Our Tri Pointe Solutions financial services operation is a reportable segment and is comprised of our Tri Pointe Connect mortgage financing operations, our Tri Pointe Assurance title and escrow services operations, and our Tri Pointe Advantage property and casualty insurance agency operations. For further details, see Note 1, Organization, Basis of Presentation and Summary of Significant Accounting Policies. Corporate is a non-operating segment that develops and implements company-wide strategic initiatives and provides support to our homebuilding reporting segments by centralizing certain administrative functions, such as marketing, legal, accounting, treasury, insurance, internal audit, risk management, information technology and human resources, to benefit from economies of scale. Our Corporate non-operating segment also includes general and administrative expenses related to operating our corporate headquarters. All of the expenses incurred by Corporate are allocated to each of the homebuilding reporting segments based on their respective percentage of revenues. The reportable segments follow the same accounting policies used for our consolidated financial statements, as described in Note 1, Organization, Basis of Presentation and Summary of Significant Accounting Policies . Operational results of each reportable segment are not necessarily indicative of the results that would have been achieved had the reportable segment been an independent, stand-alone entity during the periods presented. Total revenues and income before income taxes for each of our reportable segments were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues West $ 677,649 $ 525,796 $ 1,231,240 $ 1,006,737 Central 301,594 198,490 575,817 364,630 East 158,707 102,673 257,101 226,377 Total homebuilding revenues 1,137,950 826,959 2,064,158 1,597,744 Financial services 16,974 10,370 30,168 19,246 Total $ 1,154,924 $ 837,329 $ 2,094,326 $ 1,616,990 Income before income taxes West $ 90,523 $ 52,496 $ 163,382 $ 125,407 Central 44,025 17,903 87,318 31,842 East 18,597 10,079 28,558 23,391 Total homebuilding income before income taxes 153,145 80,478 279,258 180,640 Financial services 6,084 2,965 10,551 6,010 Total $ 159,229 $ 83,443 $ 289,809 $ 186,650 Total real estate inventories and total assets for each of our reportable segments, as of the date indicated, were as follows (in thousands): June 30, 2024 December 31, 2023 Real estate inventories West $ 2,245,659 $ 2,209,113 Central 777,098 762,051 East 443,054 366,319 Total $ 3,465,811 $ 3,337,483 Total assets (1) West $ 2,516,024 $ 2,557,608 Central 948,241 947,200 East 486,885 421,630 Corporate 558,891 941,824 Total homebuilding assets 4,510,041 4,868,262 Financial services 86,157 46,326 Total $ 4,596,198 $ 4,914,588 __________ (1 ) Total assets as of June 30, 2024 and December 31, 2023 includes $139.3 million of goodwill, with $125.4 million included in the West segment, $8.3 million included in the Central segment and $5.6 million included in the East segment. Total Corporate assets as of June 30, 2024 and December 31, 2023 includes our Tri Pointe Homes trade name. For further details on goodwill and our intangible assets, see Note 8, Goodwill and Other Intangible Assets

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the components used in the computation of basic and diluted earnings per share (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net income available to common stockholders $ 118,002 $ 60,724 $ 217,057 $ 135,466 Denominator: Basic weighted-average shares outstanding 94,059,037 99,598,933 94,645,676 100,305,168 Effect of dilutive shares: Stock options and unvested restricted stock units 680,982 1,036,031 659,793 879,825 Diluted weighted-average shares outstanding 94,740,019 100,634,964 95,305,469 101,184,993 Earnings per share Basic $ 1.25 $ 0.61 $ 2.29 $ 1.35 Diluted $ 1.25 $ 0.60 $ 2.28 $ 1.34 Antidilutive stock options and unvested restricted stock units not included in diluted earnings per share 1,305,166 2,580,904 1,579,593 2,737,110

Receivables

Receivables	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Receivables	Receivables Receivables consisted of the following (in thousands): June 30, 2024 December 31, 2023 Escrow proceeds and other accounts receivable, net $ 45,630 $ 158,622 Warranty insurance receivable (Note 13) 66,007 66,014 Total receivables $ 111,637 $ 224,636 Receivables are evaluated for collectability and allowances for potential losses are established or maintained on applicable receivables based on an expected credit loss approach. Receivables were net of allowances for doubtful accounts of $436,000 as of both June 30, 2024 and December 31, 2023.

Real Estate Inventories

Real Estate Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Real Estate Inventories	Real Estate Inventories Real estate inventories consisted of the following (in thousands): June 30, 2024 December 31, 2023 Real estate inventories owned: Homes completed or under construction $ 1,637,648 $ 1,402,762 Land under development 1,172,934 1,299,074 Land held for future development 155,293 153,615 Model homes 305,660 306,565 Total real estate inventories owned 3,271,535 3,162,016 Real estate inventories not owned: Land purchase and land option deposits 194,276 175,467 Total real estate inventories not owned 194,276 175,467 Total real estate inventories $ 3,465,811 $ 3,337,483 Homes completed or under construction is comprised of costs associated with homes in various stages of construction and includes direct construction and related land acquisition and land development costs. Land under development primarily consists of land acquisition and land development costs, which include capital ized interest and real estate taxes, associated with land undergoing improvement activity. Land held for future development principally reflects land acquisition and land development costs related to land where development activity has not yet begun or has been suspended, but is expected to occur in the future. Real estate inventories not owned represents deposits related to land purchase and land and lot option agreements. For further details, see Note 7, Variable Interest Entities . Interest incurred, capitalized and expensed were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Interest incurred $ 30,378 $ 37,394 $ 66,534 $ 74,873 Interest capitalized (30,378) (37,394) (66,534) (74,873) Interest expensed $ — $ — $ — $ — Capitalized interest in beginning inventory $ 226,957 $ 208,639 $ 221,647 $ 191,411 Interest capitalized as a cost of inventory 30,378 37,394 66,534 74,873 Interest previously capitalized as a cost of inventory, included in cost of sales (39,164) (25,681) (70,010) (45,932) Capitalized interest in ending inventory $ 218,171 $ 220,352 $ 218,171 $ 220,352 Interest is capitalized to real estate inventory during development and other qualifying activities. During all periods presented, we capitalized all interest incurred to real estate inventory in accordance with ASC Topic 835, Interest, as our qualified assets exceeded our debt. Interest that is capitalized to real estate inventory is included in cost of home sales or cost of land and lot sales as related units or lots are delivered. Interest that is expensed as incurred is included in other (expense) income, net. Real Estate Inventory Impairments and Land Option Abandonments Real estate inventory impairments and land and lot option abandonments and pre-acquisition charges consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Real estate inventory impairments $ — $ 11,500 $ — $ 11,500 Land and lot option abandonments and pre-acquisition charges 968 261 1,370 978 Total $ 968 $ 11,761 $ 1,370 $ 12,478 Impairments of real estate inventory relate primarily to projects or communities that include homes completed or under construction. During the three and six months ended June 30, 2023, we recorded a real estate inventory impairment charge of $11.5 million related to one active community in the West segment where the carrying value of the community exceeded the fair value based on a discounted cash flows analysis. The discount rate used to calculate fair value was 10%. We considered both market risk and community-specific risk to arrive at a discount rate appropriate for the level of total risk associated with this community. In addition to owning land and residential lots, we also have option agreements to purchase land and lots at a future date. We have option deposits and capitalized pre-acquisition costs associated with the optioned land and lots. When the economics of a project no longer support acquisition of the land or lots under option, we may elect not to move forward with the acquisition. Option deposits and capitalized pre-acquisition costs associated with the assets under option may be forfeited at that time. Real estate inventory impairments and land option abandonments are recorded in cost of home sales in the consolidated statements of operations.

Investments in Unconsolidated E

Investments in Unconsolidated Entities	6 Months Ended
	Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities As of June 30, 2024, we held equity investments in fourteen active homebuilding partnerships or limited liability companies. Our participation in these entities may be as a developer, a builder, or an investment partner. Our ownership percentage varies from 8% to 50%, depending on the investment, with no controlling interest held in any of these investments. Aggregated assets, liabilities and equity of the entities we account for as equity-method investments are as follo ws (in thousands): June 30, 2024 December 31, 2023 Assets Cash $ 35,303 $ 35,308 Receivables 95,482 38,839 Real estate inventories 414,568 450,097 Other assets 6,461 27,632 Total assets $ 551,814 $ 551,876 Liabilities and equity Debt obligations and other liabilities $ 157,959 $ 155,616 Company’s equity 133,591 131,824 Outside interests’ equity 260,264 264,436 Total liabilities and equity $ 551,814 $ 551,876 Guarantees The unconsolidated entities in which we hold an equity investment generally finance their activities with a combination of equity and secured project debt financing. We have, and in some cases our joint venture partner has, guaranteed portions of the loan obligations for some of the homebuilding partnerships or limited liability companies, which may include any or all of the following: (i) project completion; (ii) remargin obligations; and (iii) environmental indemnities. In circumstances in which we have entered into joint and several guarantees with our joint venture partner, we generally seek to implement a reimbursement agreement with our partner that provides that neither party is responsible for more than its proportionate share or agreed-upon share of the guaranteed obligations. In the event our joint venture partner does not have adequate financial resources to meet its obligations under such a reimbursement agreement, or otherwise fails to satisfy its obligations thereunder, we may be responsible for more than our proportionate share of any obligations under such guarantees. As of June 30, 2024 and December 31, 2023, we have not recorded any liabilities for these obligations and guarantees, as the fair value of the related joint venture real estate assets exceeded the threshold where a remargin payment would be required and no other obligations under the guarantees existed as of such time. At June 30, 2024 and December 31, 2023, aggregate outstanding debt for unconsolidated entities, included in the “Debt obligations and other liabilities” line of the aggregated assets, liabilities and equity shown in the table above, was $130.3 million and $125.9 million, respectively. Aggregated results of operations from unconsolidated entities (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales $ 34,016 $ 37,757 $ 63,914 $ 59,895 Other operating expense (31,294) (37,286) (61,351) (58,939) Other income (expense), net 831 (3) 825 (6) Net income $ 3,553 $ 468 $ 3,388 $ 950 Company’s equity in income of unconsolidated entities $ 99 $ 42 $ 156 $ 269

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities Land and Lot Option Agreements In the ordinary course of business, we enter into land and lot option agreements in order to procure land and residential lots for future development and the construction of homes. The use of such land and lot option agreements generally allows us to reduce the risks associated with direct land ownership and development, and reduces our capital and financial commitments. Pursuant to these land and lot option agreements, we generally provide a deposit to the seller as consideration for the right to purchase land at different times in the future, usually at predetermined prices. These deposits are recorded as land purchase and land option deposits under real estate inventories not owned on the accompanying consolidated balance sheets. We analyze each of our land and lot option agreements and other similar contracts under the provisions of Accounting Standards Topic 810 (“ASC 810”), Consolidation to determine whether the land seller is a VIE and, if so, whether we are the primary beneficiary. Although we do not have legal title to the underlying land, if we are determined to be the primary beneficiary of the VIE, we will consolidate the VIE in our financial statements and reflect its assets as real estate inventory not owned included in our real estate inventories, its liabilities as debt (nonrecourse) held by VIEs in accrued expenses and other liabilities and the net equity of the VIE owners as noncontrolling interests on our consolidated balance sheets. In determining whether we are the primary beneficiary, we consider, among other things, whether we have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. Such activities would include, among other things, determining or limiting the scope or purpose of the VIE, selling or transferring property owned or controlled by the VIE, or arranging financing for the VIE. Creditors of the entities with which we have land and lot option agreements have no recourse against us. The maximum exposure to loss under our land and lot option agreements is generally limited to non-refundable option deposits and any capitalized pre-acquisition costs. In some cases, we have also contracted to complete development work at a fixed cost on behalf of the landowner and budget shortfalls and savings will be borne by us. Additionally, we have entered into land banking arrangements which require us to complete development work even if we terminate the option to procure land or lots. The following provides a summary of our interests in land and lot option agreements (in thousands): June 30, 2024 December 31, 2023 Deposits Remaining Consolidated Deposits Remaining Consolidated Unconsolidated VIEs $ 180,182 $ 1,486,614 N/A $ 159,164 $ 1,017,791 N/A Other land option agreements 14,094 205,988 N/A 16,303 189,007 N/A Total $ 194,276 $ 1,692,602 $ — $ 175,467 $ 1,206,798 $ — Unconsolidated VIEs represent land option agreements that were not consolidated because we were not the primary beneficiary. Other land option agreements were not with VIEs. In addition to the deposits presented in the table above, our exposure to loss related to our land and lot option contracts consisted of capitalized pre-acquisition costs of $17.3 million and $9.5 million as of June 30, 2024 and December 31, 2023, respectively. These pre-acquisition costs are included in real estate inventories as land under development on our consolidated balance sheets.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets As of June 30, 2024 and December 31, 2023, $139.3 million of goodwill is included in goodwill and other intangible assets, net on each of the consolidated balance sheets, which was recorded in connection with our merger with Weyerhaeuser Real Estate Company (“WRECO”) in 2014. In addition, as of June 30, 2024 and December 31, 2023, we have one intangible asset with a carrying amount of $17.3 million comprised of a Tri Pointe Homes trade name, which has an indefinite useful life and is non-amortizing, resulting from the acquisition of WRECO in 2014.

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consisted of the following (in thousands): June 30, 2024 December 31, 2023 Prepaid expenses $ 8,999 $ 8,462 Refundable fees and other deposits 8,285 8,726 Development rights, held for future use or sale 1,192 1,192 Deferred loan costs—loans payable 4,356 5,089 Operating properties and equipment, net 63,417 66,284 Lease right-of-use assets 65,054 66,404 Income tax receivable 9,645 — Other 3,736 936 Total $ 164,684 $ 157,093

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following (in thousands): June 30, 2024 December 31, 2023 Accrued payroll and related costs $ 40,420 $ 68,575 Warranty reserves (Note 13) 107,196 106,993 Estimated cost for completion of real estate inventories 134,463 108,175 Customer deposits 58,411 43,991 Accrued income taxes payable — 23,138 Accrued interest 5,908 8,470 Other tax liability 3,126 2,976 Lease liabilities 79,216 78,782 Other 8,497 12,431 Total $ 437,237 $ 453,531

Senior Notes, Loans Payable and

Senior Notes, Loans Payable and Mortgage Repurchase Facilities	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Senior Notes, Loans Payable and Mortgage Repurchase Facilities	Senior Notes, Loans Payable and Mortgage Repurchase Facilities Senior Notes The Company’s outstanding senior notes (together, the “Senior Notes”) consisted of the following (in thousands): June 30, 2024 December 31, 2023 5.875% Senior Notes due June 15, 2024 $ — $ 450,000 5.250% Senior Notes due June 1, 2027 300,000 300,000 5.700% Senior Notes due June 15, 2028 350,000 350,000 Discount and deferred loan costs (3,970) (5,751) Total $ 646,030 $ 1,094,249 In June 2020, Tri Pointe issued $350 million aggregate principal amount of 5.700% Senior Notes due 2028 (the “2028 Notes”) a t 100.00% of their aggregate principal amount. Net proceeds of this issuance were $345.2 million, after debt issuance costs and discounts. The 2028 Notes mature on June 15, 2028 and interest is paid semiannually in arrears on June 15 and December 15 of each year until maturity. In June 2017, Tri Pointe issued $300 million aggregate principal amount of 5.250% Senior Notes due 2027 (the “2027 Notes”) at 100.00% of their aggregate principal amount. Net proceeds of this issuance were $296.3 million, after debt issuance costs a nd discounts. The 2027 Notes mature on June 1, 2027 and interest is paid semiannually in arrears on June 1 and December 1 of each year until maturity. Tri Pointe and its wholly owned subsidiary, Tri Pointe Homes Holdings, Inc., were co-issuers of the $450 million aggregate principal amount 5.875% Senior Notes due 2024 (the “2024 Notes”). The 2024 Notes were issued at 98.15% of their aggregate principal amount in June of 2014. The net proceeds from the offering of the 2024 Notes was $429.0 million, after debt issuance costs and discounts. The 2024 Notes were scheduled to mature on June 15, 2024; however, on May 15, 2024, we redeemed the entire outstanding principal amount of the 2024 Notes at a redemption price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon to the redemption date. As of June 30, 2024 and December 31, 2023, there were $4.0 million and $5.2 million of capitalized debt financing costs, included in senior notes, net on our consolidated balance sheet, related to the Senior Notes that will amortize over the lives of the Senior Notes. Accrued interest related to the Senior Notes was $2.1 million and $3.2 million as of June 30, 2024 and December 31, 2023, respectively. Loans Payable The Company’s outstanding loans payable consisted of the following (in thousands): June 30, 2024 December 31, 2023 Term loan facility $ 250,000 $ 250,000 Seller financed loans 33,929 38,337 Total $ 283,929 $ 288,337 On December 15, 2023, we entered into a Fourth Modification Agreement (the “Fourth Modification”) to our Second Amended and Restated Credit Agreement dated as of March 29, 2019 (the “Credit Agreement”). The Fourth Modification, among other things, amends the Credit Agreement to exclude (i) certain indebtedness of the Company’s financial services subsidiaries for purposes of calculating the Company’s “Leverage Ratio” (as defined in the Credit Agreement), and (ii) the Company’s financial services subsidiaries from the determination of “Consolidated EBITDA” (as defined in the Credit Agreement), as well as any interest obligations of the Company’s financial services subsidiaries, for purposes of calculating the Company’s “Interest Coverage Ratio” (as defined in the Credit Agreement). The Credit Facility (as defined below), consists of a $750 million revolving credit facility (the “Revolving Facility”) and a $250 million term loan facility (the “Term Facility” and together with the Revolving Facility, the “Credit Facility”). Both the Revolving Facility and the Term Facility mature on June 29, 2027. We may increase the Credit Facility to not more than $1.2 billion in the aggregate, at our request, upon satisfaction of specified conditions. We may borrow under the Revolving Facility in the ordinary course of business to repay senior notes and fund our operations, including our land acquisition, land development and homebuilding activities. Borrowings under the Revolving Facility will be governed by, among other things, a borrowing base. Interest rates under the Revolving Facility will be based on the Secured Overnight Financing Rate (“SOFR”), plus a spread ranging from 1.25% to 1.90%, depending on the Company’s leverage ratio. Interest rates under the Term Facility will be based on SOFR, plus a spread ranging from 1.10% to 1.85%, depending on the Company’s leverage ratio. As of June 30, 2024, we had no outstanding debt under the Revolving Facility and there was $707.3 million of availability after considering the borrowing base provisions and outstanding letters of credit. As of June 30, 2024, we had $250 million of outstanding debt under the Term Facility with an interest rate of 6.51%. As of June 30, 2024, there were $4.4 million of capitalized debt financing costs, included in other assets on our consolidated balance sheet, related to the Credit Facility that will amortize over the remaining term of the Credit Facility. Accrued interest, including loan commitment fees, related to the Credit Facility was $1.6 million as of both June 30, 2024 and December 31, 2023, respectively. At June 30, 2024 and December 31, 2023, we had outstanding letters of credit of $42.7 million and $52.3 million, respectively. These letters of credit were issued to secure various financial obligations. We believe it is not probable that any outstanding letters of credit will be drawn upon. As of June 30, 2024 and December 31, 2023, we had $33.9 million and $38.3 million, respectively, outstanding related to two seller-financed loans. All seller-financed loans are to acquire lots for the construction of homes. Principal on these loans are expected to be fully paid by the end of fiscal year 2025, provided certain achievements are met. One of the seller-financed loans, representing $32.6 million of the total balance as of June 30, 2024 and $37.4 million of the balance as of December 31, 2023, accrues interest at an imputed interest rate of 4.50% per annum. The second seller-financed loan represented $1.3 million of the total balance as of June 30, 2024 and $910,000 as of December 31, 2023, respectively. Mortgage Repurchase Facilities Between March 2024 and May 2024, Tri Pointe Connect entered into three Master Repurchase Agreements totaling $280 million (“Repurchase Agreements”). The Repurchase Agreements contain various affirmative and negative covenants applicable to Tri Pointe Connect, including thresholds related to net worth, net income, liquidity, and profitability. As of June 30, 2024, Tri Pointe Connect had $32.1 million of outstanding debt related to the Repurchase Agreements at a weighted-average interest rate of 6.6% , and $247.9 million of remaining capacity under the Repurchase Agreements. Tri Pointe Connect was in compliance with all covenants and requirements as of June 30, 2024. The following table provides a summary of our Repurchase Agreements as of June 30, 2024 ($ in thousands): Facility Outstanding Balance Facility Amount Interest Rate Expiration Date Collateral (1) Warehouse A $ 29,476 $ 80,000 Term SOFR + 1.75% 3/11/2025 Mortgage Loans Warehouse B 2,186 100,000 Term SOFR + 1.75% 5/28/2025 Mortgage Loans Warehouse C (2) 435 50,000 Term SOFR + 1.75% 5/30/2025 Mortgage Loans Warehouse C (2) — 50,000 Term SOFR + 1.75% On Demand Mortgage Loans Total $ 32,097 $ 280,000 __________ (1 ) Mortgage loans held for sale consist of single-family residential loans collateralized by the underlying property. Generally, all of the loans originated by us are sold in the secondary mortgage market within 30 days after origination. As of June 30, 2024, residential mortgage loans available-for-sale had an aggregate fair value of $32.9 million. (2) Warehouse C is a $100 million facility, of which $50 million is committed and $50 million is uncommitted. Interest Incurred During the three months ended June 30, 2024 and 2023, the Company incurred interest of $30.4 million and $37.4 million, respectively, related to all debt and land banking arrangements. Included in interest incurred are amortization of deferred financing and Senior Note discount costs of $1.3 million and $1.3 million for the three months ended June 30, 2024 and 2023, respectively. During the six months ended June 30, 2024 and 2023, the Company incurred interest of $66.5 million and $74.9 million, respectively, related to all debt and land banking arrangements and amortization of deferred financing and Senior Note discount costs of $2.5 million for both the six months ended June 30, 2024 and 2023, respectively. Accrued interest related to all outstanding debt at June 30, 2024 and December 31, 2023 was $5.9 million and $8.5 million, respectively. Covenant Requirements The Senior Notes contain covenants that restrict our ability to, among other things, create liens or other encumbrances, enter into sale and leaseback transactions, or merge or sell all or substantially all of our assets. These limitations are subject to a number of qualifications and exceptions. Under the Credit Facility, the Company is required to comply with certain financial covenants, including those relating to consolidated tangible net worth, leverage, liquidity or interest coverage, and a spec unit inventory test. The Credit Facility also requires that at least 95.0% of consolidated tangible net worth must be attributable to the Company and its guarantor subsidiaries, subject to certain grace periods. The Company was in compliance with all applicable financial covenants as of June 30, 2024 and December 31, 2023.

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures Fair Value Measurements ASC Topic 820, Fair Value Measurements and Disclosures , defines “fair value” as the price that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at measurement date and requires assets and liabilities carried at fair value to be classified and disclosed in the following three categories: • Level 1—Quoted prices for identical instruments in active markets • Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are inactive; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets at measurement date • Level 3—Valuations derived from techniques where one or more significant inputs or significant value drivers are unobservable in active markets at measurement date Fair Value of Financial Instruments A summary of assets and liabilities at June 30, 2024 and December 31, 2023, related to our financial instruments, measured at fair value on a recurring basis, is set forth below (in thousands): June 30, 2024 December 31, 2023 Hierarchy Book Value Fair Value Book Value Fair Value Senior Notes (1) Level 2 $ 650,000 $ 633,545 $ 1,099,489 $ 1,066,835 Term loan (2) Level 2 $ 250,000 $ 250,000 $ 250,000 $ 250,000 Seller financed loans (3) Level 2 $ 33,929 $ 33,929 $ 38,337 $ 38,337 Mortgage loans held for sale (4) Level 2 $ 32,936 $ 32,936 $ — $ — Mortgage repurchase facilities (5) Level 2 $ 32,096 $ 32,096 $ — $ — __________ (1) The book value of the Senior Notes is net of discounts for December 31, 2023 , excluding deferred loan costs of $5.2 million. The estimated fair value of the Senior Notes at June 30, 2024 and December 31, 2023 is based on quoted market prices. (2) The estimate d fair value of the Term Loan Facility as of June 30, 2024 and December 31, 2023 approximated book value due to the variable interest rate terms of this loan. (3) The estimated fair value of our seller financed loans as of June 30, 2024 and December 31, 2023 approximated book value due to the short term nature of these loans. (4) The estimated fair value for mortgage loans held for sale are determined based on quoted market prices, and are measured at fair value on a recurring basis, with changes in fair value recognized in our consolidated statements of operations . (5) The estimated fair value of our mortgage repurchase facilities approximated book value due to the short term nature of these maturities. At June 30, 2024 and December 31, 2023, the carrying value of cash and cash equivalents and receivables approximated fair value due to their short-term nature. Fair Value of Nonfinancial Assets Nonfinancial assets include items such as real estate inventories and long-lived assets that are measured at fair value on a nonrecurring basis when events and circumstances indicating the carrying value is not recoverable. The following table presents impairment charges and the remaining net fair value for nonfinancial assets that were measured during the periods presented (in thousands): Six Months Ended June 30, 2024 Year Ended December 31, 2023 Hierarchy Impairment Fair Value Impairment Fair Value Real estate inventories (1) Level 3 $ — $ — $ 11,500 $ 39,970 __________ (1) Fair value of real estate inventories, net of impairment charges represents only those assets whose carrying values were adjusted to fair value in the respe ctive periods presented. Fair Value Net of Impairment represents the fair value of the real estate inventories, net of the impairment charge, as of the date that the fair value measurements were made. The carrying value for these real estate inventories subsequently changed from the fair value reflected due to activity that occurred since the measurement date. The impairment charge recorded during the year ended December 31, 2023 related to one community in the West reporting segment where the carrying value exceeded the fair value based on a discounted cash flow analysis. For further details, see Note 5, Real Estate Inventories .

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters Lawsuits, claims and proceedings have been and may be instituted or asserted against us in the normal course of business, including actions brought on behalf of various classes of claimants. We are also subject to local, state and federal laws and regulations related to land development activities, house construction standards, sales practices, employment practices, environmental protection and financial services. As a result, we are subject to periodic examinations or inquiry by agencies administering these laws and regulations. We record a reserve for potential legal claims and regulatory matters when they are probable of occurring and a potential loss is reasonably estimable. We accrue for these matters base d on facts and circumstances specific to each matter and revise these estimates when necessary. In view of the inherent difficulty of predicting outcomes of legal claims and related contingencies, we generally cannot predict their ultimate resolution, related timing or eventual loss. Accordingly, it is possible that the ultimate outcome of any matter, if in excess of a related accrual or if no accrual was made, could be material to our financial statements. For matters as to which the Company believes a loss is probable and reasonably estimable, we had zero legal reserves as of June 30, 2024 and December 31, 2023, respectively. Warranty Warranty reserves are accrued as home deliveries occur. Our warranty reserves on homes delivered will vary based on product type and geographic area and also depending on state and local laws. The warranty reserve is included in accrued expenses and other liabilities on our consolidated balance sheets and represents expected future costs based on our historical experience over previous years. Estimated warranty costs are charged to cost of home sales in the period in which the related home sales revenue is recognized. We maintain general liability insurance designed to protect us against a portion of our risk of loss from warranty and construction defect-related claims. We also generally require our subcontractors and design professionals to indemnify us for liabilities arising from their work, subject to various limitations. However, such indemnity is significantly limited with respect to certain subcontractors that are added to our general liability insurance policy. Our warranty reserve and related estimated insurance recoveries are based on actuarial analysis that uses our historical claim and expense data, as well as industry data to estimate these overall costs and related recoveries. Key assumptions used in developing these estimates include claim frequencies, severities and resolution patterns, which can occur over an extended period of time. Our warranty reserve may also include an estimate of future fit and finish warranty claims to the extent not contemplated in the actuarial analysis. These estimates are subject to variability due to the length of time between the delivery of a home to a homebuyer and when a warranty or construction defect claim is made, and the ultimate resolution of such claim; uncertainties regarding such claims relative to our markets and the types of product we build; and legal or regulatory actions and/or interpretations, among other factors. Due to the degree of judgment involved and the potential for variability in these underlying assumptions, our actual future costs could differ from those estimated. There can be no assurance that the terms and limitations of the limited warranty will be effective against claims made by homebuyers, that we will be able to renew our insurance coverage or renew it at reasonable rates, that we will not be liable for damages, cost of repairs, and/or the expense of litigation surrounding possible construction defects, soil subsidence or building related claims or that claims will not arise out of uninsurable events or circumstances not covered by insurance and not subject to effective indemnification agreements with certain subcontractors. We also record expected recoveries from insurance carriers based on actual insurance claims made and actuarially determined amounts that depend on various factors, including the above-described reserve estimates, our insurance policy coverage limits for the applicable poli cy years and historical recovery rates. Because of the inherent uncertainty and variability in these assumptions, our actual insurance recoveries could differ significantly from amounts currently estimated. Outstanding warranty insurance receivables was $66.0 million as of both June 30, 2024 and December 31, 2023. Warranty insurance receivables are recorded in receivables on the accompanying consolidated balance sheets. Warranty reserve activity consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Warranty reserves, beginning of period $ 106,602 $ 101,527 $ 106,993 $ 104,375 Warranty reserves accrued 9,834 6,284 17,734 12,186 Warranty expenditures (9,240) (8,568) (17,531) (17,318) Warranty reserves, end of period $ 107,196 $ 99,243 $ 107,196 $ 99,243 Per formance Bonds We obtain surety bonds in the normal course of business to ensure completion of certain infrastructure improvements of our projects. The beneficiaries of the bonds are various municipalities. As of June 30, 2024 and December 31, 2023, the Company had outstanding surety bonds totaling $677.1 million and $697.2 million, respectively. As of June 30, 2024 and December 31, 2023, our estimated cost to complete obligations related to these surety bonds was $437.1 million and $435.9 million, respectively. Lease Obligations Under ASC 842 we recognize a right-of-use lease asset and a lease liability for contracts deemed to contain a lease at the inception of the contract. Our lease population is fully comprised of operating leases, which are now recorded at the net present value of future lease obligations existing at each balance sheet date. At the inception of a lease, or if a lease is subsequently modified, we determine whether the lease is an operating or financing lease. Key estimates involved with ASC 842 include the discount rate used to measure our future lease obligations and the lease term, where considerations include renewal options and intent to renew. Lease right-of-use assets are included in other assets and lease liabilities are included in accrued expenses and other liabilities on our consolidated balance sheet. Operating Leases We lease certain property and equipment under non-cancelable operating leases. Office leases are for terms of up to ten years and generally provide renewal options. In most cases, we expect that, in the normal course of business, leases that expire will be renewed or replaced by other leases. Equipment leases are typically for terms of three Ground Leases In 1987, we obtained two 55-year ground leases of commercial property that provided for three renewal options of ten years each and one 45-year renewal option. We exercised the three 10-year extensions on one of these ground leases to extend the lease through 2071. The commercial buildings on these properties have been sold and the ground leases have been sublet to the buyers. For one of these leases, we are responsible for making lease payments to the landowner, and we collect sublease payments from the buyers of the buildings. This ground lease has been subleased through 2041 to the buyers of the commercial buildings. For the second lease, the buyers of the buildings are responsible for making lease payments directly to the landowner, however, we have guaranteed the performance of the buyers/lessees. See below for additional information on leases (dollars in thousands): Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Lease Cost Operating lease cost (included in SG&A expense) $ 3,050 $ 2,408 $ 5,904 $ 5,253 Ground lease cost (included in other operations expense) 765 783 1,530 1,446 Sublease income, operating leases — — — — Sublease income, ground leases (included in other operations revenue) (777) (795) (1,553) (1,468) Net lease cost $ 3,038 $ 2,396 $ 5,881 $ 5,231 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating lease cash flows (included in operating cash flows) $ 3,410 $ 2,443 $ 5,912 $ 4,872 Ground lease cash flows (included in operating cash flows) $ 664 $ 664 $ 1,327 $ 1,327 Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,374 $ 89 $ 5,264 $ 2,016 June 30, 2024 December 31, 2023 Weighted-average discount rate: Operating leases 4.9 % 4.9 % Ground leases 10.2 % 10.2 % Weighted-average remaining lease term (in years): Operating leases 5.9 6.3 Ground leases 43.9 44.4 The future minimum lease payments under our operating leases are as follows (in thousands): Property, Equipment and Other Leases Ground Leases (1) Remaining in 2024 $ 5,697 $ 1,619 2025 11,104 3,237 2026 10,096 3,237 2027 8,834 3,237 2028 8,477 3,237 Thereafter 15,676 75,403 Total lease payments $ 59,884 $ 89,970 Less: Interest 8,509 62,130 Present value of operating lease liabilities $ 51,375 $ 27,840 __________ (1) Ground leases are fully subleased through 2041, representing $56.1 million of the $90.0 million future ground lease obligations.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation 2022 Long-Term Incentive Plan On April 20, 2022, our stockholders approved the Tri Pointe Homes, Inc. 2022 Long-Term Incentive Plan (the “2022 Plan”), which had been previously approved by our board of directors. The 2022 Plan replaced the Company’s prior stock compensation plan, the TRI Pointe Group, Inc. Amended and Restated 2013 Long-Term Incentive Plan (the “2013 Plan”). The 2022 Plan provides for the grant of equity-based awards, including options to purchase shares of common stock, stock appreciation rights, restricted stock, restricted stock units, bonus stock and performance awards. The 2022 Plan will automatically expire on the tenth anniversary of its effective date. Our board of directors may terminate or amend the 2022 Plan at any time, subject to any requirement of stockholder approval required by applicable law, rule or regulation. The number of shares of our common stock that may be issued under the 2022 Plan is 7,500,000 shares. No new awards have been or will be granted under the 2013 Plan from and after February 23, 2022. Any awards outstanding under the 2013 Plan will remain subject to and be paid under the 2013 Plan, and any shares subject to outstanding awards under the 2013 Plan that subsequently expire, terminate, or are surrendered or forfeited for any reason without issuance of shares will automatically become available for issuance under the 2022 Plan. To the extent that shares of our common stock subject to an outstanding option, stock appreciation right, stock award or performance award granted under the 2022 Plan are not issued or delivered by reason of the expiration, termination, cancellation or forfeiture of such award or the settlement of such award in cash, then such shares of our common stock generally will again be available under the 2022 Plan. However, the 2022 Plan prohibits us from re-using shares that are tendered or surrendered to pay the exercise cost or tax obligation for stock options and stock appreciation rights. As of June 30, 2024, there were 5,324,026 shares available for future grant under the 2022 Plan. The following table presents compensation expense recognized related to all stock-based awards (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Total stock-based compensation $ 8,940 $ 4,162 $ 15,619 $ 8,023 Stock-based compensation is charged to general and administrative expense on the accompanying consolidated statements of operations. As of June 30, 2024, total unrecognized stock-based compensation expense related to all stock-based awards was $56.9 million and the weighted average term over which the expense was expected to be recognized was 1.6 years. Summary of Stock Option Activity The following table presents a summary of stock option awards for the six months ended June 30, 2024: Options Weighted Weighted Aggregate Options outstanding at December 31, 2023 66,043 $ 15.76 0.2 $ 1,297 Granted — — — — Exercised (66,043) $ 15.76 — — Forfeited — $ — — — Options outstanding at June 30, 2024 — $ — $ — $ — Options exercisable at June 30, 2024 — $ — $ — $ — The intrinsic value of each stock option award outstanding or exercisable is the difference between the fair market value of the Company’s common stock at the end of the period and the exercise price of each stock option award to the extent it is considered “in-the-money”. A stock option award is considered to be “in-the-money” if the fair market value of the Company’s stock is greater than the exercise price of the stock option award. The aggregate intrinsic value of options outstanding and options exercisable represents the value that would have been received by the holders of stock option awards had they exercised their stock option award on the last trading day of the period and sold the underlying shares at the closing price on that day. Summary of Restricted Stock Unit Activity The following table presents a summary of time-based and performance-based RSUs for the six months ended June 30, 2024: Restricted Weighted Nonvested RSUs at December 31, 2023 3,889,380 $ 22.71 Granted 1,125,140 $ 35.56 Vested (1,219,664) $ 19.87 Forfeited (236,952) $ 19.53 Nonvested RSUs at June 30, 2024 3,557,904 $ 27.73 On February 21, 2024, the Company granted an aggregate of 430,887 time-based RSUs to certain employees and officers. The RSUs granted vest in equal installments annually on the anniversary of the grant date over a three-year period. The fair value of each RSU granted on February 21, 2024 was measured using a price of $35.51 per share, which was the closing stock price on the date of grant. Each award will be expensed on a straight-line basis over the vesting period. On February 21, 2024, the Company granted an aggregate of 656,844 performance-based RSUs to the Company’s Chief Executive Officer, Chief Operating Officer and President, Chief Financial Officer, General Counsel, Chief Marketing Officer, Chief Human Resources Officer and division presidents. These performance-based RSUs are allocated to two separate performance metrics, as follows: (i) 50% to homebuilding revenue of the applicable Company division, and (ii) 50% to pre-tax earnings of the applicable Company division. The vesting, if at all, of these performance-based RSUs may range from 0% to 100% and will be based on the applicable Company division’s percentage attainment of specified threshold, target and maximum performance goals. The performance period for these performance-based RSUs is January 1, 2024 to December 31, 2026. The fair value of these performance-based RSUs was measured using a price of $35.51 per share, which was the closing stock price on the date of grant. Each award will be expensed over the requisite service period. On April 29, 2024, the Company granted an aggregate of 21,835 time-based RSUs to the non-employee members of its board of directors. The RSUs granted to the non-employee directors vest in their entirety on the day immediately prior to the Company’s 2025 annual meeting of stockholders. The fair value of each RSU granted on April 24, 2024 was measured using a price of $37.78 per share, which was the closing stock price on the date of grant. Each award will be expensed on a straight-line basis over the vesting period. For the six months ended June 30, 2024, the Company granted an aggregate of 15,574 time-based RSUs to certain employees not described above. The RSUs granted vest in equal installments annually beginning on anniversary of the grant date over a three-year period. The fair value of the RSUs granted were measured using the closing stock prices on the applicable date of each grant. Each award will be expensed on a straight-line basis over the vesting period. On February 22, 2023, the Company granted an aggregate of 504,551 time-based RSUs to certain employees and officers. The RSUs granted vest in equal installments annually on the anniversary of the grant date over a three-year period. The fair value of each RSU granted on February 22, 2023 was measured using a price of $23.21 per share, which was the closing stock price on the date of grant. Each award will be expensed on a straight-line basis over the vesting period. On February 22, 2023, the Company granted an aggregate of 704,408 performance-based RSUs to the Company’s Chief Executive Officer, Chief Operating Officer and President, Chief Financial Officer, General Counsel, Chief Marketing Officer, Chief Human Resources Officer and division presidents. These performance-based RSUs are allocated to two separate performance metrics, as follows: (i) 50% to homebuilding revenue of the applicable Company division, and (ii) 50% to pre-tax earnings of the applicable Company division. The vesting, if at all, of these performance-based RSUs may range from 0% to 100% and will be based on the applicable Company division’s percentage attainment of specified threshold, target and maximum performance goals. The performance period for these performance-based RSUs is January 1, 2023 to December 31, 2025. The fair value of these performance-based RSUs was measured using a price of $23.21 per share, which was the closing stock price on the date of grant. Each award will be expensed over the requisite service period. On May 1, 2023, the Company granted an aggregate of 29,150 time-based RSUs to the non-employee members of its board of directors. The RSUs granted to the non-employee directors vest in their entirety on the day immediately prior to the Company’s 2024 annual meeting of stockholders. The fair value of each RSU granted on May 1, 2023 was measured using a price of $28.30 per share, which was the closing stock price on the date of grant. Each award will be expensed on a straight-line basis over the vesting period. On December 26, 2023, the Company granted an aggregate of 364,215 time-based RSUs to the Company’s Chief Executive Officer, Chief Operating Officer and President, Chief Financial Officer, General Counsel, Chief Marketing Officer, and Chief Human Resources Officer. The RSUs granted vest in equal installments annually on the anniversary of the grant date over a three-year period. The fair value of each RSU granted on December 26, 2023 was measured using a price of $35.83 per share, which was the closing stock price on the date of grant. Each award will be expensed on a straight-line basis over the vesting period. For the twelve months ended December 31, 2023, the Company granted an aggregate of 6,787 time-based RSUs to certain employees not described above. The RSUs granted vest in equal installments annually beginning on anniversary of the grant date over a three-year period. The fair value of the RSUs granted were measured using the closing stock prices on the applicable date of each grant. Each award will be expensed on a straight-line basis over the vesting period. As RSUs vest for employees, a portion of the shares awarded is generally withheld to cover employee tax withholdings. As a result, the number of RSUs vested and the number of shares of Tri Pointe common stock issued will differ.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We account for income taxes in accordance with ASC Topic 740, Income Taxes (“ASC 740”), which requires an asset and liability approach for measuring deferred taxes based on temporary differences between the financial statements and tax bases of assets and liabilities using enacted tax rates for the years in which taxes are expected to be paid or recovered. Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than not unrealizable under ASC 740. We are required to establish a valuation allowance for any portion of the asset we conclude is more likely than not to be unrealizable. Our assessment considers, among other things, the nature, frequency and severity of our current and cumulative losses, forecasts of our future taxable income, the duration of statutory carryforward periods and tax planning alternatives. We had net deferred tax assets of $38.0 million as of both June 30, 2024 and December 31, 2023. We had a valuation allowance related to those net deferred tax assets of $3.4 million as of both June 30, 2024 and December 31, 2023. The Company will continue to evaluate both positive and negative evidence in determining the need for a valuation allowance against its deferred tax assets. Changes in positive and negative evidence, including differences between the Company’s future operating results and the estimates utilized in the determination of the valuation allowance, could result in changes in the Company’s estimate of the valuation allowance against its deferred tax assets. The accounting for deferred taxes is based upon estimates of future results. Differences between the anticipated and actual outcomes of these future results could have a material impact on the Company’s consolidated results of operations or financial position. Also, changes in existing federal and state tax laws and tax rates could affect future tax results and the valuation allowance against the Company’s deferred tax assets. Our provision for income taxes totaled $41.2 million and $21.5 million for the three months ended June 30, 2024 and 2023, respectively and $72.8 million and $48.8 million for the six months ended June 30, 2024 and 2023, respectively. The Company classifies any interest and penalties related to income taxes assessed by jurisdiction as part of income tax expense. The Company did not have any uncertain tax positions recorded as of June 30, 2024 and December 31, 2023. The Company has not been assessed interest or penalties by any major tax jurisdictions related to prior years. The Company files income tax returns in the U.S., including federal and multiple state and local jurisdictions. We are currently under examination by California for the 2020 and 2021 tax years. The outcome of this examination is not yet determinable.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions We had no related party transactions for the six months ended June 30, 2024 and 2023.

Supplemental Disclosure to Cons

Supplemental Disclosure to Consolidated Statements of Cash Flows	6 Months Ended
	Jun. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosure to Consolidated Statements of Cash Flows	Supplemental Disclosure to Consolidated Statements of Cash Flows The following are supplemental disclosures to the consolidated statements of cash flows (in thousands): Six Months Ended June 30, 2024 2023 Supplemental disclosure of cash flow information: Interest paid (capitalized), net $ 63 $ (2,724) Income taxes paid, net $ 105,485 $ 6,719 Supplemental disclosures of noncash activities: Increase in share repurchase excise tax accrual $ 572 $ — Amortization of senior note discount capitalized to real estate inventory $ 511 $ 523 Amortization of deferred loan costs capitalized to real estate inventory $ 1,988 $ 1,980

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 118,002	$ 60,724	$ 217,057	$ 135,466

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization, Basis of Presen_2

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They should be read in conjunction with our consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023. In the opinion of management, all adjustments consisting of normal recurring adjustments, necessary for a fair presentation with respect to interim financial statements, have been included. The results for the six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the full year ending December 31, 2024 due to seasonal variations and other factors. The consolidated financial statements include the accounts of Tri Pointe Homes and its wholly owned subsidiaries, as well as other entities in which Tri Pointe Homes has a controlling interest and variable interest entities (“VIEs”) in which Tri Pointe Homes is the primary beneficiary. The noncontrolling interests as of June 30, 2024 and December 31, 2023 represent the outside owners’ interests in the Company’s consolidated entities. All significant intercompany accounts have been eliminated upon consolidation. Unless the context otherwise requires, the terms “Tri Pointe”, “the Company”, “we”, “us”, and “our” used herein refer to Tri Pointe Homes, Inc., a Delaware corporation, and its consolidated subsidiaries.
Use of Estimates	The preparation of these financial statements requires our management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from our estimates.
Cash and Cash Equivalents	We define cash and cash equivalents as cash on hand, demand deposits with financial institutions, and short-term liquid investments with a maturity date of less than three months from the date of acquisition, including U.S. Treasury bills and government money-mark funds with maturities of 90 days or less when purchased. The Company’s cash balances exceed federally insurable limits. The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts.
Concentration of Credit Risk	We define cash and cash equivalents as cash on hand, demand deposits with financial institutions, and short-term liquid investments with a maturity date of less than three months from the date of acquisition, including U.S. Treasury bills and government money-mark funds with maturities of 90 days or less when purchased. The Company’s cash balances exceed federally insurable limits. The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts.
Revenue Recognition	We recognize revenue in accordance with Accounting Standards Topic 606 (“ASC 606”), Revenue from Contracts with Customers . Under ASC 606, we apply the following steps to determine the timing and amount of revenue to recognize: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. Home sales revenue We generate the majority of our total revenues from home sales, which consists of our core business operation of building and delivering completed homes to homebuyers. Home sales revenue and related profit is generally recognized when title to and possession of the home are transferred to the homebuyer at the home closing date. Our performance obligation to deliver the agreed-upon home is generally satisfied in less than one year from the original contract date. Included in home sales revenue are forfeited deposits, which occur when homebuyers cancel home purchase contracts that include a nonrefundable deposit. Both revenue from forfeited deposits and deferred revenue resulting from uncompleted performance obligations existing at the time we deliver new homes to our homebuyers are immaterial. Financial services revenues Tri Pointe Solutions is a reportable segment and is comprised of our Tri Pointe Connect mortgage financing operations, Tri Pointe Assurance title and escrow services operations, and Tri Pointe Advantage property and casualty insurance agency operations. Mortgage financing operations For the year ended December 31, 2023, our Tri Pointe Connect mortgage operations were conducted through a joint venture with an established mortgage lender. Tri Pointe Connect acted as a preferred mortgage loan broker to our homebuyers in all of the markets in which we operate, generating income from fees paid by third party lenders for the successful funding and closing of loans for homebuyers that originated through Tri Pointe Connect. For the year ended December 31, 2023, Tri Pointe Connect was fully consolidated in accordance with Accounting Standards Topic 810 (“ASC 810”), Consolidation, under the Financial Services section of our consolidated statements of operations, with the noncontrolling interest recorded on the consolidated statements of operations as net income attributable to noncontrolling interests. Effective February 1, 2024, we acquired the minority equity interest in the joint venture, upon which Tri Pointe Connect became a wholly owned subsidiary of the Company. In connection with this transaction, Tri Pointe Connect expanded its operations to include mortgage lending services to our homebuyers in all of the markets in which we operate and provide mortgage financing by utilizing funds made available pursuant to repurchase agreements with third party lenders and by utilizing its own funds. We intend to sell all of the loans we originate in the secondary market within a short period of time after origination. Tri Pointe Connect will retain the ability to act as a mortgage loan broker for our homebuyers that originate loans with third party lenders. Revenues from mortgage financing operations primarily represent mortgage loan broker fees paid by third party lenders, fees earned on mortgage loan originations and the realized and unrealized gains and losses associated with the sales and changes in the fair value of mortgage loans held for sale. Revenue from mortgage loan broker fees, loan origination fees, commitment fees and discount points are recognized at the time the mortgage loans are funded. Title and escrow services operations Tri Pointe Assurance provides title examinations for our homebuyers in the Carolinas and Colorado and both title examinations and escrow services for our homebuyers in Arizona, the District of Columbia, Maryland, Nevada, Texas, Washington and Virginia. Tri Pointe Assurance is a wholly owned subsidiary of Tri Pointe and acts as a title agency for First American Title Insurance Company. Revenue from our title and escrow services operations is fully recognized at the time of the consummation of the home sales transaction, at which time no further performance obligations are left to be satisfied. Tri Pointe Assurance revenue is included in the Financial Services section of our consolidated statements of operations. Property and casualty insurance agency operations Tri Pointe Advantage is a wholly owned subsidiary of Tri Pointe and provides property and casualty insurance agency services that help facilitate the closing process in all of the markets in which we operate. The total consideration for these services, includ ing renewal options, is estimated upon the issuance of the initial insurance policy, subject to constraint. Tri Pointe Advantage revenue is included in the Financial Services section of our consolidated statements of operations.
Recently Issued Accounting Standards Not Yet Adopted	In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which requires expanded disclosure of significant segment expenses and other segment items on an annual and interim basis. ASU 2023-07 is effective for us for annual periods beginning after January 1, 2024 and interim periods beginning after January 1, 2025. We are currently evaluating the impact ASU 2023-07 will have on our financial statement disclosures. In December 2023, FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures
Segment Information	In accordance with ASC Topic 280, Segment Reporting , in determining the most appropriate reportable segments within our homebuilding business, we have considered similar economic and other characteristics, including product types, average sales prices, gross profits, production processes, suppliers, subcontractors, regulatory environments, land acquisition results, and underlying demand and supply. Based upon these factors and in consideration of the geographical layout of our homebuilding markets, we have identified three homebuilding reporting segments and, as such, our homebuilding segments are reported under the following hierarchy: West region: Arizona, California, Nevada and Washington Central region: Colorado, Texas and Utah East region: District of Columbia, Florida, Maryland, North Carolina, South Carolina and Virginia In September 2023, we announced our expansion into the greater Salt Lake City region with the launch of a new division in Utah. In April 2024 we announced further expansion into Orlando, Florida, and the Coastal Carolinas area, which includes parts of Georgia and South Carolina. As of June 30, 2024, we had not yet commenced significant operations in these new markets, however we have controlled lots within Utah. Our Tri Pointe Solutions financial services operation is a reportable segment and is comprised of our Tri Pointe Connect mortgage financing operations, our Tri Pointe Assurance title and escrow services operations, and our Tri Pointe Advantage property and casualty insurance agency operations. For further details, see Note 1, Organization, Basis of Presentation and Summary of Significant Accounting Policies. Corporate is a non-operating segment that develops and implements company-wide strategic initiatives and provides support to our homebuilding reporting segments by centralizing certain administrative functions, such as marketing, legal, accounting, treasury, insurance, internal audit, risk management, information technology and human resources, to benefit from economies of scale. Our Corporate non-operating segment also includes general and administrative expenses related to operating our corporate headquarters. All of the expenses incurred by Corporate are allocated to each of the homebuilding reporting segments based on their respective percentage of revenues. The reportable segments follow the same accounting policies used for our consolidated financial statements, as described in Note 1, Organization, Basis of Presentation and Summary of Significant Accounting Policies . Operational results of each reportable segment are not necessarily indicative of the results that would have been achieved had the reportable segment been an independent, stand-alone entity during the periods presented.
Fair Value Measurements	Fair Value Measurements ASC Topic 820, Fair Value Measurements and Disclosures , defines “fair value” as the price that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at measurement date and requires assets and liabilities carried at fair value to be classified and disclosed in the following three categories: • Level 1—Quoted prices for identical instruments in active markets • Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are inactive; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets at measurement date • Level 3—Valuations derived from techniques where one or more significant inputs or significant value drivers are unobservable in active markets at measurement date

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Financial Information Relating to Reportable Segments	Total revenues and income before income taxes for each of our reportable segments were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues West $ 677,649 $ 525,796 $ 1,231,240 $ 1,006,737 Central 301,594 198,490 575,817 364,630 East 158,707 102,673 257,101 226,377 Total homebuilding revenues 1,137,950 826,959 2,064,158 1,597,744 Financial services 16,974 10,370 30,168 19,246 Total $ 1,154,924 $ 837,329 $ 2,094,326 $ 1,616,990 Income before income taxes West $ 90,523 $ 52,496 $ 163,382 $ 125,407 Central 44,025 17,903 87,318 31,842 East 18,597 10,079 28,558 23,391 Total homebuilding income before income taxes 153,145 80,478 279,258 180,640 Financial services 6,084 2,965 10,551 6,010 Total $ 159,229 $ 83,443 $ 289,809 $ 186,650 Total real estate inventories and total assets for each of our reportable segments, as of the date indicated, were as follows (in thousands): June 30, 2024 December 31, 2023 Real estate inventories West $ 2,245,659 $ 2,209,113 Central 777,098 762,051 East 443,054 366,319 Total $ 3,465,811 $ 3,337,483 Total assets (1) West $ 2,516,024 $ 2,557,608 Central 948,241 947,200 East 486,885 421,630 Corporate 558,891 941,824 Total homebuilding assets 4,510,041 4,868,262 Financial services 86,157 46,326 Total $ 4,596,198 $ 4,914,588 __________ (1 ) Total assets as of June 30, 2024 and December 31, 2023 includes $139.3 million of goodwill, with $125.4 million included in the West segment, $8.3 million included in the Central segment and $5.6 million included in the East segment. Total Corporate assets as of June 30, 2024 and December 31, 2023 includes our Tri Pointe Homes trade name. For further details on goodwill and our intangible assets, see Note 8, Goodwill and Other Intangible Assets

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the components used in the computation of basic and diluted earnings per share (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net income available to common stockholders $ 118,002 $ 60,724 $ 217,057 $ 135,466 Denominator: Basic weighted-average shares outstanding 94,059,037 99,598,933 94,645,676 100,305,168 Effect of dilutive shares: Stock options and unvested restricted stock units 680,982 1,036,031 659,793 879,825 Diluted weighted-average shares outstanding 94,740,019 100,634,964 95,305,469 101,184,993 Earnings per share Basic $ 1.25 $ 0.61 $ 2.29 $ 1.35 Diluted $ 1.25 $ 0.60 $ 2.28 $ 1.34 Antidilutive stock options and unvested restricted stock units not included in diluted earnings per share 1,305,166 2,580,904 1,579,593 2,737,110

Receivables (Tables)

Receivables (Tables)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Schedule of Receivables	Receivables consisted of the following (in thousands): June 30, 2024 December 31, 2023 Escrow proceeds and other accounts receivable, net $ 45,630 $ 158,622 Warranty insurance receivable (Note 13) 66,007 66,014 Total receivables $ 111,637 $ 224,636

Real Estate Inventories (Tables

Real Estate Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Real Estate Inventories	Real estate inventories consisted of the following (in thousands): June 30, 2024 December 31, 2023 Real estate inventories owned: Homes completed or under construction $ 1,637,648 $ 1,402,762 Land under development 1,172,934 1,299,074 Land held for future development 155,293 153,615 Model homes 305,660 306,565 Total real estate inventories owned 3,271,535 3,162,016 Real estate inventories not owned: Land purchase and land option deposits 194,276 175,467 Total real estate inventories not owned 194,276 175,467 Total real estate inventories $ 3,465,811 $ 3,337,483
Schedule of Interest Incurred, Capitalized and Expensed	Interest incurred, capitalized and expensed were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Interest incurred $ 30,378 $ 37,394 $ 66,534 $ 74,873 Interest capitalized (30,378) (37,394) (66,534) (74,873) Interest expensed $ — $ — $ — $ — Capitalized interest in beginning inventory $ 226,957 $ 208,639 $ 221,647 $ 191,411 Interest capitalized as a cost of inventory 30,378 37,394 66,534 74,873 Interest previously capitalized as a cost of inventory, included in cost of sales (39,164) (25,681) (70,010) (45,932) Capitalized interest in ending inventory $ 218,171 $ 220,352 $ 218,171 $ 220,352
Schedule of Real Estate Inventory Impairments and Land Option Abandonments	Real estate inventory impairments and land and lot option abandonments and pre-acquisition charges consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Real estate inventory impairments $ — $ 11,500 $ — $ 11,500 Land and lot option abandonments and pre-acquisition charges 968 261 1,370 978 Total $ 968 $ 11,761 $ 1,370 $ 12,478

Investments in Unconsolidated_2

Investments in Unconsolidated Entities (Tables)	6 Months Ended
	Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Aggregated Assets, Liabilities and Operating Results of Entities as Equity-Method Investments	Aggregated assets, liabilities and equity of the entities we account for as equity-method investments are as follo ws (in thousands): June 30, 2024 December 31, 2023 Assets Cash $ 35,303 $ 35,308 Receivables 95,482 38,839 Real estate inventories 414,568 450,097 Other assets 6,461 27,632 Total assets $ 551,814 $ 551,876 Liabilities and equity Debt obligations and other liabilities $ 157,959 $ 155,616 Company’s equity 133,591 131,824 Outside interests’ equity 260,264 264,436 Total liabilities and equity $ 551,814 $ 551,876 Aggregated results of operations from unconsolidated entities (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales $ 34,016 $ 37,757 $ 63,914 $ 59,895 Other operating expense (31,294) (37,286) (61,351) (58,939) Other income (expense), net 831 (3) 825 (6) Net income $ 3,553 $ 468 $ 3,388 $ 950 Company’s equity in income of unconsolidated entities $ 99 $ 42 $ 156 $ 269

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Interests in Land Option Agreements	The following provides a summary of our interests in land and lot option agreements (in thousands): June 30, 2024 December 31, 2023 Deposits Remaining Consolidated Deposits Remaining Consolidated Unconsolidated VIEs $ 180,182 $ 1,486,614 N/A $ 159,164 $ 1,017,791 N/A Other land option agreements 14,094 205,988 N/A 16,303 189,007 N/A Total $ 194,276 $ 1,692,602 $ — $ 175,467 $ 1,206,798 $ —

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consisted of the following (in thousands): June 30, 2024 December 31, 2023 Prepaid expenses $ 8,999 $ 8,462 Refundable fees and other deposits 8,285 8,726 Development rights, held for future use or sale 1,192 1,192 Deferred loan costs—loans payable 4,356 5,089 Operating properties and equipment, net 63,417 66,284 Lease right-of-use assets 65,054 66,404 Income tax receivable 9,645 — Other 3,736 936 Total $ 164,684 $ 157,093

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following (in thousands): June 30, 2024 December 31, 2023 Accrued payroll and related costs $ 40,420 $ 68,575 Warranty reserves (Note 13) 107,196 106,993 Estimated cost for completion of real estate inventories 134,463 108,175 Customer deposits 58,411 43,991 Accrued income taxes payable — 23,138 Accrued interest 5,908 8,470 Other tax liability 3,126 2,976 Lease liabilities 79,216 78,782 Other 8,497 12,431 Total $ 437,237 $ 453,531

Senior Notes, Loans Payable a_2

Senior Notes, Loans Payable and Mortgage Repurchase Facilities (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Senior Notes, Loans Payable and Mortgage Repurchase Facilities	The Company’s outstanding senior notes (together, the “Senior Notes”) consisted of the following (in thousands): June 30, 2024 December 31, 2023 5.875% Senior Notes due June 15, 2024 $ — $ 450,000 5.250% Senior Notes due June 1, 2027 300,000 300,000 5.700% Senior Notes due June 15, 2028 350,000 350,000 Discount and deferred loan costs (3,970) (5,751) Total $ 646,030 $ 1,094,249 The Company’s outstanding loans payable consisted of the following (in thousands): June 30, 2024 December 31, 2023 Term loan facility $ 250,000 $ 250,000 Seller financed loans 33,929 38,337 Total $ 283,929 $ 288,337
Schedule of Repurchase Agreements	The following table provides a summary of our Repurchase Agreements as of June 30, 2024 ($ in thousands): Facility Outstanding Balance Facility Amount Interest Rate Expiration Date Collateral (1) Warehouse A $ 29,476 $ 80,000 Term SOFR + 1.75% 3/11/2025 Mortgage Loans Warehouse B 2,186 100,000 Term SOFR + 1.75% 5/28/2025 Mortgage Loans Warehouse C (2) 435 50,000 Term SOFR + 1.75% 5/30/2025 Mortgage Loans Warehouse C (2) — 50,000 Term SOFR + 1.75% On Demand Mortgage Loans Total $ 32,097 $ 280,000 __________ (1 ) Mortgage loans held for sale consist of single-family residential loans collateralized by the underlying property. Generally, all of the loans originated by us are sold in the secondary mortgage market within 30 days after origination. As of June 30, 2024, residential mortgage loans available-for-sale had an aggregate fair value of $32.9 million. (2) Warehouse C is a $100 million facility, of which $50 million is committed and $50 million is uncommitted.

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Related to Financial Instruments, Measured at Fair Value on a Recurring Basis	A summary of assets and liabilities at June 30, 2024 and December 31, 2023, related to our financial instruments, measured at fair value on a recurring basis, is set forth below (in thousands): June 30, 2024 December 31, 2023 Hierarchy Book Value Fair Value Book Value Fair Value Senior Notes (1) Level 2 $ 650,000 $ 633,545 $ 1,099,489 $ 1,066,835 Term loan (2) Level 2 $ 250,000 $ 250,000 $ 250,000 $ 250,000 Seller financed loans (3) Level 2 $ 33,929 $ 33,929 $ 38,337 $ 38,337 Mortgage loans held for sale (4) Level 2 $ 32,936 $ 32,936 $ — $ — Mortgage repurchase facilities (5) Level 2 $ 32,096 $ 32,096 $ — $ — __________ (1) The book value of the Senior Notes is net of discounts for December 31, 2023 , excluding deferred loan costs of $5.2 million. The estimated fair value of the Senior Notes at June 30, 2024 and December 31, 2023 is based on quoted market prices. (2) The estimate d fair value of the Term Loan Facility as of June 30, 2024 and December 31, 2023 approximated book value due to the variable interest rate terms of this loan. (3) The estimated fair value of our seller financed loans as of June 30, 2024 and December 31, 2023 approximated book value due to the short term nature of these loans. (4) The estimated fair value for mortgage loans held for sale are determined based on quoted market prices, and are measured at fair value on a recurring basis, with changes in fair value recognized in our consolidated statements of operations . (5) The estimated fair value of our mortgage repurchase facilities approximated book value due to the short term nature of these maturities.
Schedule of Nonfinancial Assets Measured at Fair Value on a Nonrecurring Basis	The following table presents impairment charges and the remaining net fair value for nonfinancial assets that were measured during the periods presented (in thousands): Six Months Ended June 30, 2024 Year Ended December 31, 2023 Hierarchy Impairment Fair Value Impairment Fair Value Real estate inventories (1) Level 3 $ — $ — $ 11,500 $ 39,970 __________ (1) Fair value of real estate inventories, net of impairment charges represents only those assets whose carrying values were adjusted to fair value in the respe ctive periods presented. Fair Value Net of Impairment represents the fair value of the real estate inventories, net of the impairment charge, as of the date that the fair value measurements were made. The carrying value for these real estate inventories subsequently changed from the fair value reflected due to activity that occurred since the measurement date.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Warranty Reserves	Warranty reserve activity consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Warranty reserves, beginning of period $ 106,602 $ 101,527 $ 106,993 $ 104,375 Warranty reserves accrued 9,834 6,284 17,734 12,186 Warranty expenditures (9,240) (8,568) (17,531) (17,318) Warranty reserves, end of period $ 107,196 $ 99,243 $ 107,196 $ 99,243
Schedule of Lease Costs and Other Information	See below for additional information on leases (dollars in thousands): Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Lease Cost Operating lease cost (included in SG&A expense) $ 3,050 $ 2,408 $ 5,904 $ 5,253 Ground lease cost (included in other operations expense) 765 783 1,530 1,446 Sublease income, operating leases — — — — Sublease income, ground leases (included in other operations revenue) (777) (795) (1,553) (1,468) Net lease cost $ 3,038 $ 2,396 $ 5,881 $ 5,231 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating lease cash flows (included in operating cash flows) $ 3,410 $ 2,443 $ 5,912 $ 4,872 Ground lease cash flows (included in operating cash flows) $ 664 $ 664 $ 1,327 $ 1,327 Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,374 $ 89 $ 5,264 $ 2,016 June 30, 2024 December 31, 2023 Weighted-average discount rate: Operating leases 4.9 % 4.9 % Ground leases 10.2 % 10.2 % Weighted-average remaining lease term (in years): Operating leases 5.9 6.3 Ground leases 43.9 44.4
Schedule of Future Minimum Lease Payments	The future minimum lease payments under our operating leases are as follows (in thousands): Property, Equipment and Other Leases Ground Leases (1) Remaining in 2024 $ 5,697 $ 1,619 2025 11,104 3,237 2026 10,096 3,237 2027 8,834 3,237 2028 8,477 3,237 Thereafter 15,676 75,403 Total lease payments $ 59,884 $ 89,970 Less: Interest 8,509 62,130 Present value of operating lease liabilities $ 51,375 $ 27,840 __________ (1) Ground leases are fully subleased through 2041, representing $56.1 million of the $90.0 million future ground lease obligations.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Compensation Expense Recognized Related to All Stock-Based Awards	The following table presents compensation expense recognized related to all stock-based awards (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Total stock-based compensation $ 8,940 $ 4,162 $ 15,619 $ 8,023
Schedule of Stock Option Awards	The following table presents a summary of stock option awards for the six months ended June 30, 2024: Options Weighted Weighted Aggregate Options outstanding at December 31, 2023 66,043 $ 15.76 0.2 $ 1,297 Granted — — — — Exercised (66,043) $ 15.76 — — Forfeited — $ — — — Options outstanding at June 30, 2024 — $ — $ — $ — Options exercisable at June 30, 2024 — $ — $ — $ —
Schedule of Restricted Stock Units	The following table presents a summary of time-based and performance-based RSUs for the six months ended June 30, 2024: Restricted Weighted Nonvested RSUs at December 31, 2023 3,889,380 $ 22.71 Granted 1,125,140 $ 35.56 Vested (1,219,664) $ 19.87 Forfeited (236,952) $ 19.53 Nonvested RSUs at June 30, 2024 3,557,904 $ 27.73

Supplemental Disclosure to Co_2

Supplemental Disclosure to Consolidated Statements of Cash Flows (Tables)	6 Months Ended
	Jun. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Disclosure to Consolidated Statement of Cash Flows	The following are supplemental disclosures to the consolidated statements of cash flows (in thousands): Six Months Ended June 30, 2024 2023 Supplemental disclosure of cash flow information: Interest paid (capitalized), net $ 63 $ (2,724) Income taxes paid, net $ 105,485 $ 6,719 Supplemental disclosures of noncash activities: Increase in share repurchase excise tax accrual $ 572 $ — Amortization of senior note discount capitalized to real estate inventory $ 511 $ 523 Amortization of deferred loan costs capitalized to real estate inventory $ 1,988 $ 1,980

Organization, Basis of Presen_3

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details)	Jun. 30, 2024 state
Accounting Policies [Abstract]
Number of states in which entity operates	10

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 business_line subsegment
Segment Reporting [Abstract]
Number of principal businesses | business_line	2
Number of reportable homebuilding segments | subsegment	3

Segment Information - Summary o

Segment Information - Summary of Financial Information Relating to Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Reporting Information
Revenues	$ 1,154,924	$ 837,329	$ 2,094,326	$ 1,616,990
Income before income taxes	159,229	83,443	289,809	186,650
Real estate inventories	3,465,811		3,465,811		$ 3,337,483
Total assets	4,596,198		4,596,198		4,914,588
Goodwill	139,300		139,300		139,300
Homebuilding Segment
Segment Reporting Information
Revenues	1,137,950	826,959	2,064,158	1,597,744
Income before income taxes	153,145	80,478	279,258	180,640
Real estate inventories	3,465,811		3,465,811		3,337,483
Total assets	4,510,041		4,510,041		4,868,262
Goodwill	139,300		139,300		139,300
Homebuilding Segment | Corporate
Segment Reporting Information
Total assets	558,891		558,891		941,824
Homebuilding Segment | West
Segment Reporting Information
Revenues	677,649	525,796	1,231,240	1,006,737
Income before income taxes	90,523	52,496	163,382	125,407
Goodwill	125,400		125,400		125,400
Homebuilding Segment | West | Operating Segments
Segment Reporting Information
Real estate inventories	2,245,659		2,245,659		2,209,113
Total assets	2,516,024		2,516,024		2,557,608
Homebuilding Segment | Central
Segment Reporting Information
Revenues	301,594	198,490	575,817	364,630
Income before income taxes	44,025	17,903	87,318	31,842
Goodwill	8,300		8,300		8,300
Homebuilding Segment | Central | Operating Segments
Segment Reporting Information
Real estate inventories	777,098		777,098		762,051
Total assets	948,241		948,241		947,200
Homebuilding Segment | East
Segment Reporting Information
Revenues	158,707	102,673	257,101	226,377
Income before income taxes	18,597	10,079	28,558	23,391
Goodwill	5,600		5,600		5,600
Homebuilding Segment | East | Operating Segments
Segment Reporting Information
Real estate inventories	443,054		443,054		366,319
Total assets	486,885		486,885		421,630
Financial services
Segment Reporting Information
Revenues	16,974	10,370	30,168	19,246
Income before income taxes	6,084	$ 2,965	10,551	$ 6,010
Financial services | Operating Segments
Segment Reporting Information
Total assets	$ 86,157		$ 86,157		$ 46,326

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net income available to common stockholders	$ 118,002	$ 60,724	$ 217,057	$ 135,466
Net income available to common stockholders	$ 118,002	$ 60,724	$ 217,057	$ 135,466
Denominator:
Basic weighted-average shares outstanding (in shares)	94,059,037	99,598,933	94,645,676	100,305,168
Effect of dilutive shares:
Stock options and unvested restricted stock units (in shares)	680,982	1,036,031	659,793	879,825
Diluted weighted-average shares outstanding (in shares)	94,740,019	100,634,964	95,305,469	101,184,993
Earnings per share
Basic (in dollars per share)	$ 1.25	$ 0.61	$ 2.29	$ 1.35
Diluted (in dollars per share)	$ 1.25	$ 0.60	$ 2.28	$ 1.34
Antidilutive stock options and unvested restricted stock units not included in diluted earnings per share (in shares)	1,305,166	2,580,904	1,579,593	2,737,110

Receivables - Components of Rec

Receivables - Components of Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
Escrow proceeds and other accounts receivable, net	$ 45,630	$ 158,622
Warranty insurance receivable	66,007	66,014
Total receivables	$ 111,637	$ 224,636

Receivables - Narrative (Detail

Receivables - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
Allowance for doubtful accounts	$ 436	$ 436

Real Estate Inventories - Summa

Real Estate Inventories - Summary of Real Estate Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Real estate inventories owned:
Homes completed or under construction	$ 1,637,648	$ 1,402,762
Land under development	1,172,934	1,299,074
Land held for future development	155,293	153,615
Model homes	305,660	306,565
Total real estate inventories owned	3,271,535	3,162,016
Real estate inventories not owned:
Land purchase and land option deposits	194,276	175,467
Total real estate inventories not owned	194,276	175,467
Total real estate inventories	$ 3,465,811	$ 3,337,483

Real Estate Inventories - Sum_2

Real Estate Inventories - Summary of Interest Incurred, Capitalized and Expensed (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Real Estate [Abstract]
Interest incurred	$ 30,378	$ 37,394	$ 66,534	$ 74,873
Interest capitalized	(30,378)	(37,394)	(66,534)	(74,873)
Interest expensed	0	0	0	0
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized interest in beginning inventory	226,957	208,639	221,647	191,411
Interest capitalized as a cost of inventory	30,378	37,394	66,534	74,873
Interest previously capitalized as a cost of inventory, included in cost of sales	(39,164)	(25,681)	(70,010)	(45,932)
Capitalized interest in ending inventory	$ 218,171	$ 220,352	$ 218,171	$ 220,352

Real Estate Inventories - Sched

Real Estate Inventories - Schedule of Real Estate Inventory Impairments and Land Option Abandonments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Real Estate [Abstract]
Real estate inventory impairments	$ 0	$ 11,500	$ 0	$ 11,500
Land and lot option abandonments and pre-acquisition charges	968	261	1,370	978
Total	$ 968	$ 11,761	$ 1,370	$ 12,478

Real Estate Inventories - Narra

Real Estate Inventories - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($) community	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($) community
Real Estate [Line Items]
Real estate inventory impairments	$ 0	$ 11,500	$ 0	$ 11,500
West
Real Estate [Line Items]
Real estate inventory impairments		$ 11,500		$ 11,500
West | Homebuilding Segment
Real Estate [Line Items]
Number of communities impaired | community		1		1
Real estate, impairment, discount rate		0.10		0.10

Investments in Unconsolidated_3

Investments in Unconsolidated Entities - Narrative (Details) - Equity Method Investment, Nonconsolidated Investee or Group of Investees $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) investment	Dec. 31, 2023 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of equity investments | investment	14
Long-term debt, gross | $	$ 130.3	$ 125.9
Minimum
Schedule of Equity Method Investments [Line Items]
Ownership percentage	8%
Maximum
Schedule of Equity Method Investments [Line Items]
Ownership percentage	50%

Investments in Unconsolidated_4

Investments in Unconsolidated Entities - Aggregated Assets, Liabilities and Operating Results of Entities as Equity-Method Investments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Assets
Cash	$ 492,940		$ 492,940		$ 868,953
Receivables	111,637		111,637		224,636
Real estate inventories	3,465,811		3,465,811		3,337,483
Other assets	164,684		164,684		157,093
Total assets	4,596,198		4,596,198		4,914,588
Liabilities and equity
Company’s equity	3,139,484		3,139,484		3,010,958
Outside interests’ equity	12		12		2,680
Total liabilities and equity	4,596,198		4,596,198		4,914,588
Net income	118,002	$ 61,971	216,998	$ 137,828
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Assets
Cash	35,303		35,303		35,308
Receivables	95,482		95,482		38,839
Real estate inventories	414,568		414,568		450,097
Other assets	6,461		6,461		27,632
Total assets	551,814		551,814		551,876
Liabilities and equity
Debt obligations and other liabilities	157,959		157,959		155,616
Company’s equity	133,591		133,591		131,824
Outside interests’ equity	260,264		260,264		264,436
Total liabilities and equity	551,814		551,814		$ 551,876
Net sales	34,016	37,757	63,914	59,895
Other operating expense	(31,294)	(37,286)	(61,351)	(58,939)
Other income (expense), net	831	(3)	825	(6)
Net income	3,553	468	3,388	950
Company’s equity in income of unconsolidated entities	$ 99	$ 42	$ 156	$ 269

Variable Interest Entities - Su

Variable Interest Entities - Summary of Interests in Land Option Agreements (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entity
Deposits	$ 194,276	$ 175,467
Remaining Purchase Price	1,692,602	1,206,798
Consolidated Inventory Held by VIEs	0	0
Unconsolidated VIEs
Variable Interest Entity
Deposits	180,182	159,164
Remaining Purchase Price	1,486,614	1,017,791
Other land option agreements
Variable Interest Entity
Deposits	14,094	16,303
Remaining Purchase Price	$ 205,988	$ 189,007

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Other land option agreements
Variable Interest Entity
Capitalized pre-acquisition costs	$ 17.3	$ 9.5

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Details) $ in Millions	Jun. 30, 2024 USD ($) intangible_asset	Dec. 31, 2023 USD ($) intangible_asset
Schedule Of Intangible Assets And Goodwill
Goodwill	$ 139.3	$ 139.3
WRECO | Trade Names
Schedule Of Intangible Assets And Goodwill
Trade names, net carrying amount	$ 17.3	$ 17.3
WRECO | Trade Names
Schedule Of Intangible Assets And Goodwill
Number of intangible assets | intangible_asset	1	1

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 8,999	$ 8,462
Refundable fees and other deposits	8,285	8,726
Development rights, held for future use or sale	1,192	1,192
Deferred loan costs—loans payable	4,356	5,089
Operating properties and equipment, net	63,417	66,284
Lease right-of-use assets	$ 65,054	$ 66,404
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total	Total
Income tax receivable	$ 9,645	$ 0
Other	3,736	936
Total	$ 164,684	$ 157,093

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued payroll and related costs	$ 40,420		$ 68,575
Warranty reserves	107,196	$ 106,602	106,993	$ 99,243	$ 101,527	$ 104,375
Estimated cost for completion of real estate inventories	134,463		108,175
Customer deposits	58,411		43,991
Accrued income taxes payable	0		23,138
Accrued interest	5,908		8,470
Other tax liability	3,126		2,976
Lease liabilities	$ 79,216		$ 78,782
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Total		Total
Other	$ 8,497		$ 12,431
Total	$ 437,237		$ 453,531

Senior Notes, Loans Payable a_3

Senior Notes, Loans Payable and Mortgage Repurchase Facilities - Schedule of Senior Notes (Details) - Senior Notes - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2020	Jun. 30, 2017
Debt Instrument
Discount and deferred loan costs	$ (3,970)	$ (5,751)
Total	$ 646,030	$ 1,094,249
5.875% Senior Notes due June 15, 2024
Debt Instrument
Interest rate on senior note (percent)	5.875%	5.875%		5.875%
Aggregate outstanding debt	$ 0	$ 450,000
5.250% Senior Notes due June 1, 2027
Debt Instrument
Interest rate on senior note (percent)	5.25%	5.25%		5.25%
Aggregate outstanding debt	$ 300,000	$ 300,000
5.700% Senior Notes due June 15, 2028
Debt Instrument
Interest rate on senior note (percent)	5.70%	5.70%	5.70%
Aggregate outstanding debt	$ 350,000	$ 350,000

Senior Notes, Loans Payable a_4

Senior Notes, Loans Payable and Mortgage Repurchase Facilities - Narrative (Details)			1 Months Ended		3 Months Ended			6 Months Ended
	May 15, 2024	Dec. 15, 2023 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2017 USD ($)	Jun. 30, 2024 USD ($) loan	May 31, 2024 USD ($) agreement	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) loan	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) loan
Debt Instrument
Deferred loan costs—loans payable					$ 4,356,000			$ 4,356,000		$ 5,089,000
Accrued interest					5,908,000			5,908,000		8,470,000
Loans payable					$ 283,929,000			$ 283,929,000		$ 288,337,000
Number of seller-financed loans | loan					2			2		2
Mortgage repurchase facilities					$ 32,096,000			$ 32,096,000		$ 0
Interest incurred					30,378,000		$ 37,394,000	66,534,000	$ 74,873,000
Amortization of deferred financing costs					1,300,000		$ 1,300,000	2,500,000	$ 2,500,000
Mortgage repurchase facilities
Debt Instrument
Maximum borrowing capacity under facility					280,000,000	$ 280,000,000		280,000,000
Line of credit facility, current borrowing capacity					247,900,000			247,900,000
Number of master repurchase agreements | agreement						3
Mortgage repurchase facilities					$ 32,097,000			$ 32,097,000
Repurchase agreement weighted average interest rate					6.60%			6.60%
Senior notes
Debt Instrument
Deferred loan costs—loans payable					$ 4,000,000			$ 4,000,000		5,200,000
Accrued interest					2,100,000			2,100,000		3,200,000
Seller financed loans
Debt Instrument
Loans payable					$ 33,929,000			$ 33,929,000		$ 38,337,000
Seller financed loans | Seller-Financed Loans, Seller One
Debt Instrument
Interest rate on senior note (percent)					4.50%			4.50%		4.50%
Loans payable					$ 32,600,000			$ 32,600,000		$ 37,400,000
Second Seller Financed Loan | Seller-Financed Loans, Seller Two
Debt Instrument
Loans payable					$ 1,300,000			$ 1,300,000		$ 910,000
5.700% Senior Notes due June 15, 2028 | Senior notes
Debt Instrument
Aggregate principal amount			$ 350,000,000
Interest rate on senior note (percent)			5.70%		5.70%			5.70%		5.70%
Debt issuance, percentage of aggregate principal (percent)			100%
Proceeds from issuance of senior notes, net			$ 345,200,000
5.250% Senior Notes due June 1, 2027 | Senior notes
Debt Instrument
Aggregate principal amount				$ 300,000,000
Interest rate on senior note (percent)				5.25%	5.25%			5.25%		5.25%
Debt issuance, percentage of aggregate principal (percent)				100%
Proceeds from issuance of senior notes, net				$ 296,300,000
5.875% Senior Notes due June 15, 2024 | Senior notes
Debt Instrument
Aggregate principal amount				$ 450,000,000
Interest rate on senior note (percent)				5.875%	5.875%			5.875%		5.875%
Debt issuance, percentage of aggregate principal (percent)	100%
Proceeds from issuance of senior notes, net				$ 429,000,000
Notes issue price as a percentage of principal amount				98.15%
Amended Revolving Credit Facility
Debt Instrument
Line of credit facility, potential maximum borrowing capacity under specified conditions		$ 1,200,000,000
Amended Revolving Credit Facility | Revolving Credit Facility
Debt Instrument
Deferred loan costs—loans payable					$ 4,400,000			$ 4,400,000
Accrued interest					1,600,000			1,600,000		$ 1,600,000
Maximum borrowing capacity under facility		$ 750,000,000
Loans payable					0			0
Line of credit facility, current borrowing capacity					707,300,000			707,300,000
Amended Revolving Credit Facility | Revolving Credit Facility | Minimum
Debt Instrument
Debt instrument variable interest rate (percent)		1.25%
Amended Revolving Credit Facility | Revolving Credit Facility | Maximum
Debt Instrument
Debt instrument variable interest rate (percent)		1.90%
Amended Revolving Credit Facility | Letters of Credit
Debt Instrument
Outstanding letters of credit					42,700,000			42,700,000		52,300,000
Term loan facility | Term loan facility
Debt Instrument
Maximum borrowing capacity under facility		$ 250,000,000
Loans payable					$ 250,000,000			$ 250,000,000		$ 250,000,000
Interest rate of outstanding debt (percent)					6.51%			6.51%
Term loan facility | Term loan facility | Minimum
Debt Instrument
Debt instrument variable interest rate (percent)		1.10%
Term loan facility | Term loan facility | Maximum
Debt Instrument
Debt instrument variable interest rate (percent)		1.85%
Revolving Facility and Term Loan Facility
Debt Instrument
Consolidated tangible net worth attributed to Company required under covenants (percent)					95%			95%

Senior Notes, Loans Payable a_5

Senior Notes, Loans Payable and Mortgage Repurchase Facilities - Schedule of Outstanding Loans Payable (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Line of Credit Facility
Loans payable	$ 283,929	$ 288,337
Seller financed loans
Line of Credit Facility
Loans payable	33,929	38,337
Term loan facility | Term loan facility
Line of Credit Facility
Loans payable	$ 250,000	$ 250,000

Senior Notes, Loans Payable a_6

Senior Notes, Loans Payable and Mortgage Repurchase Facilities - Mortgage Repurchase Facilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	May 31, 2024	Dec. 31, 2023
Participating Mortgage Loans [Line Items]
Outstanding Balance	$ 32,096		$ 0
Warehouse C
Participating Mortgage Loans [Line Items]
Facility Amount	100,000
Mortgage repurchase facilities
Participating Mortgage Loans [Line Items]
Outstanding Balance	32,097
Facility Amount	280,000	$ 280,000
Mortgage loans held for sale	32,900
Facility uncommitted amount	247,900
Mortgage repurchase facilities | Warehouse A
Participating Mortgage Loans [Line Items]
Outstanding Balance	29,476
Facility Amount	$ 80,000
Interest Rate	1.75%
Mortgage repurchase facilities | Warehouse B
Participating Mortgage Loans [Line Items]
Outstanding Balance	$ 2,186
Facility Amount	$ 100,000
Interest Rate	1.75%
Mortgage repurchase facilities | Warehouse C
Participating Mortgage Loans [Line Items]
Outstanding Balance	$ 435
Facility Amount	$ 50,000
Interest Rate	1.75%
Mortgage repurchase facilities | Warehouse C
Participating Mortgage Loans [Line Items]
Outstanding Balance	$ 0
Facility Amount	$ 50,000
Interest Rate	1.75%
Facility uncommitted amount	$ 50,000

Fair Value Disclosures - Summar

Fair Value Disclosures - Summary of Assets and Liabilities Related to Financial Instruments, Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred loan costs	$ 4,356	$ 5,089
Level 2 | Recurring | Book Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale	32,936	0
Level 2 | Recurring | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale	32,936	0
Term Loan | Level 2 | Recurring | Book Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets and liabilities related to financial instruments	250,000	250,000
Term Loan | Level 2 | Recurring | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets and liabilities related to financial instruments	250,000	250,000
Mortgage repurchase facilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale	32,900
Mortgage repurchase facilities | Level 2 | Recurring | Book Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage repurchase facilities	32,096	0
Mortgage repurchase facilities | Level 2 | Recurring | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage repurchase facilities	32,096	0
Senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred loan costs	4,000	5,200
Senior notes | Level 2 | Recurring | Book Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets and liabilities related to financial instruments	650,000	1,099,489
Senior notes | Level 2 | Recurring | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets and liabilities related to financial instruments	633,545	1,066,835
Seller financed loans | Level 2 | Recurring | Book Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets and liabilities related to financial instruments	33,929	38,337
Seller financed loans | Level 2 | Recurring | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets and liabilities related to financial instruments	$ 33,929	$ 38,337

Fair Value Disclosures - Summ_2

Fair Value Disclosures - Summary of Nonfinancial Assets Measured at Fair Value on a Nonrecurring Basis (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) community
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Charge	$ 0	$ 11,500	$ 0	$ 11,500
Fair Value Net of Impairment	3,465,811		3,465,811		$ 3,337,483
West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of communities impaired | community					1
Level 3 | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Charge			0		$ 11,500
Fair Value Net of Impairment	$ 0		$ 0		$ 39,970

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details)	12 Months Ended
	Dec. 31, 1987 lease	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Commitment And Contingencies [Line Items]
Legal reserves		$ 0	$ 0
Outstanding warranty insurance receivables		66,007,000	66,014,000
Estimated remaining liabilities related to surety bonds		$ 8,497,000	12,431,000
Office Leases
Commitment And Contingencies [Line Items]
Lease obligation original term (in years)		10 years
Equipment Leases | Minimum
Commitment And Contingencies [Line Items]
Lease obligation original term (in years)		3 years
Equipment Leases | Maximum
Commitment And Contingencies [Line Items]
Lease obligation original term (in years)		4 years
Ground leases
Commitment And Contingencies [Line Items]
Lease obligation original term (in years)	55 years
Number of properties subject to ground leases | lease	2
Ground leases | Ten Year Renewal Option
Commitment And Contingencies [Line Items]
Number of lease renewal options | lease	3
Term of lease extension (in years)	10 years
Ground leases | Forty-five Year Renewal Option
Commitment And Contingencies [Line Items]
Lease obligation original term (in years)	45 years
Number of properties subject to ground leases | lease	1
Ground leases | Extension Through 2071
Commitment And Contingencies [Line Items]
Number of ground leases extended | lease	1
Surety Bonds
Commitment And Contingencies [Line Items]
Outstanding surety bonds		$ 677,100,000	697,200,000
Estimated remaining liabilities related to surety bonds		$ 437,100,000	$ 435,900,000

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Warranty Reserves (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Movement in Standard Product Warranty Accrual
Warranty reserves, beginning of period	$ 106,602	$ 101,527	$ 106,993	$ 104,375
Warranty reserves accrued	9,834	6,284	17,734	12,186
Warranty expenditures	(9,240)	(8,568)	(17,531)	(17,318)
Warranty reserves, end of period	$ 107,196	$ 99,243	$ 107,196	$ 99,243

Commitments and Contingencies_3

Commitments and Contingencies - Lease Costs and Other Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Lessee, Lease, Description
Net lease cost	$ 3,038	$ 2,396	$ 5,881	$ 5,231
Right-of-use assets obtained in exchange for new operating lease liabilities	3,374	89	5,264	2,016
Operating leases
Lessee, Lease, Description
Lease cost	3,050	2,408	5,904	5,253
Sublease income, ground leases (included in other operations revenue)	0	0	0	0
Cash paid for amounts included in the measurement of lease liabilities	$ 3,410	2,443	$ 5,912	4,872
Weighted-average discount rate (percent)	4.90%		4.90%		4.90%
Weighted-average remaining lease term (in years)	5 years 10 months 24 days		5 years 10 months 24 days		6 years 3 months 18 days
Ground leases
Lessee, Lease, Description
Lease cost	$ 765	783	$ 1,530	1,446
Sublease income, ground leases (included in other operations revenue)	(777)	(795)	(1,553)	(1,468)
Cash paid for amounts included in the measurement of lease liabilities	$ 664	$ 664	$ 1,327	$ 1,327
Weighted-average discount rate (percent)	10.20%		10.20%		10.20%
Weighted-average remaining lease term (in years)	43 years 10 months 24 days		43 years 10 months 24 days		44 years 4 months 24 days

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Lessee, Lease, Description
Present value of operating lease liabilities	$ 79,216	$ 78,782
Property, Equipment and Other Leases
Lessee, Lease, Description
Remaining in 2024	5,697
2025	11,104
2026	10,096
2027	8,834
2028	8,477
Thereafter	15,676
Total lease payments	59,884
Less: Interest	8,509
Present value of operating lease liabilities	51,375
Ground Leases
Lessee, Lease, Description
Remaining in 2024	1,619
2025	3,237
2026	3,237
2027	3,237
2028	3,237
Thereafter	75,403
Total lease payments	89,970
Less: Interest	62,130
Present value of operating lease liabilities	27,840
Payments to be received	$ 56,100

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Millions						6 Months Ended	12 Months Ended
	Apr. 29, 2024 $ / shares shares	Feb. 21, 2024 metric $ / shares shares	Dec. 26, 2023 $ / shares shares	May 01, 2023 $ / shares shares	Feb. 22, 2023 metric $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized stock based compensation related to all stock-based awards | $						$ 56.9
Weighted average period, expense to recognized (in years)						1 year 7 months 6 days
Number of separate performance metrics | metric		2			2
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Restricted stock units, granted (in shares)						1,125,140
Granted (in dollars per share) | $ / shares						$ 35.56
Employees and Officers | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Restricted stock units, granted (in shares)		430,887			504,551
Award vesting period (in years)		3 years			3 years
Granted (in dollars per share) | $ / shares		$ 35.51			$ 23.21
Officers | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Restricted stock units, granted (in shares)		656,844	364,215		704,408
Award vesting period (in years)			3 years
Granted (in dollars per share) | $ / shares		$ 35.51	$ 35.83		$ 23.21
Officers | Restricted Stock Units (RSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting rights (percent)		0%			0%
Officers | Restricted Stock Units (RSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting rights (percent)		100%			100%
Officers | Restricted Stock Units (RSUs) | Homebuilding Revenue
Share-based Compensation Arrangement by Share-based Payment Award
Performance percentage (percent)		50%			50%
Officers | Restricted Stock Units (RSUs) | Pre-tax Earnings
Share-based Compensation Arrangement by Share-based Payment Award
Performance percentage (percent)		50%			50%
Non-employee Members on Board of Directors | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Restricted stock units, granted (in shares)	21,835			29,150
Granted (in dollars per share) | $ / shares	$ 37.78			$ 28.30
Employees | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Restricted stock units, granted (in shares)						15,574
Award vesting period (in years)						3 years
Other Employees | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Restricted stock units, granted (in shares)							6,787
Award vesting period (in years)							3 years
2022 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Common stock authorized for incentive plan (in shares)						7,500,000
Shares available for future grant (in shares)						5,324,026

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Compensation Expense Recognized Related to all Stock-Based Awards (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Total stock-based compensation	$ 8,940	$ 4,162	$ 15,619	$ 8,023

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock Option Awards (Details) - Options - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Options
Options outstanding at beginning of period (in shares)	66,043
Granted (in shares)	0
Exercised (in shares)	(66,043)
Forfeited (in shares)	0
Options outstanding at end of period (in shares)	0	66,043
Options exercisable at end of period (in shares)	0
Weighted Average Exercise Price Per Share
Beginning balance (in dollars per share)	$ 15.76
Granted (in dollars per share)	0
Exercised (in dollars per share)	15.76
Forfeited (in dollars per share)	0
Ending balance (in dollars per share)	0	$ 15.76
Exercisable at end of period (in dollars per share)	$ 0
Weighted average contractual life	0 years	2 months 12 days
Weighted average options exercisable	0 years
Aggregate intrinsic value	$ 0	$ 1,297
Aggregate intrinsic value, exercisable at end of period	$ 0

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Restricted Stock Units (Details) - Restricted Stock Units (RSUs)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Restricted Stock Units
Nonvested RSU's beginning balance (in shares) | shares	3,889,380
Granted (in shares) | shares	1,125,140
Vested (in shares) | shares	(1,219,664)
Forfeited (in shares) | shares	(236,952)
Nonvested RSU's ending balance (in shares) | shares	3,557,904
Weighted Average Grant Date Fair Value Per Share
Beginning balance (in dollars per share) | $ / shares	$ 22.71
Granted (in dollars per share) | $ / shares	35.56
Vested (in dollars per share) | $ / shares	19.87
Forfeited (in dollars per share) | $ / shares	19.53
Ending balance (in dollars per share) | $ / shares	$ 27.73

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Deferred tax assets, net	$ 37,996		$ 37,996		$ 37,996
Valuation allowance related to net deferred tax assets	3,400		3,400		$ 3,400
Provision for income taxes	$ 41,227	$ 21,472	$ 72,811	$ 48,822

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Related Party Transactions [Abstract]
Related party transactions	$ 0	$ 0

Supplemental Disclosure to Co_3

Supplemental Disclosure to Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Supplemental disclosure of cash flow information:
Interest paid (capitalized), net	$ 63	$ (2,724)
Income taxes paid, net	105,485	6,719
Supplemental disclosures of noncash activities:
Increase in share repurchase excise tax accrual	572	0
Amortization of senior note discount capitalized to real estate inventory	511	523
Amortization of deferred loan costs capitalized to real estate inventory	$ 1,988	$ 1,980