New Home (NWHM) 10-Q 30 Jul 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 29, 2020
Document Information [Line Items]
Entity Central Index Key	0001574596
Entity Registrant Name	New Home Co Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-36283
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-0560089
Entity Address, Address Line One	85 Enterprise, Suite 450
Entity Address, City or Town	Aliso Viejo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92656
City Area Code	949
Local Phone Number	382-7800
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		18,231,954
Series A Preferred Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Series A Junior Participating Preferred Share Repurchase Rights
Security Exchange Name	NYSE
No Trading Symbol Flag	true
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	NWHM
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 85,588	$ 79,314
Restricted cash	144	117
Contracts and accounts receivable	7,112	15,982
Due from affiliates	140	238
Real estate inventories	370,949	433,938
Investment in and advances to unconsolidated joint ventures	12,931	30,217
Deferred tax asset, net	15,866	17,503
Other assets	48,864	25,880
Total assets	541,594	603,189
Liabilities and equity
Accounts payable	16,112	25,044
Accrued expenses and other liabilities	33,280	40,554
Senior notes, net	295,124	304,832
Total liabilities	344,516	370,430
Commitments and contingencies (Note 11)
Stockholders' equity:
Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares outstanding	0	0
Common stock, $0.01 par value, 500,000,000 shares authorized, 18,231,954 and 20,096,969, shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively	182	201
Additional paid-in capital	190,969	193,862
Retained earnings	5,815	38,584
Total stockholders' equity	196,966	232,647
Non-controlling interest in subsidiary	112	112
Total equity	197,078	232,759
Total liabilities and equity	$ 541,594	$ 603,189

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	18,231,954	20,096,969
Common stock, shares outstanding (in shares)	18,231,954	20,096,969

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Revenues	$ 98,960		$ 162,749	$ 230,993	$ 281,597
Cost of Sales:
Cost of Sales	106,211		145,295	226,577	251,132
Impairments	19,000		0	19,000	0
Gross Margin:
Gross margin	(7,251)		17,454	4,416	30,465
Selling and marketing expenses	(6,386)		(9,683)	(13,852)	(18,362)
General and administrative expenses	(6,892)		(5,841)	(12,915)	(13,232)
Equity in net income (loss) of unconsolidated joint ventures	(19,962)		185	(21,899)	369
Interest expense	(1,271)		0	(1,989)	0
Project abandonment costs	(94)	$ (14,000)	(14)	(14,130)	(19)
Gain on early extinguishment of debt	702		552	579	969
Other income (expense), net	(68)		(88)	155	(276)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	(41,222)		2,565	(59,635)	(86)
(Provision) benefit for income taxes	16,929		(974)	26,866	(310)
Net income (loss)	(24,293)		1,591	(32,769)	(396)
Net income attributable to non-controlling interest	0		(19)	0	(19)
Net income (loss) attributable to The New Home Company Inc.	$ (24,293)		$ 1,572	$ (32,769)	$ (415)
Earnings (loss) per share attributable to The New Home Company Inc.:
Basic (in dollars per share)	$ (1.32)		$ 0.08	$ (1.71)	$ (0.02)
Diluted (in dollars per share)	$ (1.32)		$ 0.08	$ (1.71)	$ (0.02)
Weighted average shares outstanding:
Basic (in shares)	18,341,549		20,070,914	19,146,687	20,028,600
Diluted (in shares)	18,341,549		20,095,533	19,146,687	20,028,600
Home Building [Member]
Revenues:
Revenues	$ 77,757		$ 140,464	$ 173,416	$ 239,650
Cost of Sales:
Cost of Sales	66,216		123,525	150,938	210,094
Impairments	19,000		0	19,000	0
Gross Margin:
Gross margin	(7,459)		16,939	3,478	29,556
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	(41,430)		2,050	(60,573)	(995)
Land [Member]
Revenues:
Revenues	10		0	157	0
Cost of Sales:
Cost of Sales	10		0	157	0
Gross Margin:
Gross margin	0		0	0	0
Construction [Member]
Revenues:
Revenues	21,193		22,285	57,420	41,947
Cost of Sales:
Cost of Sales	20,985		21,770	56,482	41,038
Gross Margin:
Gross margin	208		515	938	909
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ 208		$ 515	$ 938	$ 909

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2018	20,058,904
Balance at Dec. 31, 2018	$ 201	$ 193,132	$ 46,621	$ 239,954	$ 76	$ 240,030
Net loss	0	0	(415)	(415)	19	(396)
Stock-based compensation expense	$ 0	1,089	0	1,089	0	1,089
Shares issued through stock plans (in shares)	277,401
Shares issued through stock plans	$ 2	(2)	0	0	0	0
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans (in shares)	(85,420)
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans	$ 0	(488)	0	(488)	0	$ (488)
Repurchase of common stock (in shares)	(153,916)					(153,916)
Repurchase of common stock	$ (2)	(1,040)	0	(1,042)	0	$ (1,042)
Balance (in shares) at Jun. 30, 2019	20,096,969
Balance at Jun. 30, 2019	$ 201	192,691	46,206	239,098	95	239,193
Balance (in shares) at Mar. 31, 2019	20,049,113
Balance at Mar. 31, 2019	$ 200	192,169	44,634	237,003	76	237,079
Net loss	0	0	1,572	1,572	19	1,591
Stock-based compensation expense	$ 0	523	0	523	0	523
Shares issued through stock plans (in shares)	47,856
Shares issued through stock plans	$ 1	(1)	0	0	0	0
Balance (in shares) at Jun. 30, 2019	20,096,969
Balance at Jun. 30, 2019	$ 201	192,691	46,206	239,098	95	$ 239,193
Balance (in shares) at Dec. 31, 2019	20,096,969					20,096,969
Balance at Dec. 31, 2019	$ 201	193,862	38,584	232,647	112	$ 232,759
Net loss	0	0	(32,769)	(32,769)	0	(32,769)
Stock-based compensation expense	$ 0	1,110	0	1,110	0	1,110
Shares issued through stock plans (in shares)	244,812
Shares issued through stock plans	$ 2	(2)	0	0	0	0
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans (in shares)	(58,644)
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans	$ 0	(304)	0	(304)	0	$ (304)
Repurchase of common stock (in shares)	(2,051,183)					(2,051,183)
Repurchase of common stock	$ (21)	(3,697)	0	(3,718)	0	$ (3,718)
Balance (in shares) at Jun. 30, 2020	18,231,954					18,231,954
Balance at Jun. 30, 2020	$ 182	190,969	5,815	196,966	112	$ 197,078
Balance (in shares) at Mar. 31, 2020	18,957,165
Balance at Mar. 31, 2020	$ 190	191,926	30,108	222,224	112	222,336
Net loss	0	0	(24,293)	(24,293)	0	(24,293)
Stock-based compensation expense	$ 0	521	0	521	0	521
Shares issued through stock plans (in shares)	92,635
Shares issued through stock plans	$ 1	(1)	0	0	0	0
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans (in shares)	(546)
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans	$ 0	(1)	0	(1)	0	$ (1)
Repurchase of common stock (in shares)	(817,300)					(817,300)
Repurchase of common stock	$ (9)	(1,476)	0	(1,485)	0	$ (1,485)
Balance (in shares) at Jun. 30, 2020	18,231,954					18,231,954
Balance at Jun. 30, 2020	$ 182	$ 190,969	$ 5,815	$ 196,966	$ 112	$ 197,078

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities:
Net loss	$ (32,769,000)	$ (396,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Deferred taxes	1,637,000	0
Amortization of stock-based compensation	1,110,000	1,089,000
Distributions of earnings from unconsolidated joint ventures	0	279,000
Inventory impairments	19,000,000	0
Project abandonment costs	14,130,000	19,000
Equity in net (income) loss of unconsolidated joint ventures	21,899,000	(369,000)
Depreciation and amortization	3,623,000	5,042,000
Gain on early extinguishment of debt	(579,000)	(969,000)
Net changes in operating assets and liabilities:
Contracts and accounts receivable	8,870,000	2,152,000
Due from affiliates	98,000	975,000
Real estate inventories	30,579,000	24,970,000
Other assets	(31,133,000)	(2,240,000)
Accounts payable	(8,932,000)	(12,762,000)
Accrued expenses and other liabilities	(5,510,000)	1,102,000
Net cash provided by operating activities	22,023,000	18,892,000
Investing activities:
Purchases of property and equipment	(143,000)	(8,000)
Contributions and advances to unconsolidated joint ventures	(3,847,000)	(4,120,000)
Distributions of capital and repayment of advances from unconsolidated joint ventures	2,370,000	4,928,000
Net cash (used in) provided by investing activities	(1,620,000)	800,000
Financing activities:
Borrowings from credit facility	0	40,000,000
Repayments of credit facility	0	(41,500,000)
Repurchases of senior notes	(9,825,000)	(10,856,000)
Proceeds from note payable	7,036,000	0
Repayment of note payable	(7,036,000)	0
Payment of debt issuance costs	(255,000)	0
Repurchases of common stock	(3,718,000)	(1,042,000)
Tax withholding paid on behalf of employees for stock awards	(304,000)	(488,000)
Net cash used in financing activities	(14,102,000)	(13,886,000)
Net increase in cash, cash equivalents and restricted cash	6,301,000	5,806,000
Cash, cash equivalents and restricted cash – beginning of period	79,431,000	42,542,000
Cash, cash equivalents and restricted cash – end of period	$ 85,732,000	$ 48,348,000

Note 1 - Organization and Summa

Note 1 - Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	1. Organization The New Home Company Inc. (the "Company"), a Delaware corporation, and its subsidiaries are primarily engaged in all aspects of residential real estate development, including acquiring land and designing, constructing and selling homes in California and Arizona. Based on our public float of $58.9 million at June 28, 2019, Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts have been eliminated upon consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10 X 10 December 31, 2019 not 19" Unless the context otherwise requires, the terms "we", "us", "our" and "the Company" refer to the Company and its wholly owned subsidiaries, on a consolidated basis. Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying condensed consolidated financial statements and notes. Accordingly, actual results could differ materially from these estimates. Reclassifications No Segment Reporting ASC 280, Segment Reporting 280" 280, 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 Restricted Cash Restricted cash of $0.1 million and $0.1 million as of June 30, 2020 December 31, 2019 The table below shows the line items and amounts of cash and cash equivalents and restricted cash as reported within the Company's condensed consolidated balance sheets for each period shown that sum to the total of the same such amounts at the end of the periods shown in the accompanying condensed consolidated statements of cash flows. Six Months Ended June 30, 2020 2019 (Dollars in thousands) Cash and cash equivalents $ 85,588 $ 48,224 Restricted cash 144 124 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 85,732 $ 48,348 Real Estate Inventories and Cost of Sales We capitalize pre-acquisition, land, development and other allocated costs, including interest, property taxes and indirect construction costs. Pre-acquisition costs, including nonrefundable land deposits, are expensed to project abandonment costs if we determine continuation of the prospective project is not Land, development and other common costs are typically allocated to real estate inventories using a methodology that approximates the relative-sales-value method. Home construction costs per production phase are recorded using the specific identification method. Cost of sales for homes closed includes the estimated total construction costs of each home at completion and an allocation of all applicable land acquisition, land development and related common costs (both incurred and estimated to be incurred) based upon the relative-sales-value of the home within each project. Changes in estimated development and common costs are allocated prospectively to remaining homes in the project. In accordance with ASC 360, Property, Plant and Equipment 360" not not If there are indicators of impairment, we perform a detailed budget and cash flow review of the applicable real estate inventories to determine whether the estimated future undiscounted cash flows of the project are more or less than the asset’s carrying value. If the estimated future undiscounted cash flows exceed the asset’s carrying value, no 820, Fair Value Measurements and Disclosures 820" When estimating undiscounted future cash flows of a project, we make various assumptions, including: (i) expected sales prices and sales incentives to be offered, including the number of homes available, pricing and incentives being offered by us or other builders in other projects, and future sales price adjustments based on market and economic trends; (ii) expected sales pace and cancellation rates based on local housing market conditions, competition and historical trends; (iii) costs expended to date and expected to be incurred including, but not may Many assumptions are interdependent and a change in one may may If a real estate asset is deemed impaired, the impairment is calculated by determining the amount the asset's carrying value exceeds its fair value in accordance with ASC 820. not o three six June 30, 2020, 4. No three six June 30, 2019. pense and accrue any additional costs that we are contractually obligated to incur. For the three six June 30, 2020 2019 on, $14,000 and $19,000 in project abandonment costs were incurred, respectively. Capitalization of Interest We follow the practice of capitalizing interest to real estate inventories during the period of development and to investments in unconsolidated joint ventures, when applicable, in accordance with ASC 835, Interest 835" third third 835, Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers 606" 606, five 606: Home Sales and Profit Recognition In accordance with ASC 606, not Land Sales and Profit Recognition In accordance with ASC 606, may may not Fee Building The Company enters into fee building agreements to provide services whereby it builds homes on behalf of third third third third 606, The Company also provides construction management and coordination services and sales and marketing services as part of agreements with third 606. may 606. The Company’s fee bui lding revenues have historically been concentrated with a small number of customers. For the three six June 30, 2020 2019 , one and 93%, respectively, of fee building revenue. The balance of the fee building revenues primarily represented management fees earned from unconsolidated joint ventures and third June 30, 2020 and December 31, 2019 , one and 65% g escrow receivables from home sales. Variable Interest Entities The Company accounts for variable interest entities in accordance with ASC 810, Consolidation 810" 810, not not not not Once we consider the sufficiency of equity and voting rights of each legal entity, we then evaluate the characteristics of the equity holders' interests, as a group, to see if they qualify as controlling financial interests. Our real estate joint ventures consist of limited partnerships and limited liability companies. For entities structured as limited partnerships or limited liability companies, our evaluation of whether the equity holders (equity partners other than us in each our joint ventures) lack the characteristics of a controlling financial interest includes the evaluation of whether the limited partners or non-managing members (the non-controlling equity holders) lack both substantive participating rights and substantive kick-out rights, defined as follows: • Participating rights - provide the non-controlling equity holders the ability to direct significant financial and operational decision made in the ordinary course of business that most significantly influence the entity's economic performance. • Kick-out rights - allow the non-controlling equity holders to remove the general partner or managing member without cause. If we conclude that any of the three If an entity is deemed to be a VIE pursuant to ASC 810, Under ASC 810, may not may not may June 30, 2020 posits o million pertaining to land option contracts and purchase contracts. As of June 30, 2020 December 31, 2019 not 810, Non-controlling Interest During 2013, third 810, not June 30, 2020 December 31, 2019 third Investments in and Advances to Unconsolidated Joint Ventures We use the equity method to account for investments in homebuilding and land development joint ventures when any of the following situations exist: 1 not 2 not 3 As of June 30, 2020 none Under the equity method, we recognize our proportionate share of earnings and losses generated by the joint venture upon the delivery of lots or homes to third third 230, Statement of Cash Flows 230" We review real estate inventory held by our unconsolidated joint ventures for impairment on a quarterly basis, consistent with how we review our real estate inventories as described in more detail above in the section entitled "Real Estate Inventories and Cost of Sales." We also review our investments in and advances to unconsolidated joint ventures for evidence of other-than-temporary declines in value. To the extent we deem any declines in value of our investment in and advances to unconsolidated joint ventures to be other-than-temporary, we impair our investment accordingly. For the three six June 30, 2020 2019 arges of $20.0 million , $22.3 million, Selling and Marketing Expense Costs incurred for tangible assets directly used in the sales process such as our sales offices, design studios and model landscaping and furnishings are capitalized to other assets in the accompanying condensed consolidated balance sheets under ASC 340, Other Assets and Deferred Costs 340" Warranty and Litigation Accruals We offer warranties on our homes that generally cover various defects in workmanship or materials, or structural construction defects for one two third While our subcontractors who perform our homebuilding work generally provide us with an indemnity for claims relating to their workmanship and materials, we also purchase general liability insurance that covers development and construction activity at each of our communities. Our subcontractors are usually covered by these programs through an owner-controlled insurance program, or "OCIP." Consultants such as engineers and architects are generally not not Contracts and Accounts Receivable Contracts and accounts receivable primarily represent the fees earned, but not not not June 30, 2020 December 31, 2019 no Property, Equipment and Capitalized Selling and Marketing Costs Property, equipment and capitalized selling and marketing costs are recorded at cost and included in other assets in the accompanying condensed consolidated balance sheets. Property and equipment are depreciated to general and administrative expenses using the straight-line method over their estimated useful lives ranging from three five Income Taxes Income taxes are accounted for in accordance with ASC 740, Income Taxes 740" Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than not 50% 740. not June 30, 2020 December 31, 2019 ASC 740 not, not June 30, 2020 The Company classifies any interest and penalties related to income taxes assessed as part of income tax expense. As of June 30, 2020 not Stock-Based Compensation We account for share-based awards in accordance with ASC 718, Compensation – Stock Compensation 718" 718 718 2018, 718 one 2019 first 718. Share Repurchase and Retirement When shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired to both retained earnings and additional paid-in capital. The portion allocated to additional paid-in capital is determined by applying a percentage, which is determined by dividing the number of shares to be retired by the number of shares issued, to the balance of additional paid-in capital as of the retirement date. The residual, if any, is allocated to retained earnings as of the retirement date. During the three six June 30, 2020, rice of $1.5 million and $3.7 million, respectively. During the six June 30, 2019, June 30, 2020. March 20, 2020 May 11, 2020 10b5 1 Tax Benefit Preservation Plan On May 8, 2020, 4.95%. one May 20, 2020. one 4.95% two $11.50 one May 7, 2021, ( 382 1986, no no 382 382 not Dividends No dividends were paid on our common stock during the three six June 30, 2020 2019 not not Recently Issued Accounting Standards The Company's status as an "emerging growth company" pursuant to the provisions of the Jumpstart Our Business Startups Act of 2012 December 31, 2019. 102 7 2 1933, In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13" 2019 04, Codification Improvements to Topic 326, 815, 825, April 2019, 2019 05, Financial Instruments - Credit Losses (Topic 326 May 2019, 2019 11, Codification Improvements to Topic 326, November 2019, 2020 02, Financial Instruments - Credit Losses (Topic 326 842 February 2020 January 1, 2020, November 2019, 2019 10, Financial Instruments - Credit Losses (Topic 326 815 842 December 15, 2022, not 2016 13 January 1, 2020, not . In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13" 2018 13 2018 13 2020 first no In December 2019, 2019 12, Income Taxes (Topic 740 Simplifying the Accounting for Income Taxes 2019 12" December 15, 2020, 2019 12. In January 2020, 2020 01, Investments - Equity Securities (Topic 321 323 815 2020 01" 2020 01 321 323 815. December 31, 2020, no

Note 2 - Computation of Earning

Note 2 - Computation of Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	2. The following table sets forth the components used in the computation of basic and diluted loss per share for the three six June 30, 2020 2019 Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands, except per share amounts) Numerator: Net income (loss) attributable to The New Home Company Inc. $ (24,293 ) $ 1,572 $ (32,769 ) $ (415 ) Denominator: Basic weighted-average shares outstanding 18,341,549 20,070,914 19,146,687 20,028,600 Effect of dilutive shares: Stock options and unvested restricted stock units — 24,619 — — Diluted weighted-average shares outstanding 18,341,549 20,095,533 19,146,687 20,028,600 Basic earnings (loss) per share attributable to The New Home Company Inc. $ (1.32 ) $ 0.08 $ (1.71 ) $ (0.02 ) Diluted earnings (loss) per share attributable to The New Home Company Inc. $ (1.32 ) $ 0.08 $ (1.71 ) $ (0.02 ) Antidilutive stock options and unvested restricted stock units not included in diluted earnings (loss) per share 1,897,100 1,349,106 1,841,463 1,292,726

Note 3 - Contracts and Accounts

Note 3 - Contracts and Accounts Receivable	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	3. Contracts and accounts receivable consist of the following: June 30, December 31, 2020 2019 (Dollars in thousands) Contracts receivable: Costs incurred on fee building projects $ 56,482 $ 93,281 Estimated earnings 938 2,052 57,420 95,333 Less: amounts collected during the period (53,642 ) (84,979 ) Contracts receivable $ 3,778 $ 10,354 Contracts receivable: Billed $ — $ — Unbilled 3,778 10,354 3,778 10,354 Accounts receivable: Escrow receivables 3,151 5,392 Other receivables 183 236 Contracts and accounts receivable $ 7,112 $ 15,982 Billed contracts receivable represent amounts billed to customers that have yet to be collected. Unbilled contracts receivable represents the contract revenue recognized but not June 30, 2020 30 June 30, 2020 December 31, 2019 des

Note 4 - Real Estate Inventorie

Note 4 - Real Estate Inventories	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Real Estate Disclosure [Text Block]	4. Real estate inventories are summarized as follows: June 30, December 31, 2020 2019 (Dollars in thousands) Deposits and pre-acquisition costs $ 14,142 $ 17,865 Land held and land under development 146,859 180,823 Homes completed or under construction 154,547 183,711 Model homes 55,401 51,539 $ 370,949 $ 433,938 All of our deposits and pre-acquisition costs are nonrefundable, except for refundable deposits o f June 30, 2020 December 31, 2019 Land held and land under development includes land costs and costs incurred during site development such as development, indirects, and permits. Homes completed or under construction and model homes include all costs associated with home construction, including allocated land, development, indirects, permits, materials and labor (except for capitalized selling and marketing costs, which are classified in other assets). In accordance with ASC 360, not three six June 30, 2020 $19.0 %-26% three six June 30, 2020 2019: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Inventory impairments: Home sales $ 19,000 $ — $ 19,000 $ — Total inventory impairments $ 19,000 $ — $ 19,000 $ — Remaining carrying value of inventory impaired at period end $ 79,033 $ — $ 79,033 $ — Number of projects impaired during the period 5 — 5 — Total number of projects subject to periodic impairment review during period (1) 27 25 27 27 ( 1 Represents the peak number of real estate projects that we had during each respective period. The number of projects outstanding at the end of each period may The $17.8 2020 second four During the 2020 first , the Company decided to abandon the future acquisition, development, construction and sale of future phases of the project that were under option. In accordance with ASC 970 360 40 1, not six June 30, 2020 , the Company recorded an abandonment charge of $14.0 million representing the capitalized costs that have accumulated related to the portion of the project that is being abandoned. This charge is included within project abandonment costs in the accompanying condensed consolidated statement of operations.

Note 5 - Capitalized Interest

Note 5 - Capitalized Interest	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Capitalized Interest [Text Block]	5. Interest is capitalized to inventory and investment in unconsolidated joint ventures during development and other qualifying activities. Interest capitalized as a cost of inventory is included in cost of sales as related homes and land parcels are closed. Interest capitalized to investment in unconsolidated joint ventures is amortized to equity in net income (loss) of unconsolidated joint ventures as related joint venture homes or lots close, or in instances where lots are sold from the unconsolidated joint venture to the Company, the interest is added to the land basis and included in cost of sales when the related lots or homes are sold to third not three six June 30, 2020 2019 Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Interest incurred $ 6,150 $ 7,606 $ 12,530 $ 15,367 Interest capitalized to inventory (4,879 ) (7,606 ) (10,541 ) (15,367 ) Interest expensed $ 1,271 $ — $ 1,989 $ — Capitalized interest in beginning inventory $ 25,152 $ 28,600 $ 26,397 $ 25,681 Interest capitalized as a cost of inventory 4,879 7,606 10,541 15,367 Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition — 3 — 13 Previously capitalized interest included in cost of home and land sales (4,601 ) (6,301 ) (10,747 ) (11,153 ) Previously capitalized interest included in project abandonment costs — — (761 ) — Capitalized interest in ending inventory $ 25,430 $ 29,908 $ 25,430 $ 29,908 Capitalized interest in beginning investment in unconsolidated joint ventures $ 93 $ 672 $ 541 $ 713 Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition — (3 ) — (13 ) Previously capitalized interest included in equity in net income (loss) of unconsolidated joint ventures (31 ) (48 ) (479 ) (79 ) Capitalized interest in ending investment in unconsolidated joint ventures 62 621 62 621 Total capitalized interest in ending inventory and investments in unconsolidated joint ventures $ 25,492 $ 30,529 $ 25,492 $ 30,529 Capitalized interest as a percentage of inventory 6.9 % 5.5 % 6.9 % 5.5 % Interest included in cost of home sales as a percentage of home sales revenue 6.0 % 4.4 % 6.2 % 4.7 % Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures 0.5 % 1.8 % 0.5 % 1.8 % For the six June 30, 2020 , the Company expensed $0.8 million in interest previously capitalized due to the abandonment of the future phases of one 4. For the six June 30, 2020 , the Company expensed $0.4 million in interest previously capitalized to investments in unconsolidated joint ventures as the result of an other-than-temporary impairment to its investment in one 6.

Note 6 - Investments in and Adv

Note 6 - Investments in and Advances to Unconsolidated Joint Ventures	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	6. As of June 30, 2020 December 31, 2019 35% June 30, December 31, 2020 2019 (Dollars in thousands) Cash and cash equivalents $ 28,375 $ 31,484 Restricted cash 13,250 13,852 Real estate inventories 221,972 241,416 Other assets 3,778 3,843 Total assets $ 267,375 $ 290,595 Accounts payable and accrued liabilities $ 11,100 $ 16,778 Notes payable 11,633 28,665 Total liabilities 22,733 45,443 The New Home Company's equity (1) 28,465 27,722 Other partners' equity 216,177 217,430 Total equity 244,642 245,152 Total liabilities and equity $ 267,375 $ 290,595 Debt-to-capitalization ratio 4.5 % 10.5 % Debt-to-equity ratio 4.8 % 11.7 % ( 1 Balance represents the Company's interest, as reflected in the financial records of the respective joint ventures. This balance differs from the investment in and advances to unconsolidated joint ventures balance reflected in the Company's consolidated balance sh eets by $15.5 million due to o The condensed combined statements of operations for our unconsolidated joint ventures accounted for under the equity method were as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Revenues $ 30,290 $ 59,078 $ 61,937 $ 101,365 Cost of sales and expenses 28,672 57,288 58,957 99,062 Net income of unconsolidated joint ventures $ 1,618 $ 1,790 $ 2,980 $ 2,303 Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations $ (19,962 ) $ 185 $ (21,899 ) $ 369 The Company reviews its investments in and advances to unconsolidated joint ventures for other-than-temporary declines in value . three six June 30, 2020 2019, 19 not $20.0 2020 second 1 one 2020 first 2020 third 30% As a smaller reporting company, the Company is subject to the provisions of Rule 8 03 3 X 20% three six June 30, 2020 one 20% six June 30, 2019, two 20% three three six June 30, 2020 2019 Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Revenues $ 26,198 $ 45,167 $ 45,746 $ 77,463 Cost of home and land sales 24,012 41,352 41,314 70,686 Gross margin $ 2,186 $ 3,815 $ 4,432 $ 6,777 Expenses 1,243 1,990 2,590 3,852 Net income $ 943 $ 1,825 $ 1,842 $ 2,925 Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations $ (19,926 ) $ 247 $ (19,718 ) $ 486 In the above table, the Company's net losses for the three six June 30, 2020 one For the three six June 30, 2020 2019 0.6 m 12.

Note 7 - Other Assets

Note 7 - Other Assets	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Other Assets Disclosure [Text Block]	7. Other assets consist of the following: June 30, December 31, 2020 2019 (Dollars in thousands) Capitalized selling and marketing costs, net (1) $ 6,758 $ 7,148 Prepaid income taxes (2) 29,328 1,032 Insurance receivable (3) 6,000 10,900 Warranty insurance receivable (4) 1,782 1,852 Prepaid expenses 2,448 2,729 Right-of-use lease assets 2,277 1,988 Other 271 231 $ 48,864 $ 25,880 ( 1 Capitalized selling and marketing costs includes costs incurred for tangible assets directly used in the sales process such as our sales offices, design studios and model furnishings, and also includes model landscaping costs, which wer e $2.5 million and $2.6 million as of June 30, 2020 and December 31, 2019 ted $1.7 million, $3.5 million million and $4.9 million of capitalized selling and marketing costs to selling and marketing expenses during the three six June 30, 2020 2019 ( 2 The amount at June 30, 2020 y $28.4 million March 27, 2020 2018 2020 five ( 3 At December 31, 2019, ompany recorded insurance receivables of $10.9 million in connection with $10.9 million of litigation reserves recorded. During the six June 30, 2020 , $4.7 million was paid by insurance related to two one June 30, 2020 , with a corresponding decrease recorded within litigation reserves. For more information, please refer to Note 8. ( 4 During the three six June 30, 2020 ble upward by $0.2 million and $0.3 million, respectively, to true- three six June 30, 2019, $0.6

Note 8 - Accrued Expenses and O

Note 8 - Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Accrued Expenses and Other Liabilities [Text Block]	8. Accrued expenses and other liabilities consist of the following: June 30, December 31, 2020 2019 (Dollars in thousands) Warranty accrual (1) $ 6,740 $ 7,223 Litigation reserves (2) 6,000 10,900 Accrued interest 5,605 5,796 Accrued compensation and benefits 4,216 5,350 Completion reserve 964 3,167 Customer deposits 3,608 3,574 Lease liabilities 2,434 2,243 Other accrued expenses 3,713 2,301 $ 33,280 $ 40,554 ( 1 Included in the amount at June 30, 2020 December 31, 2019 y $1.8 million ( 2 During 2019, orded litigation reserves totaling $5.9 million related to ordinary course litigation which developed and became probable and estimable within the 2019 fourth December 31, 2019. $5.9 $5.0 December 31, 2019. six June 30, 2020 , $4.7 million was paid by insurance related to two one June 30, 2020 , with a corresponding decrease recorded within insurance receivables. Please refer to Note 7. We maintain general liability insurance designed to protect us against a portion of our risk of loss from construction-related warranty and construction defect claims. Our master general liability policies which cover most of our projects allow for our warranty spend to erode our self-insured retention requirements. We establish and track separately our warranty accrual and litigation reserves for both known and IBNR construction defect claims. Our warranty accrual and litigation reserves for construction defect claims are presented on a gross basis within accrued expenses and other liabilities in the accompanying condensed consolidated financial statements without consideration of insurance recoveries. Expected recoveries from insurance carriers are tracked separately between warranty insurance receivables and insurance receivables related to litigated claims and are presented within other assets in the accompanying condensed consolidated financial statements. Our warranty accrual and related estimated insurance recoveries are based on historical warranty claim and expense data, and expected recoveries from insurance carriers are recorded based on actual insurance claims and amounts determined using our warranty accrual estimates, our insurance policy coverage limits for the applicable policy years and historical recovery rates. Our litigation reserves for both known and IBNR future construction defect claims based on historical claim and expense data, and expected recoveries from insurance carriers are recorded based on actual insurance claims and amounts determined using our construction defect claim accrual estimates, our insurance policy coverage limits for the applicable policy years and historical recovery rates. Because of the inherent uncertainty and variability in these assumptions, our actual costs and related insurance recoveries could differ significantly from amounts currently estimated. Changes in our warranty accrual are detailed in the table set forth below: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Beginning warranty accrual for homebuilding projects $ 6,836 $ 6,767 $ 7,195 $ 6,681 Warranty provision for homebuilding projects 357 627 778 1,054 Warranty payments for homebuilding projects (481 ) (581 ) (1,261 ) (922 ) Adjustment to warranty accrual(1) — 94 — 94 Ending warranty accrual for homebuilding projects 6,712 6,907 6,712 6,907 Beginning warranty accrual for fee building projects 28 178 28 217 Warranty provision for fee building projects — — — 9 Warranty efforts for fee building projects — (18 ) — (66 ) Adjustment to warranty accrual for fee building projects(1) — (18 ) — (18 ) Ending warranty accrual for fee building projects 28 142 28 142 Total ending warranty accrual $ 6,740 $ 7,049 $ 6,740 $ 7,049 (1) During the 2019 second quarter, we recorded an adjustment of $0.1 million to our warranty accrual for homebuilding projects due to higher expected warranty expenditures which is included in "Adjustment to warranty accrual" above and resulted in an increase of the same amount to cost of home sales in the accompanying condensed consolidated statement of operations. Also during the 2019 second quarter, the Company recorded an adjustment of $18,000 due to lower experience rate of expected warranty expenditures for fee building projects which is included in "Adjustment to warranty accrual for fee building projects" above and resulted in a reduction of the same amount to cost of fee building sales in the accompanying condensed consolidated statement of operations.

Note 9 - Senior Notes and Unsec

Note 9 - Senior Notes and Unsecured Revolving Credit Facility	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	9. Indebtedness consisted of the following: June 30, December 31, 2020 2019 (Dollars in thousands) 7.25 $ 295,124 $ 304,832 Unsecured revolving credit facility — — Total Indebtedness $ 295,124 $ 304,832 On March 17, 2017, 2022 May 4, 2017, 2022 March 17, 2017, April 1 October 1. The carrying amount of our Senior Notes listed above at June 30, 2020 illion, each of which are amortized and capitalized to interest costs on a straight-line basis over the respective terms of the notes which approximates the effective interest method. The carrying amount for the Senior Notes list December 31, 2019 The Notes are general senior unsecured obligations that rank equally in right of payment to all existing and future senior indebtedness, including borrowings under the Company's senior unsecured revolving credit facility. The Notes contain certain restrictive covenants, including a limitation on additional indebtedness and a limitation on restricted payments. Restricted payments include, among other things, dividends, investments in unconsolidated entities, and stock repurchases. Under the limitation on additional indebtedness, we are permitted to incur specified categories of indebtedness but are prohibited, aside from those exceptions, from incurring further indebtedness if we do not not January 1, 2017 100% 17 During the three June 30, 2020, six June 30, 2020 three six June 30, 2020, three June 30, 2019, six June 30, 2019 three six June 30, 2019, $0.6 The Company has an unsecured revolving credit facility ("Credit Facility") with a bank group. On June 26, 2020, September 30, 2021, ( 50% March 31, 2020 50% March 31, 2020, ( $10 65% 60%, $10 Net Leverage Ratio Maximum Repurchases per Quarter Greater than 55% None permitted Less than or equal to 55% $5,000,000 Less than or equal to 50% $10,000,000 Less than or equal to 45% No As of June 30, 2020 ad no 1 June 30, 2020 was 5.00%. Pu not not 12 June 30, 2020 The Credit Facility, as amended by the Modification, also provides a $10.0 million sublimit for letters of credit, subject to conditions set forth in the agreement. As of June 30, 2020 and December 31, 2019 , the Company did not $0.5 mil June 30, 2020 On April 15, 2020, April 23, 2020, April 24, 2020,

Note 10 - Fair Value Disclosure

Note 10 - Fair Value Disclosures	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	10. ASC 820 three • Level 1 • Level 2 • Level 3 one Fair Value of Financial Instruments The following table presents an estimated fair value of the Company's Notes and Credit Facility. The Notes are classified as Level 2 3 June 30, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value (Dollars in thousands) 7.25 (1) $ 295,124 $ 274,458 $ 304,832 $ 298,775 Unsecured revolving credit facility $ — $ — $ — $ — ( 1 The carrying value for the Senior Notes, as presented at June 30, 2020 , is net of the unamortized $0.8 $0.6 $2.2 December 31, 2019 ized premium and debt issuance costs are not The Company considers the carrying value of cash and cash equivalents, restricted cash, contracts and accounts receivable, accounts payable, and accrued expenses and other liabilities to approximate the fair value of these financial instruments based on the short duration between origination of the instruments and their expected realization. The fair value of amounts due from affiliates is not Non-Recurring Fair Value Adjustments Nonfinancial assets and liabilities include items such as real estate inventory and long-lived assets that are measured at cost when acquired and adjusted for impairment to fair value, if deemed necessary. For the three six June 30, 2020, illion related to five 3 as $79.0 mil lion. For more information on real estate impairments, please refer to Note 4. For the three six June 30, 2020 2019 illion, $0 and $0, respectively. The 2020 second 2020 first rrent carrying value. This transaction is expected to close during the 2020 third 2020 2 3 . For more information on the investment in unconsolidated joint ventures impairments, please refer to Note 6.

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	11. From time-to-time, the Company is involved in various legal matters arising in the ordinary course of business. These claims and legal proceedings are of a nature that we believe are normal and incidental to a homebuilder. We make provisions for loss contingencies when they are probable and the amount of the loss can be reasonably estimated. Such provisions are assessed at least quarterly and adjusted to reflect the impact of any settlement negotiations, judicial and administrative rulings, advice of legal counsel, and other information and events pertaining to a particular case. During 2019, 2019 fourth December 31, 2019. $5.9 $5.0 December 31, 2019 . During the six June 30, 2020 , $4.7 million was paid by insurance related to two one June 30, 2020 . Due to the inherent uncertainty and judgement used in these assumptions, our actual costs and related insurance recoveries could differ significantly from amounts currently estimated. Please refer to Note 1, 7 8 As an owner and developer of real estate, the Company is subject to various environmental laws of federal, state and local governments. The Company is not The Company has provided credit enhancements in connection with joint venture borrowings in the form of loan-to-value ("LTV") maintenance agreements in order to secure the joint venture's performance under the loans and maintenance of certain LTV ratios. The Company has also entered into agreements with its partners in each of the unconsolidated joint ventures whereby the Company and its partners are apportioned liability under the LTV maintenance agreements according to their respective capital interest. In addition, the agreements provide the Company, to the extent its partner has an unpaid liability under such credit enhancements, the right to receive distributions from the unconsolidated joint venture that would otherwise be made to the partner. However, there is no June 30, 2020 December 31, 2019 , $11.6 million and $28.6 million, respectively, was outstanding under loans that are credit enhanced by the Company through LTV maintenance agreements. Under the terms of the joint venture agreements, the Company's proportionate share of LTV maintenance agreement liabilities was $2.6 million and $5.8 million, respectively, as of June 30, 2020 and December 31, 2019 . In addition, the Company has provided completion agreements regarding specific performance for certain projects whereby the Company is required to complete the given project with funds provided by the beneficiary of the agreement. If there are not no We obtain surety bonds in the normal course of business to ensure completion of certain infrastructure improvements of our projects. As of June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 third not The Company accounts for contracts deemed to contain a lease under ASC 842, Leases one not llion, re June 30, 2020 For the three six June 30, 2020 2019 one Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Lease cost: Lease costs included in general and administrative expenses $ 314 $ 265 $ 625 $ 620 Lease costs included in real estate inventories 111 207 208 369 Lease costs included in selling and marketing expenses 59 17 98 34 Net lease cost (1) $ 484 $ 489 $ 931 $ 1,023 Other Information: Lease cash flows (included in operating cash flows) (1) $ 518 $ 563 $ 1,016 $ 1,053 ( 1 Does not one imately on, $0.2 million and $0.5 million for three six June 30, 2020 2019, one $49,000 and $98,000 three six June 30, 2020 2019 Future lease payments under our operating leases are as follows (dollars in thousands): Remaining for 2020 $ 885 2021 852 2022 230 2023 220 2024 210 Thereafter 124 Total lease payments (1) $ 2,521 Less: Interest (2) 87 Present value of lease liabilities (3) $ 2,434 ( 1 Lease payments include options to extend lease terms that are reasonably certain of being exercised. ( 2 Our leases do not ( 3 The weighted average remaining lease term and weighted average incremental borrowing rate used in calculating our lease liabilities were 3.0 y and 4.7 % , June 30, 2020

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	12. During the three six June 30, 2020 2019 ntures totali June 30, 2020 and December 31, 2019 million and $0.2 million, respectively, are included in due from affiliates in the accompanying condensed consolidated balance sheets related to suc The Company has entered into agreements with its unconsolidated joint ventures to provide management services related to the underlying projects (collectively referred to as the "Management Agreements"). Pursuant to the Management Agreements, the Company receives a management fee based on each project’s revenues. During the three six June 30, 2020 2019 , the Company earne llion, $0.6 million and $1.2 million, respectively, in management fees, which have been recorded as fee building revenues in the accompanying condensed consolidated statements of operations. As of June 30, 2020 and December 31, 2019 , , respectively, of management fees are included in due from affiliates in the accompanying condensed consolidated balance sheets. One member of the Company's board of directors beneficially owns more than 10% of the Company's outstanding common stock through an affiliated entity, IHP Capital Partners VI, LLC ("IHP"), and is also affiliated with entities that have investments in two two s wa mil June 30, 2020 December 31, 2019 During the 2019 second second second second 1 none 1 second 1 1 6, TL Fab LP, an affiliate of one three six June 30, 2020 2019 , the Company incurre $22,00 0 none June 30, 2020 December 31, 2019. In its ordinary course of business, the Company enters into agreements to purchase lots from unconsolidated land development joint ventures of which it is a member. In accordance with ASC 360 20, third June 30, 2020 December 31, 2019 $0.2 mi The Company’s land purchase agreement with the Cannery provides for reimbursements of certain fee credits. The Company was reimbursed $ e Cannery during the three six June 30, 2020 and was not three six June 30, 2019. June 30, 2020 and December 31, 2019 , $0 an d $15,000, respectively, in fee credits was due to the Company from the Cannery, which is included in due from affiliates in the accompanying condensed consolidated balance sheets. On June 18, 2015, June 26, 2015 ( June 26, 2019 one June 26, 2020 one $1,000 June 30, 2020 no September 7, 2017, August 25, 1999 ( 2019 first three six June 30, 2019, three six June 30, 2019, three six June 30, 2019, June 30, 2020 December 31, 2019 On February 17, 2017, o three six June 30, 2020 2019 2016 2019 first August 2019 not On February 14, 2019, March 1, 2019. The agreement originally was set to expire on March 1, 2020 At June 30, 2020 , no fees were due to Mr. Redwitz for his consulting services. The Company entered into agreements during 2018 2017 one 2019 2020 2020. During 2017, not three six June 30, 2020 2019 June 30, 2020 i December 31, 2019, no 2017, $56.3 three six June 30, 2019. 2019 second third third third third 2019, June 30, 2020 third id (A) $0.2 million for fees and costs, (B) $3.0 million in option payments, and (C) $18.0 million for the purchase of lots directly from the IHP affiliate. During 2018, three six June 30, 2020 June 30, 2020, of December 31, 2019, no In the first 2018, 2018, June 30, 2020 2019 third three six June 30, 2020, not three six June 30, 2019. June 30, 2020 fourth 2018, second The Compan not six June 30, 2020 six June 30, 2019. June 30, 2020 g fees, and no deposit re The Company and its partner in the Bedford joint venture agreed in principle to a sale of the Company's interest in the joint venture to its partner during the 2020 first 2020 third During the six June 30, 2020, 2020 third % of the remaining lots from the joint venture. The Company has provided credit enhancements in connection with joint venture borrowings in the form of LTV maintenance agreements in order to secure the joint venture's performance under the loans and maintenance of certain LTV ratios. In addition, the Company has provided completion agreements regarding specific performance for certain projects whereby the Company is required to complete the given project with funds provided by the beneficiary of the agreement. For more information regarding these agreements please refer to Note 11.

Note 13 - Stock-based Compensat

Note 13 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	13. The Company's 2014 "2014 January 2014. 2014 2014 tenth The number of shares of our common stock authorized to be issued under the 2014 2014 not 2014 At our 2016 May 24, 2016, 2016 "2016 2016 2016 May 22, 2018, 2016 2016 April 4, 2028. The Company has issued stock option and restricted stock unit awards under the 2014 awards under the 2016 June 30, 2020 , 61,443 shares r emain available for grant under the 2014 d 414,737 sha 2016 may not one three ten A summary of the Company’s common stock option activity as of and for the six June 30, 2020 2019 Six Months Ended June 30, 2020 2019 Number of Shares Weighted-Average Exercise Price per Share Number of Shares Weighted-Average Exercise Price per Share Outstanding Stock Option Activity Outstanding, beginning of period 1,068,017 $ 9.78 821,470 $ 11.00 Granted 161,479 $ 5.36 249,283 $ 5.76 Exercised — $ — — $ — Forfeited — $ — (2,736 ) $ 11.00 Outstanding, end of period 1,229,496 $ 9.20 1,068,017 $ 9.78 Exercisable, end of period 901,829 $ 10.52 818,734 $ 11.00 A summary of the Company’s restricted stock unit activity as of and for the six June 30, 2020 2019 Six Months Ended June 30, 2020 2019 Number of Shares Weighted-Average Grant-Date Fair Value per Share Number of Shares Weighted-Average Grant-Date Fair Value per Share Restricted Stock Unit Activity Outstanding, beginning of period 592,116 $ 6.36 469,227 $ 10.75 Granted 358,869 $ 4.78 230,774 $ 5.28 Vested (244,812 ) $ 7.61 (277,401 ) $ 10.50 Forfeited (428 ) $ 11.68 (48,178 ) $ 10.91 Outstanding, end of period 705,745 $ 5.12 374,422 $ 7.54 A summary of the Company’s performance share unit activity as of and for the six June 30, 2020 2019 Six Months Ended June 30, 2020 2019 Number of Shares Weighted-Average Grant-Date Fair Value per Share Number of Shares Weighted-Average Grant-Date Fair Value per Share Performance Share Unit Activity Outstanding, beginning of period — $ — 125,422 $ 11.68 Granted (at target) — $ — — $ — Vested — $ — — $ — Forfeited — $ — (26,882 ) $ 11.68 Outstanding, end of period (at target) — $ — 98,540 $ 11.68 The expense related to the Company's stock-based compensation programs, included in general and administrative expense in the accompanying condensed consolidated statements of operations, was as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Expense related to: Stock options $ 81 $ 50 $ 145 $ 72 Restricted stock units and performance share units 440 473 965 1,017 $ 521 $ 523 $ 1,110 $ 1,089 The following table presents details of the assumptions used to calculate the weighted-average grant date fair value of common stock options granted by the Company in each year: Six Months Ended June 30, 2020 2019 Expected term (in years) 6.0 6.0 Expected volatility 41.8 % 39.9 % Risk-free interest rate 1.4 % 2.5 % Expected dividends — — Weighted-average grant date fair value per share $ 2.24 $ 2.43 We used the "simplified method" to establish the expected term of the common stock options granted by the Company. Our restricted stock unit awards and performance share unit awards are valued based on the closing price of our common stock on the date of grant. The number of performance share units that would vest ranged from 50%-150% of the target amount awarded based on actual cumulative earnings per share and return on equity growth from 2018 2019, 2018 2019 six June 30, 2019, December 31, 2019 not At June 30, 2020 , the 2023 may

Note 14 - Income Taxes

Note 14 - Income Taxes	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14. For the three six June 30, 2020, three six June 30, 2020 include the benefit associated with net operating loss carrybacks to years when the Company was subject to a 35% 2020 three June 30, 2020 March 27, 2020. six June 30, 2020 2020 first 4. 2018 2020 five three six June 30, 2020, $1.8 $3.9 21% 35% For the three six June 30, 2019, 2019 six June 30, 2019 The components of our deferred tax asset, net are as follows: June 30, December 31, 2020 2019 (Dollars in thousands) Net operating loss $ 8,080 $ 3,848 Reserves and accruals 2,637 2,563 Share based compensation 1,479 1,392 Inventory 4,278 3,536 Investments in joint ventures 392 7,080 Other 23 27 Capital loss 140 — Valuation allowance (140 ) — Depreciation and amortization (392 ) (393 ) Right of use asset (631 ) (550 ) Deferred tax asset, net $ 15,866 $ 17,503

Note 15 - Segment Information

Note 15 - Segment Information	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	15. The Company’s operations are organized into three reportable segments: two 280. Our homebuilding operations acquire and develop land and construct and sell single-family attached and detached homes and may third The reportable segments follow the same accounting policies as our consolidated financial statements described in Note 1. not Financial information relating to reportable segments was as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Homebuilding revenues: California home sales $ 71,597 $ 132,830 $ 154,877 $ 216,162 California land sales 10 — 157 — Arizona home sales 6,160 7,634 18,539 23,488 Total homebuilding revenues 77,767 140,464 173,573 239,650 Fee building revenues, including management fees 21,193 22,285 57,420 41,947 Total revenues $ 98,960 $ 162,749 $ 230,993 $ 281,597 Homebuilding pretax income (loss): California $ (38,238 ) $ 2,846 $ (42,689 ) $ 279 Arizona (3,192 ) (796 ) (17,884 ) (1,274 ) Total homebuilding pretax income (loss) (41,430 ) 2,050 (60,573 ) (995 ) Fee building pretax income, including management fees 208 515 938 909 Total pretax income (loss) $ (41,222 ) $ 2,565 $ (59,635 ) $ (86 ) June 30, December 31, 2020 2019 (Dollars in thousands) Homebuilding assets: California $ 379,199 $ 416,179 Arizona 64,690 82,234 Total homebuilding assets 443,889 498,413 Fee building assets 4,492 11,193 Corporate unallocated assets 93,213 93,583 Total assets $ 541,594 $ 603,189

Note 16 - Supplemental Disclosu

Note 16 - Supplemental Disclosure of Cash Flow Information	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	16. The following table presents certain supplemental cash flow information: Six Months Ended June 30, 2020 2019 (Dollars in thousands) Supplemental disclosures of cash flow information Interest paid, net of amounts capitalized $ 1,398 $ — Income taxes paid $ — $ 240

Note 17 - Supplemental Guaranto

Note 17 - Supplemental Guarantor Information	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Supplemental Guarantor Information [Text Block]	17. The Company's Notes are guaranteed, on an unsecured basis, jointly and severally, by all of the Company's 100% 1 no 2 3 not not no 4 5 not 6 may not SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS June 30, 2020 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Assets Cash and cash equivalents $ 39,871 $ 45,543 $ 174 $ — $ 85,588 Restricted cash — 144 — — 144 Contracts and accounts receivable 4 7,525 — (417 ) 7,112 Intercompany receivables 259,822 — — (259,822 ) — Due from affiliates 1 139 — — 140 Real estate inventories — 370,949 — — 370,949 Investment in and advances to unconsolidated joint ventures — 12,931 — — 12,931 Investment in subsidiaries 150,811 — — (150,811 ) — Deferred tax asset, net 15,237 629 — — 15,866 Other assets 37,820 11,017 27 — 48,864 Total assets $ 503,566 $ 448,877 $ 201 $ (411,050 ) $ 541,594 Liabilities and equity Accounts payable $ 127 $ 15,985 $ — $ — $ 16,112 Accrued expenses and other liabilities 11,349 22,318 26 (413 ) 33,280 Intercompany payables — 259,822 — (259,822 ) — Due to affiliates — 4 — (4 ) — Senior notes, net 295,124 — — — 295,124 Total liabilities 306,600 298,129 26 (260,239 ) 344,516 Total stockholders' equity 196,966 150,748 63 (150,811 ) 196,966 Non-controlling interest in subsidiary — — 112 — 112 Total equity 196,966 150,748 175 (150,811 ) 197,078 Total liabilities and equity $ 503,566 $ 448,877 $ 201 $ (411,050 ) $ 541,594 December 31, 2019 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Assets Cash and cash equivalents $ 66,166 $ 12,978 $ 170 $ — $ 79,314 Restricted cash — 117 — — 117 Contracts and accounts receivable 3 16,403 — (424 ) 15,982 Intercompany receivables 258,372 — — (258,372 ) — Due from affiliates — 238 — — 238 Real estate inventories — 433,938 — — 433,938 Investment in and advances to unconsolidated joint ventures — 30,217 — — 30,217 Investment in subsidiaries 198,448 — — (198,448 ) — Deferred tax asset, net 17,003 500 — — 17,503 Other assets 9,505 16,340 35 — 25,880 Total assets $ 549,497 $ 510,731 $ 205 $ (457,244 ) $ 603,189 Liabilities and equity Accounts payable $ 68 $ 24,973 $ 3 $ — $ 25,044 Accrued expenses and other liabilities 11,950 28,999 26 (421 ) 40,554 Intercompany payables — 258,372 — (258,372 ) — Due to affiliates — 3 — (3 ) — Senior notes, net 304,832 — — — 304,832 Total liabilities 316,850 312,347 29 (258,796 ) 370,430 Total stockholders' equity 232,647 198,384 64 (198,448 ) 232,647 Non-controlling interest in subsidiary — — 112 — 112 Total equity 232,647 198,384 176 (198,448 ) 232,759 Total liabilities and equity $ 549,497 $ 510,731 $ 205 $ (457,244 ) $ 603,189 SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended June 30, 2020 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 77,757 $ — $ — $ 77,757 Land sales — 10 — — 10 Fee building — 21,193 — — 21,193 — 98,960 — — 98,960 Cost of Sales: Home sales — 66,216 — — 66,216 Home sales impairments — 19,000 — — 19,000 Land sales — 10 — — 10 Fee building — 20,985 — — 20,985 — 106,211 — — 106,211 Gross Margin: Home sales — (7,459 ) — — (7,459 ) Land sales — — — — — Fee building — 208 — — 208 — (7,251 ) — — (7,251 ) Selling and marketing expenses — (6,386 ) — — (6,386 ) General and administrative expenses (960 ) (5,932 ) — — (6,892 ) Equity in net loss of unconsolidated joint ventures — (19,962 ) — — (19,962 ) Equity in net loss of subsidiaries (25,858 ) — — 25,858 — Interest expense — (1,271 ) — — (1,271 ) Project abandonment costs — (94 ) — — (94 ) Gain on early extinguishment of debt 702 — — — 702 Other income (expense), net (38 ) (30 ) — — (68 ) Pretax loss (26,154 ) (40,926 ) — 25,858 (41,222 ) Benefit for income taxes 1,861 15,068 — — 16,929 Net loss (24,293 ) (25,858 ) — 25,858 (24,293 ) Net loss attributable to non-controlling interest in subsidiary — — — — — Net loss attributable to The New Home Company Inc. $ (24,293 ) $ (25,858 ) $ — $ 25,858 $ (24,293 ) Three Months Ended June 30, 2019 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 140,464 $ — $ — $ 140,464 Fee building — 22,285 — — 22,285 — 162,749 — — 162,749 Cost of Sales: Home sales — 123,582 (57 ) — 123,525 Fee building — 21,770 — — 21,770 — 145,352 (57 ) — 145,295 Gross Margin: Home sales — 16,882 57 — 16,939 Fee building — 515 — — 515 — 17,397 57 — 17,454 Selling and marketing expenses — (9,683 ) — — (9,683 ) General and administrative expenses 617 (6,458 ) — — (5,841 ) Equity in net income of unconsolidated joint ventures — 185 — — 185 Equity in net income of subsidiaries 1,087 — — (1,087 ) — Project abandonment costs — (14 ) — — (14 ) Gain on early extinguishment of debt 552 — — — 552 Other income (expense), net (106 ) 18 — — (88 ) Pretax income 2,150 1,445 57 (1,087 ) 2,565 Provision for income taxes (578 ) (396 ) — — (974 ) Net income 1,572 1,049 57 (1,087 ) 1,591 Net income attributable to non-controlling interest in subsidiary — — (19 ) — (19 ) Net income attributable to The New Home Company Inc. $ 1,572 $ 1,049 $ 38 $ (1,087 ) $ 1,572 Six Months Ended June 30, 2020 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 173,416 $ — $ — $ 173,416 Land sales — 157 — — 157 Fee building — 57,420 — — 57,420 — 230,993 — — 230,993 Cost of Sales: Home sales — 150,938 — — 150,938 Home sales impairments — 19,000 — — 19,000 Land sales — 157 — — 157 Fee building — 56,482 — — 56,482 — 226,577 — — 226,577 Gross Margin: Home sales — 3,478 — — 3,478 Land sales — — — — — Fee building — 938 — — 938 — 4,416 — — 4,416 Selling and marketing expenses — (13,852 ) — — (13,852 ) General and administrative expenses (739 ) (12,176 ) — — (12,915 ) Equity in net loss of unconsolidated joint ventures — (21,899 ) — — (21,899 ) Equity in net loss of subsidiaries (36,388 ) — — 36,388 — Interest expense — (1,989 ) — — (1,989 ) Project abandonment costs — (14,130 ) — — (14,130 ) Gain on early extinguishment of debt 579 — — — 579 Other income (expense), net 155 — — — 155 Pretax loss (36,393 ) (59,630 ) — 36,388 (59,635 ) Benefit for income taxes 3,624 23,242 — — 26,866 Net loss (32,769 ) (36,388 ) — 36,388 (32,769 ) Net loss attributable to non-controlling interest in subsidiary — — — — — Net loss attributable to The New Home Company Inc. $ (32,769 ) $ (36,388 ) $ — $ 36,388 $ (32,769 ) Six Months Ended June 30, 2019 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 239,650 $ — $ — $ 239,650 Fee building — 41,947 — — 41,947 — 281,597 — — 281,597 Cost of Sales: Home sales — 210,151 (57 ) — 210,094 Fee building — 41,038 — — 41,038 — 251,189 (57 ) — 251,132 Gross Margin: Home sales — 29,499 57 — 29,556 Fee building — 909 — — 909 — 30,408 57 — 30,465 Selling and marketing expenses — (18,362 ) — — (18,362 ) General and administrative expenses 51 (13,283 ) — — (13,232 ) Equity in net income of unconsolidated joint ventures — 369 — — 369 Equity in net loss of subsidiaries (625 ) — — 625 — Project abandonment costs — (19 ) — — (19 ) Gain on early extinguishment of debt 969 — — — 969 Other income (expense), net (168 ) (108 ) — — (276 ) Pretax income (loss) 227 (995 ) 57 625 (86 ) (Provision) benefit for income taxes (642 ) 332 — — (310 ) Net income (loss) (415 ) (663 ) 57 625 (396 ) Net income attributable to non-controlling interest in subsidiary — — (19 ) — (19 ) Net income (loss) attributable to The New Home Company Inc. $ (415 ) $ (663 ) $ 38 $ 625 $ (415 ) SUPPLEMENTAL CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2020 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash (used in) provided by operating activities $ (23,225 ) $ 45,377 $ 4 $ (133 ) $ 22,023 Investing activities: Purchases of property and equipment (84 ) (59 ) — — (143 ) Contributions and advances to unconsolidated joint ventures — (3,847 ) — — (3,847 ) Contributions to subsidiaries from corporate (35,690 ) — — 35,690 — Distributions of capital from subsidiaries to corporate 46,806 — — (46,806 ) — Distributions of capital and repayment of advances from unconsolidated joint ventures — 2,370 — — 2,370 Net cash provided by (used in) investing activities $ 11,032 $ (1,536 ) $ — $ (11,116 ) $ (1,620 ) Financing activities: Repurchase of senior notes (9,825 ) — — — (9,825 ) Contributions to subsidiaries from corporate — 35,690 — (35,690 ) — Distributions to corporate from subsidiaries — (46,939 ) — 46,939 — Proceeds from note payable 7,036 — — — 7,036 Repayment of note payable (7,036 ) — — — (7,036 ) Payment of debt issuance costs (255 ) — — — (255 ) Repurchases of common stock (3,718 ) — — — (3,718 ) Tax withholding paid on behalf of employees for stock awards (304 ) — — — (304 ) Net cash used in financing activities $ (14,102 ) $ (11,249 ) $ — $ 11,249 $ (14,102 ) Net (decrease) increase in cash, cash equivalents and restricted cash (26,295 ) 32,592 4 — 6,301 Cash, cash equivalents and restricted cash – beginning of period 66,166 13,095 170 — 79,431 Cash, cash equivalents and restricted cash – end of period $ 39,871 $ 45,687 $ 174 $ — $ 85,732 Six Months Ended June 30, 2019 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash (used in) provided by operating activities $ (36,110 ) $ 54,970 $ 32 $ — $ 18,892 Investing activities: Purchases of property and equipment (1 ) (7 ) — — (8 ) Contributions and advances to unconsolidated joint ventures — (4,120 ) — — (4,120 ) Contributions to subsidiaries from corporate (66,575 ) — — 66,575 — Distributions of capital from subsidiaries to corporate 91,700 — — (91,700 ) — Distributions of capital and repayment of advances from unconsolidated joint ventures — 4,928 — — 4,928 Net cash provided by investing activities $ 25,124 $ 801 $ — $ (25,125 ) $ 800 Financing activities: Borrowings from credit facility 40,000 — — — 40,000 Repayments of credit facility (41,500 ) — — — (41,500 ) Repurchase of senior notes (10,856 ) — — — (10,856 ) Contributions to subsidiaries from corporate — 66,575 — (66,575 ) — Distributions to corporate from subsidiaries — (91,700 ) — 91,700 — Repurchases of common stock (1,042 ) — — — (1,042 ) Tax withholding paid on behalf of employees for stock awards (488 ) — — — (488 ) Net cash used in financing activities $ (13,886 ) $ (25,125 ) $ — $ 25,125 $ (13,886 ) Net (decrease) increase in cash, cash equivalents and restricted cash (24,872 ) 30,646 32 — 5,806 Cash, cash equivalents and restricted cash – beginning of period 28,877 13,518 147 — 42,542 Cash, cash equivalents and restricted cash – end of period $ 4,005 $ 44,164 $ 179 $ — $ 48,348

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts have been eliminated upon consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10 X 10 December 31, 2019 not 19" Unless the context otherwise requires, the terms "we", "us", "our" and "the Company" refer to the Company and its wholly owned subsidiaries, on a consolidated basis.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying condensed consolidated financial statements and notes. Accordingly, actual results could differ materially from these estimates.
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications No
Segment Reporting, Policy [Policy Text Block]	Segment Reporting ASC 280, Segment Reporting 280" 280,
Cash and Cash Equivalents, Unrestricted Cash and Cash Equivalents, Policy [Policy Text Block]	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
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash Restricted cash of $0.1 million and $0.1 million as of June 30, 2020 December 31, 2019 The table below shows the line items and amounts of cash and cash equivalents and restricted cash as reported within the Company's condensed consolidated balance sheets for each period shown that sum to the total of the same such amounts at the end of the periods shown in the accompanying condensed consolidated statements of cash flows. Six Months Ended June 30, 2020 2019 (Dollars in thousands) Cash and cash equivalents $ 85,588 $ 48,224 Restricted cash 144 124 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 85,732 $ 48,348
Inventory, Real Estate, Policy [Policy Text Block]	Real Estate Inventories and Cost of Sales We capitalize pre-acquisition, land, development and other allocated costs, including interest, property taxes and indirect construction costs. Pre-acquisition costs, including nonrefundable land deposits, are expensed to project abandonment costs if we determine continuation of the prospective project is not Land, development and other common costs are typically allocated to real estate inventories using a methodology that approximates the relative-sales-value method. Home construction costs per production phase are recorded using the specific identification method. Cost of sales for homes closed includes the estimated total construction costs of each home at completion and an allocation of all applicable land acquisition, land development and related common costs (both incurred and estimated to be incurred) based upon the relative-sales-value of the home within each project. Changes in estimated development and common costs are allocated prospectively to remaining homes in the project. In accordance with ASC 360, Property, Plant and Equipment 360" not not If there are indicators of impairment, we perform a detailed budget and cash flow review of the applicable real estate inventories to determine whether the estimated future undiscounted cash flows of the project are more or less than the asset’s carrying value. If the estimated future undiscounted cash flows exceed the asset’s carrying value, no 820, Fair Value Measurements and Disclosures 820" When estimating undiscounted future cash flows of a project, we make various assumptions, including: (i) expected sales prices and sales incentives to be offered, including the number of homes available, pricing and incentives being offered by us or other builders in other projects, and future sales price adjustments based on market and economic trends; (ii) expected sales pace and cancellation rates based on local housing market conditions, competition and historical trends; (iii) costs expended to date and expected to be incurred including, but not may Many assumptions are interdependent and a change in one may may If a real estate asset is deemed impaired, the impairment is calculated by determining the amount the asset's carrying value exceeds its fair value in accordance with ASC 820. not o three six June 30, 2020, 4. No three six June 30, 2019. pense and accrue any additional costs that we are contractually obligated to incur. For the three six June 30, 2020 2019 on, $14,000 and $19,000 in project abandonment costs were incurred, respectively.
Interest Capitalization, Policy [Policy Text Block]	Capitalization of Interest We follow the practice of capitalizing interest to real estate inventories during the period of development and to investments in unconsolidated joint ventures, when applicable, in accordance with ASC 835, Interest 835" third third 835,
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers 606" 606, five 606: Home Sales and Profit Recognition In accordance with ASC 606, not Land Sales and Profit Recognition In accordance with ASC 606, may may not Fee Building The Company enters into fee building agreements to provide services whereby it builds homes on behalf of third third third third 606, The Company also provides construction management and coordination services and sales and marketing services as part of agreements with third 606. may 606. The Company’s fee bui lding revenues have historically been concentrated with a small number of customers. For the three six June 30, 2020 2019 , one and 93%, respectively, of fee building revenue. The balance of the fee building revenues primarily represented management fees earned from unconsolidated joint ventures and third June 30, 2020 and December 31, 2019 , one and 65% g escrow receivables from home sales.
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	Variable Interest Entities The Company accounts for variable interest entities in accordance with ASC 810, Consolidation 810" 810, not not not not Once we consider the sufficiency of equity and voting rights of each legal entity, we then evaluate the characteristics of the equity holders' interests, as a group, to see if they qualify as controlling financial interests. Our real estate joint ventures consist of limited partnerships and limited liability companies. For entities structured as limited partnerships or limited liability companies, our evaluation of whether the equity holders (equity partners other than us in each our joint ventures) lack the characteristics of a controlling financial interest includes the evaluation of whether the limited partners or non-managing members (the non-controlling equity holders) lack both substantive participating rights and substantive kick-out rights, defined as follows: • Participating rights - provide the non-controlling equity holders the ability to direct significant financial and operational decision made in the ordinary course of business that most significantly influence the entity's economic performance. • Kick-out rights - allow the non-controlling equity holders to remove the general partner or managing member without cause. If we conclude that any of the three If an entity is deemed to be a VIE pursuant to ASC 810, Under ASC 810, may not may not may June 30, 2020 posits o million pertaining to land option contracts and purchase contracts. As of June 30, 2020 December 31, 2019 not 810,
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block]	Non-controlling Interest During 2013, third 810, not June 30, 2020 December 31, 2019 third
Equity Method Investments [Policy Text Block]	Investments in and Advances to Unconsolidated Joint Ventures We use the equity method to account for investments in homebuilding and land development joint ventures when any of the following situations exist: 1 not 2 not 3 As of June 30, 2020 none Under the equity method, we recognize our proportionate share of earnings and losses generated by the joint venture upon the delivery of lots or homes to third third 230, Statement of Cash Flows 230" We review real estate inventory held by our unconsolidated joint ventures for impairment on a quarterly basis, consistent with how we review our real estate inventories as described in more detail above in the section entitled "Real Estate Inventories and Cost of Sales." We also review our investments in and advances to unconsolidated joint ventures for evidence of other-than-temporary declines in value. To the extent we deem any declines in value of our investment in and advances to unconsolidated joint ventures to be other-than-temporary, we impair our investment accordingly. For the three six June 30, 2020 2019 arges of $20.0 million , $22.3 million,
Selling, General and Administrative Expenses, Policy [Policy Text Block]	Selling and Marketing Expense Costs incurred for tangible assets directly used in the sales process such as our sales offices, design studios and model landscaping and furnishings are capitalized to other assets in the accompanying condensed consolidated balance sheets under ASC 340, Other Assets and Deferred Costs 340"
Standard Product Warranty, Policy [Policy Text Block]	Warranty and Litigation Accruals We offer warranties on our homes that generally cover various defects in workmanship or materials, or structural construction defects for one two third While our subcontractors who perform our homebuilding work generally provide us with an indemnity for claims relating to their workmanship and materials, we also purchase general liability insurance that covers development and construction activity at each of our communities. Our subcontractors are usually covered by these programs through an owner-controlled insurance program, or "OCIP." Consultants such as engineers and architects are generally not not
Receivable [Policy Text Block]	Contracts and Accounts Receivable Contracts and accounts receivable primarily represent the fees earned, but not not not June 30, 2020 December 31, 2019 no
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Equipment and Capitalized Selling and Marketing Costs Property, equipment and capitalized selling and marketing costs are recorded at cost and included in other assets in the accompanying condensed consolidated balance sheets. Property and equipment are depreciated to general and administrative expenses using the straight-line method over their estimated useful lives ranging from three five
Income Tax, Policy [Policy Text Block]	Income Taxes Income taxes are accounted for in accordance with ASC 740, Income Taxes 740" Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than not 50% 740. not June 30, 2020 December 31, 2019 ASC 740 not, not June 30, 2020 The Company classifies any interest and penalties related to income taxes assessed as part of income tax expense. As of June 30, 2020 not
Share-based Payment Arrangement [Policy Text Block]	Stock-Based Compensation We account for share-based awards in accordance with ASC 718, Compensation – Stock Compensation 718" 718 718 2018, 718 one 2019 first 718.
Stockholders' Equity, Policy [Policy Text Block]	Share Repurchase and Retirement When shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired to both retained earnings and additional paid-in capital. The portion allocated to additional paid-in capital is determined by applying a percentage, which is determined by dividing the number of shares to be retired by the number of shares issued, to the balance of additional paid-in capital as of the retirement date. The residual, if any, is allocated to retained earnings as of the retirement date. During the three six June 30, 2020, rice of $1.5 million and $3.7 million, respectively. During the six June 30, 2019, June 30, 2020. March 20, 2020 May 11, 2020 10b5 1
Tax Benefit Preservation Plan [Policy Text Block]	Tax Benefit Preservation Plan On May 8, 2020, 4.95%. one May 20, 2020. one 4.95% two $11.50 one May 7, 2021, ( 382 1986, no no 382 382 not
Dividends, Policy [Policy Text Block]	Dividends No dividends were paid on our common stock during the three six June 30, 2020 2019 not not
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards The Company's status as an "emerging growth company" pursuant to the provisions of the Jumpstart Our Business Startups Act of 2012 December 31, 2019. 102 7 2 1933, In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13" 2019 04, Codification Improvements to Topic 326, 815, 825, April 2019, 2019 05, Financial Instruments - Credit Losses (Topic 326 May 2019, 2019 11, Codification Improvements to Topic 326, November 2019, 2020 02, Financial Instruments - Credit Losses (Topic 326 842 February 2020 January 1, 2020, November 2019, 2019 10, Financial Instruments - Credit Losses (Topic 326 815 842 December 15, 2022, not 2016 13 January 1, 2020, not . In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13" 2018 13 2018 13 2020 first no In December 2019, 2019 12, Income Taxes (Topic 740 Simplifying the Accounting for Income Taxes 2019 12" December 15, 2020, 2019 12. In January 2020, 2020 01, Investments - Equity Securities (Topic 321 323 815 2020 01" 2020 01 321 323 815. December 31, 2020, no

Note 1 - Organization and Sum_2

Note 1 - Organization and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	Six Months Ended June 30, 2020 2019 (Dollars in thousands) Cash and cash equivalents $ 85,588 $ 48,224 Restricted cash 144 124 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 85,732 $ 48,348

Note 2 - Computation of Earni_2

Note 2 - Computation of Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands, except per share amounts) Numerator: Net income (loss) attributable to The New Home Company Inc. $ (24,293 ) $ 1,572 $ (32,769 ) $ (415 ) Denominator: Basic weighted-average shares outstanding 18,341,549 20,070,914 19,146,687 20,028,600 Effect of dilutive shares: Stock options and unvested restricted stock units — 24,619 — — Diluted weighted-average shares outstanding 18,341,549 20,095,533 19,146,687 20,028,600 Basic earnings (loss) per share attributable to The New Home Company Inc. $ (1.32 ) $ 0.08 $ (1.71 ) $ (0.02 ) Diluted earnings (loss) per share attributable to The New Home Company Inc. $ (1.32 ) $ 0.08 $ (1.71 ) $ (0.02 ) Antidilutive stock options and unvested restricted stock units not included in diluted earnings (loss) per share 1,897,100 1,349,106 1,841,463 1,292,726

Note 3 - Contracts and Accoun_2

Note 3 - Contracts and Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, December 31, 2020 2019 (Dollars in thousands) Contracts receivable: Costs incurred on fee building projects $ 56,482 $ 93,281 Estimated earnings 938 2,052 57,420 95,333 Less: amounts collected during the period (53,642 ) (84,979 ) Contracts receivable $ 3,778 $ 10,354 Contracts receivable: Billed $ — $ — Unbilled 3,778 10,354 3,778 10,354 Accounts receivable: Escrow receivables 3,151 5,392 Other receivables 183 236 Contracts and accounts receivable $ 7,112 $ 15,982

Note 4 - Real Estate Inventor_2

Note 4 - Real Estate Inventories (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Inventory, Noncurrent [Table Text Block]	June 30, December 31, 2020 2019 (Dollars in thousands) Deposits and pre-acquisition costs $ 14,142 $ 17,865 Land held and land under development 146,859 180,823 Homes completed or under construction 154,547 183,711 Model homes 55,401 51,539 $ 370,949 $ 433,938
Asset Impairment Charges [Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Inventory impairments: Home sales $ 19,000 $ — $ 19,000 $ — Total inventory impairments $ 19,000 $ — $ 19,000 $ — Remaining carrying value of inventory impaired at period end $ 79,033 $ — $ 79,033 $ — Number of projects impaired during the period 5 — 5 — Total number of projects subject to periodic impairment review during period (1) 27 25 27 27

Note 5 - Capitalized Interest (

Note 5 - Capitalized Interest (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Interest Income and Interest Expense Disclosure [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Interest incurred $ 6,150 $ 7,606 $ 12,530 $ 15,367 Interest capitalized to inventory (4,879 ) (7,606 ) (10,541 ) (15,367 ) Interest expensed $ 1,271 $ — $ 1,989 $ — Capitalized interest in beginning inventory $ 25,152 $ 28,600 $ 26,397 $ 25,681 Interest capitalized as a cost of inventory 4,879 7,606 10,541 15,367 Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition — 3 — 13 Previously capitalized interest included in cost of home and land sales (4,601 ) (6,301 ) (10,747 ) (11,153 ) Previously capitalized interest included in project abandonment costs — — (761 ) — Capitalized interest in ending inventory $ 25,430 $ 29,908 $ 25,430 $ 29,908 Capitalized interest in beginning investment in unconsolidated joint ventures $ 93 $ 672 $ 541 $ 713 Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition — (3 ) — (13 ) Previously capitalized interest included in equity in net income (loss) of unconsolidated joint ventures (31 ) (48 ) (479 ) (79 ) Capitalized interest in ending investment in unconsolidated joint ventures 62 621 62 621 Total capitalized interest in ending inventory and investments in unconsolidated joint ventures $ 25,492 $ 30,529 $ 25,492 $ 30,529 Capitalized interest as a percentage of inventory 6.9 % 5.5 % 6.9 % 5.5 % Interest included in cost of home sales as a percentage of home sales revenue 6.0 % 4.4 % 6.2 % 4.7 % Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures 0.5 % 1.8 % 0.5 % 1.8 %

Note 6 - Investments in and A_2

Note 6 - Investments in and Advances to Unconsolidated Joint Ventures (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Equity Method Investments [Table Text Block]	June 30, December 31, 2020 2019 (Dollars in thousands) Cash and cash equivalents $ 28,375 $ 31,484 Restricted cash 13,250 13,852 Real estate inventories 221,972 241,416 Other assets 3,778 3,843 Total assets $ 267,375 $ 290,595 Accounts payable and accrued liabilities $ 11,100 $ 16,778 Notes payable 11,633 28,665 Total liabilities 22,733 45,443 The New Home Company's equity (1) 28,465 27,722 Other partners' equity 216,177 217,430 Total equity 244,642 245,152 Total liabilities and equity $ 267,375 $ 290,595 Debt-to-capitalization ratio 4.5 % 10.5 % Debt-to-equity ratio 4.8 % 11.7 % Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Revenues $ 30,290 $ 59,078 $ 61,937 $ 101,365 Cost of sales and expenses 28,672 57,288 58,957 99,062 Net income of unconsolidated joint ventures $ 1,618 $ 1,790 $ 2,980 $ 2,303 Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations $ (19,962 ) $ 185 $ (21,899 ) $ 369 Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Revenues $ 26,198 $ 45,167 $ 45,746 $ 77,463 Cost of home and land sales 24,012 41,352 41,314 70,686 Gross margin $ 2,186 $ 3,815 $ 4,432 $ 6,777 Expenses 1,243 1,990 2,590 3,852 Net income $ 943 $ 1,825 $ 1,842 $ 2,925 Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations $ (19,926 ) $ 247 $ (19,718 ) $ 486

Note 7 - Other Assets (Tables)

Note 7 - Other Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Other Assets [Table Text Block]	June 30, December 31, 2020 2019 (Dollars in thousands) Capitalized selling and marketing costs, net (1) $ 6,758 $ 7,148 Prepaid income taxes (2) 29,328 1,032 Insurance receivable (3) 6,000 10,900 Warranty insurance receivable (4) 1,782 1,852 Prepaid expenses 2,448 2,729 Right-of-use lease assets 2,277 1,988 Other 271 231 $ 48,864 $ 25,880

Note 8 - Accrued Expenses and_2

Note 8 - Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Accrued Expenses and Other Liabilities [Table Text Block]	June 30, December 31, 2020 2019 (Dollars in thousands) Warranty accrual (1) $ 6,740 $ 7,223 Litigation reserves (2) 6,000 10,900 Accrued interest 5,605 5,796 Accrued compensation and benefits 4,216 5,350 Completion reserve 964 3,167 Customer deposits 3,608 3,574 Lease liabilities 2,434 2,243 Other accrued expenses 3,713 2,301 $ 33,280 $ 40,554
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Beginning warranty accrual for homebuilding projects $ 6,836 $ 6,767 $ 7,195 $ 6,681 Warranty provision for homebuilding projects 357 627 778 1,054 Warranty payments for homebuilding projects (481 ) (581 ) (1,261 ) (922 ) Adjustment to warranty accrual(1) — 94 — 94 Ending warranty accrual for homebuilding projects 6,712 6,907 6,712 6,907 Beginning warranty accrual for fee building projects 28 178 28 217 Warranty provision for fee building projects — — — 9 Warranty efforts for fee building projects — (18 ) — (66 ) Adjustment to warranty accrual for fee building projects(1) — (18 ) — (18 ) Ending warranty accrual for fee building projects 28 142 28 142 Total ending warranty accrual $ 6,740 $ 7,049 $ 6,740 $ 7,049 (1) During the 2019 second quarter, we recorded an adjustment of $0.1 million to our warranty accrual for homebuilding projects due to higher expected warranty expenditures which is included in "Adjustment to warranty accrual" above and resulted in an increase of the same amount to cost of home sales in the accompanying condensed consolidated statement of operations. Also during the 2019 second quarter, the Company recorded an adjustment of $18,000 due to lower experience rate of expected warranty expenditures for fee building projects which is included in "Adjustment to warranty accrual for fee building projects" above and resulted in a reduction of the same amount to cost of fee building sales in the accompanying condensed consolidated statement of operations.

Note 9 - Senior Notes and Uns_2

Note 9 - Senior Notes and Unsecured Revolving Credit Facility (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Debt [Table Text Block]	June 30, December 31, 2020 2019 (Dollars in thousands) 7.25 $ 295,124 $ 304,832 Unsecured revolving credit facility — — Total Indebtedness $ 295,124 $ 304,832

Note 10 - Fair Value Disclosu_2

Note 10 - Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	June 30, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value (Dollars in thousands) 7.25 (1) $ 295,124 $ 274,458 $ 304,832 $ 298,775 Unsecured revolving credit facility $ — $ — $ — $ —

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Lease cost: Lease costs included in general and administrative expenses $ 314 $ 265 $ 625 $ 620 Lease costs included in real estate inventories 111 207 208 369 Lease costs included in selling and marketing expenses 59 17 98 34 Net lease cost (1) $ 484 $ 489 $ 931 $ 1,023 Other Information: Lease cash flows (included in operating cash flows) (1) $ 518 $ 563 $ 1,016 $ 1,053
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Remaining for 2020 $ 885 2021 852 2022 230 2023 220 2024 210 Thereafter 124 Total lease payments (1) $ 2,521 Less: Interest (2) 87 Present value of lease liabilities (3) $ 2,434

Note 13 - Stock-based Compens_2

Note 13 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Six Months Ended June 30, 2020 2019 Number of Shares Weighted-Average Exercise Price per Share Number of Shares Weighted-Average Exercise Price per Share Outstanding Stock Option Activity Outstanding, beginning of period 1,068,017 $ 9.78 821,470 $ 11.00 Granted 161,479 $ 5.36 249,283 $ 5.76 Exercised — $ — — $ — Forfeited — $ — (2,736 ) $ 11.00 Outstanding, end of period 1,229,496 $ 9.20 1,068,017 $ 9.78 Exercisable, end of period 901,829 $ 10.52 818,734 $ 11.00
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Six Months Ended June 30, 2020 2019 Number of Shares Weighted-Average Grant-Date Fair Value per Share Number of Shares Weighted-Average Grant-Date Fair Value per Share Restricted Stock Unit Activity Outstanding, beginning of period 592,116 $ 6.36 469,227 $ 10.75 Granted 358,869 $ 4.78 230,774 $ 5.28 Vested (244,812 ) $ 7.61 (277,401 ) $ 10.50 Forfeited (428 ) $ 11.68 (48,178 ) $ 10.91 Outstanding, end of period 705,745 $ 5.12 374,422 $ 7.54
Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block]	Six Months Ended June 30, 2020 2019 Number of Shares Weighted-Average Grant-Date Fair Value per Share Number of Shares Weighted-Average Grant-Date Fair Value per Share Performance Share Unit Activity Outstanding, beginning of period — $ — 125,422 $ 11.68 Granted (at target) — $ — — $ — Vested — $ — — $ — Forfeited — $ — (26,882 ) $ 11.68 Outstanding, end of period (at target) — $ — 98,540 $ 11.68
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Expense related to: Stock options $ 81 $ 50 $ 145 $ 72 Restricted stock units and performance share units 440 473 965 1,017 $ 521 $ 523 $ 1,110 $ 1,089
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Six Months Ended June 30, 2020 2019 Expected term (in years) 6.0 6.0 Expected volatility 41.8 % 39.9 % Risk-free interest rate 1.4 % 2.5 % Expected dividends — — Weighted-average grant date fair value per share $ 2.24 $ 2.43

Note 14 - Income Taxes (Tables)

Note 14 - Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	June 30, December 31, 2020 2019 (Dollars in thousands) Net operating loss $ 8,080 $ 3,848 Reserves and accruals 2,637 2,563 Share based compensation 1,479 1,392 Inventory 4,278 3,536 Investments in joint ventures 392 7,080 Other 23 27 Capital loss 140 — Valuation allowance (140 ) — Depreciation and amortization (392 ) (393 ) Right of use asset (631 ) (550 ) Deferred tax asset, net $ 15,866 $ 17,503

Note 15 - Segment Information (

Note 15 - Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Homebuilding revenues: California home sales $ 71,597 $ 132,830 $ 154,877 $ 216,162 California land sales 10 — 157 — Arizona home sales 6,160 7,634 18,539 23,488 Total homebuilding revenues 77,767 140,464 173,573 239,650 Fee building revenues, including management fees 21,193 22,285 57,420 41,947 Total revenues $ 98,960 $ 162,749 $ 230,993 $ 281,597 Homebuilding pretax income (loss): California $ (38,238 ) $ 2,846 $ (42,689 ) $ 279 Arizona (3,192 ) (796 ) (17,884 ) (1,274 ) Total homebuilding pretax income (loss) (41,430 ) 2,050 (60,573 ) (995 ) Fee building pretax income, including management fees 208 515 938 909 Total pretax income (loss) $ (41,222 ) $ 2,565 $ (59,635 ) $ (86 ) June 30, December 31, 2020 2019 (Dollars in thousands) Homebuilding assets: California $ 379,199 $ 416,179 Arizona 64,690 82,234 Total homebuilding assets 443,889 498,413 Fee building assets 4,492 11,193 Corporate unallocated assets 93,213 93,583 Total assets $ 541,594 $ 603,189

Note 16 - Supplemental Disclo_2

Note 16 - Supplemental Disclosure of Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Six Months Ended June 30, 2020 2019 (Dollars in thousands) Supplemental disclosures of cash flow information Interest paid, net of amounts capitalized $ 1,398 $ — Income taxes paid $ — $ 240

Note 17 - Supplemental Guaran_2

Note 17 - Supplemental Guarantor Information (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Condensed Balance Sheet [Table Text Block]	June 30, 2020 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Assets Cash and cash equivalents $ 39,871 $ 45,543 $ 174 $ — $ 85,588 Restricted cash — 144 — — 144 Contracts and accounts receivable 4 7,525 — (417 ) 7,112 Intercompany receivables 259,822 — — (259,822 ) — Due from affiliates 1 139 — — 140 Real estate inventories — 370,949 — — 370,949 Investment in and advances to unconsolidated joint ventures — 12,931 — — 12,931 Investment in subsidiaries 150,811 — — (150,811 ) — Deferred tax asset, net 15,237 629 — — 15,866 Other assets 37,820 11,017 27 — 48,864 Total assets $ 503,566 $ 448,877 $ 201 $ (411,050 ) $ 541,594 Liabilities and equity Accounts payable $ 127 $ 15,985 $ — $ — $ 16,112 Accrued expenses and other liabilities 11,349 22,318 26 (413 ) 33,280 Intercompany payables — 259,822 — (259,822 ) — Due to affiliates — 4 — (4 ) — Senior notes, net 295,124 — — — 295,124 Total liabilities 306,600 298,129 26 (260,239 ) 344,516 Total stockholders' equity 196,966 150,748 63 (150,811 ) 196,966 Non-controlling interest in subsidiary — — 112 — 112 Total equity 196,966 150,748 175 (150,811 ) 197,078 Total liabilities and equity $ 503,566 $ 448,877 $ 201 $ (411,050 ) $ 541,594 December 31, 2019 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Assets Cash and cash equivalents $ 66,166 $ 12,978 $ 170 $ — $ 79,314 Restricted cash — 117 — — 117 Contracts and accounts receivable 3 16,403 — (424 ) 15,982 Intercompany receivables 258,372 — — (258,372 ) — Due from affiliates — 238 — — 238 Real estate inventories — 433,938 — — 433,938 Investment in and advances to unconsolidated joint ventures — 30,217 — — 30,217 Investment in subsidiaries 198,448 — — (198,448 ) — Deferred tax asset, net 17,003 500 — — 17,503 Other assets 9,505 16,340 35 — 25,880 Total assets $ 549,497 $ 510,731 $ 205 $ (457,244 ) $ 603,189 Liabilities and equity Accounts payable $ 68 $ 24,973 $ 3 $ — $ 25,044 Accrued expenses and other liabilities 11,950 28,999 26 (421 ) 40,554 Intercompany payables — 258,372 — (258,372 ) — Due to affiliates — 3 — (3 ) — Senior notes, net 304,832 — — — 304,832 Total liabilities 316,850 312,347 29 (258,796 ) 370,430 Total stockholders' equity 232,647 198,384 64 (198,448 ) 232,647 Non-controlling interest in subsidiary — — 112 — 112 Total equity 232,647 198,384 176 (198,448 ) 232,759 Total liabilities and equity $ 549,497 $ 510,731 $ 205 $ (457,244 ) $ 603,189
Condensed Income Statement [Table Text Block]	Three Months Ended June 30, 2020 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 77,757 $ — $ — $ 77,757 Land sales — 10 — — 10 Fee building — 21,193 — — 21,193 — 98,960 — — 98,960 Cost of Sales: Home sales — 66,216 — — 66,216 Home sales impairments — 19,000 — — 19,000 Land sales — 10 — — 10 Fee building — 20,985 — — 20,985 — 106,211 — — 106,211 Gross Margin: Home sales — (7,459 ) — — (7,459 ) Land sales — — — — — Fee building — 208 — — 208 — (7,251 ) — — (7,251 ) Selling and marketing expenses — (6,386 ) — — (6,386 ) General and administrative expenses (960 ) (5,932 ) — — (6,892 ) Equity in net loss of unconsolidated joint ventures — (19,962 ) — — (19,962 ) Equity in net loss of subsidiaries (25,858 ) — — 25,858 — Interest expense — (1,271 ) — — (1,271 ) Project abandonment costs — (94 ) — — (94 ) Gain on early extinguishment of debt 702 — — — 702 Other income (expense), net (38 ) (30 ) — — (68 ) Pretax loss (26,154 ) (40,926 ) — 25,858 (41,222 ) Benefit for income taxes 1,861 15,068 — — 16,929 Net loss (24,293 ) (25,858 ) — 25,858 (24,293 ) Net loss attributable to non-controlling interest in subsidiary — — — — — Net loss attributable to The New Home Company Inc. $ (24,293 ) $ (25,858 ) $ — $ 25,858 $ (24,293 ) Three Months Ended June 30, 2019 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 140,464 $ — $ — $ 140,464 Fee building — 22,285 — — 22,285 — 162,749 — — 162,749 Cost of Sales: Home sales — 123,582 (57 ) — 123,525 Fee building — 21,770 — — 21,770 — 145,352 (57 ) — 145,295 Gross Margin: Home sales — 16,882 57 — 16,939 Fee building — 515 — — 515 — 17,397 57 — 17,454 Selling and marketing expenses — (9,683 ) — — (9,683 ) General and administrative expenses 617 (6,458 ) — — (5,841 ) Equity in net income of unconsolidated joint ventures — 185 — — 185 Equity in net income of subsidiaries 1,087 — — (1,087 ) — Project abandonment costs — (14 ) — — (14 ) Gain on early extinguishment of debt 552 — — — 552 Other income (expense), net (106 ) 18 — — (88 ) Pretax income 2,150 1,445 57 (1,087 ) 2,565 Provision for income taxes (578 ) (396 ) — — (974 ) Net income 1,572 1,049 57 (1,087 ) 1,591 Net income attributable to non-controlling interest in subsidiary — — (19 ) — (19 ) Net income attributable to The New Home Company Inc. $ 1,572 $ 1,049 $ 38 $ (1,087 ) $ 1,572 Six Months Ended June 30, 2020 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 173,416 $ — $ — $ 173,416 Land sales — 157 — — 157 Fee building — 57,420 — — 57,420 — 230,993 — — 230,993 Cost of Sales: Home sales — 150,938 — — 150,938 Home sales impairments — 19,000 — — 19,000 Land sales — 157 — — 157 Fee building — 56,482 — — 56,482 — 226,577 — — 226,577 Gross Margin: Home sales — 3,478 — — 3,478 Land sales — — — — — Fee building — 938 — — 938 — 4,416 — — 4,416 Selling and marketing expenses — (13,852 ) — — (13,852 ) General and administrative expenses (739 ) (12,176 ) — — (12,915 ) Equity in net loss of unconsolidated joint ventures — (21,899 ) — — (21,899 ) Equity in net loss of subsidiaries (36,388 ) — — 36,388 — Interest expense — (1,989 ) — — (1,989 ) Project abandonment costs — (14,130 ) — — (14,130 ) Gain on early extinguishment of debt 579 — — — 579 Other income (expense), net 155 — — — 155 Pretax loss (36,393 ) (59,630 ) — 36,388 (59,635 ) Benefit for income taxes 3,624 23,242 — — 26,866 Net loss (32,769 ) (36,388 ) — 36,388 (32,769 ) Net loss attributable to non-controlling interest in subsidiary — — — — — Net loss attributable to The New Home Company Inc. $ (32,769 ) $ (36,388 ) $ — $ 36,388 $ (32,769 ) Six Months Ended June 30, 2019 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 239,650 $ — $ — $ 239,650 Fee building — 41,947 — — 41,947 — 281,597 — — 281,597 Cost of Sales: Home sales — 210,151 (57 ) — 210,094 Fee building — 41,038 — — 41,038 — 251,189 (57 ) — 251,132 Gross Margin: Home sales — 29,499 57 — 29,556 Fee building — 909 — — 909 — 30,408 57 — 30,465 Selling and marketing expenses — (18,362 ) — — (18,362 ) General and administrative expenses 51 (13,283 ) — — (13,232 ) Equity in net income of unconsolidated joint ventures — 369 — — 369 Equity in net loss of subsidiaries (625 ) — — 625 — Project abandonment costs — (19 ) — — (19 ) Gain on early extinguishment of debt 969 — — — 969 Other income (expense), net (168 ) (108 ) — — (276 ) Pretax income (loss) 227 (995 ) 57 625 (86 ) (Provision) benefit for income taxes (642 ) 332 — — (310 ) Net income (loss) (415 ) (663 ) 57 625 (396 ) Net income attributable to non-controlling interest in subsidiary — — (19 ) — (19 ) Net income (loss) attributable to The New Home Company Inc. $ (415 ) $ (663 ) $ 38 $ 625 $ (415 )
Condensed Cash Flow Statement [Table Text Block]	Six Months Ended June 30, 2020 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash (used in) provided by operating activities $ (23,225 ) $ 45,377 $ 4 $ (133 ) $ 22,023 Investing activities: Purchases of property and equipment (84 ) (59 ) — — (143 ) Contributions and advances to unconsolidated joint ventures — (3,847 ) — — (3,847 ) Contributions to subsidiaries from corporate (35,690 ) — — 35,690 — Distributions of capital from subsidiaries to corporate 46,806 — — (46,806 ) — Distributions of capital and repayment of advances from unconsolidated joint ventures — 2,370 — — 2,370 Net cash provided by (used in) investing activities $ 11,032 $ (1,536 ) $ — $ (11,116 ) $ (1,620 ) Financing activities: Repurchase of senior notes (9,825 ) — — — (9,825 ) Contributions to subsidiaries from corporate — 35,690 — (35,690 ) — Distributions to corporate from subsidiaries — (46,939 ) — 46,939 — Proceeds from note payable 7,036 — — — 7,036 Repayment of note payable (7,036 ) — — — (7,036 ) Payment of debt issuance costs (255 ) — — — (255 ) Repurchases of common stock (3,718 ) — — — (3,718 ) Tax withholding paid on behalf of employees for stock awards (304 ) — — — (304 ) Net cash used in financing activities $ (14,102 ) $ (11,249 ) $ — $ 11,249 $ (14,102 ) Net (decrease) increase in cash, cash equivalents and restricted cash (26,295 ) 32,592 4 — 6,301 Cash, cash equivalents and restricted cash – beginning of period 66,166 13,095 170 — 79,431 Cash, cash equivalents and restricted cash – end of period $ 39,871 $ 45,687 $ 174 $ — $ 85,732 Six Months Ended June 30, 2019 NWHM Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash (used in) provided by operating activities $ (36,110 ) $ 54,970 $ 32 $ — $ 18,892 Investing activities: Purchases of property and equipment (1 ) (7 ) — — (8 ) Contributions and advances to unconsolidated joint ventures — (4,120 ) — — (4,120 ) Contributions to subsidiaries from corporate (66,575 ) — — 66,575 — Distributions of capital from subsidiaries to corporate 91,700 — — (91,700 ) — Distributions of capital and repayment of advances from unconsolidated joint ventures — 4,928 — — 4,928 Net cash provided by investing activities $ 25,124 $ 801 $ — $ (25,125 ) $ 800 Financing activities: Borrowings from credit facility 40,000 — — — 40,000 Repayments of credit facility (41,500 ) — — — (41,500 ) Repurchase of senior notes (10,856 ) — — — (10,856 ) Contributions to subsidiaries from corporate — 66,575 — (66,575 ) — Distributions to corporate from subsidiaries — (91,700 ) — 91,700 — Repurchases of common stock (1,042 ) — — — (1,042 ) Tax withholding paid on behalf of employees for stock awards (488 ) — — — (488 ) Net cash used in financing activities $ (13,886 ) $ (25,125 ) $ — $ 25,125 $ (13,886 ) Net (decrease) increase in cash, cash equivalents and restricted cash (24,872 ) 30,646 32 — 5,806 Cash, cash equivalents and restricted cash – beginning of period 28,877 13,518 147 — 42,542 Cash, cash equivalents and restricted cash – end of period $ 4,005 $ 44,164 $ 179 $ — $ 48,348

Note 1 - Organization and Sum_3

Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual)	May 08, 2020$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2019USD ($)shares	Dec. 31, 2019USD ($)$ / shares	Jun. 28, 2019USD ($)
Entity Public Float							$ 58,900,000
Restricted Cash, Total		$ 144,000	$ 124,000	$ 144,000	$ 124,000	$ 117,000
Impairment of Real Estate		19,000,000	0	19,000,000	0
Abandoned Project Costs		100,000	14,000	14,130,000	$ 19,000
Nonrefundable Cash Deposits		12,600,000		12,600,000
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance		$ 112,000		$ 112,000		112,000
Capitalized Contract Cost, Amortization Period (Month)		30 months		30 months
Period of General Warranty (Year)				1 year
Accounts Receivable, Allowance for Credit Loss, Ending Balance		$ 0		$ 0		0
Capitalized Selling and Marketing Cost, Amortization Period (Month)				30 months
Deferred Tax Assets, Valuation Allowance, Total		140,000		$ 140,000		$ 0
Unrecognized Tax Benefits, Ending Balance		0		0
Income Tax Examination, Penalties and Interest Accrued, Total		$ 0		$ 0
Stock Repurchased and Retired During Period, Shares (in shares) | shares		817,300		2,051,183	153,916
Stock Repurchased and Retired During Period, Value		$ 1,485,000		$ 3,718,000	$ 1,042,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 1,700,000		$ 1,700,000
Dividend, Declared, Preferred Stock Purchase Right Per Common Share (in shares) | shares	1
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares	$ 0.01	$ 0.01		$ 0.01		$ 0.01
Preferred Stock Purchase Right, Exercise Price (in dollars per share) | $ / shares	$ 11.50
Dividends, Common Stock, Total		$ 0	0	$ 0	0
Unconsolidated Joint Ventures [Member]
Equity Method Investment, Other than Temporary Impairment		$ 20,000,000	$ 0	$ 22,300,000	0
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)				5 years
Maximum [Member] | Unconsolidated Joint Ventures [Member]
Equity Method Investment, Ownership Percentage		35.00%		35.00%		35.00%
Minimum [Member]
Limited Warranty Period (Year)				2 years
Property, Plant and Equipment, Useful Life (Year)				3 years
Minimum [Member] | Unconsolidated Joint Ventures [Member]
Equity Method Investment, Ownership Percentage		5.00%		5.00%		5.00%
Noncontrolling Interest [Member]
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance		$ 100,000		$ 100,000		$ 100,000
Stock Repurchased and Retired During Period, Value		$ 0		$ 0	$ 0
Customer Concentration Risk [Member] | Fee Building Revenue [Member]
Number of Major Customers		1	1	1	1
Customer Concentration Risk [Member] | Fee Building Revenue [Member] | One Customer [Member]
Concentration Risk, Percentage		94.00%	95.00%	97.00%	93.00%
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Number of Major Customers				1		1
Customer Concentration Risk [Member] | Accounts Receivable [Member] | One Customer [Member]
Concentration Risk, Percentage				51.00%		65.00%

Note 1 - Organization and Sum_4

Note 1 - Organization and Summary of Significant Accounting Policies - Cash and Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Cash and cash equivalents	$ 85,588	$ 79,314	$ 48,224
Restricted cash	144	117	124
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows	$ 85,732	$ 79,431	$ 48,348	$ 42,542

Note 2 - Computation of Earni_3

Note 2 - Computation of Earnings (Loss) Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net income (loss) attributable to The New Home Company Inc.	$ (24,293)	$ 1,572	$ (32,769)	$ (415)
Basic weighted-average shares outstanding (in shares)	18,341,549	20,070,914	19,146,687	20,028,600
Stock options and unvested restricted stock units (in shares)	0	24,619	0	0
Diluted weighted-average shares outstanding (in shares)	18,341,549	20,095,533	19,146,687	20,028,600
Basic earnings (loss) per share attributable to The New Home Company Inc. (in dollars per share)	$ (1.32)	$ 0.08	$ (1.71)	$ (0.02)
Diluted earnings (loss) per share attributable to The New Home Company Inc. (in dollars per share)	$ (1.32)	$ 0.08	$ (1.71)	$ (0.02)
Antidilutive stock options and unvested restricted stock units not included in diluted earnings (loss) per share (in shares)	1,897,100	1,349,106	1,841,463	1,292,726

Note 3 - Contracts and Accoun_3

Note 3 - Contracts and Accounts Receivable (Details Textual) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Construction Payable	$ 2.9	$ 9.6

Note 3 - Contracts and Accoun_4

Note 3 - Contracts and Accounts Receivable - Contracts and Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Costs incurred on fee building projects	$ 56,482	$ 93,281
Estimated earnings	938	2,052
Contracts receivable, before collections	57,420	95,333
Less: amounts collected during the period	(53,642)	(84,979)
Contracts receivable	3,778	10,354
Billed	0	0
Unbilled	3,778	10,354
Total contracts receivable	3,778	10,354
Escrow receivables	3,151	5,392
Other receivables	183	236
Contracts and accounts receivable	$ 7,112	$ 15,982

Note 4 - Real Estate Inventor_3

Note 4 - Real Estate Inventories (Details Textual) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Inventory, Real Estate, Refundable	$ 0			$ 0		$ 100
Impairment of Real Estate	19,000		$ 0	19,000	$ 0
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	(41,222)		2,565	(59,635)	(86)
Impairment of Long-Lived Assets to be Disposed of	$ 94	$ 14,000	$ 14	$ 14,130	$ 19
Measurement Input, Discount Rate [Member] | Minimum [Member]
Real Estate Inventory, Measurement Input	0.14			0.14
Measurement Input, Discount Rate [Member] | Maximum [Member]
Real Estate Inventory, Measurement Input	0.26			0.26
California 1 [Member] | Multi-family Community in Sacramento Area [Member]
Impairment of Real Estate Homes	$ 6,500
California 1 [Member] | Townhouse Community Within Sourthern California's Inland Empire [Member]
Impairment of Real Estate Homes	6,200
California 1 [Member] | Attached-product Community in San Diego [Member]
Impairment of Real Estate Homes	4,500
California 1 [Member] | Multi-family Condominium Community in Los Angeles [Member]
Impairment of Real Estate Homes	600
Arizona 1 [Member]
Impairment of Real Estate Homes	1,200
Home Building Segment [Member] | California 1 [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	17,800
Home Building Segment [Member] | Arizona 1 [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ 1,200

Note 4 - Real Estate Inventor_4

Note 4 - Real Estate Inventories - Real Estate Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Deposits and pre-acquisition costs	$ 14,142	$ 17,865
Land held and land under development	146,859	180,823
Homes completed or under construction	154,547	183,711
Model homes	55,401	51,539
Real estate inventories	$ 370,949	$ 433,938

Note 4 - Real Estate Inventor_5

Note 4 - Real Estate Inventories - Inventory Impairments (Details) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Impairments		$ 19,000	$ 0	$ 19,000	$ 0
Remaining carrying value of inventory impaired at period end		$ 79,033	$ 0	$ 79,033	$ 0
Number of projects impaired during the period		5	0	5	0
Total number of projects subject to periodic impairment review during period (1)	[1]	27	25	27	27
Home Building [Member]
Impairments		$ 19,000	$ 0	$ 19,000	$ 0
[1]	Represents the peak number of real estate projects that we had during each respective period. The number of projects outstanding at the end of each period may be less than the number of projects listed herein.

Note 5 - Capitalized Interest_2

Note 5 - Capitalized Interest (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Previously Capitalized Interest Included in Project Abandonments Costs	$ 0	$ 0	$ 761	$ 0
Other than Temporary Impairment Losses, Investments, Total			$ 400

Note 5 - Capitalized Interest -

Note 5 - Capitalized Interest - Summary of Interest Incurred, Capitalized, and Expensed (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Interest incurred	$ 6,150	$ 7,606	$ 12,530	$ 15,367
Interest capitalized to inventory	(4,879)	(7,606)	(10,541)	(15,367)
Interest expensed	1,271	0	1,989	0
Capitalized interest in beginning inventory	25,152	28,600	26,397	25,681
Interest capitalized as a cost of inventory	4,879	7,606	10,541	15,367
Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition	0	3	0	13
Previously capitalized interest included in cost of home and land sales	(4,601)	(6,301)	(10,747)	(11,153)
Previously capitalized interest included in project abandonment costs	0	0	(761)	0
Capitalized interest in ending inventory	25,430	29,908	25,430	29,908
Capitalized interest in beginning investment in unconsolidated joint ventures	93	672	541	713
Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition	0	(3)	0	(13)
Previously capitalized interest included in equity in net income (loss) of unconsolidated joint ventures	(31)	(48)	(479)	(79)
Capitalized interest in ending investment in unconsolidated joint ventures	62	621	62	621
Total capitalized interest in ending inventory and investments in unconsolidated joint ventures	$ 25,492	$ 30,529	$ 25,492	$ 30,529
Capitalized interest as a percentage of inventory	6.90%	5.50%	6.90%	5.50%
Interest included in cost of home sales as a percentage of home sales revenue	6.00%	4.40%	6.20%	4.70%
Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures	0.50%	1.80%	0.50%	1.80%

Note 6 - Investments in and A_3

Note 6 - Investments in and Advances to Unconsolidated Joint Ventures (Details Textual) $ in Thousands	3 Months Ended				6 Months Ended
	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2019
Equity Method Investment, Ownership Interests in Unconsolidated Joint Ventures		10			10		10
Equity Method Investment, Interest Capitalized					$ 15,500
Revenue from Contract with Customer, Including Assessed Tax		$ 98,960		$ 162,749	230,993	$ 281,597
Management Service [Member]
Revenue from Contract with Customer, Including Assessed Tax		200		600	600	1,200
Unconsolidated Joint Ventures [Member]
Equity Method Investment, Other than Temporary Impairment		20,000		$ 0	22,300	$ 0
Unconsolidated Joint Ventures [Member] | Forecast [Member]
Proceeds from Sale of Equity Method Investments	$ 5,100
Bedford [Member]
Equity Method Investment, Other than Temporary Impairment			$ 2,300
Land Development Joint Venture [Member]
Equity Method Investment, Other than Temporary Impairment		$ 20,000			$ 20,000
Minimum [Member] | Unconsolidated Joint Ventures [Member]
Equity Method Investment, Ownership Percentage		5.00%			5.00%		5.00%
Maximum [Member] | Unconsolidated Joint Ventures [Member]
Equity Method Investment, Ownership Percentage		35.00%			35.00%		35.00%

Note 6 - Investments in and A_4

Note 6 - Investments in and Advances to Unconsolidated Joint Ventures - Condensed Combined Financial Statements for Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Cash and cash equivalents		$ 85,588	$ 48,224	$ 85,588	$ 48,224		$ 79,314
Restricted Cash, Total		144	124	144	124		117
Real estate inventories		370,949		370,949			433,938
Other assets		48,864		48,864			25,880
Total assets		541,594		541,594			603,189
Total liabilities		344,516		344,516			370,430
The New Home Company's equity(1)		196,966		196,966			232,647
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance		112		112			112
Total equity		197,078	239,193	197,078	239,193	$ 222,336	232,759	$ 237,079	$ 240,030
Total liabilities and equity		541,594		541,594			603,189
Revenues		98,960	162,749	230,993	281,597
Cost of sales and expenses		106,211	145,295	226,577	251,132
Net income of unconsolidated joint ventures		(24,293)	1,591	(32,769)	(396)
Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations		(19,962)	185	(21,899)	369
Gross margin		(7,251)	17,454	4,416	30,465
Net income (loss)		0	19	0	19
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Cash and cash equivalents		28,375		28,375			31,484
Restricted Cash, Total		13,250		13,250			13,852
Real estate inventories		221,972		221,972			241,416
Other assets		3,778		3,778			3,843
Total assets		267,375		267,375			290,595
Accounts payable and accrued liabilities		11,100		11,100			16,778
Notes payable		11,633		11,633			28,665
Total liabilities		22,733		22,733			45,443
The New Home Company's equity(1)	[1]	28,465		28,465			27,722
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance		216,177		216,177			217,430
Total equity		244,642		244,642			245,152
Total liabilities and equity		$ 267,375		$ 267,375			$ 290,595
Debt-to-capitalization ratio		4.50%		4.50%			10.50%
Debt-to-equity ratio		4.80%		4.80%			11.70%
Revenues		$ 30,290	59,078	$ 61,937	101,365
Cost of sales and expenses		28,672	57,288	58,957	99,062
Net income of unconsolidated joint ventures		1,618	1,790	2,980	2,303
Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations		(19,962)	185	(21,899)	369
Unconsolidated Joint Venture with More than 20 Percent Loss Allocation [Member]
Revenues		26,198	45,167	45,746	77,463
Cost of sales and expenses		24,012	41,352	41,314	70,686
Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations		(19,926)	247	(19,718)	486
Gross margin		2,186	3,815	4,432	6,777
Expenses		1,243	1,990	2,590	3,852
Net income (loss)		$ 943	$ 1,825	$ 1,842	$ 2,925
[1]	Balance represents the Company's interest, as reflected in the financial records of the respective joint ventures. This balance differs from the investment in and advances to unconsolidated joint ventures balance reflected in the Company's consolidated balance sheets by $15.5 million due to other-than-temporary impairment charges to the Company's investment, interest capitalized to the Company's investment in joint ventures and certain other differences in outside basis.

Note 7 - Other Assets (Details

Note 7 - Other Assets (Details Textual) - USD ($) $ in Millions		3 Months Ended		6 Months Ended		12 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Capitalized Sales and Marketing Costs, Amortized				$ 2.5		$ 2.6
Depreciation, Capitalized Selling and Marketing Costs		$ 1.7	$ 2.3	3.5	$ 4.9
Income Tax Receivable, From CARES Act		28.4		28.4
Insurance Settlements Receivable	[1]	6		6		10.9
Estimated Litigation Liability	[2]	6		6		$ 10.9
Proceeds from Insurance Settlement, Operating Activities				4.7
Decrease in Insurance Settlements Receivable Estimate				(0.2)
Standard Product Warranty Accrual, Increase for Warranties Issued		$ 0.2	$ 0.6	$ 0.3	$ 0.6
[1]	At December 31, 2019, the Company recorded insurance receivables of $10.9 million in connection with $10.9 million of litigation reserves recorded. During the six months ended June 30, 2020, $4.7 million was paid by insurance related to two claims and the Company also reduced its insurance receivable estimate by $0.2 million for one of these claims, resulting in an insurance receivable balance of $6.0 million at June 30, 2020, with a corresponding decrease recorded within litigation reserves. For more information, please refer to Note 8.
[2]	During 2019, we recorded litigation reserves totaling $5.9 million related to ordinary course litigation which developed and became probable and estimable within the 2019 fourth quarter. Further, as a result of the development of the construction defect related claims within the litigation reserve and their impact to the Company’s litigation reserve estimates for IBNR future construction defect claims, we recorded an additional $5.0 million of IBNR construction defect claim reserves resulting in aggregate litigation reserves totaling $10.9 million as of December 31, 2019. Because the self-insured retention deductibles had been met for each claim covered by the $5.9 million reserve, and the self-insured retention deductibles are expected to be met for the $5.0 million IBNR construction defect claim reserves, the Company recorded estimated insurance receivables of $10.9 million offsetting the litigation reserves as of December 31, 2019. During the six months ended June 30, 2020, $4.7 million was paid by insurance related to two claims and the Company also reduced its litigation reserve estimate by $0.2 million for one of these claims, resulting in a litigation reserve balance of $6.0 million at June 30, 2020, with a corresponding decrease recorded within insurance receivables. Please refer to Note 7.

Note 7 - Other Assets - Summary

Note 7 - Other Assets - Summary of Other Assets (Details) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Capitalized selling and marketing costs, net(1)	[1]	$ 6,758	$ 7,148
Prepaid income taxes(2)	[2]	29,328	1,032
Insurance receivable(3)	[3]	6,000	10,900
Warranty insurance receivable(4)	[4]	1,782	1,852
Prepaid expenses		2,448	2,729
Right-of-use lease assets		2,277	1,988
Other		271	231
Other assets		$ 48,864	$ 25,880
[1]	Capitalized selling and marketing costs includes costs incurred for tangible assets directly used in the sales process such as our sales offices, design studios and model furnishings, and also includes model landscaping costs, which were $2.5 million and $2.6 million as of June 30, 2020 and December 31, 2019, respectively. The Company depreciated $1.7 million, $3.5 million, $2.3 million and $4.9 million of capitalized selling and marketing costs to selling and marketing expenses during the three and six months ended June 30, 2020 and 2019, respectively.
[2]	The amount at June 30, 2020 includes approximately $28.4 million of expected federal income tax refunds due to the recent enactment of the Coronavirus Aid, Relief and Economic Security Act ("CARES Act") signed into law on March 27, 2020 which allows net operating losses generated from 2018 - 2020 to be carried back five years.
[3]	At December 31, 2019, the Company recorded insurance receivables of $10.9 million in connection with $10.9 million of litigation reserves recorded. During the six months ended June 30, 2020, $4.7 million was paid by insurance related to two claims and the Company also reduced its insurance receivable estimate by $0.2 million for one of these claims, resulting in an insurance receivable balance of $6.0 million at June 30, 2020, with a corresponding decrease recorded within litigation reserves. For more information, please refer to Note 8.
[4]	During the three and six months ended June 30, 2020, the Company adjusted its warranty insurance receivable upward by $0.2 million and $0.3 million, respectively, to true-up the receivable to its estimate of qualifying reimbursable expenditures, which resulted in pretax income of the same amount. During the three and six months ended June 30, 2019, the Company adjusted its warranty insurance receivable by $0.6 million to true-up the receivable to its estimate of qualifying reimbursable expenditures, which resulted in pretax income of the same amount.

Note 8 - Accrued Expenses and_3

Note 8 - Accrued Expenses and Other Liabilities (Details Textual) - USD ($)		3 Months Ended	6 Months Ended
		Jun. 30, 2019	Jun. 30, 2020	Dec. 31, 2019
Standard Product Warranty Accrual, Ending Balance			$ 1,800,000	$ 1,900,000
Estimated Litigation Liability	[1]		6,000,000	10,900,000
Insurance Settlements Receivable	[2]		6,000,000	10,900,000
Proceeds from Insurance Settlement, Operating Activities			4,700,000
Increase (Decrease) in Litigation Reserve			$ (200,000)
Home Building Segment [Member]
Standard Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties		$ 100,000
Fee Building Segment [Member]
Standard Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties		$ 18,000
Ordinary Course Litigation [Member]
Estimated Litigation Liability				5,900,000
IBNR Construction Defect Claims [Member]
Estimated Litigation Liability				$ 5,000,000
[1]	During 2019, we recorded litigation reserves totaling $5.9 million related to ordinary course litigation which developed and became probable and estimable within the 2019 fourth quarter. Further, as a result of the development of the construction defect related claims within the litigation reserve and their impact to the Company’s litigation reserve estimates for IBNR future construction defect claims, we recorded an additional $5.0 million of IBNR construction defect claim reserves resulting in aggregate litigation reserves totaling $10.9 million as of December 31, 2019. Because the self-insured retention deductibles had been met for each claim covered by the $5.9 million reserve, and the self-insured retention deductibles are expected to be met for the $5.0 million IBNR construction defect claim reserves, the Company recorded estimated insurance receivables of $10.9 million offsetting the litigation reserves as of December 31, 2019. During the six months ended June 30, 2020, $4.7 million was paid by insurance related to two claims and the Company also reduced its litigation reserve estimate by $0.2 million for one of these claims, resulting in a litigation reserve balance of $6.0 million at June 30, 2020, with a corresponding decrease recorded within insurance receivables. Please refer to Note 7.
[2]	At December 31, 2019, the Company recorded insurance receivables of $10.9 million in connection with $10.9 million of litigation reserves recorded. During the six months ended June 30, 2020, $4.7 million was paid by insurance related to two claims and the Company also reduced its insurance receivable estimate by $0.2 million for one of these claims, resulting in an insurance receivable balance of $6.0 million at June 30, 2020, with a corresponding decrease recorded within litigation reserves. For more information, please refer to Note 8.

Note 8 - Accrued Expenses and_4

Note 8 - Accrued Expenses and Other Liabilities - Schedule of Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands		Jun. 30, 2020		Dec. 31, 2019		Jun. 30, 2019
Warranty accrual (1)		$ 6,740	[1]	$ 7,223	[1]	$ 7,049
Litigation reserves (2)	[2]	6,000		10,900
Accrued interest		5,605		5,796
Accrued compensation and benefits		4,216		5,350
Completion reserve		964		3,167
Customer deposits		3,608		3,574
Operating Lease, Liability, Total		2,434	[3]	2,243
Other accrued expenses		3,713		2,301
Total accrued expenses and other liabilities		$ 33,280		$ 40,554
[1]	Included in the amount at June 30, 2020 and December 31, 2019 is approximately $1.8 million and $1.9 million, respectively, of warranty liabilities estimated to be recovered by our insurance policies.
[2]	During 2019, we recorded litigation reserves totaling $5.9 million related to ordinary course litigation which developed and became probable and estimable within the 2019 fourth quarter. Further, as a result of the development of the construction defect related claims within the litigation reserve and their impact to the Company’s litigation reserve estimates for IBNR future construction defect claims, we recorded an additional $5.0 million of IBNR construction defect claim reserves resulting in aggregate litigation reserves totaling $10.9 million as of December 31, 2019. Because the self-insured retention deductibles had been met for each claim covered by the $5.9 million reserve, and the self-insured retention deductibles are expected to be met for the $5.0 million IBNR construction defect claim reserves, the Company recorded estimated insurance receivables of $10.9 million offsetting the litigation reserves as of December 31, 2019. During the six months ended June 30, 2020, $4.7 million was paid by insurance related to two claims and the Company also reduced its litigation reserve estimate by $0.2 million for one of these claims, resulting in a litigation reserve balance of $6.0 million at June 30, 2020, with a corresponding decrease recorded within insurance receivables. Please refer to Note 7.
[3]	The weighted average remaining lease term and weighted average incremental borrowing rate used in calculating our lease liabilities were 3.0 years and 4.7%, respectively at June 30, 2020.

Note 8 - Accrued Expenses and_5

Note 8 - Accrued Expenses and Other Liabilities - Changes in Warranty Accrual (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2020		Jun. 30, 2019	Jun. 30, 2020		Jun. 30, 2019
Beginning warranty accrual	[1]				$ 7,223
Ending warranty accrual		$ 6,740	[1]	$ 7,049	6,740	[1]	$ 7,049
Ending warranty accrual		6,740	[1]	7,049	7,223	[1]	7,049
Home Building Segment [Member]
Beginning warranty accrual		6,836		6,767	7,195		6,681
Warranty provision		357		627	778		1,054
Warranty payments		(481)		(581)	(1,261)		(922)
Adjustment to warranty accrual	[2]	0		94	0		94
Ending warranty accrual		6,712		6,907	6,712		6,907
Ending warranty accrual		6,712		6,907	6,712		6,907
Fee Building Segment [Member]
Beginning warranty accrual		28		178	28		217
Warranty provision		0		0	0		9
Warranty payments		0		(18)	0		(66)
Adjustment to warranty accrual	[2]	0		(18)	0		(18)
Ending warranty accrual		28		142	28		142
Ending warranty accrual		$ 28		$ 142	$ 28		$ 142
[1]	Included in the amount at June 30, 2020 and December 31, 2019 is approximately $1.8 million and $1.9 million, respectively, of warranty liabilities estimated to be recovered by our insurance policies.
[2]	During the 2019 second quarter, we recorded an adjustment of $0.1 million to our warranty accrual for homebuilding projects due to higher expected warranty expenditures which is included in "Adjustment to warranty accrual" above and resulted in an increase of the same amount to cost of home sales in the accompanying condensed consolidated statement of operations. Also during the 2019 second quarter, the Company recorded an adjustment of $18,000 due to lower experience rate of expected warranty expenditures for fee building projects which is included in "Adjustment to warranty accrual for fee building projects" above and resulted in a reduction of the same amount to cost of fee building sales in the accompanying condensed consolidated statement of operations.

Note 9 - Senior Notes and Uns_3

Note 9 - Senior Notes and Unsecured Revolving Credit Facility (Details Textual) - USD ($)	Apr. 15, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 26, 2020	Jun. 25, 2020	Dec. 31, 2019	May 04, 2017	Mar. 17, 2017
Early Repayment of Senior Debt				$ 9,825,000	$ 10,856,000
Gain (Loss) on Extinguishment of Debt, Total		$ 702,000	$ 552,000	579,000	969,000
Proceeds from Paycheck Protection Program Under CARES Act	$ 7,000,000
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 60,000,000	$ 130,000,000
Line of Credit Facility, Net Worth Covenant						150,000,000	180,000,000
Long-term Line of Credit, Total		$ 0		$ 0				$ 0
Line of Credit Facility, Interest Rate at Period End		5.00%		5.00%
Revolving Credit Facility [Member] | Other Assets [Member]
Debt Issuance Costs, Net, Total		$ 500,000		$ 500,000
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate				3.50%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate				4.50%
Accordion Feature [Member]
Line of Credit Facility, Maximum Borrowing Capacity						150,000,000	$ 200,000,000
Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity		10,000,000		$ 10,000,000
Letters of Credit Outstanding, Amount		$ 0		$ 0				$ 0
Net Leverage Ratio, Greater Than 55% [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Quarterly Repurchases						0
Net Leverage Ratio, Less Than or Equal to 55% [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Quarterly Repurchases						5,000,000
Net Leverage Ratio Less Than or Equal to 50% [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Quarterly Repurchases						$ 10,000,000
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Debt Instrument, Face Amount										$ 250,000,000
Debt Instrument, Interest Rate, Stated Percentage		7.25%		7.25%				7.25%		7.25%
Percent of Debt Instrument Face Amount, Value Issued										98.961%
Debt Instrument, Interest Rate, Effective Percentage										7.50%
Debt Instrument, Unamortized Discount, Total		$ 800,000		$ 800,000				$ 1,100,000
Debt Instrument, Unamortized Premium, Total		600,000		600,000				900,000
Debt Issuance Costs, Net, Total		$ 2,200,000		$ 2,200,000				$ 3,000,000
Percent of Consolidated Net Income, General Basket Limitation for Restricted Payments to be Made		50.00%		50.00%
Percent of Net Cash Proceeds From Qualified Equity Offerings, General Basket Limitation for Restricted Payments to be Made		100.00%		100.00%
Percent of Consolidated Tangible Net Assets, General Basket Limitation for Restricted Payments to be Made		15.00%		15.00%
General Basket, Value		$ 15,000,000		$ 15,000,000
Extinguishment of Debt, Amount		5,800,000		10,500,000
Early Repayment of Senior Debt		5,000,000	6,300,000	9,800,000	10,900,000
Gain (Loss) on Extinguishment of Debt, Total		700,000		600,000	1,000,000
Write off of Deferred Debt Issuance Cost		49,000	90,000	95,000	160,000
Debt Instrument, Repurchased and Retired, Face Amount			$ 7,000,000		$ 12,000,000
Senior Notes [Member] | Senior Notes Due 2022, Additional [Member]
Debt Instrument, Face Amount									$ 75,000,000
Debt Instrument, Interest Rate, Stated Percentage									7.25%
Percent of Debt Instrument Face Amount, Value Issued									102.75%
Debt Instrument, Interest Rate, Effective Percentage									6.438%
Debt Instrument, Unamortized Discount, Total		800,000		800,000
Debt Instrument, Unamortized Premium, Total		600,000		600,000
Debt Issuance Costs, Net, Total		2,200,000		2,200,000
Existing or Future Bank Credit Facilities [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 260,000,000		$ 260,000,000

Note 9 - Senior Notes and Uns_4

Note 9 - Senior Notes and Unsecured Revolving Credit Facility - Indebtedness (Details) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
7.25% Senior Notes due 2022, net		$ 295,124	$ 304,832
Total Indebtedness		295,124	304,832
Revolving Credit Facility [Member]
Long-term Line of Credit, Total		0	0
Senior Notes Due 2022 [Member] | Senior Notes [Member]
7.25% Senior Notes due 2022, net	[1]	$ 295,124	$ 304,832
[1]	The carrying value for the Senior Notes, as presented at June 30, 2020, is net of the unamortized discount of $0.8 million, unamortized premium of $0.6 million, and unamortized debt issuance costs of $2.2 million. The carrying value for the Senior Notes, as presented at December 31, 2019, is net of the unamortized discount of $1.1 million, unamortized premium of $0.9 million, and unamortized debt issuance costs of $3.0 million. The unamortized discount, unamortized premium and debt issuance costs are not factored into the estimated fair value.

Note 9 - Senior Notes and Uns_5

Note 9 - Senior Notes and Unsecured Revolving Credit Facility - Indebtedness (Details) (Parentheticals)	Jun. 30, 2020	Dec. 31, 2019	Mar. 17, 2017
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Debt Instrument, Interest Rate, Stated Percentage	7.25%	7.25%	7.25%

Note 10 - Fair Value Disclosu_3

Note 10 - Fair Value Disclosures (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Impairment of Real Estate	$ 19,000	$ 0	$ 19,000	$ 0
Impaired Inventory, Ending Balance	79,033	0	79,033	0
Unconsolidated Joint Ventures [Member]
Equity Method Investment, Other than Temporary Impairment	20,000	$ 0	22,300	$ 0
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Debt Instrument, Unamortized Discount, Total	800		800		$ 1,100
Debt Instrument, Unamortized Premium, Total	600		600		900
Debt Issuance Costs, Net, Total	$ 2,200		$ 2,200		$ 3,000

Note 10 - Fair Value Disclosu_4

Note 10 - Fair Value Disclosures - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Senior notes, net		$ 295,124	$ 304,832
Revolving Credit Facility [Member]
Unsecured revolving credit facility, carrying amount		0	0
Unsecured revolving credit facility, fair value		0	0
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Senior notes, net	[1]	295,124	$ 304,832
Senior Notes, fair value	[1]	$ 274,458
[1]	The carrying value for the Senior Notes, as presented at June 30, 2020, is net of the unamortized discount of $0.8 million, unamortized premium of $0.6 million, and unamortized debt issuance costs of $2.2 million. The carrying value for the Senior Notes, as presented at December 31, 2019, is net of the unamortized discount of $1.1 million, unamortized premium of $0.9 million, and unamortized debt issuance costs of $3.0 million. The unamortized discount, unamortized premium and debt issuance costs are not factored into the estimated fair value.

Note 10 - Fair Value Disclosu_5

Note 10 - Fair Value Disclosures - Fair Value of Financial Instruments (Details) (Parentheticals)	Jun. 30, 2020	Dec. 31, 2019	Mar. 17, 2017
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Interest rate	7.25%	7.25%	7.25%

Note 11 - Commitments and Con_3

Note 11 - Commitments and Contingencies (Details Textual) - USD ($)		3 Months Ended			6 Months Ended
		Jun. 30, 2020		Jun. 30, 2019	Jun. 30, 2020		Jun. 30, 2019	Dec. 31, 2019
Estimated Litigation Liability	[1]	$ 6,000,000			$ 6,000,000			$ 10,900,000
Insurance Settlements Receivable	[2]	6,000,000			6,000,000			10,900,000
Proceeds from Insurance Settlement, Operating Activities					4,700,000
Increase (Decrease) in Litigation Reserve					(200,000)
Operating Lease, Right-of-Use Asset		2,277,000			2,277,000			1,988,000
Operating Lease, Liability, Total		2,434,000	[3]		2,434,000	[3]		2,243,000
Short-term Lease, Cost		30,000		$ 200,000	100,000		$ 500,000
Sublease Income		$ 59,000		$ 49,000	$ 118,000		$ 98,000
Operating Lease, Weighted Average Remaining Lease Term (Year)		3 years			3 years
Operating Lease, Weighted Average Discount Rate, Percent		4.70%			4.70%
Surety Bond [Member]
Loss Contingency, Range of Possible Loss, Portion Not Accrued		$ 41,700,000			$ 41,700,000			47,600,000
Loss Contingency, Estimated Remaining Costs of Work to be Completed		12,900,000			12,900,000			29,100,000
Corporate Joint Venture [Member] | Loans Payable [Member]
Related Party Transaction, Guarantor Obligations Underlying Asset Class, Guaranteed		2,600,000			2,600,000			5,800,000
Corporate Joint Venture [Member] | Financial Guarantee [Member]
Long-term Debt, Gross		$ 11,600,000			$ 11,600,000			28,600,000
Ordinary Course Litigation [Member]
Estimated Litigation Liability								5,900,000
IBNR Construction Defect Claims [Member]
Estimated Litigation Liability								$ 5,000,000
[1]	During 2019, we recorded litigation reserves totaling $5.9 million related to ordinary course litigation which developed and became probable and estimable within the 2019 fourth quarter. Further, as a result of the development of the construction defect related claims within the litigation reserve and their impact to the Company’s litigation reserve estimates for IBNR future construction defect claims, we recorded an additional $5.0 million of IBNR construction defect claim reserves resulting in aggregate litigation reserves totaling $10.9 million as of December 31, 2019. Because the self-insured retention deductibles had been met for each claim covered by the $5.9 million reserve, and the self-insured retention deductibles are expected to be met for the $5.0 million IBNR construction defect claim reserves, the Company recorded estimated insurance receivables of $10.9 million offsetting the litigation reserves as of December 31, 2019. During the six months ended June 30, 2020, $4.7 million was paid by insurance related to two claims and the Company also reduced its litigation reserve estimate by $0.2 million for one of these claims, resulting in a litigation reserve balance of $6.0 million at June 30, 2020, with a corresponding decrease recorded within insurance receivables. Please refer to Note 7.
[2]	At December 31, 2019, the Company recorded insurance receivables of $10.9 million in connection with $10.9 million of litigation reserves recorded. During the six months ended June 30, 2020, $4.7 million was paid by insurance related to two claims and the Company also reduced its insurance receivable estimate by $0.2 million for one of these claims, resulting in an insurance receivable balance of $6.0 million at June 30, 2020, with a corresponding decrease recorded within litigation reserves. For more information, please refer to Note 8.
[3]	The weighted average remaining lease term and weighted average incremental borrowing rate used in calculating our lease liabilities were 3.0 years and 4.7%, respectively at June 30, 2020.

Note 11 - Commitments and Con_4

Note 11 - Commitments and Contingencies - Lease Costs and Cash Flow Information for Leases (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Lease costs included in general and administrative expenses		$ 314	$ 265	$ 625	$ 620
Lease costs included in real estate inventories		111	207	208	369
Lease costs included in selling and marketing expenses		59	17	98	34
Net lease cost (1)	[1]	484	489	931	1,023
Lease cash flows (included in operating cash flows)(1)	[1]	$ 518	$ 563	$ 1,016	$ 1,053
[1]	Does not include the cost of short-term leases with terms of less than one year which totaled approximately $30,000, $0.1 million, $0.2 million and $0.5 million for the three and six months ended June 30, 2020, and 2019, respectively, or the benefit from a sublease agreement of one of our office spaces which totaled approximately $59,000, $118,000, $49,000 and $98,000 for the three and six months ended June 30, 2020 and 2019, respectively.

Note 11 - Commitments and Con_5

Note 11 - Commitments and Contingencies - Future Minimum Lease Payments Under Operating Leases (Details) - USD ($) $ in Thousands		Jun. 30, 2020		Dec. 31, 2019
Remaining for 2020		$ 885
2021		852
2022		230
2023		220
2024		210
Thereafter		124
Total lease payments(1)	[1]	2,521
Less: Interest(2)	[2]	87
Operating Lease, Liability, Total		$ 2,434	[3]	$ 2,243
[1]	Lease payments include options to extend lease terms that are reasonably certain of being exercised.
[2]	Our leases do not provide a readily determinable implicit rate. Therefore, we utilized our incremental borrowing rate for such leases to determine the present value of lease payments at the lease commencement date.
[3]	The weighted average remaining lease term and weighted average incremental borrowing rate used in calculating our lease liabilities were 3.0 years and 4.7%, respectively at June 30, 2020.

Note 12 - Related Party Trans_2

Note 12 - Related Party Transactions (Details Textual) - USD ($)	2 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended		48 Months Ended
	May 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Dec. 31, 2019	Jun. 26, 2019	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Due from Affiliates			$ 140,000		$ 140,000		$ 140,000	$ 238,000
Equity Method Investments			12,931,000		12,931,000		12,931,000	30,217,000
Revenue from Contract with Customer, Including Assessed Tax			98,960,000	$ 162,749,000	230,993,000	$ 281,597,000
Cost of Goods and Services Sold, Total			106,211,000	145,295,000	226,577,000	251,132,000
Bedford 2 [Member]
Equity Method Investment, Other than Temporary Impairment					$ 2,300,000
Joint Venture, Option Rights, Percentage					30.00%
Bedford 2 [Member] | Forecast [Member]
Proceeds from Sale of Equity Method Investments		$ 5,100,000
Unconsolidated Joint Ventures [Member]
Equity Method Investment, Other than Temporary Impairment			20,000,000	0	$ 22,300,000	0
Unconsolidated Joint Ventures [Member] | Forecast [Member]
Proceeds from Sale of Equity Method Investments		$ 5,100,000
Interest Income on Note to Joint Venture [Member] | Encore McKinley [Member]
Debt Instrument, Interest Rate, Stated Percentage											10.00%
Corporate Joint Venture [Member] | Construction-related Costs [Member]
Related Party Transaction, Expenses from Transactions with Related Party			1,000,000	1,500,000	2,200,000	3,200,000
Due from Affiliates			100,000		100,000		100,000	200,000
Corporate Joint Venture [Member] | Management Fees [Member]
Due from Affiliates			4,000		4,000		$ 4,000	0
Revenue from Related Parties			$ 200,000	600,000	$ 600,000	1,200,000
Related Party [Member]
Common Stock Beneficial Ownership Percentage, Significant Amount Threshold			10.00%		10.00%		10.00%
TNHC Merdian Investors LLC, and TNHC Russel Ranch LLC [Member]
Equity Method Investments			$ 300,000		$ 300,000		$ 300,000	13,700,000
IHP [Member] | LLC Agreement of Russell Ranch [Member]
Joint Venture Agreement, Additional Required Capital Agreed to Fund				$ 26,000,000		$ 26,000,000
Joint Venture Agreement, Additional Required Capital Agreed to Fund, Percentage Funded by Related Party				50.00%		50.00%
Joint Venture Agreement, Additional Required Capital Agreed to Fund, Percentage Funded by Entity				50.00%		50.00%
TL Fab LP [Member] | Trade Payment [Member] | Unconsolidated Joint Ventures [Member]
Related Party Transaction, Amounts of Transaction			7,000	$ 22,000	7,000	$ 55,000
Accounts Payable, Related Parties			0		0		0	0
TNHC-HW Cannery LLC [Member]
Due from Affiliates			0		0		0	15,000
Deferred Profit From Lot Transactions			200,000		200,000		200,000	200,000
Land Owner Fees Reimbursed			15,000	0	15,000	0
Consultant Davis [Member]
Due from Affiliates			0		0		0	0
Consultant Davis [Member] | Fee Building Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax				10,000		500,000
Cost of Goods and Services Sold, Total				13,000		500,000
Consultant Davis [Member] | General Contractor [Member]
Revenue from Contract with Customer, Including Assessed Tax				0		15,000
Consultant Davis [Member] | Monthly Consulting Fee [Member]
Related Party Transaction, Amounts of Transaction							1,000		$ 5,000
Accounts Payable, Related Parties			0		0		0
Consultant Stelmar [Member] | Monthly Consulting Fee [Member]
Related Party Transaction, Amounts of Transaction			0	$ 18,000	0	$ 36,000
Consultant Redwitz [Member]
Related Party Transaction, Amounts of Transaction	$ 5,000
Consultant Redwitz [Member] | Monthly Consulting Fee [Member]
Related Party Transaction, Amounts of Transaction					10,000
Accounts Payable, Related Parties			0		0		0
10% Common Stock Affiliate [Member] | Northern CA Phased Takedown [Member]
Purchase Options, Land												$ 16,100,000
Master Marketing Fees					500,000
10% Common Stock Affiliate [Member] | Northern CA Rolling Option [Member]
Land Owner Fees Reimbursed					200,000
Estimated Purchase Price								$ 56,300,000
Percentage of Optioned Lots Taken Down				10.00%		10.00%
Percentage of Lots Agreed to Be Purchased by Unrelated Third Party								67.00%
Number of Lots Remaining to Purchase From Affiliate								0
Deposit Assets, Total			$ 0		0		$ 0
Option Payment					3,000,000
Amounts Paid for Purchase of Lots					$ 18,000,000
10% Common Stock Affiliate [Member] | Arizona Master Plan [Member]
Purchase Options, Land											$ 3,800,000
Percentage of Optioned Lots Taken Down			11.00%		11.00%		11.00%
Deposits Assets			$ 300,000		$ 300,000		$ 300,000
Bedford [Member]
Purchase Options, Land			10,000,000		10,000,000		10,000,000
Deposits Assets			1,500,000		1,500,000		1,500,000
Board Affiliate [Member] | Bedford [Member]
Purchase Options, Land										$ 9,300,000
Master Marketing Fees					100,000
Percentage of Optioned Lots Taken Down				12.00%		12.00%
Board Affiliate [Member] | Bedford 2 [Member]
Purchase Options, Land			$ 10,500,000		10,500,000		$ 10,500,000
Master Marketing Fees					$ 200,000
Percentage of Optioned Lots Taken Down			92.00%	42.00%	92.00%	42.00%	92.00%
Deposits Assets			$ 1,400,000		$ 1,400,000		$ 1,400,000
Deposit Assets Outstanding			$ 0		$ 0		$ 0

Note 13 - Stock-based Compens_3

Note 13 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	May 22, 2018	May 24, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			10 years
Share-based Payment Arrangement, Expense	$ 521	$ 523	$ 1,110	$ 1,089
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 3,500		$ 3,500
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			2 years
Performance Shares [Member]
Share-based Payment Arrangement, Expense				$ 0
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			1 year
Minimum [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			50.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			3 years
Maximum [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			150.00%
The 2014 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Plan Term (Year)			10 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	1,644,875		1,644,875
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	61,443		61,443
The 2016 Incentive Plan, Amended and Restated [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)					2,100,000	800,000
The 2016 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	414,737		414,737

Note 13 - Stock-based Compens_4

Note 13 - Stock-based Compensation - Common Stock Option Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Common Stock Options Outstanding, number of shares (in shares)	1,068,017	821,470
Common Stock Options Outstanding, weighted-average exercise price per share (in dollars per share)	$ 9.78	$ 11
Common Stock Options Granted, number of shares (in shares)	161,479	249,283
Common Stock Options Granted, weighted-average exercise price per share (in dollars per share)	$ 5.36	$ 5.76
Common Stock Options Exercised, number of shares (in shares)	0	0
Common Stock Options Exercised, weighted-average exercise price per share (in dollars per share)	$ 0	$ 0
Common Stock Options Forfeited, number of shares (in shares)	0	(2,736)
Common Stock Options Forfeited, weighted-average exercise price per share (in dollars per share)	$ 0	$ 11
Common Stock Options Outstanding, number of shares (in shares)	1,229,496	1,068,017
Common Stock Options Outstanding, weighted-average exercise price per share (in dollars per share)	$ 9.20	$ 9.78
Common Stock Options Exercisable, number of shares (in shares)	901,829	818,734
Common Stock Options Exercisable, weighted-average exercise price per share (in dollars per share)	$ 10.52	$ 11

Note 13 - Stock-based Compens_5

Note 13 - Stock-based Compensation - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Restricted Stock Units Outstanding, number of shares (in shares)	592,116	469,227
Restricted Stock Units Outstanding, weighted-average grant date fair value per share (in dollars per share)	$ 6.36	$ 10.75
Restricted Stock Units Granted, number of shares (in shares)	358,869	230,774
Restricted Stock Units Granted, weighted-average grant date fair value per share (in dollars per share)	$ 4.78	$ 5.28
Restricted Stock Units Vested, number of shares (in shares)	(244,812)	(277,401)
Restricted Stock Units Vested, weighted-average grant date fair value per share (in dollars per share)	$ 7.61	$ 10.50
Restricted Stock Units Forfeited, number of shares (in shares)	(428)	(48,178)
Restricted Stock Units Forfeited, weighted-average grant date fair value per share (in dollars per share)	$ 11.68	$ 10.91
Restricted Stock Units Outstanding, number of shares (in shares)	705,745	374,422
Restricted Stock Units Outstanding, weighted-average grant date fair value per share (in dollars per share)	$ 5.12	$ 7.54

Note 13 - Stock-based Compens_6

Note 13 - Stock-based Compensation - Performance Share Unit Activity (Details) - Performance Shares [Member] - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Restricted Stock Units Outstanding, number of shares (in shares)	0	125,422
Restricted Stock Units Outstanding, weighted-average grant date fair value per share (in dollars per share)	$ 0	$ 11.68
Restricted Stock Units Granted, number of shares (in shares)	0	0
Restricted Stock Units Granted, weighted-average grant date fair value per share (in dollars per share)	$ 0	$ 0
Performance Share Units Vested, number of shares (in shares)	0	0
Restricted Stock Units Vested, weighted-average grant date fair value per share (in dollars per share)	$ 0	$ 0
Restricted Stock Units Forfeited, number of shares (in shares)	0	(26,882)
Restricted Stock Units Forfeited, weighted-average grant date fair value per share (in dollars per share)	$ 0	$ 11.68
Restricted Stock Units Outstanding, number of shares (in shares)	0	98,540
Restricted Stock Units Outstanding, weighted-average grant date fair value per share (in dollars per share)	$ 0	$ 11.68

Note 13 - Stock-based Compens_7

Note 13 - Stock-based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement, Expense	$ 521	$ 523	$ 1,110	$ 1,089
Stock Options [Member]
Share-based Payment Arrangement, Expense	81	50	145	72
Restricted Stock Units and Performance Share Units [Member]
Share-based Payment Arrangement, Expense	$ 440	$ 473	$ 965	$ 1,017

Note 13 - Stock-based Compens_8

Note 13 - Stock-based Compensation - Valuation Assumptions for Common Stock Options Granted (Details) - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Expected term (in years) (Year)	6 years	6 years
Expected volatility	41.80%	39.90%
Risk-free interest rate	1.40%	2.50%
Expected dividends	0.00%	0.00%
Weighted-average grant date fair value per share (in dollars per share)	$ 2.24	$ 2.43

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Expense (Benefit), Total	$ (16,929)		$ 974	$ (26,866)	$ 310
Income Tax Expense (Benefit), Change in Tax Law	(1,800)	$ (3,900)
Income Tax Expense (Benefit), Discrete Tax Items				9,900	300
Income Tax Expense (Benefit), Exploration Abandonment		5,800
Impairment of Long-Lived Assets to be Disposed of	$ 94	$ 14,000	$ 14	$ 14,130	$ 19

Note 14 - Income Taxes - Compon

Note 14 - Income Taxes - Components of Deferred Income Tax Asset (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Net operating loss	$ 8,080	$ 3,848
Reserves and accruals	2,637	2,563
Share based compensation	1,479	1,392
Inventory	4,278	3,536
Investments in joint ventures	392	7,080
Other	23	27
Capital loss	140	0
Valuation allowance	(140)	0
Depreciation and amortization	(392)	(393)
Right of use asset	(631)	(550)
Deferred tax asset, net	$ 15,866	$ 17,503

Note 15 - Segment Information_2

Note 15 - Segment Information (Details Textual)	6 Months Ended
	Jun. 30, 2020
Number of Reportable Segments	3
Home Building Segment [Member]
Number of Reportable Segments	2

Note 15 - Segment Information -

Note 15 - Segment Information - Financial Information Relating to Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Revenues	$ 98,960	$ 162,749	$ 230,993	$ 281,597
Pretax income (loss)	(41,222)	2,565	(59,635)	(86)
Total assets	541,594		541,594		$ 603,189
Corporate, Non-Segment [Member]
Total assets	93,213		93,213		93,583
Home Building Segment [Member]
Total assets	443,889		443,889		498,413
Fee Building Segment [Member]
Total assets	4,492		4,492		11,193
California 1 [Member] | Home Building Segment [Member]
Pretax income (loss)	17,800
Total assets	379,199		379,199		416,179
Arizona 1 [Member] | Home Building Segment [Member]
Pretax income (loss)	1,200
Total assets	64,690		64,690		$ 82,234
Home Building [Member]
Revenues	77,757	140,464	173,416	239,650
Pretax income (loss)	(41,430)	2,050	(60,573)	(995)
Home Building [Member] | California 1 [Member]
Revenues	71,597	132,830	154,877	216,162
Pretax income (loss)	(38,238)	2,846	(42,689)	279
Home Building [Member] | Arizona 1 [Member]
Revenues	6,160	7,634	18,539	23,488
Pretax income (loss)	(3,192)	(796)	(17,884)	(1,274)
Land [Member]
Revenues	10	0	157	0
Land [Member] | California 1 [Member]
Revenues	10	0	157	0
Homebuilding and Land [Member]
Revenues	77,767	140,464	173,573	239,650
Construction [Member]
Revenues	21,193	22,285	57,420	41,947
Pretax income (loss)	$ 208	$ 515	$ 938	$ 909

Note 16 - Supplemental Disclo_3

Note 16 - Supplemental Disclosure of Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Interest paid, net of amounts capitalized	$ 1,398	$ 0
Income taxes paid	$ 0	$ 240

Note 17 - Supplemental Guaran_3

Note 17 - Supplemental Guarantor Information (Details Textual)	Jun. 30, 2020
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Debt Instrument, Conditions of Guarantee Release, Percentage of Tangible Assets Attributable to Immaterial Subsidiaries, Threshold for No Release	5.00%

Note 17 - Supplemental Guaran_4

Note 17 - Supplemental Guarantor Information - Supplemental Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 85,588		$ 79,314	$ 48,224
Restricted cash	144		117
Contracts and accounts receivable	7,112		15,982
Intercompany receivables	0		0
Due from Affiliates	140		238
Real estate inventories	370,949		433,938
Investment in and advances to unconsolidated joint ventures	12,931		30,217
Investment in subsidiaries	0		0
Deferred tax asset, net	15,866		17,503
Other assets	48,864		25,880
Total assets	541,594		603,189
Liabilities and equity
Accounts payable	16,112		25,044
Accrued expenses and other liabilities	33,280		40,554
Intercompany payables	0		0
Due to affiliates	0		0
Senior notes, net	295,124		304,832
Total liabilities	344,516		370,430
Total stockholders' equity	196,966		232,647
Non-controlling interest in subsidiary	112		112
Total equity	197,078	$ 222,336	232,759	$ 239,193	$ 237,079	$ 240,030
Total liabilities and equity	541,594		603,189
Consolidation, Eliminations [Member]
Assets
Cash and cash equivalents	0		0
Restricted cash	0		0
Contracts and accounts receivable	(417)		(424)
Intercompany receivables	(259,822)		(258,372)
Due from Affiliates	0		0
Real estate inventories	0		0
Investment in and advances to unconsolidated joint ventures	0		0
Investment in subsidiaries	(150,811)		(198,448)
Deferred tax asset, net	0		0
Other assets	0		0
Total assets	(411,050)		(457,244)
Liabilities and equity
Accounts payable	0		0
Accrued expenses and other liabilities	(413)		(421)
Intercompany payables	(259,822)		(258,372)
Due to affiliates	(4)		(3)
Senior notes, net	0		0
Total liabilities	(260,239)		(258,796)
Total stockholders' equity	(150,811)		(198,448)
Non-controlling interest in subsidiary	0		0
Total equity	(150,811)		(198,448)
Total liabilities and equity	(411,050)		(457,244)
Parent Company [Member]
Assets
Cash and cash equivalents	39,871		66,166
Restricted cash	0		0
Contracts and accounts receivable	4		3
Intercompany receivables	259,822		258,372
Due from Affiliates	1		0
Real estate inventories	0		0
Investment in and advances to unconsolidated joint ventures	0		0
Investment in subsidiaries	150,811		198,448
Deferred tax asset, net	15,237		17,003
Other assets	37,820		9,505
Total assets	503,566		549,497
Liabilities and equity
Accounts payable	127		68
Accrued expenses and other liabilities	11,349		11,950
Intercompany payables	0		0
Due to affiliates	0		0
Senior notes, net	295,124		304,832
Total liabilities	306,600		316,850
Total stockholders' equity	196,966		232,647
Non-controlling interest in subsidiary	0		0
Total equity	196,966		232,647
Total liabilities and equity	503,566		549,497
Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents	45,543		12,978
Restricted cash	144		117
Contracts and accounts receivable	7,525		16,403
Intercompany receivables	0		0
Due from Affiliates	139		238
Real estate inventories	370,949		433,938
Investment in and advances to unconsolidated joint ventures	12,931		30,217
Investment in subsidiaries	0		0
Deferred tax asset, net	629		500
Other assets	11,017		16,340
Total assets	448,877		510,731
Liabilities and equity
Accounts payable	15,985		24,973
Accrued expenses and other liabilities	22,318		28,999
Intercompany payables	259,822		258,372
Due to affiliates	4		3
Senior notes, net	0		0
Total liabilities	298,129		312,347
Total stockholders' equity	150,748		198,384
Non-controlling interest in subsidiary	0		0
Total equity	150,748		198,384
Total liabilities and equity	448,877		510,731
Non-Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents	174		170
Restricted cash	0		0
Contracts and accounts receivable	0		0
Intercompany receivables	0		0
Due from Affiliates	0		0
Real estate inventories	0		0
Investment in and advances to unconsolidated joint ventures	0		0
Investment in subsidiaries	0		0
Deferred tax asset, net	0		0
Other assets	27		35
Total assets	201		205
Liabilities and equity
Accounts payable	0		3
Accrued expenses and other liabilities	26		26
Intercompany payables	0		0
Due to affiliates	0		0
Senior notes, net	0		0
Total liabilities	26		29
Total stockholders' equity	63		64
Non-controlling interest in subsidiary	112		112
Total equity	175		176
Total liabilities and equity	$ 201		$ 205

Note 17 - Supplemental Guaran_5

Note 17 - Supplemental Guarantor Information - Supplemental Condensed Consolidating Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Revenues	$ 98,960		$ 162,749	$ 230,993	$ 281,597
Cost of Sales:
Cost of Sales	106,211		145,295	226,577	251,132
Impairments	19,000		0	19,000	0
Gross Margin:
Gross margin	(7,251)		17,454	4,416	30,465
Selling and marketing expenses	(6,386)		(9,683)	(13,852)	(18,362)
General and administrative expenses	(6,892)		(5,841)	(12,915)	(13,232)
Equity in net income (loss) of unconsolidated joint ventures	(19,962)		185	(21,899)	369
Equity in net income (loss) of subsidiaries	0		0	0	0
Interest expense	(1,271)		0	(1,989)	0
Project abandonment costs	(94)	$ (14,000)	(14)	(14,130)	(19)
Gain on early extinguishment of debt	702		552	579	969
Other income (expense), net	(68)		(88)	155	(276)
Pretax income (loss)	(41,222)		2,565	(59,635)	(86)
(Provision) benefit for income taxes	16,929		(974)	26,866	(310)
Net loss	(24,293)		1,591	(32,769)	(396)
Net (income) loss attributable to non-controlling interest	0		(19)	0	(19)
Net income (loss) attributable to The New Home Company Inc.	(24,293)		1,572	(32,769)	(415)
Equity in net income of subsidiaries	0		0	0	0
Gain (Loss) on Extinguishment of Debt, Total	702		552	579	969
Other income (expense), net			(88)
Net income attributable to non-controlling interest	0		(19)	0	(19)
Consolidation, Eliminations [Member]
Revenues:
Revenues	0		0	0	0
Cost of Sales:
Cost of Sales	0		0	0	0
Gross Margin:
Gross margin	0		0	0	0
Selling and marketing expenses	0		0	0	0
General and administrative expenses	0		0	0	0
Equity in net income (loss) of unconsolidated joint ventures	0		0	0	0
Equity in net income (loss) of subsidiaries	25,858		(1,087)	36,388	625
Interest expense	0			0
Project abandonment costs	0		0	0	0
Gain on early extinguishment of debt	0		0	0	0
Other income (expense), net	0			0	0
Pretax income (loss)	25,858		(1,087)	36,388	625
(Provision) benefit for income taxes	0		0	0	0
Net loss	25,858		(1,087)	36,388	625
Net (income) loss attributable to non-controlling interest	0		0	0	0
Net income (loss) attributable to The New Home Company Inc.	25,858		(1,087)	36,388	625
Equity in net income of subsidiaries	25,858		(1,087)	36,388	625
Gain (Loss) on Extinguishment of Debt, Total	0		0	0	0
Other income (expense), net			0
Net income attributable to non-controlling interest	0		0	0	0
Parent Company [Member]
Revenues:
Revenues	0		0	0	0
Cost of Sales:
Cost of Sales	0		0	0	0
Gross Margin:
Gross margin	0		0	0	0
Selling and marketing expenses	0		0	0	0
General and administrative expenses	(960)		617	(739)	51
Equity in net income (loss) of unconsolidated joint ventures	0		0	0	0
Equity in net income (loss) of subsidiaries	(25,858)		1,087	(36,388)	(625)
Interest expense	0			0
Project abandonment costs	0		0	0	0
Gain on early extinguishment of debt	702		552	579	969
Other income (expense), net	(38)			155	(168)
Pretax income (loss)	(26,154)		2,150	(36,393)	227
(Provision) benefit for income taxes	1,861		(578)	3,624	(642)
Net loss	(24,293)		1,572	(32,769)	(415)
Net (income) loss attributable to non-controlling interest	0		0	0	0
Net income (loss) attributable to The New Home Company Inc.	(24,293)		1,572	(32,769)	(415)
Equity in net income of subsidiaries	(25,858)		1,087	(36,388)	(625)
Gain (Loss) on Extinguishment of Debt, Total	702		552	579	969
Other income (expense), net			(106)
Net income attributable to non-controlling interest	0		0	0	0
Guarantor Subsidiaries [Member]
Revenues:
Revenues	98,960		162,749	230,993	281,597
Cost of Sales:
Cost of Sales	106,211		145,352	226,577	251,189
Gross Margin:
Gross margin	(7,251)		17,397	4,416	30,408
Selling and marketing expenses	(6,386)		(9,683)	(13,852)	(18,362)
General and administrative expenses	(5,932)		(6,458)	(12,176)	(13,283)
Equity in net income (loss) of unconsolidated joint ventures	(19,962)		185	(21,899)	369
Equity in net income (loss) of subsidiaries	0		0	0	0
Interest expense	(1,271)			(1,989)
Project abandonment costs	(94)		(14)	(14,130)	(19)
Gain on early extinguishment of debt	0		0	0	0
Other income (expense), net	(30)			0	(108)
Pretax income (loss)	(40,926)		1,445	(59,630)	(995)
(Provision) benefit for income taxes	15,068		(396)	23,242	332
Net loss	(25,858)		1,049	(36,388)	(663)
Net (income) loss attributable to non-controlling interest	0		0	0	0
Net income (loss) attributable to The New Home Company Inc.	(25,858)		1,049	(36,388)	(663)
Equity in net income of subsidiaries	0		0	0	0
Gain (Loss) on Extinguishment of Debt, Total	0		0	0	0
Other income (expense), net			18
Net income attributable to non-controlling interest	0		0	0	0
Non-Guarantor Subsidiaries [Member]
Revenues:
Revenues	0		0	0	0
Cost of Sales:
Cost of Sales	0		(57)	0	(57)
Gross Margin:
Gross margin	0		57	0	57
Selling and marketing expenses	0		0	0	0
General and administrative expenses	0		0	0	0
Equity in net income (loss) of unconsolidated joint ventures	0		0	0	0
Equity in net income (loss) of subsidiaries	0		0	0	0
Interest expense	0			0
Project abandonment costs	0		0	0	0
Gain on early extinguishment of debt	0		0	0	0
Other income (expense), net	0			0	0
Pretax income (loss)	0		57	0	57
(Provision) benefit for income taxes	0		0	0	0
Net loss	0		57	0	57
Net (income) loss attributable to non-controlling interest	0		(19)	0	(19)
Net income (loss) attributable to The New Home Company Inc.	0		38	0	38
Equity in net income of subsidiaries	0		0	0	0
Gain (Loss) on Extinguishment of Debt, Total	0		0	0	0
Other income (expense), net			0
Net income attributable to non-controlling interest	0		(19)	0	(19)
Home Building [Member]
Revenues:
Revenues	77,757		140,464	173,416	239,650
Cost of Sales:
Cost of Sales	66,216		123,525	150,938	210,094
Impairments	19,000		0	19,000	0
Gross Margin:
Gross margin	(7,459)		16,939	3,478	29,556
Pretax income (loss)	(41,430)		2,050	(60,573)	(995)
Home Building [Member] | Consolidation, Eliminations [Member]
Revenues:
Revenues	0		0	0	0
Cost of Sales:
Cost of Sales	0		0	0	0
Impairments	0			0
Gross Margin:
Gross margin	0		0	0	0
Home Building [Member] | Parent Company [Member]
Revenues:
Revenues	0		0	0	0
Cost of Sales:
Cost of Sales	0		0	0	0
Impairments	0			0
Gross Margin:
Gross margin	0		0	0	0
Home Building [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	77,757		140,464	173,416	239,650
Cost of Sales:
Cost of Sales	66,216		123,582	150,938	210,151
Impairments	19,000			19,000
Gross Margin:
Gross margin	(7,459)		16,882	3,478	29,499
Home Building [Member] | Non-Guarantor Subsidiaries [Member]
Revenues:
Revenues	0		0	0	0
Cost of Sales:
Cost of Sales	0		(57)	0	(57)
Impairments	0			0
Gross Margin:
Gross margin	0		57	0	57
Land [Member]
Revenues:
Revenues	10		0	157	0
Cost of Sales:
Cost of Sales	10		0	157	0
Gross Margin:
Gross margin	0		0	0	0
Land [Member] | Consolidation, Eliminations [Member]
Revenues:
Revenues	0			0
Cost of Sales:
Cost of Sales	0			0
Gross Margin:
Gross margin	0			0
Land [Member] | Parent Company [Member]
Revenues:
Revenues	0			0
Cost of Sales:
Cost of Sales	0			0
Gross Margin:
Gross margin	0			0
Land [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	10			157
Cost of Sales:
Cost of Sales	10			157
Gross Margin:
Gross margin	0			0
Land [Member] | Non-Guarantor Subsidiaries [Member]
Revenues:
Revenues	0			0
Cost of Sales:
Cost of Sales	0			0
Gross Margin:
Gross margin	0			0
Construction [Member]
Revenues:
Revenues	21,193		22,285	57,420	41,947
Cost of Sales:
Cost of Sales	20,985		21,770	56,482	41,038
Gross Margin:
Gross margin	208		515	938	909
Pretax income (loss)	208		515	938	909
Construction [Member] | Consolidation, Eliminations [Member]
Revenues:
Revenues	0		0	0	0
Cost of Sales:
Cost of Sales	0		0	0	0
Gross Margin:
Gross margin	0		0	0	0
Construction [Member] | Parent Company [Member]
Revenues:
Revenues	0		0	0	0
Cost of Sales:
Cost of Sales	0		0	0	0
Gross Margin:
Gross margin	0		0	0	0
Construction [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	21,193		22,285	57,420	41,947
Cost of Sales:
Cost of Sales	20,985		21,770	56,482	41,038
Gross Margin:
Gross margin	208		515	938	909
Construction [Member] | Non-Guarantor Subsidiaries [Member]
Revenues:
Revenues	0		0	0	0
Cost of Sales:
Cost of Sales	0		0	0	0
Gross Margin:
Gross margin	$ 0		$ 0	$ 0	$ 0

Note 17 - Supplemental Guaran_6

Note 17 - Supplemental Guarantor Information - Supplemental Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Net cash (used in) provided by operating activities	$ 22,023	$ 18,892
Purchases of property and equipment	(143)	(8)
Contributions and advances to unconsolidated joint ventures	(3,847)	(4,120)
Contributions to subsidiaries from corporate	0	0
Distributions of capital from subsidiaries to corporate	0	0
Distributions of capital and repayment of advances from unconsolidated joint ventures	2,370	4,928
Net cash provided by (used in) investing activities	(1,620)	800
Repurchases of senior notes	(9,825)	(10,856)
Contributions to subsidiaries from corporate	0	0
Distributions to corporate from subsidiaries	0	0
Proceeds from note payable	7,036	0
Repayment of note payable	(7,036)	0
Payment of debt issuance costs	(255)	0
Repurchases of common stock	(3,718)	(1,042)
Tax withholding paid on behalf of employees for stock awards	(304)	(488)
Net cash used in financing activities	(14,102)	(13,886)
Net (decrease) increase in cash, cash equivalents and restricted cash	6,301	5,806
Cash, cash equivalents and restricted cash – beginning of period	79,431	42,542
Cash, cash equivalents and restricted cash – end of period	85,732	48,348
Borrowings from credit facility		40,000
Repayments of credit facility		(41,500)
Consolidation, Eliminations [Member]
Net cash (used in) provided by operating activities	(133)	0
Purchases of property and equipment	0	0
Contributions and advances to unconsolidated joint ventures	0	0
Contributions to subsidiaries from corporate	35,690	66,575
Distributions of capital from subsidiaries to corporate	(46,806)	(91,700)
Distributions of capital and repayment of advances from unconsolidated joint ventures	0	0
Net cash provided by (used in) investing activities	(11,116)	(25,125)
Repurchases of senior notes	0	0
Contributions to subsidiaries from corporate	(35,690)	(66,575)
Distributions to corporate from subsidiaries	46,939	91,700
Proceeds from note payable	0
Repayment of note payable	0
Payment of debt issuance costs	0
Repurchases of common stock	0	0
Tax withholding paid on behalf of employees for stock awards	0	0
Net cash used in financing activities	11,249	25,125
Net (decrease) increase in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash – beginning of period	0	0
Cash, cash equivalents and restricted cash – end of period	0	0
Borrowings from credit facility		0
Repayments of credit facility		0
Parent Company [Member]
Net cash (used in) provided by operating activities	(23,225)	(36,110)
Purchases of property and equipment	(84)	(1)
Contributions and advances to unconsolidated joint ventures	0	0
Contributions to subsidiaries from corporate	(35,690)	(66,575)
Distributions of capital from subsidiaries to corporate	46,806	91,700
Distributions of capital and repayment of advances from unconsolidated joint ventures	0	0
Net cash provided by (used in) investing activities	11,032	25,124
Repurchases of senior notes	(9,825)	(10,856)
Contributions to subsidiaries from corporate	0	0
Distributions to corporate from subsidiaries	0	0
Proceeds from note payable	7,036
Repayment of note payable	(7,036)
Payment of debt issuance costs	(255)
Repurchases of common stock	(3,718)	(1,042)
Tax withholding paid on behalf of employees for stock awards	(304)	(488)
Net cash used in financing activities	(14,102)	(13,886)
Net (decrease) increase in cash, cash equivalents and restricted cash	(26,295)	(24,872)
Cash, cash equivalents and restricted cash – beginning of period	66,166	28,877
Cash, cash equivalents and restricted cash – end of period	39,871	4,005
Borrowings from credit facility		40,000
Repayments of credit facility		(41,500)
Guarantor Subsidiaries [Member]
Net cash (used in) provided by operating activities	45,377	54,970
Purchases of property and equipment	(59)	(7)
Contributions and advances to unconsolidated joint ventures	(3,847)	(4,120)
Contributions to subsidiaries from corporate	0	0
Distributions of capital from subsidiaries to corporate	0	0
Distributions of capital and repayment of advances from unconsolidated joint ventures	2,370	4,928
Net cash provided by (used in) investing activities	(1,536)	801
Repurchases of senior notes	0	0
Contributions to subsidiaries from corporate	35,690	66,575
Distributions to corporate from subsidiaries	(46,939)	(91,700)
Proceeds from note payable	0
Repayment of note payable	0
Payment of debt issuance costs	0
Repurchases of common stock	0	0
Tax withholding paid on behalf of employees for stock awards	0	0
Net cash used in financing activities	(11,249)	(25,125)
Net (decrease) increase in cash, cash equivalents and restricted cash	32,592	30,646
Cash, cash equivalents and restricted cash – beginning of period	13,095	13,518
Cash, cash equivalents and restricted cash – end of period	45,687	44,164
Borrowings from credit facility		0
Repayments of credit facility		0
Non-Guarantor Subsidiaries [Member]
Net cash (used in) provided by operating activities	4	32
Purchases of property and equipment	0	0
Contributions and advances to unconsolidated joint ventures	0	0
Contributions to subsidiaries from corporate	0	0
Distributions of capital from subsidiaries to corporate	0	0
Distributions of capital and repayment of advances from unconsolidated joint ventures	0	0
Net cash provided by (used in) investing activities	0	0
Repurchases of senior notes	0	0
Contributions to subsidiaries from corporate	0	0
Distributions to corporate from subsidiaries	0	0
Proceeds from note payable	0
Repayment of note payable	0
Payment of debt issuance costs	0
Repurchases of common stock	0	0
Tax withholding paid on behalf of employees for stock awards	0	0
Net cash used in financing activities	0	0
Net (decrease) increase in cash, cash equivalents and restricted cash	4	32
Cash, cash equivalents and restricted cash – beginning of period	170	147
Cash, cash equivalents and restricted cash – end of period	$ 174	179
Borrowings from credit facility		0
Repayments of credit facility		$ 0