New Home (NWHM) 10-Q 2 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 30, 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	Q3
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 126,375	$ 79,314
Restricted cash	408	117
Contracts and accounts receivable	9,288	15,982
Due from affiliates	114	238
Real estate inventories	341,207	433,938
Investment in and advances to unconsolidated joint ventures	5,957	30,217
Deferred tax asset, net	16,222	17,503
Other assets	46,769	25,880
Total assets	546,340	603,189
Liabilities and equity
Accounts payable	17,596	25,044
Accrued expenses and other liabilities	39,777	40,554
Senior notes, net	290,272	304,832
Total liabilities	347,645	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 September 30, 2020 and December 31, 2019, respectively	182	201
Additional paid-in capital	191,510	193,862
Retained earnings	7,003	38,584
Total stockholders' equity	198,695	232,647
Non-controlling interest in subsidiary	0	112
Total equity	198,695	232,759
Total liabilities and equity	$ 546,340	$ 603,189

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Revenues	$ 130,844	$ 165,616	$ 361,837	$ 447,213
Cost of Sales:
Cost of Sales	113,925	157,056	340,502	408,188
Impairments	0	3,600	19,000	3,600
Gross Margin:
Gross margin	16,919	8,560	21,335	39,025
Selling and marketing expenses	(8,056)	(7,828)	(21,908)	(26,190)
General and administrative expenses	(6,386)	(5,361)	(19,301)	(18,593)
Equity in net income (loss) of unconsolidated joint ventures	(98)	(63)	(21,997)	306
Interest expense	(1,099)	0	(3,088)	0
Project abandonment (costs) recoveries, net	33	(10)	(14,097)	(29)
Gain on early extinguishment of debt	191	0	770	969
Other income (expense), net	24	(76)	179	(352)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	1,528	(4,778)	(58,107)	(4,864)
(Provision) benefit for income taxes	(390)	172	26,476	(138)
Net income (loss)	1,138	(4,606)	(31,631)	(5,002)
Net (income) loss attributable to non-controlling interest	50	(18)	50	(37)
Net income (loss) attributable to The New Home Company Inc.	$ 1,188	$ (4,624)	$ (31,581)	$ (5,039)
Earnings (loss) per share attributable to The New Home Company Inc.:
Basic (in dollars per share)	$ 0.07	$ (0.23)	$ (1.68)	$ (0.25)
Diluted (in dollars per share)	$ 0.06	$ (0.23)	$ (1.68)	$ (0.25)
Weighted average shares outstanding:
Basic (in shares)	18,231,954	20,096,969	18,839,551	20,051,751
Diluted (in shares)	18,332,601	20,096,969	18,839,551	20,051,751
Home Building [Member]
Revenues:
Revenues	$ 117,426	$ 118,781	$ 290,842	$ 358,431
Cost of Sales:
Cost of Sales	100,775	105,763	251,713	315,857
Impairments	0	1,700	19,000	1,700
Gross Margin:
Gross margin	16,651	11,318	20,129	40,874
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	1,260	(5,425)	(59,313)	(6,420)
Land [Member]
Revenues:
Revenues	0	24,573	157	24,573
Cost of Sales:
Cost of Sales	0	26,078	157	26,078
Impairments	0	1,900	0	1,900
Gross Margin:
Gross margin	0	(3,405)	0	(3,405)
Construction [Member]
Revenues:
Revenues	13,418	22,262	70,838	64,209
Cost of Sales:
Cost of Sales	13,150	21,615	69,632	62,653
Gross Margin:
Gross margin	268	647	1,206	1,556
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ 268	$ 647	$ 1,206	$ 1,556

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 income (loss)	0	0	(5,039)	(5,039)	37	(5,002)
Stock-based compensation expense	$ 0	1,661	0	1,661	0	1,661
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)
Shares issued through stock plans (in shares)	277,401
Shares issued through stock plans	$ 2	(2)	0	0	0	$ 0
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 Sep. 30, 2019	20,096,969
Balance at Sep. 30, 2019	$ 201	193,263	41,582	235,046	113	235,159
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
Net income (loss)	0	0	(4,624)	(4,624)	18	(4,606)
Stock-based compensation expense	$ 0	572	0	572	0	572
Balance (in shares) at Sep. 30, 2019	20,096,969
Balance at Sep. 30, 2019	$ 201	193,263	41,582	235,046	113	$ 235,159
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 income (loss)	0	0	(31,581)	(31,581)	(50)	(31,631)
Stock-based compensation expense	0	1,651	0	1,651	0	1,651
Non-controlling interest distribution	$ 0	0	0	0	(62)	(62)
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)
Shares issued through stock plans (in shares)	244,812
Shares issued through stock plans	$ 2	(2)	0	0	0	$ 0
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 Sep. 30, 2020	18,231,954					18,231,954
Balance at Sep. 30, 2020	$ 182	191,510	7,003	198,695	0	$ 198,695
Balance (in shares) at Jun. 30, 2020	18,231,954
Balance at Jun. 30, 2020	$ 182	190,969	5,815	196,966	112	197,078
Net income (loss)	0	0	1,188	1,188	(50)	1,138
Stock-based compensation expense	0	541	0	541	0	541
Non-controlling interest distribution	$ 0	0	0	0	(62)	$ (62)
Balance (in shares) at Sep. 30, 2020	18,231,954					18,231,954
Balance at Sep. 30, 2020	$ 182	$ 191,510	$ 7,003	$ 198,695	$ 0	$ 198,695

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities:
Net loss	$ (31,631,000)	$ (5,002,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Deferred taxes	1,281,000	0
Amortization of stock-based compensation	1,651,000	1,661,000
Distributions of earnings from unconsolidated joint ventures	110,000	319,000
Inventory impairments	19,000,000	3,600,000
Project abandonment costs	14,097,000	29,000
Equity in net (income) loss of unconsolidated joint ventures	21,997,000	(306,000)
Depreciation and amortization	5,225,000	7,008,000
Gain on early extinguishment of debt	(770,000)	(969,000)
Net changes in operating assets and liabilities:
Contracts and accounts receivable	6,694,000	5,714,000
Due from affiliates	124,000	790,000
Real estate inventories	65,816,000	62,953,000
Other assets	(31,087,000)	(2,390,000)
Accounts payable	(7,448,000)	(15,832,000)
Accrued expenses and other liabilities	(3,043,000)	1,016,000
Net cash provided by operating activities	62,016,000	58,591,000
Investing activities:
Purchases of property and equipment	(259,000)	(26,000)
Contributions and advances to unconsolidated joint ventures	(4,362,000)	(5,083,000)
Distributions of capital and repayment of advances from unconsolidated joint ventures	9,135,000	6,873,000
Net cash provided by investing activities	4,514,000	1,764,000
Financing activities:
Borrowings from credit facility	0	40,000,000
Repayments of credit facility	0	(89,500,000)
Repurchases of senior notes	(14,825,000)	(10,856,000)
Proceeds from note payable	7,036,000	0
Repayment of note payable	(7,036,000)	0
Payment of debt issuance costs	(269,000)	0
Non-controlling interest distribution	(62,000)	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	(19,178,000)	(61,886,000)
Net increase (decrease) in cash, cash equivalents and restricted cash	47,352,000	(1,531,000)
Cash, cash equivalents and restricted cash – beginning of period	79,431,000	42,542,000
Cash, cash equivalents and restricted cash – end of period	$ 126,783,000	$ 41,011,000

Note 1 - Organization and Summa

Note 1 - Organization and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 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 Accounting Standards Codification ("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 $0.4 million and $0.1 million as of September 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. Nine Months Ended September 30, 2020 2019 (Dollars in thousands) Cash and cash equivalents $ 126,375 $ 40,892 Restricted cash 408 119 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 126,783 $ 41,011 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 nine September 30, 2020 three nine September 30, 2019 4. pense and accrue any additional costs that we are contractually obligated to incur. three nine September 30, 2020 2019 three nine September 30, 2020 2019, ndonment charges, 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 nine September 30, 2020 2019 , one third September 30, 2020 December 31, 2019 one 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 September 30, 2020 posits o million pertaining to land option contracts and purchase contracts. As of September 30, 2020 December 31, 2019 not 810, Non-controlling Interest During 2013, third 810, not third 2020, September 30, 2020 December 31, 2019 third $0 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 September 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 nine September 30, 2020 2019 arges of illion, 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 September 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 September 30, 2020 ance of $0.1 million was recorde December 31, 2019 no ASC 740 not, not September 30, 2020 no The Company classifies any interest and penalties related to income taxes assessed as part of income tax expense. As of September 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 nine September 30, 2020, nine September 30, 2019 September 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 three nine September 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 ("ASU 2018 13" 2018 13 2018 13 2020 first no In December 2019, 2019 12, Income Taxes (Topic 740 Simplifying the Accounting for Income Taxes ("ASU 2019 12" December 15, 2020, 2019 12. In January 2020, 2020 01, Investments - Equity Securities (Topic 321 323 815 ("ASU 2020 01" 2020 01 321 323 815. December 31, 2020, no

Note 2 - Computation of Earning

Note 2 - Computation of Earnings (Loss) Per Share	9 Months Ended
	Sep. 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 nine September 30, 2020 2019 Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands, except per share amounts) Numerator: Net income (loss) attributable to The New Home Company Inc. $ 1,188 $ (4,624 ) $ (31,581 ) $ (5,039 ) Denominator: Basic weighted-average shares outstanding 18,231,954 20,096,969 18,839,551 20,051,751 Effect of dilutive shares: Stock options and unvested restricted stock units 100,647 — — — Diluted weighted-average shares outstanding 18,332,601 20,096,969 18,839,551 20,051,751 Basic earnings (loss) per share attributable to The New Home Company Inc. $ 0.07 $ (0.23 ) $ (1.68 ) $ (0.25 ) Diluted earnings (loss) per share attributable to The New Home Company Inc. $ 0.06 $ (0.23 ) $ (1.68 ) $ (0.25 ) Antidilutive stock options and unvested restricted stock units not included in diluted earnings (loss) per share 1,596,644 1,491,479 1,872,640 1,311,389

Note 3 - Contracts and Accounts

Note 3 - Contracts and Accounts Receivable	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	3. Contracts and accounts receivable consist of the following: September 30, December 31, 2020 2019 (Dollars in thousands) Contracts receivable: Costs incurred on fee building projects $ 69,632 $ 93,281 Estimated earnings 1,206 2,052 70,838 95,333 Less: amounts collected during the period (66,054 ) (84,979 ) Contracts receivable $ 4,784 $ 10,354 Contracts receivable: Billed $ — $ — Unbilled 4,784 10,354 4,784 10,354 Accounts receivable: Escrow receivables 3,992 5,392 Other receivables 512 236 Contracts and accounts receivable $ 9,288 $ 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 September 30, 2020 30 September 30, 2020 December 31, 2019 de

Note 4 - Real Estate Inventorie

Note 4 - Real Estate Inventories	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Real Estate Disclosure [Text Block]	4. Real estate inventories are summarized as follows: September 30, December 31, 2020 2019 (Dollars in thousands) Deposits and pre-acquisition costs $ 14,521 $ 17,865 Land held and land under development 127,164 180,823 Homes completed or under construction 152,389 183,711 Model homes 47,133 51,539 $ 341,207 $ 433,938 All of our deposits and pre-acquisition costs are nonrefundable, except for refundable deposits of $0.1 million and $0.1 million as of September 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 nine September 30, 2020, three nine September 30, 2019, three nine September 30, 2020 2019 Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Inventory impairments: Home sales $ — $ 1,700 $ 19,000 $ 1,700 Land sales — 1,900 — 1,900 Total inventory impairments $ — $ 3,600 $ 19,000 $ 3,600 Remaining carrying value of inventory impaired at period end $ — $ 68,615 $ 60,027 $ 68,615 Number of projects impaired during the period — 2 5 2 Total number of projects subject to periodic impairment review during period (1) 31 24 31 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 million in California home sales impairments recorded in the 2020 four The $1.7 million home sales impairment recorded in the 2019 third one 2019 third 2019 fourth 10. 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 nine September 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) recoveries, net in the accompanying condensed consolidated statement of operations.

Note 5 - Capitalized Interest

Note 5 - Capitalized Interest	9 Months Ended
	Sep. 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 nine September 30, 2020 2019 Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Interest incurred $ 5,831 $ 6,978 $ 18,361 $ 22,345 Interest capitalized to inventory (4,732 ) (6,978 ) (15,273 ) (22,345 ) Interest expensed $ 1,099 $ — $ 3,088 $ — Capitalized interest in beginning inventory $ 25,430 $ 29,908 $ 26,397 $ 25,681 Interest capitalized as a cost of inventory 4,732 6,978 15,273 22,345 Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition — 6 — 19 Previously capitalized interest included in cost of home and land sales (6,875 ) (7,997 ) (17,622 ) (19,150 ) Previously capitalized interest included in project abandonment costs — — (761 ) — Capitalized interest in ending inventory $ 23,287 $ 28,895 $ 23,287 $ 28,895 Capitalized interest in beginning investment in unconsolidated joint ventures $ 62 $ 621 $ 541 $ 713 Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition — (6 ) — (19 ) Previously capitalized interest included in equity in net income (loss) of unconsolidated joint ventures (62 ) (41 ) (541 ) (120 ) Capitalized interest in ending investment in unconsolidated joint ventures — 574 — 574 Total capitalized interest in ending inventory and investments in unconsolidated joint ventures $ 23,287 $ 29,469 $ 23,287 $ 29,469 Capitalized interest as a percentage of inventory 6.8 % 5.7 % 6.8 % 5.7 % Interest included in cost of home sales as a percentage of home sales revenue 5.8 % 5.2 % 6.0 % 4.8 % Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures — % 1.8 % — % 1.8 % For the nine September 30, 2020 , the Company expensed $0.8 million in interest previously capitalized due to the abandonment of the future phases of one three nine September 30, 2019, 2019 third 4. For the nine September 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	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	6. As of September 30, 2020 December 31, 2019 nine ten September 30, December 31, 2020 2019 (Dollars in thousands) Cash and cash equivalents $ 22,135 $ 31,484 Restricted cash 611 13,852 Real estate inventories 79,399 241,416 Other assets 9,916 3,843 Total assets $ 112,061 $ 290,595 Accounts payable and accrued liabilities $ 15,136 $ 16,778 Notes payable 6,588 28,665 Total liabilities 21,724 45,443 The New Home Company's equity (1) 19,502 27,722 Other partners' equity 70,835 217,430 Total equity 90,337 245,152 Total liabilities and equity $ 112,061 $ 290,595 Debt-to-capitalization ratio 6.8 % 10.5 % Debt-to-equity ratio 7.3 % 11.7 % ( 1 Balance represents the Company's interest, as reflected in the financial records of the respective joint ventures. At September 30, 2020, eets by December 31, 2019, eets by The condensed combined statements of operations for our unconsolidated joint ventures accounted for under the equity method were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Revenues $ 17,585 $ 35,809 $ 79,522 $ 137,174 Cost of sales and expenses 17,484 36,071 76,441 135,133 Net income (loss) of unconsolidated joint ventures $ 101 $ (262 ) $ 3,081 $ 2,041 Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations $ (98 ) $ (63 ) $ (21,997 ) $ 306 The Company reviews its investments in and advances to unconsolidated joint ventures for other-than-temporary declines in value . three nine September 30, 2020 2019 19 not $20.0 2020 second 1 one 2020 2020 first 2020 third $5.1 million fo 30% As a smaller reporting company, the Company is subject to the provisions of Rule 8 03 3 X 20% nine September 30, 2020, one 20% three nine September 30, 2019 no 20% three nine September 30, 2020 2019 Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Revenues $ — $ 935 $ — $ 2,002 Cost of home and land sales — 930 — 1,993 Gross margin $ — $ 5 $ — $ 9 Expenses 187 40 532 52 Net loss $ (187 ) $ (35 ) $ (532 ) $ (43 ) Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations $ — $ 16 $ (20,000 ) $ 18 In the above table, the Company's net losses for the nine September 30, 2020 one For the three nine September 30, 2020 2019 0.5 m 12.

Note 7 - Other Assets

Note 7 - Other Assets	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Other Assets Disclosure [Text Block]	7. Other assets consist of the following: September 30, December 31, 2020 2019 (Dollars in thousands) Capitalized selling and marketing costs, net (1) $ 6,152 $ 7,148 Prepaid income taxes (2) 28,582 1,032 Insurance receivable (3) 6,000 10,900 Warranty insurance receivable (4) 1,772 1,852 Prepaid expenses 2,106 2,729 Right-of-use lease assets 1,822 1,988 Other 335 231 $ 46,769 $ 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 w ere $2.1 million and $2.6 million as of September 30, 2020 and December 31, 2019 ion million and $6.8 million of capitalized selling and marketing costs to selling and marketing expenses during the three nine September 30, 2020 2019 ( 2 The amount at September 30, 2020 y $27.6 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 nine September 30, 2020 two one September 30, 2020 8. ( 4 During the three nine September 30, 2020, ble upward by $50,000 and $0.3 million, respectively, to true- $0.3 nine three nine September 30, 2019

Note 8 - Accrued Expenses and O

Note 8 - Accrued Expenses and Other Liabilities	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Accrued Expenses and Other Liabilities [Text Block]	8. Accrued expenses and other liabilities consist of the following: September 30, December 31, 2020 2019 (Dollars in thousands) Warranty accrual (1) $ 6,712 $ 7,223 Litigation reserves (2) 6,000 10,900 Accrued interest 10,644 5,796 Accrued compensation and benefits 4,304 5,350 Completion reserve 3,147 3,167 Customer deposits 3,625 3,574 Lease liabilities 1,941 2,243 Other accrued expenses 3,404 2,301 $ 39,777 $ 40,554 ( 1 Included in the amount at September 30, 2020 December 31, 2019 ely $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, 201 9. nine September 30, 2020 two one September 30, 2020 7. THE NEW HOME COMPANY INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Beginning warranty accrual for homebuilding projects $ 6,712 $ 6,907 $ 7,195 $ 6,681 Warranty provision for homebuilding projects 539 530 1,317 1,584 Warranty payments for homebuilding projects (617 ) (786 ) (1,878 ) (1,708 ) Adjustment to warranty accrual(1) 71 398 71 492 Ending warranty accrual for homebuilding projects 6,705 7,049 6,705 7,049 Beginning warranty accrual for fee building projects 28 142 28 217 Warranty provision for fee building projects — — — 9 Warranty efforts for fee building projects — (1 ) — (67 ) Adjustment to warranty accrual for fee building projects(1) (21 ) (113 ) (21 ) (131 ) Ending warranty accrual for fee building projects 7 28 7 28 Total ending warranty accrual $ 6,712 $ 7,077 $ 6,712 $ 7,077 ( 1 During the three nine September 30, 2020, three nine September 30, 2019, three nine September 30, 2019, 2019 third nine September 30, 2019.

Note 9 - Senior Notes and Unsec

Note 9 - Senior Notes and Unsecured Revolving Credit Facility	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	9. Indebtedness consisted of the following: September 30, December 31, 2020 2019 (Dollars in thousands) 7.25% Senior Notes due 2022, net $ 290,272 $ 304,832 Unsecured revolving credit facility — — Total Indebtedness $ 290,272 $ 304,832 On March 17, 2017, 2022 144A May 4, 2017, 2022 March 17, 2017, "2022 April 1 October 1. 2022 2022 2022 The carrying amount of the 2022 September 30, 2020 mount for the 2022 December 31, 2019 The 2022 2022 not not January 1, 2017 2022 100% 17 During the three September 30, 2020 2022 2022 nine September 30, 2020 2022 three nine September 30, 2020 2022 nine September 30, 2019 2022 nine September 30, 2020, 2022 On October 28, 2020, 2025 “2025 144A 2025 2025 2022 November 12, 2020. October 13, 2020, 2022 2022 November 12, 2020. October 28, 2020, 2025 2025 2022 2022 2025 18. As of September 30, 2020, September 30, 2021, ( $10 September 30, 2020 ad no 1 September 30, 2020 was 5.25%. Pu not not 12 September 30, 2020 The existing credit facility also provides a $10.0 million sublimit for letters of credit, subject to conditions set forth in the agreement. As of September 30, 2020 and December 31, 2019 , the Company did not mil September 30, 2020 On October 30, 2020, April 30, 2023. may Amounts outstanding under the New Credit Agreement accrue interest at a rate equal to either, at the Company’s election, LIBOR plus a margin of 3.50% to 4.50% per annum, or base rate plus a margin of 2.50% to 3.50%, in each case depending on the Company’s leverage ratio. The covenants of the New Credit Agreement include customary negative covenants that, among other things, restrict the Company’s ability to incur secured indebtedness, grant liens, repurchase or retire its senior unsecured notes, and make certain acquisitions, investments, asset dispositions and restricted payments, including stock repurchases. In addition, the New Credit Agreement contains certain financial covenants, including requiring that the Company to maintain (i) a consolidated tangible net worth not June 30, 2020, ( not 1 not not 12 The New Credit Agreement also provides for a $30.0 million sublimit for letters of credit, subject to conditions set forth in the New Credit Agreement. On April 15, 2020, April 23, 2020, April 24, 2020,

Note 10 - Fair Value Disclosure

Note 10 - Fair Value Disclosures	9 Months Ended
	Sep. 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 2022 2022 2 3 September 30, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value (Dollars in thousands) 7.25% Senior Notes due 2022, net (1) $ 290,272 $ 289,362 $ 304,832 $ 298,775 Unsecured revolving credit facility $ — $ — $ — $ — ( 1 The carrying value for the 2022 September 30, 2020 , is net of the unamortized $0.7 $1.9 2022 December 31, 2019 emium 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 nine September 30, 2020, the Company recognized real estate-related impairment adjustments o illion related to five 3 as $60.0 mil lion. three nine September 30, 2019, one 2019 fourth 3 For more information on real estate impairments, please refer to Note 4. For the three nine September 30, 2020 2019 illion, $0 and $0, respectively. In the second 2020, impairment charges of $20.0 million were recorded related to the Company's intent to exit from its interest in its Russell Ranch joint venture whereby the investment balance was written off, and in the 2020 first rrent carrying value. The Bedford transaction closed 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	9 Months Ended
	Sep. 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 . nine September 30, 2020 two one September 30, 2020 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 certain 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. For unconsolidated joint ventures where the Company provided LTV enhancements, the Company has also entered into agreements with some of its unconsolidated joint venture partners 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 LTV credit enhancements, the right to receive distributions from the unconsolidated joint venture that would otherwise be made to the partner. However, there is no September 30, 2020 December 31, 2019 lion and $5.8 million, respectively, as of September 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 September 30, 2020 December 31, 2019 September 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 September 30, 2020 For the three nine September 30, 2020 2019 one Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Lease cost: Lease costs included in general and administrative expenses $ 313 $ 309 $ 938 $ 929 Lease costs included in real estate inventories 76 103 284 472 Lease costs included in selling and marketing expenses 58 53 156 87 Net lease cost (1) $ 447 $ 465 $ 1,378 $ 1,488 Other Information: Lease cash flows (included in operating cash flows) (1) $ 482 $ 486 $ 1,498 $ 1,539 ( 1 Amount does not one imatel n, $0.2 million and $0.7 million for three nine September 30, 2020 2019, one $0.1 million and $0.2 million three nine September 30, 2020 2019 Future lease payments under our operating leases are as follows (dollars in thousands): Remaining for 2020 $ 377 2021 722 2022 327 2023 278 2024 218 Thereafter 124 Total lease payments (1) $ 2,046 Less: Interest (2) 105 Present value of lease liabilities (3) $ 1,941 ( 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 liabil ities were 3.4 years and 5.0 % , r September 30, 2020 During the 2020 third not December 2020.

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	12. During the three nine September 30, 2020 2019 September 30, 2020 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 three nine September 30, 2020 2019 September 30, 2020 December 31, 2019 spectively, 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 September 30, 2020 December 31, 2019 During the 2019 second quarter second second second 1 none 1 second 1 1 6, nine September 30, 2020. TL Fab LP one three nine September 30, 2020 2019 and $0.2 million, respectively, for these services. Of these c none September 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 September 30, 2020, i December 31, 2019 The Company’s land purchase agreement with the Cannery provides for reimbursements of certain fee credits. During the three nine September 30, 2020 2019, September 30, 2020 December 31, 2019 On June 18, 2015, June 26, 2015 ( June 26, 2019 one June 26, 2020 one $1,000 September 30, 2020 no September 7, 2017, August 25, 1999 ( 2019 first three nine September 30, 2019 three nine September 30, 2019 three nine September 30, 2019 September 30, 2020 December 31, 2019 On February 17, 2017, $0, $0, o three nine September 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 September 30, 2020 , no The Company entered into agreements during 2018 2017 2019 2020 2020. During 2017, he Company did not three nine September 30, 2020 2019 September 30, 2020 i December 31, 2019, no 2017, $56.3 three nine September 30, 2019 2019 second third third third third 2019, no September 30, 2020 no 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 nine September 30, 2020 September 30, 2020 of December 31, 2019, no In the first 2018, 2018, 2020 third September 30, 2020 2019 third three nine September 30, 2020 not three nine September 30, 2019, September 30, 2020 fourth 2018, second The Compan not nine September 30, 2020 nine September 30, 2019 September 30, 2020 no The Company sold its interest in the Bedford joint venture to its partner during the 2020 third During the nine September 30, 2020 , the Company recorded a $2.3 million other-than-temporary impairment charge to its investment in the Bedford joint venture reflecting the sale of its joint venture investment for less than its current carrying value. The sale agreement, among other things, allowed for a continuation of the Company's option to purchase at market up to 30% 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	9 Months Ended
	Sep. 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 September 30, 2020 , 66,968 shares r emain available for grant under the 2014 d 415,592 sha 2016 may not one three ten A summary of the Company’s common stock option activity as of and for the nine September 30, 2020 2019 Nine Months Ended September 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 (5,525 ) $ 11.00 (2,736 ) $ 11.00 Outstanding, end of period 1,223,971 $ 9.19 1,068,017 $ 9.78 Exercisable, end of period 896,304 $ 10.51 818,734 $ 11.00 A summary of the Company’s restricted stock unit activity as of and for the nine September 30, 2020 2019 Nine Months Ended September 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 $ 4.78 448,468 $ 4.82 Vested (244,812 ) $ 7.61 (277,401 ) $ 10.50 Forfeited (1,283 ) $ 11.68 (48,178 ) $ 10.91 Outstanding, end of period 704,890 $ 5.11 592,116 $ 6.36 A summary of the Company’s performance share unit activity as of and for the nine September 30, 2020 2019 Nine Months Ended September 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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Expense related to: Stock options $ 81 $ 51 $ 226 $ 123 Restricted stock units and performance share units 460 521 1,425 1,538 $ 541 $ 572 $ 1,651 $ 1,661 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: Nine Months Ended September 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 nine September 30, 2019 no December 31, 2019 not At September 30, 2020, 2023 may

Note 14 - Income Taxes

Note 14 - Income Taxes	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14. For the three nine September 30, 2020 , the Company recorded an income tax provision of $0.4 million and a benefit of $26.5 million, respectively. The Company's effective tax rates for the three nine September 30, 2020 include the benefit associated with net operating loss carrybacks to years when the Company was subject to a 35% March 27, 2020 2018 2020 five 2020 nine September 30, 2020 2020 first 21% 35% For the three nine September 30, 2019 , the Company recorded an income tax benefit of $0.2 million and a provision of $0.1 million, respectively. The Company's effective tax rates for 2019 nine September 30, 2019 and related to stock compensation and state income tax rate changes. The components of our deferred tax asset, net are as follows: September 30, December 31, 2020 2019 (Dollars in thousands) Net operating loss $ 8,599 $ 3,848 Reserves and accruals 2,482 2,563 Share based compensation 1,485 1,392 Inventory 4,272 3,536 Investments in joint ventures 397 7,080 Other 27 27 Capital loss 135 — Valuation allowance (135 ) — Depreciation and amortization (493 ) (393 ) Right-of-use lease asset (547 ) (550 ) Deferred tax asset, net $ 16,222 $ 17,503

Note 15 - Segment Information

Note 15 - Segment Information	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	15. The Company’s operations are organized into three two 280. Our homebuilding operations acquire and develop land and construct and sell single-family attached and detached homes and may third no velopment, sales or land acquisition activities, our corporate operations develop and implement strategic initiatives and support our operating segments by centralizing key administrative functions such as accounting, finance and treasury, information technology, insurance and risk management, litigation, marketing and human resources. A portion of the expenses incurred by corporate are allocated to the fee building segment primarily based on its respective percentage of revenues and to each homebuilding segment based on its respective investment in and advances to unconsolidated joint ventures and real estate inventories balances. The majority o Corporate unallocated assets consists primarily of cash, prepaid taxes and our deferred tax asset. For cash management efficiency and yield maximization reasons, cash is held at the corporate level. All cash is held for the benefit of the subsidiaries that comprise the homebuilding and fee building segments, and all operating cash flow is generated by these subsidiaries. The majority of our prepaid taxes and deferred tax asset are recorded at the corporate level as The New Home Company Inc. is the tax-filing entity for the subsidiaries structured as pass-through entities. Taxable income or loss and the resulting payment of income taxes is driven by the activities of the Company's subsidiaries. All other corporate assets comprise less than 3% 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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Homebuilding revenues: California home sales $ 109,189 $ 103,679 $ 264,066 $ 319,841 California land sales — 24,573 157 24,573 Arizona home sales 8,237 15,102 26,776 38,590 Total homebuilding revenues 117,426 143,354 290,999 383,004 Fee building revenues, including management fees 13,418 22,262 70,838 64,209 Total revenues $ 130,844 $ 165,616 $ 361,837 $ 447,213 Homebuilding pretax income (loss): California $ 3,485 $ (5,200 ) $ (39,204 ) $ (4,921 ) Arizona (2,225 ) (225 ) (20,109 ) (1,499 ) Total homebuilding pretax income (loss) 1,260 (5,425 ) (59,313 ) (6,420 ) Fee building pretax income, including management fees 268 647 1,206 1,556 Total pretax income (loss) $ 1,528 $ (4,778 ) $ (58,107 ) $ (4,864 ) September 30, December 31, 2020 2019 (Dollars in thousands) Homebuilding assets: California $ 332,357 $ 416,179 Arizona 69,109 82,234 Total homebuilding assets 401,466 498,413 Fee building assets 5,809 11,193 Corporate unallocated assets 139,065 93,583 Total assets $ 546,340 $ 603,189

Note 16 - Supplemental Disclosu

Note 16 - Supplemental Disclosure of Cash Flow Information	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	16. The following table presents certain supplemental cash flow information: Nine Months Ended September 30, 2020 2019 (Dollars in thousands) Supplemental disclosures of cash flow information Interest paid, net of amounts capitalized $ — $ — Income taxes paid $ — $ 270

Note 17 - Supplemental Guaranto

Note 17 - Supplemental Guarantor Information	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Supplemental Guarantor Information [Text Block]	17. The Company's 2022 100% 2022 "2022 1 no 2022 2022 2 2022 2022 3 2022 not 2022 not no 4 2022 2022 5 not 2022 6 2022 2022 may 2022 18 2025 The New Home Company Inc. operates as a holding company and all of its homebuilding construction, fee building, development and sales activities are conducted through its subsidiaries. Since the issuance of the 2022 2017, one not 2020 third September 30, 2020, 100% not no 3 10 5 X not 15.

Note 18 - Subsequent Events

Note 18 - Subsequent Events	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	18. Senior Notes Due 2025 On October 28, 2020 ( 2025 “2025 144A er the Securities Act and outside the United States in reliance on Regulation S under the Securities Act. The 2025 October 28, 2020 ( The Company intends to use the net proceeds from the Offering, together with cash on hand, to redeem all of the outstanding 2022 October 13, 2020, 2022 2022 November 12, 2020. October 28, 2020, 2022 The 2025 not may not 2025 April 15 October 15 April 15, 2021. 2025 October 15, 2025. The 2025 not 1 2 3 not January 1, 2021 The 2025 2025 2025 2025 2025 1 no 2 3 not not no 4 5 not 6 may On or after October 15, 2022, may 2025 not 15 60 12 October 15 Year Redemption Price 2022 103.625% 2023 101.813% 2024 100.000% In addition, any time prior to October 15, 2022, may, one 2025 may not 40% 2025 may one If the Company experiences a change of control triggering event (as described in the Indenture), holders of the 2025 2025 The Indenture contains certain covenants limiting, among other things, the ability of the Company and its restricted subsidiaries to: • incur or guarantee additional indebtedness or issue certain equity interests; • pay dividends or distributions, repurchase equity or make payments in respect of subordinated indebtedness; • make certain investments; • sell assets; • incur liens; • create certain restrictions on the ability of restricted subsidiaries to pay dividends or to transfer assets; • enter into transactions with affiliates; • create unrestricted subsidiaries; and • consolidate, merge or sell all or substantially all of its assets. These covenants are subject to a number of exceptions and qualifications as set forth in the Indenture. The Indenture also provides for events of default, which, if any of them occurs, would permit or require the principal of and accrued interest on such 2025 2025 no 2025 2025 Credit Agreement On October 30, 2020, April 30, 2023. 9.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 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 Accounting Standards Codification ("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 $0.4 million and $0.1 million as of September 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. Nine Months Ended September 30, 2020 2019 (Dollars in thousands) Cash and cash equivalents $ 126,375 $ 40,892 Restricted cash 408 119 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 126,783 $ 41,011
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 nine September 30, 2020 three nine September 30, 2019 4. pense and accrue any additional costs that we are contractually obligated to incur. three nine September 30, 2020 2019 three nine September 30, 2020 2019, ndonment charges, 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 nine September 30, 2020 2019 , one third September 30, 2020 December 31, 2019 one 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 September 30, 2020 posits o million pertaining to land option contracts and purchase contracts. As of September 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 third 2020, September 30, 2020 December 31, 2019 third $0
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 September 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 nine September 30, 2020 2019 arges of illion,
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 September 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 September 30, 2020 ance of $0.1 million was recorde December 31, 2019 no ASC 740 not, not September 30, 2020 no The Company classifies any interest and penalties related to income taxes assessed as part of income tax expense. As of September 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 nine September 30, 2020, nine September 30, 2019 September 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 three nine September 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 ("ASU 2018 13" 2018 13 2018 13 2020 first no In December 2019, 2019 12, Income Taxes (Topic 740 Simplifying the Accounting for Income Taxes ("ASU 2019 12" December 15, 2020, 2019 12. In January 2020, 2020 01, Investments - Equity Securities (Topic 321 323 815 ("ASU 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)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	Nine Months Ended September 30, 2020 2019 (Dollars in thousands) Cash and cash equivalents $ 126,375 $ 40,892 Restricted cash 408 119 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 126,783 $ 41,011

Note 2 - Computation of Earni_2

Note 2 - Computation of Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands, except per share amounts) Numerator: Net income (loss) attributable to The New Home Company Inc. $ 1,188 $ (4,624 ) $ (31,581 ) $ (5,039 ) Denominator: Basic weighted-average shares outstanding 18,231,954 20,096,969 18,839,551 20,051,751 Effect of dilutive shares: Stock options and unvested restricted stock units 100,647 — — — Diluted weighted-average shares outstanding 18,332,601 20,096,969 18,839,551 20,051,751 Basic earnings (loss) per share attributable to The New Home Company Inc. $ 0.07 $ (0.23 ) $ (1.68 ) $ (0.25 ) Diluted earnings (loss) per share attributable to The New Home Company Inc. $ 0.06 $ (0.23 ) $ (1.68 ) $ (0.25 ) Antidilutive stock options and unvested restricted stock units not included in diluted earnings (loss) per share 1,596,644 1,491,479 1,872,640 1,311,389

Note 3 - Contracts and Accoun_2

Note 3 - Contracts and Accounts Receivable (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	September 30, December 31, 2020 2019 (Dollars in thousands) Contracts receivable: Costs incurred on fee building projects $ 69,632 $ 93,281 Estimated earnings 1,206 2,052 70,838 95,333 Less: amounts collected during the period (66,054 ) (84,979 ) Contracts receivable $ 4,784 $ 10,354 Contracts receivable: Billed $ — $ — Unbilled 4,784 10,354 4,784 10,354 Accounts receivable: Escrow receivables 3,992 5,392 Other receivables 512 236 Contracts and accounts receivable $ 9,288 $ 15,982

Note 4 - Real Estate Inventor_2

Note 4 - Real Estate Inventories (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Inventory, Noncurrent [Table Text Block]	September 30, December 31, 2020 2019 (Dollars in thousands) Deposits and pre-acquisition costs $ 14,521 $ 17,865 Land held and land under development 127,164 180,823 Homes completed or under construction 152,389 183,711 Model homes 47,133 51,539 $ 341,207 $ 433,938
Asset Impairment Charges [Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Inventory impairments: Home sales $ — $ 1,700 $ 19,000 $ 1,700 Land sales — 1,900 — 1,900 Total inventory impairments $ — $ 3,600 $ 19,000 $ 3,600 Remaining carrying value of inventory impaired at period end $ — $ 68,615 $ 60,027 $ 68,615 Number of projects impaired during the period — 2 5 2 Total number of projects subject to periodic impairment review during period (1) 31 24 31 27

Note 5 - Capitalized Interest (

Note 5 - Capitalized Interest (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Interest Income and Interest Expense Disclosure [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Interest incurred $ 5,831 $ 6,978 $ 18,361 $ 22,345 Interest capitalized to inventory (4,732 ) (6,978 ) (15,273 ) (22,345 ) Interest expensed $ 1,099 $ — $ 3,088 $ — Capitalized interest in beginning inventory $ 25,430 $ 29,908 $ 26,397 $ 25,681 Interest capitalized as a cost of inventory 4,732 6,978 15,273 22,345 Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition — 6 — 19 Previously capitalized interest included in cost of home and land sales (6,875 ) (7,997 ) (17,622 ) (19,150 ) Previously capitalized interest included in project abandonment costs — — (761 ) — Capitalized interest in ending inventory $ 23,287 $ 28,895 $ 23,287 $ 28,895 Capitalized interest in beginning investment in unconsolidated joint ventures $ 62 $ 621 $ 541 $ 713 Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition — (6 ) — (19 ) Previously capitalized interest included in equity in net income (loss) of unconsolidated joint ventures (62 ) (41 ) (541 ) (120 ) Capitalized interest in ending investment in unconsolidated joint ventures — 574 — 574 Total capitalized interest in ending inventory and investments in unconsolidated joint ventures $ 23,287 $ 29,469 $ 23,287 $ 29,469 Capitalized interest as a percentage of inventory 6.8 % 5.7 % 6.8 % 5.7 % Interest included in cost of home sales as a percentage of home sales revenue 5.8 % 5.2 % 6.0 % 4.8 % Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures — % 1.8 % — % 1.8 %

Note 6 - Investments in and A_2

Note 6 - Investments in and Advances to Unconsolidated Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Equity Method Investments [Table Text Block]	September 30, December 31, 2020 2019 (Dollars in thousands) Cash and cash equivalents $ 22,135 $ 31,484 Restricted cash 611 13,852 Real estate inventories 79,399 241,416 Other assets 9,916 3,843 Total assets $ 112,061 $ 290,595 Accounts payable and accrued liabilities $ 15,136 $ 16,778 Notes payable 6,588 28,665 Total liabilities 21,724 45,443 The New Home Company's equity (1) 19,502 27,722 Other partners' equity 70,835 217,430 Total equity 90,337 245,152 Total liabilities and equity $ 112,061 $ 290,595 Debt-to-capitalization ratio 6.8 % 10.5 % Debt-to-equity ratio 7.3 % 11.7 % Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Revenues $ 17,585 $ 35,809 $ 79,522 $ 137,174 Cost of sales and expenses 17,484 36,071 76,441 135,133 Net income (loss) of unconsolidated joint ventures $ 101 $ (262 ) $ 3,081 $ 2,041 Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations $ (98 ) $ (63 ) $ (21,997 ) $ 306 Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Revenues $ — $ 935 $ — $ 2,002 Cost of home and land sales — 930 — 1,993 Gross margin $ — $ 5 $ — $ 9 Expenses 187 40 532 52 Net loss $ (187 ) $ (35 ) $ (532 ) $ (43 ) Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations $ — $ 16 $ (20,000 ) $ 18

Note 7 - Other Assets (Tables)

Note 7 - Other Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Other Assets [Table Text Block]	September 30, December 31, 2020 2019 (Dollars in thousands) Capitalized selling and marketing costs, net (1) $ 6,152 $ 7,148 Prepaid income taxes (2) 28,582 1,032 Insurance receivable (3) 6,000 10,900 Warranty insurance receivable (4) 1,772 1,852 Prepaid expenses 2,106 2,729 Right-of-use lease assets 1,822 1,988 Other 335 231 $ 46,769 $ 25,880

Note 8 - Accrued Expenses and_2

Note 8 - Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Accrued Expenses and Other Liabilities [Table Text Block]	September 30, December 31, 2020 2019 (Dollars in thousands) Warranty accrual (1) $ 6,712 $ 7,223 Litigation reserves (2) 6,000 10,900 Accrued interest 10,644 5,796 Accrued compensation and benefits 4,304 5,350 Completion reserve 3,147 3,167 Customer deposits 3,625 3,574 Lease liabilities 1,941 2,243 Other accrued expenses 3,404 2,301 $ 39,777 $ 40,554
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Beginning warranty accrual for homebuilding projects $ 6,712 $ 6,907 $ 7,195 $ 6,681 Warranty provision for homebuilding projects 539 530 1,317 1,584 Warranty payments for homebuilding projects (617 ) (786 ) (1,878 ) (1,708 ) Adjustment to warranty accrual(1) 71 398 71 492 Ending warranty accrual for homebuilding projects 6,705 7,049 6,705 7,049 Beginning warranty accrual for fee building projects 28 142 28 217 Warranty provision for fee building projects — — — 9 Warranty efforts for fee building projects — (1 ) — (67 ) Adjustment to warranty accrual for fee building projects(1) (21 ) (113 ) (21 ) (131 ) Ending warranty accrual for fee building projects 7 28 7 28 Total ending warranty accrual $ 6,712 $ 7,077 $ 6,712 $ 7,077

Note 9 - Senior Notes and Uns_2

Note 9 - Senior Notes and Unsecured Revolving Credit Facility (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Debt [Table Text Block]	September 30, December 31, 2020 2019 (Dollars in thousands) 7.25% Senior Notes due 2022, net $ 290,272 $ 304,832 Unsecured revolving credit facility — — Total Indebtedness $ 290,272 $ 304,832

Note 10 - Fair Value Disclosu_2

Note 10 - Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	September 30, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value (Dollars in thousands) 7.25% Senior Notes due 2022, net (1) $ 290,272 $ 289,362 $ 304,832 $ 298,775 Unsecured revolving credit facility $ — $ — $ — $ —

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Lease cost: Lease costs included in general and administrative expenses $ 313 $ 309 $ 938 $ 929 Lease costs included in real estate inventories 76 103 284 472 Lease costs included in selling and marketing expenses 58 53 156 87 Net lease cost (1) $ 447 $ 465 $ 1,378 $ 1,488 Other Information: Lease cash flows (included in operating cash flows) (1) $ 482 $ 486 $ 1,498 $ 1,539
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Remaining for 2020 $ 377 2021 722 2022 327 2023 278 2024 218 Thereafter 124 Total lease payments (1) $ 2,046 Less: Interest (2) 105 Present value of lease liabilities (3) $ 1,941

Note 13 - Stock-based Compens_2

Note 13 - Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Nine Months Ended September 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 (5,525 ) $ 11.00 (2,736 ) $ 11.00 Outstanding, end of period 1,223,971 $ 9.19 1,068,017 $ 9.78 Exercisable, end of period 896,304 $ 10.51 818,734 $ 11.00
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Nine Months Ended September 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 $ 4.78 448,468 $ 4.82 Vested (244,812 ) $ 7.61 (277,401 ) $ 10.50 Forfeited (1,283 ) $ 11.68 (48,178 ) $ 10.91 Outstanding, end of period 704,890 $ 5.11 592,116 $ 6.36
Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block]	Nine Months Ended September 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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Expense related to: Stock options $ 81 $ 51 $ 226 $ 123 Restricted stock units and performance share units 460 521 1,425 1,538 $ 541 $ 572 $ 1,651 $ 1,661
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Nine Months Ended September 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)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	September 30, December 31, 2020 2019 (Dollars in thousands) Net operating loss $ 8,599 $ 3,848 Reserves and accruals 2,482 2,563 Share based compensation 1,485 1,392 Inventory 4,272 3,536 Investments in joint ventures 397 7,080 Other 27 27 Capital loss 135 — Valuation allowance (135 ) — Depreciation and amortization (493 ) (393 ) Right-of-use lease asset (547 ) (550 ) Deferred tax asset, net $ 16,222 $ 17,503

Note 15 - Segment Information (

Note 15 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (Dollars in thousands) Homebuilding revenues: California home sales $ 109,189 $ 103,679 $ 264,066 $ 319,841 California land sales — 24,573 157 24,573 Arizona home sales 8,237 15,102 26,776 38,590 Total homebuilding revenues 117,426 143,354 290,999 383,004 Fee building revenues, including management fees 13,418 22,262 70,838 64,209 Total revenues $ 130,844 $ 165,616 $ 361,837 $ 447,213 Homebuilding pretax income (loss): California $ 3,485 $ (5,200 ) $ (39,204 ) $ (4,921 ) Arizona (2,225 ) (225 ) (20,109 ) (1,499 ) Total homebuilding pretax income (loss) 1,260 (5,425 ) (59,313 ) (6,420 ) Fee building pretax income, including management fees 268 647 1,206 1,556 Total pretax income (loss) $ 1,528 $ (4,778 ) $ (58,107 ) $ (4,864 ) September 30, December 31, 2020 2019 (Dollars in thousands) Homebuilding assets: California $ 332,357 $ 416,179 Arizona 69,109 82,234 Total homebuilding assets 401,466 498,413 Fee building assets 5,809 11,193 Corporate unallocated assets 139,065 93,583 Total assets $ 546,340 $ 603,189

Note 16 - Supplemental Disclo_2

Note 16 - Supplemental Disclosure of Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Nine Months Ended September 30, 2020 2019 (Dollars in thousands) Supplemental disclosures of cash flow information Interest paid, net of amounts capitalized $ — $ — Income taxes paid $ — $ 270

Note 18 - Subsequent Events (Ta

Note 18 - Subsequent Events (Tables)	9 Months Ended
	Sep. 30, 2020
7.25% Senior Notes Due 2025 [Member]
Notes Tables
Debt Instrument Redemption [Table Text Block]	Year Redemption Price 2022 103.625% 2023 101.813% 2024 100.000%

Note 1 - Organization and Sum_3

Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual)	May 08, 2020$ / sharesshares	Sep. 30, 2020USD ($)$ / shares	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)shares	Dec. 31, 2019USD ($)$ / shares	Jun. 28, 2019USD ($)
Entity Public Float									$ 58,900,000
Restricted Cash, Total		$ 408,000			$ 119,000	$ 408,000	$ 119,000	$ 117,000
Inventory Write-down		0			3,600,000	19,000,000	3,600,000
Abandoned Project Costs		0			10,000	14,097,000	29,000
Abandoned Project Costs Recovered		33,000			0	0	$ 0
Nonrefundable Cash Deposits		11,700,000				11,700,000
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance		$ 0				$ 0		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		135,000				$ 135,000		$ 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						2,051,183	153,916
Stock Repurchased and Retired During Period, Value						$ 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		$ 0	$ 20,000,000	$ 2,300,000	$ 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		10.00%				10.00%		10.00%
Noncontrolling Interest [Member]
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance		$ 0				$ 0		$ 100,000
Stock Repurchased and Retired During Period, Value						$ 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		84.00%			96.00%	94.00%	94.00%
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						45.00%		65.00%
Home Building [Member]
Inventory Write-down		$ 0			$ 1,700,000	$ 19,000,000	$ 1,700,000	$ 1,700,000
Land [Member]
Inventory Write-down		$ 0			$ 1,900,000	$ 0	$ 1,900,000	$ 1,900,000

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	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Cash and cash equivalents	$ 126,375	$ 79,314	$ 40,892
Restricted cash	408	117	119
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows	$ 126,783	$ 79,431	$ 41,011	$ 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net income (loss) attributable to The New Home Company Inc.	$ 1,188	$ (4,624)	$ (31,581)	$ (5,039)
Basic weighted-average shares outstanding (in shares)	18,231,954	20,096,969	18,839,551	20,051,751
Stock options and unvested restricted stock units (in shares)	100,647	0	0	0
Diluted weighted-average shares outstanding (in shares)	18,332,601	20,096,969	18,839,551	20,051,751
Basic earnings (loss) per share attributable to The New Home Company Inc. (in dollars per share)	$ 0.07	$ (0.23)	$ (1.68)	$ (0.25)
Diluted earnings (loss) per share attributable to The New Home Company Inc. (in dollars per share)	$ 0.06	$ (0.23)	$ (1.68)	$ (0.25)
Antidilutive stock options and unvested restricted stock units not included in diluted earnings (loss) per share (in shares)	1,596,644	1,491,479	1,872,640	1,311,389

Note 3 - Contracts and Accoun_3

Note 3 - Contracts and Accounts Receivable (Details Textual) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Construction Payable	$ 4	$ 9.6

Note 3 - Contracts and Accoun_4

Note 3 - Contracts and Accounts Receivable - Contracts and Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Costs incurred on fee building projects	$ 69,632	$ 93,281
Estimated earnings	1,206	2,052
Contracts receivable, before collections	70,838	95,333
Less: amounts collected during the period	(66,054)	(84,979)
Contracts receivable	4,784	10,354
Billed	0	0
Unbilled	4,784	10,354
Total contracts receivable	4,784	10,354
Escrow receivables	3,992	5,392
Other receivables	512	236
Contracts and accounts receivable	$ 9,288	$ 15,982

Note 4 - Real Estate Inventor_3

Note 4 - Real Estate Inventories (Details Textual) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Inventory, Real Estate, Refundable	$ 100			$ 100		$ 100
Impairment of Real Estate			$ 3,600	19,000	$ 3,600
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	1,528		(4,778)	(58,107)	(4,864)
Impairment of Long-Lived Assets to be Disposed of	(33)	$ 14,000	10	14,097	29
Home Building [Member]
Impairment of Real Estate			1,700
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ 1,260		(5,425)	$ (59,313)	$ (6,420)
Land [Member]
Impairment of Real Estate			$ 1,900
Measurement Input, Discount Rate [Member]
Real Estate Inventory, Measurement Input			17.3		17.3
Measurement Input, Discount Rate [Member] | Minimum [Member]
Real Estate Inventory, Measurement Input	14			14
Measurement Input, Discount Rate [Member] | Maximum [Member]
Real Estate Inventory, Measurement Input	26			26
California 1 [Member]
Impairment of Real Estate Homes				$ 17,800
California 1 [Member] | Home Building [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ 3,485		$ (5,200)	(39,204)	$ (4,921)
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
Arizona 1 [Member] | Home Building [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ (2,225)		$ (225)	(20,109)	$ (1,499)
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	Sep. 30, 2020	Dec. 31, 2019
Deposits and pre-acquisition costs	$ 14,521	$ 17,865
Land held and land under development	127,164	180,823
Homes completed or under construction	152,389	183,711
Model homes	47,133	51,539
Real estate inventories	$ 341,207	$ 433,938

Note 4 - Real Estate Inventor_5

Note 4 - Real Estate Inventories - Inventory Impairments (Details) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Impairments		$ 0	$ 3,600	$ 19,000	$ 3,600
Remaining carrying value of inventory impaired at period end		$ 0	$ 68,615	$ 60,027	$ 68,615
Number of projects impaired during the period		0	2	5	2
Total number of projects subject to periodic impairment review during period (1)	[1]	31	24	31	27
Home Building [Member]
Impairments		$ 0	$ 1,700	$ 19,000	$ 1,700	$ 1,700
Land [Member]
Impairments		$ 0	$ 1,900	$ 0	$ 1,900	$ 1,900
[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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Previously Capitalized Interest Included in Project Abandonments Costs	$ 0	$ 0	$ 761	$ 0
Previously Capitalized Interest Included in Inventory and Land Impairment		$ 900		$ 900
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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest incurred	$ 5,831	$ 6,978	$ 18,361	$ 22,345
Interest capitalized to inventory	(4,732)	(6,978)	(15,273)	(22,345)
Interest expensed	1,099	0	3,088	0
Capitalized interest in beginning inventory	25,430	29,908	26,397	25,681
Interest capitalized as a cost of inventory	4,732	6,978	15,273	22,345
Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition	0	6	0	19
Previously capitalized interest included in cost of home and land sales	(6,875)	(7,997)	(17,622)	(19,150)
Previously capitalized interest included in project abandonment costs	0	0	(761)	0
Capitalized interest in ending inventory	23,287	28,895	23,287	28,895
Capitalized interest in beginning investment in unconsolidated joint ventures	62	621	541	713
Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition	0	(6)	0	(19)
Previously capitalized interest included in equity in net income (loss) of unconsolidated joint ventures	(62)	(41)	(541)	(120)
Capitalized interest in ending investment in unconsolidated joint ventures	0	574	0	574
Total capitalized interest in ending inventory and investments in unconsolidated joint ventures	$ 23,287	$ 29,469	$ 23,287	$ 29,469
Capitalized interest as a percentage of inventory	6.80%	5.70%	6.80%	5.70%
Interest included in cost of home sales as a percentage of home sales revenue	5.80%	5.20%	6.00%	4.80%
Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures	0.00%	1.80%	0.00%	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				9 Months Ended		12 Months Ended
	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Equity Method Investment, Ownership Interests in Unconsolidated Joint Ventures	9				9		10
Equity Method Investment Basis Difference					$ 13,500		$ 2,500
Revenue from Contract with Customer, Including Assessed Tax	$ 130,844			$ 165,616	361,837	$ 447,213
Management Service [Member]
Revenue from Contract with Customer, Including Assessed Tax	100			500	700	1,700
Unconsolidated Joint Ventures [Member]
Equity Method Investment, Other than Temporary Impairment	0	$ 20,000	$ 2,300	$ 0	22,300	$ 0
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
Minimum [Member] | Unconsolidated Joint Ventures [Member]
Equity Method Investment, Ownership Percentage	10.00%				10.00%		10.00%
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		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Cash and cash equivalents		$ 126,375	$ 40,892	$ 126,375	$ 40,892		$ 79,314
Restricted Cash, Total		408	119	408	119		117
Real estate inventories		341,207		341,207			433,938
Other assets		46,769		46,769			25,880
Total assets		546,340		546,340			603,189
Total liabilities		347,645		347,645			370,430
The New Home Company's equity(1)		198,695		198,695			232,647
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance		0		0			112
Total equity		198,695	235,159	198,695	235,159	$ 197,078	232,759	$ 239,193	$ 240,030
Total liabilities and equity		546,340		546,340			603,189
Revenues		130,844	165,616	361,837	447,213
Cost of sales and expenses		113,925	157,056	340,502	408,188
Net income (loss) of unconsolidated joint ventures		1,138	(4,606)	(31,631)	(5,002)
Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations		(98)	(63)	(21,997)	306
Gross margin		16,919	8,560	21,335	39,025
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Cash and cash equivalents		22,135		22,135			31,484
Restricted Cash, Total		611		611			13,852
Real estate inventories		79,399		79,399			241,416
Other assets		9,916		9,916			3,843
Total assets		112,061		112,061			290,595
Accounts payable and accrued liabilities		15,136		15,136			16,778
Notes payable		6,588		6,588			28,665
Total liabilities		21,724		21,724			45,443
The New Home Company's equity(1)	[1]	19,502		19,502			27,722
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance		70,835		70,835			217,430
Total equity		90,337		90,337			245,152
Total liabilities and equity		$ 112,061		$ 112,061			$ 290,595
Debt-to-capitalization ratio		6.80%		6.80%			10.50%
Debt-to-equity ratio		7.30%		7.30%			11.70%
Revenues		$ 17,585	35,809	$ 79,522	137,174
Cost of sales and expenses		17,484	36,071	76,441	135,133
Net income (loss) of unconsolidated joint ventures		101	(262)	3,081	2,041
Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations		(98)	(63)	(21,997)	306
Unconsolidated Joint Venture with More than 20 Percent Loss Allocation [Member]
Revenues		0	935	0	2,002
Cost of sales and expenses		0	930	0	1,993
Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations		0	16	(20,000)	18
Gross margin		0	5	0	9
Expenses		187	40	532	52
Net loss		$ (187)	$ (35)	$ (532)	$ (43)
[1]	Balance represents the Company's interest, as reflected in the financial records of the respective joint ventures. At September 30, 2020, this balance differs from the investment in and advances to unconsolidated joint ventures balance reflected in the Company's condensed consolidated balance sheets by $13.5 million due to other-than-temporary impairment charges to the Company's investment and certain other differences in outside basis. At December 31, 2019, this balance differs from investment in and advances to unconsolidated joint ventures balance reflected in the Company's consolidated balance sheets by $2.5 million due to 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 ($)		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Capitalized Sales and Marketing Costs, Amortized				$ 2,100,000		$ 2,600,000
Depreciation, Capitalized Selling and Marketing Costs		$ 1,600,000	$ 1,900,000	5,100,000	$ 6,800,000
Income Tax Receivable, From CARES Act		27,600,000		27,600,000
Insurance Settlements Receivable	[1]	6,000,000		6,000,000		10,900,000
Estimated Litigation Liability	[2]	6,000,000		6,000,000		$ 10,900,000
Proceeds from Insurance Settlement, Operating Activities				4,700,000
Decrease in Insurance Settlements Receivable Estimate				(200,000)
Standard Product Warranty Accrual, Increase for Warranties Issued		$ 50,000	$ 800,000	$ 300,000	$ 1,400,000
[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 nine months ended September 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 September 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 nine months ended September 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 September 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		Sep. 30, 2020	Dec. 31, 2019
Capitalized selling and marketing costs, net	[1]	$ 6,152	$ 7,148
Prepaid income taxes	[2]	28,582	1,032
Insurance receivable	[3]	6,000	10,900
Warranty insurance receivable	[4]	1,772	1,852
Prepaid expenses		2,106	2,729
Right-of-use lease assets		1,822	1,988
Other		335	231
Other assets		$ 46,769	$ 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 $2.1 million and $2.6 million as of September 30, 2020 and December 31, 2019, respectively. The Company depreciated $1.6 million, $5.1 million, $1.9 million and $6.8 million of capitalized selling and marketing costs to selling and marketing expenses during the three and nine months ended September 30, 2020 and 2019, respectively.
[2]	The amount at September 30, 2020 includes approximately $27.6 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 nine months ended September 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 September 30, 2020, with a corresponding decrease recorded within litigation reserves. For more information, please refer to Note 8.
[4]	During the three and nine months ended September 30, 2020, the Company adjusted its warranty insurance receivable upward by $50,000 and $0.3 million, respectively, to true-up the receivable to its estimate of qualifying reimbursable expenditures, which resulted in pretax income of $0.3 million for the nine month period. During the three and nine months ended September 30, 2019, the Company adjusted its warranty insurance receivable upward by $0.8 million and $1.4 million, respectively, 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		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Standard Product Warranty Accrual, Ending Balance		$ 1,800,000		$ 1,800,000		$ 1,900,000
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)
Adjustment of Warranty Accrual, Impact on Net Income (Loss)			$ 300,000		$ 400,000
Home Building Segment [Member]
Standard Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties		71,000	400,000	71,000	500,000
Fee Building Segment [Member]
Standard Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties		$ 21,000	$ 100,000	$ 21,000	$ 100,000
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 nine months ended September 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 September 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 nine months ended September 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 September 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		Sep. 30, 2020		Dec. 31, 2019		Sep. 30, 2019
Warranty accrual (1)		$ 6,712	[1]	$ 7,223	[1]	$ 7,077
Estimated Litigation Liability	[2]	6,000		10,900
Accrued interest		10,644		5,796
Accrued compensation and benefits		4,304		5,350
Completion reserve		3,147		3,167
Customer deposits		3,625		3,574
Operating Lease, Liability, Total		1,941	[3]	2,243
Other accrued expenses		3,404		2,301
Total accrued expenses and other liabilities		$ 39,777		$ 40,554
[1]	Included in the amount at September 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 nine months ended September 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 September 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 3.4 years and 5.0%, respectively at September 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			9 Months Ended
		Sep. 30, 2020		Sep. 30, 2019	Sep. 30, 2020		Sep. 30, 2019
Beginning warranty accrual	[1]				$ 7,223
Ending warranty accrual		$ 6,712	[1]	$ 7,077	6,712	[1]	$ 7,077
Ending warranty accrual		6,712	[1]	7,077	7,223	[1]	7,077
Home Building Segment [Member]
Beginning warranty accrual		6,712		6,907	7,195		6,681
Warranty provision		539		530	1,317		1,584
Warranty payments		(617)		(786)	(1,878)		(1,708)
Adjustment to warranty accrual	[2]	71		398	71		492
Ending warranty accrual		6,705		7,049	6,705		7,049
Ending warranty accrual		6,705		7,049	6,705		7,049
Fee Building Segment [Member]
Beginning warranty accrual		28		142	28		217
Warranty provision		0		0	0		9
Warranty payments		0		(1)	0		(67)
Adjustment to warranty accrual	[2]	(21)		(113)	(21)		(131)
Ending warranty accrual		7		28	7		28
Ending warranty accrual		$ 7		$ 28	$ 7		$ 28
[1]	Included in the amount at September 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 three and nine months ended September 30, 2020, the Company recorded an adjustment of $71,000 to increase its warranty accrual for homebuilding projects and $21,000 to decrease its warranty accrual for fee building projects which is included in "Adjustment to warranty accrual" and "Adjustment to warranty accrual for fee building projects," respectively, above and resulted in a corresponding increase in warranty insurance recoveries in the accompanying condensed consolidated statement of operations. These adjustments were based on the expected warranty experience rates for each category. During the three and nine months ended September 30, 2019, the Company recorded an adjustment of $0.4 million and $0.5 million, respectively, 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 three and nine months ended September 30, 2019, the Company recorded an adjustment of $0.1 million and $0.1 million, respectively, due to a 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. The net impact of these adjustments to pretax loss was $(0.3) million for the 2019 third quarter and $(0.4) million for the nine months ended September 30, 2019.

Note 9 - Senior Notes and Uns_3

Note 9 - Senior Notes and Unsecured Revolving Credit Facility (Details Textual) - USD ($)	Oct. 30, 2020	Apr. 15, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Oct. 31, 2020	Oct. 28, 2020	Oct. 27, 2020	Jun. 26, 2020	Dec. 31, 2019	May 04, 2017	Mar. 17, 2017
Early Repayment of Senior Debt					$ 14,825,000	$ 10,856,000
Gain (Loss) on Extinguishment of Debt, Total			$ 191,000	$ 0	770,000	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		$ 60,000,000
Line of Credit Facility, Interest Rate at Period End			5.25%		5.25%
Revolving Credit Facility [Member] | Other Assets [Member]
Debt Issuance Costs, Net, Total			$ 400,000		$ 400,000
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		$ 150,000,000
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
Subsequent Event [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 60,000,000
Aggregate Maximum Borrowing Capacity	100,000,000
Debt Instrument, Covenant, Minimum Consolidated Tangible Net Worth	$ 150,000,000
Debt Instrument, Covenant, Percentage of Cumulative Consolidated Net Income Per Quarter	50.00%
Debt Instrument, Covenant, Minimum Liquidity	$ 10,000,000
Subsequent Event [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument, Covenant, Net Leverage Ratio	60.00%
Debt Instrument, Covenant, Interest Coverage Ratio	1.75
Subsequent Event [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Subsequent Event [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	4.50%
Subsequent Event [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.50%
Subsequent Event [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Subsequent Event [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 30,000,000
Net Leverage Ratio, Greater Than 55% [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Quarterly Repurchases										$ 0
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Debt Instrument, Face Amount													$ 250,000,000
Debt Instrument, Interest Rate, Stated Percentage													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			700,000		700,000						1,100,000
Debt Instrument, Unamortized Premium, Total			600,000		600,000						900,000
Debt Issuance Costs, Net, Total			$ 1,900,000		$ 1,900,000						$ 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			5,200,000		15,700,000
Early Repayment of Senior Debt			5,000,000		14,800,000	10,900,000
Gain (Loss) on Extinguishment of Debt, Total			200,000		800,000	1,000,000
Write off of Deferred Debt Issuance Cost			40,000		135,000	160,000
Debt Instrument, Repurchased and Retired, Face Amount						$ 12,000,000
Senior Notes [Member] | Senior Notes Due 2022 [Member] | Subsequent Event [Member]
Percent of Debt Instrument Face Amount, Value Issued									101.813%
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			700,000		700,000
Debt Instrument, Unamortized Premium, Total			600,000		600,000
Debt Issuance Costs, Net, Total			1,900,000		1,900,000
Senior Notes [Member] | 7.25% Senior Notes Due 2025 [Member] | Subsequent Event [Member]
Debt Instrument, Face Amount								$ 250,000,000
Debt Instrument, Interest Rate, Stated Percentage								7.25%
Percent of Debt Instrument Face Amount, Value Issued							101.813%	100.00%
Debt Instrument, Interest Rate, Effective Percentage								7.25%
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		Sep. 30, 2020	Dec. 31, 2019
7.25% Senior Notes due 2022, net		$ 290,272	$ 304,832
Total Indebtedness		290,272	304,832
Revolving Credit Facility [Member]
Unsecured revolving credit facility		0	0
Senior Notes Due 2022 [Member] | Senior Notes [Member]
7.25% Senior Notes due 2022, net	[1]	$ 290,272	$ 304,832
[1]	The carrying value for the 2022 Notes, as presented at September 30, 2020, is net of the unamortized discount of $0.7 million, unamortized premium of $0.6 million, and unamortized debt issuance costs of $1.9 million. The carrying value for the 2022 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)	Mar. 17, 2017
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Debt Instrument, Interest Rate, Stated Percentage	7.25%

Note 10 - Fair Value Disclosu_3

Note 10 - Fair Value Disclosures (Details Textual) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Impairment of Real Estate				$ 3,600	$ 19,000	$ 3,600
Impaired Inventory, Ending Balance	$ 0			68,615	60,027	68,615
Inventory Write-down	0			3,600	19,000	3,600
Unconsolidated Joint Ventures [Member]
Equity Method Investment, Other than Temporary Impairment	0	$ 20,000	$ 2,300	0	22,300	0
Home Building [Member]
Impairment of Real Estate				1,700
Inventory Write-down	0			1,700	19,000	1,700	$ 1,700
Land [Member]
Impairment of Real Estate				1,900
Inventory Write-down	0			$ 1,900	0	$ 1,900	1,900
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Debt Instrument, Unamortized Discount, Total	700				700		1,100
Debt Instrument, Unamortized Premium, Total	600				600		900
Debt Issuance Costs, Net, Total	$ 1,900				$ 1,900		$ 3,000

Note 10 - Fair Value Disclosu_4

Note 10 - Fair Value Disclosures - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Senior notes, net		$ 290,272	$ 304,832
Revolving Credit Facility [Member]
Unsecured revolving credit facility, carrying amount		0	0
Unsecured revolving credit facility		0	0
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Senior notes, net	[1]	290,272	304,832
Senior Notes, fair value	[1]	$ 289,362	$ 298,775
[1]	The carrying value for the 2022 Notes, as presented at September 30, 2020, is net of the unamortized discount of $0.7 million, unamortized premium of $0.6 million, and unamortized debt issuance costs of $1.9 million. The carrying value for the 2022 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)	Mar. 17, 2017
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Interest rate	7.25%

Note 11 - Commitments and Con_3

Note 11 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2020		Sep. 30, 2019	Sep. 30, 2020		Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Estimated Litigation Liability	[1]	$ 6,000			$ 6,000				$ 10,900
Insurance Settlements Receivable	[2]	6,000			6,000				10,900
Proceeds from Insurance Settlement, Operating Activities					4,700
Increase (Decrease) in Litigation Reserve					(200)
Operating Lease, Right-of-Use Asset		1,822			1,822				1,988
Operating Lease, Liability, Total		1,941	[3]		1,941	[3]			2,243
Short-term Lease, Cost		100		$ 200	200		$ 700
Sublease Income		$ 100		$ 100	$ 200		$ 200
Operating Lease, Weighted Average Remaining Lease Term (Year)		3 years 4 months 24 days			3 years 4 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent		5.00%			5.00%
Forecast [Member]
Operating Leases, Future Minimum Payments Due, Total								$ 1,500
Surety Bond [Member]
Loss Contingency, Range of Possible Loss, Portion Not Accrued		$ 45,300			$ 45,300				47,600
Loss Contingency, Estimated Remaining Costs of Work to be Completed		14,100			14,100				29,100
Corporate Joint Venture [Member] | Loans Payable [Member]
Related Party Transaction, Guarantor Obligations Underlying Asset Class, Guaranteed		1,600			1,600				5,800
Corporate Joint Venture [Member] | Financial Guarantee [Member]
Long-term Debt, Gross		$ 6,600			$ 6,600				28,600
Ordinary Course Litigation [Member]
Estimated Litigation Liability									5,900
IBNR Construction Defect Claims [Member]
Estimated Litigation Liability									$ 5,000
[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 nine months ended September 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 September 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 nine months ended September 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 September 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 3.4 years and 5.0%, respectively at September 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		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Lease costs included in general and administrative expenses		$ 313	$ 309	$ 938	$ 929
Lease costs included in real estate inventories		76	103	284	472
Lease costs included in selling and marketing expenses		58	53	156	87
Net lease cost (1)	[1]	447	465	1,378	1,488
Lease cash flows (included in operating cash flows)(1)	[1]	$ 482	$ 486	$ 1,498	$ 1,539
[1]	Amount does not include the cost of short-term leases with terms of less than one year which totaled approximately $0.1 million, $0.2 million, $0.2 million and $0.7 million for the three and nine months ended September 30, 2020 and 2019, respectively, or the benefit from a sublease agreement of one of our office spaces which totaled approximately $0.1 million, $0.2 million, $0.1 million and $0.2 million for the three and nine months ended September 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		Sep. 30, 2020		Dec. 31, 2019
Remaining for 2020		$ 377
2021		722
2022		327
2023		278
2024		218
Thereafter		124
Total lease payments(1)	[1]	2,046
Less: Interest(2)	[2]	105
Operating Lease, Liability, Total		$ 1,941	[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 3.4 years and 5.0%, respectively at September 30, 2020.

Note 12 - Related Party Trans_2

Note 12 - Related Party Transactions (Details Textual)	Jun. 26, 2015USD ($)	May 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Due from Affiliates			$ 114,000				$ 114,000		$ 238,000	$ 114,000
Equity Method Investments			5,957,000				5,957,000		30,217,000	5,957,000
Revenue from Contract with Customer, Including Assessed Tax			130,844,000			$ 165,616,000	361,837,000	$ 447,213,000
Cost of Goods and Services Sold, Total			113,925,000			157,056,000	340,502,000	408,188,000
Bedford 2 [Member]
Equity Method Investment, Other than Temporary Impairment							$ 2,300,000
Proceeds from Sale of Equity Method Investments			5,100,000
Joint Venture, Option Rights, Percentage							30.00%
Unconsolidated Joint Ventures [Member]
Equity Method Investment, Other than Temporary Impairment			0	$ 20,000,000	$ 2,300,000	0	$ 22,300,000	0
Proceeds from Sale of Equity Method Investments			5,100,000
Corporate Joint Venture [Member] | Construction-related Costs [Member]
Related Party Transaction, Expenses from Transactions with Related Party			400,000			1,200,000	2,600,000	4,400,000
Due from Affiliates			100,000				100,000		200,000	100,000
Corporate Joint Venture [Member] | Management Fees [Member]
Due from Affiliates			0				0		0	$ 0
Revenue from Related Parties			$ 100,000			500,000	$ 700,000	1,700,000
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			$ 200,000				$ 200,000		13,700,000	$ 200,000
IHP [Member] | LLC Agreement of Russell Ranch [Member]
Joint Venture Agreement, Additional Required Capital Agreed to Fund											$ 26,000,000
Joint Venture Agreement, Additional Required Capital Agreed to Fund, Percentage Funded by Related Party											50.00%
Joint Venture Agreement, Additional Required Capital Agreed to Fund, Percentage Funded by Entity											50.00%
TL Fab LP [Member] | Trade Payment [Member] | Unconsolidated Joint Ventures [Member]
Related Party Transaction, Amounts of Transaction			6,000			100,000	13,000	200,000
TNHC-HW Cannery LLC [Member]
Due from Affiliates			0				0		15,000	0
Deferred Profit From Lot Transactions			100,000				100,000		200,000	100,000
Land Owner Fees Reimbursed			0			66,000	15,000	66,000
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						0		500,000
Cost of Goods and Services Sold, Total						5,000		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	$ 5,000									1,000
Accounts Payable, Related Parties			0				0			0
Consultant Stelmar [Member] | Monthly Consulting Fee [Member]
Related Party Transaction, Amounts of Transaction			0			$ 12,000		$ 48,000
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						16.00%		26.00%
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			8.00%				19.00%
Deposits Assets			$ 200,000				$ 200,000			200,000
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		$ 9,300,000
Master Marketing Fees							200,000
Percentage of Optioned Lots Taken Down						34.00%		46.00%
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%
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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 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	$ 541	$ 572	$ 1,651	$ 1,661
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 3,000		$ 3,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			1 year 9 months 18 days
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)	66,968		66,968
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)	415,592		415,592

Note 13 - Stock-based Compens_4

Note 13 - Stock-based Compensation - Common Stock Option Activity (Details) - $ / shares	9 Months Ended
	Sep. 30, 2020	Sep. 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)	(5,525)	(2,736)
Common Stock Options Forfeited, weighted-average exercise price per share (in dollars per share)	$ 11	$ 11
Common Stock Options Outstanding, number of shares (in shares)	1,223,971	1,068,017
Common Stock Options Outstanding, weighted-average exercise price per share (in dollars per share)	$ 9.19	$ 9.78
Common Stock Options Exercisable, number of shares (in shares)	896,304	818,734
Common Stock Options Exercisable, weighted-average exercise price per share (in dollars per share)	$ 10.51	$ 11

Note 13 - Stock-based Compens_5

Note 13 - Stock-based Compensation - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	9 Months Ended
	Sep. 30, 2020	Sep. 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	448,468
Restricted Stock Units Granted, weighted-average grant date fair value per share (in dollars per share)	$ 4.78	$ 4.82
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)	(1,283)	(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)	704,890	592,116
Restricted Stock Units Outstanding, weighted-average grant date fair value per share (in dollars per share)	$ 5.11	$ 6.36

Note 13 - Stock-based Compens_6

Note 13 - Stock-based Compensation - Performance Share Unit Activity (Details) - Performance Shares [Member] - $ / shares	9 Months Ended
	Sep. 30, 2020	Sep. 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Expense	$ 541	$ 572	$ 1,651	$ 1,661
Stock Options [Member]
Share-based Payment Arrangement, Expense	81	51	226	123
Restricted Stock Units and Performance Share Units [Member]
Share-based Payment Arrangement, Expense	$ 460	$ 521	$ 1,425	$ 1,538

Note 13 - Stock-based Compens_8

Note 13 - Stock-based Compensation - Valuation Assumptions for Common Stock Options Granted (Details) - $ / shares	9 Months Ended
	Sep. 30, 2020	Sep. 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			9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Expense (Benefit), Total	$ 390		$ (172)	$ (26,476)	$ 138
Income Tax Expense (Benefit), Discrete Tax Items				10,000	400
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount				5,800
Impairment of Long-Lived Assets to be Disposed of	$ (33)	$ 14,000	$ 10	$ 14,097	$ 29
Income Tax Expense (Benefit), Change in Tax Law		$ (3,900)

Note 14 - Income Taxes - Compon

Note 14 - Income Taxes - Components of Deferred Income Tax Asset (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Net operating loss	$ 8,599	$ 3,848
Reserves and accruals	2,482	2,563
Share based compensation	1,485	1,392
Inventory	4,272	3,536
Investments in joint ventures	397	7,080
Other	27	27
Capital loss	135	0
Valuation allowance	(135)	0
Depreciation and amortization	(493)	(393)
Right-of-use lease asset	(547)	(550)
Deferred tax asset, net	$ 16,222	$ 17,503

Note 15 - Segment Information_2

Note 15 - Segment Information (Details Textual)	9 Months Ended
	Sep. 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Revenues	$ 130,844	$ 165,616	$ 361,837	$ 447,213
Pretax income (loss)	1,528	(4,778)	(58,107)	(4,864)
Total assets	546,340		546,340		$ 603,189
Corporate, Non-Segment [Member]
Total assets	139,065		139,065		93,583
Home Building Segment [Member]
Total assets	401,466		401,466		498,413
Fee Building Segment [Member]
Total assets	5,809		5,809		11,193
California 1 [Member] | Home Building Segment [Member]
Pretax income (loss)			17,800
Total assets	332,357		332,357		416,179
Arizona 1 [Member] | Home Building Segment [Member]
Pretax income (loss)			1,200
Total assets	69,109		69,109		$ 82,234
Home Building [Member]
Revenues	117,426	118,781	290,842	358,431
Pretax income (loss)	1,260	(5,425)	(59,313)	(6,420)
Home Building [Member] | California 1 [Member]
Revenues	109,189	103,679	264,066	319,841
Pretax income (loss)	3,485	(5,200)	(39,204)	(4,921)
Home Building [Member] | Arizona 1 [Member]
Revenues	8,237	15,102	26,776	38,590
Pretax income (loss)	(2,225)	(225)	(20,109)	(1,499)
Land [Member]
Revenues	0	24,573	157	24,573
Land [Member] | California 1 [Member]
Revenues	0	24,573	157	24,573
Homebuilding and Land [Member]
Revenues	117,426	143,354	290,999	383,004
Construction [Member]
Revenues	13,418	22,262	70,838	64,209
Pretax income (loss)	$ 268	$ 647	$ 1,206	$ 1,556

Note 16 - Supplemental Disclo_3

Note 16 - Supplemental Disclosure of Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Interest paid, net of amounts capitalized	$ 0	$ 0
Income taxes paid	$ 0	$ 270

Note 17 - Supplemental Guaran_2

Note 17 - Supplemental Guarantor Information (Details Textual)	Sep. 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 18 - Subsequent Events (De

Note 18 - Subsequent Events (Details Textual) - USD ($) $ in Millions	Oct. 15, 2022	Oct. 14, 2022	Jan. 01, 2021	Oct. 31, 2020	Oct. 30, 2020	Oct. 28, 2020
Subsequent Event [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Current Borrowing Capacity					$ 60
Senior Notes [Member] | 7.25% Senior Notes Due 2025 [Member] | Forecast [Member]
Percent of Debt Instrument Face Amount, Value Issued	101.00%	107.25%
DebtInstrument Exceptions To Limitation On Additional Indebtedness Maximum Borrowing Amount						$ 100
Percent Of Consolidated Tangible Net Assets General Basket Exception To Limitation For Restricted Payments To Be Made			3.00%			20.00%
Percent of Consolidated Net Income, General Basket Limitation for Restricted Payments to be Made			50.00%
Percent of Net Cash Proceeds From Qualified Equity Offerings, General Basket Limitation for Restricted Payments to be Made			100.00%
Debt Instrument Exceptions To Restricted Payments Covenant Investments In Joint Ventures And Other Investments To Tangible Net Assets Percentage			15.00%
Debt Instrument Exceptions To Restricted Payments Covenant Maximum General Basket Amount			$ 15
Debt Instrument Indenture Release Of Guarantees Tangible Net Assets Of Immaterial Subsidiaries Percentage			5.00%
Senior Notes [Member] | 7.25% Senior Notes Due 2025 [Member] | Subsequent Event [Member]
Debt Instrument, Face Amount						$ 250
Debt Instrument, Interest Rate, Stated Percentage						7.25%
Percent of Debt Instrument Face Amount, Value Issued				101.813%		100.00%
Debt Instrument, Interest Rate, Effective Percentage						7.25%

Note 18 - Subsequent Events - R

Note 18 - Subsequent Events - Redemption Prices (Details)	9 Months Ended
	Sep. 30, 2020
Year 2022 [Member]
2022	103.625%
Year 2023 [Member]
2022	101.813%
Year 2024 [Member]
2022	100.00%