New Home (NWHM) 10-K 11 Feb 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 09, 2021	Jun. 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	FY
Document Fiscal Year Focus	2020
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 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	15231 Laguna Canyon Road, Suite 250
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92618
City Area Code	949
Local Phone Number	382-7800
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 46,031,980
Entity Common Stock, Shares Outstanding		18,071,979
ICFR Auditor Attestation Flag	true
Series A Junior Participating Preferred Share Repurchase Rights [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, par value $0.01 per share
Trading Symbol	NWHM
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 107,279	$ 79,314
Restricted cash	180	117
Contracts and accounts receivable	4,924	15,982
Due from affiliates	102	238
Real estate inventories	314,957	433,938
Investment in and advances to unconsolidated joint ventures	2,107	30,217
Deferred tax asset, net	15,447	17,503
Other assets	50,703	25,880
Total assets	495,699	603,189
Liabilities and equity
Accounts payable	17,182	25,044
Accrued expenses and other liabilities	36,210	40,554
Senior notes, net	244,865	304,832
Total liabilities	298,257	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, 18,122,345 and 20,096,969, shares issued and outstanding as of December 31, 2020 and December 31, 2019, respectively	181	201
Additional paid-in capital	191,496	193,862
Retained earnings	5,765	38,584
Total stockholders' equity	197,442	232,647
Non-controlling interest in subsidiary	0	112
Total equity	197,442	232,759
Total liabilities and equity	$ 495,699	$ 603,189

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 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)	18,122,345	20,096,969
Common stock, shares outstanding (in shares)	18,122,345	20,096,969

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Revenues:
Revenues	$ 507,411		$ 669,349		$ 667,566
Cost of Sales:
Impairments	19,000		10,200		10,000
Cost of Revenue, Total	465,766		616,207		605,666
Gross Margin:
Gross margin	41,645		53,142		61,900
Selling and marketing expenses	(30,777)		(36,357)		(36,065)
General and administrative expenses	(26,699)		(25,723)		(25,966)
Equity in net loss of unconsolidated joint ventures	(18,791)		(3,503)		(19,653)
Interest expense	(3,655)		0		0
Project abandonment costs	(14,098)		(94)		(206)
Gain (loss) on early extinguishment of debt	(7,254)		1,164		0
Other income (expense), net	173		(445)		(315)
Pretax loss	(59,456)		(11,816)		(20,305)
Benefit for income taxes	26,587		3,815		6,075
Net loss	(32,869)		(8,001)		(14,230)
Net (income) loss attributable to non-controlling interest	50		(36)		14
Net loss attributable to The New Home Company Inc.	$ (32,819)		$ (8,037)		$ (14,216)
Loss per share attributable to The New Home Company Inc.:
Basic (in dollars per share)	$ (1.76)	[1]	$ (0.40)	[1]	$ (0.69)
Diluted (in dollars per share)	$ (1.76)	[1]	$ (0.40)	[1]	$ (0.69)
Weighted average shares outstanding:
Basic (in shares)	18,680,993		20,063,148		20,703,967
Diluted (in shares)	18,680,993		20,063,148		20,703,967
Home Building [Member]
Revenues:
Revenues	$ 426,251		$ 532,352		$ 504,029
Cost of Sales:
Cost of Sales	367,026		469,557		436,530
Impairments	19,000		8,300		10,000
Gross Margin:
Gross margin	40,225		54,495		57,499
Pretax loss	(60,876)		(13,868)		(24,706)
Land [Member]
Revenues:
Revenues	157		41,664
Cost of Sales:
Cost of Sales	157		43,169
Impairments	0		1,900		0
Gross Margin:
Gross margin			(3,405)
Construction [Member]
Revenues:
Revenues	81,003		95,333		163,537
Cost of Sales:
Cost of Sales	79,583		93,281		159,136
Gross Margin:
Gross margin	1,420		2,052		4,401
Pretax loss	$ 1,420		$ 2,052		$ 4,401
[1]	Some amounts do not add to our full year results presented on our consolidated statement of operations due to rounding differences in quarterly and annual weighted average share calculations.

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Noncontrolling Interest [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2017							20,876,837
Balance at Dec. 31, 2017	$ 0	$ (18)	$ (3,347)	$ (3,365)	$ 0	$ (3,365)	$ 209	$ 199,474	$ 64,307	$ 263,990	$ 90	$ 264,080
Net loss							0	0	(14,216)	(14,216)	(14)	(14,230)
Stock-based compensation expense							$ 0	3,090	0	3,090	0	3,090
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans (in shares)							(86,692)
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans							$ 0	(982)	0	(982)	0	(982)
Shares issued through stock plans (in shares)							271,875
Shares issued through stock plans							$ 2	(2)	0	0	0	$ 0
Repurchase of common stock (in shares)							(1,003,116)					(1,003,116)
Repurchase of common stock							$ (10)	(8,430)	(123)	(8,563)	0	$ (8,563)
Balance (in shares) at Dec. 31, 2018							20,058,904
Balance at Dec. 31, 2018							$ 201	193,132	46,621	239,954	76	240,030
Net loss							0	0	(8,037)	(8,037)	36	(8,001)
Stock-based compensation expense							$ 0	2,260	0	2,260	0	2,260
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 Dec. 31, 2019							20,096,969					20,096,969
Balance at Dec. 31, 2019							$ 201	193,862	38,584	232,647	112	$ 232,759
Net loss							0	0	(32,819)	(32,819)	(50)	(32,869)
Stock-based compensation expense							$ 0	2,197	0	2,197	0	2,197
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)							(2,160,792)					(2,160,792)
Repurchase of common stock							$ (22)	(4,257)	0	(4,279)	0	$ (4,279)
Non-controlling interest distribution							$ 0	0	0	0	(62)	$ (62)
Balance (in shares) at Dec. 31, 2020							18,122,345					18,122,345
Balance at Dec. 31, 2020							$ 181	$ 191,496	$ 5,765	$ 197,442	$ 0	$ 197,442

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities:
Net loss	$ (32,869)	$ (8,001)	$ (14,230)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Deferred taxes	2,056	(3,566)	(7,620)
Amortization of stock-based compensation	2,197	2,260	3,090
Distributions of earnings from unconsolidated joint ventures	110	374	715
Inventory impairments	19,000	10,200	10,000
Project abandonment costs	14,098	94	206
Equity in net loss of unconsolidated joint ventures	18,791	3,503	19,653
Deferred profit from unconsolidated joint ventures	0	0	136
Depreciation and amortization	6,721	8,957	6,631
(Gain) loss on early extinguishment of debt	7,254	(1,164)	0
Net changes in operating assets and liabilities:
Contracts and accounts receivable	11,058	2,283	4,959
Due from affiliates	136	930	(242)
Real estate inventories	85,200	123,239	(157,705)
Other assets	(35,357)	(2,326)	(11,642)
Accounts payable	(7,862)	(14,347)	15,669
Accrued expenses and other liabilities	2,549	(1,178)	(9,305)
Net cash provided by (used in) operating activities	93,082	121,258	(139,685)
Investing activities:
Purchases of property and equipment	(291)	(41)	(246)
Contributions and advances to unconsolidated joint ventures	(4,995)	(8,826)	(15,066)
Distributions of capital and repayment of advances from unconsolidated joint ventures	14,257	9,133	15,436
Interest collected on advances to unconsolidated joint ventures	0	0	178
Net cash provided by investing activities	8,971	266	302
Financing activities:
Borrowings from credit facility	0	50,000	150,000
Repayments of credit facility	0	(117,500)	(82,500)
Proceeds from senior notes	250,000	0	0
Repurchases of senior notes	(312,410)	(15,605)	0
Proceeds from note payable	7,036	0	0
Repayments of note payable	(7,036)	0	0
Payment of debt issuance costs	(6,970)	0	0
Non-controlling interest distribution	(62)	0	0
Repurchases of common stock	(4,279)	(1,042)	(8,563)
Tax withholding paid on behalf of employees for stock awards	(304)	(488)	(982)
Net cash (used in) provided by financing activities	(74,025)	(84,635)	57,955
Net increase (decrease) in cash, cash equivalents and restricted cash	28,028	36,889	(81,428)
Cash, cash equivalents and restricted cash – beginning of year	79,431	42,542	123,970
Cash, cash equivalents and restricted cash – end of year	$ 107,459	$ 79,431	$ 42,542

Note 1 - Organization and Summa

Note 1 - Organization and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 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 $46.0 million at June 30, 2020, Basis of Presentation The 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 financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") as contained within the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC"). 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 consolidated financial statements and notes. Accordingly, actual results could differ materially from these estimates. Reclassifications No Segment Reporting ASC 280, Segment Reporting 280" 280, Cash and Cash Equivalents We define cash and cash equivalents as cash on hand, demand deposits with financial institutions, and short term liquid investments with a maturity date of less than three Restricted Cash Restricted cash of $0.2 million and $0.1 million as of December 31, 2020 2019 , respectively, is held in accounts for payments of subcontractor costs incurred in connection with various fee building projects. The table below shows the line items and amounts of cash and cash equivalents and restricted cash as reported within the Company's 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 consolidated statements of cash flows. Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Cash and cash equivalents $ 107,279 $ 79,314 $ 42,273 Restricted cash 180 117 269 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 107,459 $ 79,431 $ 42,542 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 f operations. For the years ended December 31, 2020, 2019 2018 , we recorded inventory impairments of $19.0 million, $10.2 million and $10.0 million, respectively. For additional detail regarding these impairment charges, please see Note 4. December 31, 2020, 2019 2018, 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: The Company adopted ASC 606 January 1, 2018, 606. January 1, 2018. 970, no 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 building revenues have historically been concentrated with a small number of customers. For the years ended December 31, 2020, 2019 2018 one d 91% , 9 5% third December 31, 2020 2019 one 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 December 31, 2020 $8.9 milli As of December 31, 2020 2019 not 810, Non-controlling Interest During 2013, third 810, not 2020, 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 December 31, 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." For the years ended December 31, 2020, 2019 2018 820 . not December 31, 2020, 2019 2018 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 consolidated balance sheets under ASC 340, Other Assets and Deferred Costs 340" 30 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 December 31, 2020 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 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 December 31, 2020, 2019 2018 of $6.7 million, $9.0 million and $6.6 million, respectively. 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 740, December 31, 2020, not December 31, 2019, no 14 ASC 740 not, not December 31, 2020 no The Company classifies any interest and penalties related to income taxes assessed as part of income tax expense. As of December 31, 2020 not Stock-Based Compensation We account for share-based awards in accordance with ASC 718, Compensation – Stock Compensation 718" 505 50, Equity – Equity Based Payments to Non-Employees 505 50" ASC 718 718 On February 16, 2017, 505 50, Based on the terms and conditions of Mr. Stelmar's consulting agreement noted above, we accounted for his share-based awards in accordance with ASC 505 50 March 31, 2018. 505 50 505 50 505 50 In June 2018, No. 2018 07, Improvements to Nonemployee Share-Based Payment Accounting 2018 07" 718 718, 2018 07 April 1, 2018, not April 1, 2018 2018 07 one 2018 March 31, 2019. 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 year ended December 31, 2020 of $4.3 m December 31, 2019, December 31, 2018, December 31, 2020. Tax Benefit Preservation Plan On May 8, 2020, 4.95%. one May 20, 2020. one 4.95% 1/1000 th two $11.50 one May 7, 2021, ( 382 1986, no no 382 382 not Dividends No December 31, 2020, 2019 2018 not not Employee Benefit Plan We have a defined contribution plan pursuant to Section 401 ay elect to make before-tax or Roth contributions up to the current tax limits. The Company matches 50% of the employee's contribution on the first December 31, 2020, 2019 2018 were $1.0 Recently Issued Accounting Standards 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, nd ASU 2020 02, Financial Instruments - Credit Losses (Topic 326 842 February 2020 January 1, 2020 , and requires full retrospective application upon adoption. During November 2019 , the FASB issued ASU 2019 10 , Financial Instruments - Credit Losses (Topic 326 815 842 that provides for additional implementation time for smaller repor December 15, 2022 , not 2016 13 January 1, 2020, not In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13" 2018 13 2018 13 January 1, 2020 no In December 2019, 2019 12, Income Taxes (Topic 740 Simplifying the Accounting for Income Taxes 2019 12" December 15, 2020, not 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, 2020 01 no In March 2020, 3 10 X. December 31, 2020 no October 2020, 2020 09, Debt (Topic 470 No. 33 10762 2020 09" ) In October 2020, 2020 10, Codification Improvements 2020 10" 2020 10 December 15, 2020, The Company is currently evaluating ASU 2020 10 no

Note 2 - Computation of Loss Pe

Note 2 - Computation of Loss Per Share	12 Months Ended
	Dec. 31, 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 years ended December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 (Dollars in thousands, except per share amounts) Numerator: Net loss attributable to The New Home Company Inc. $ (32,819 ) $ (8,037 ) $ (14,216 ) Denominator: Basic weighted-average shares outstanding 18,680,993 20,063,148 20,703,967 Effect of dilutive shares: Stock options and unvested restricted stock units — — — Diluted weighted-average shares outstanding 18,680,993 20,063,148 20,703,967 Basic loss per share attributable to The New Home Company Inc. $ (1.76 ) $ (0.40 ) $ (0.69 ) Diluted loss per share attributable to The New Home Company Inc. $ (1.76 ) $ (0.40 ) $ (0.69 ) Antidilutive stock options and unvested restricted stock units not included in diluted loss per share 1,886,226 1,320,400 1,311,802

Note 3 - Contracts and Accounts

Note 3 - Contracts and Accounts Receivable	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	3. Contracts and accounts receivable consist of the following: December 31, 2020 2019 (Dollars in thousands) Contracts receivable: Costs incurred on fee building projects $ 79,583 $ 93,281 Estimated earnings 1,420 2,052 81,003 95,333 Less: amounts collected during the period (77,861 ) (84,979 ) Contracts receivable $ 3,142 $ 10,354 Contracts receivable: Billed $ — $ — Unbilled 3,142 10,354 3,142 10,354 Accounts receivable: Escrow receivables 1,782 5,392 Other receivables — 236 Contracts and accounts receivable $ 4,924 $ 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 December 31, 2020 2019 30 December 31, 2020 2019

Note 4 - Real Estate Inventorie

Note 4 - Real Estate Inventories	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Real Estate Disclosure [Text Block]	4. Real estate inventories are summarized as follows: December 31, 2020 2019 (Dollars in thousands) Deposits and pre-acquisition costs $ 12,202 $ 17,865 Land held and land under development 127,807 180,823 Homes completed or under construction 133,567 183,711 Model homes 41,381 51,539 $ 314,957 $ 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 December 31, 2020 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 December 31, 2020, 2019 2018 of $19.0 mill 2020 2019, 2018, 2020 2019 2018 14%-26%, 17%-19% 2019 December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 (Dollars in Thousands) Inventory impairments: Home sales $ 19,000 $ 8,300 $ 10,000 Land sales — 1,900 — Total inventory impairments $ 19,000 $ 10,200 $ 10,000 Remaining carrying value of inventory impaired at year end $ 47,178 $ 81,622 $ 57,845 Number of projects impaired during the year 5 3 2 Total number of projects subject to periodic impairment review during the year (1) 31 27 26 ( 1 Represents the peak number of real estate projects that we had during each respective year. The number of projects outstanding at the end of each year may The $17.8 million in California home sales impairments recorded in 2020 four The $8.3 million home sales impairment recorded during 2019 two 2019 third The home sales impairments of $10.0 million recorded during 2018 two For more information on fair value measurements, please refer to Note 10. During the 2020 first 970 360 40 1, not December 31, 2020,

Note 5 - Capitalized Interest

Note 5 - Capitalized Interest	12 Months Ended
	Dec. 31, 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 December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Interest incurred $ 23,936 $ 28,819 $ 28,377 Interest capitalized to inventory (20,281 ) (28,819 ) (27,393 ) Interest capitalized to investment in unconsolidated joint ventures — — (984 ) Interest expensed $ 3,655 $ — $ — Capitalized interest in beginning inventory $ 26,397 $ 25,681 $ 16,453 Interest capitalized as a cost of inventory 20,281 28,819 27,393 Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition — 31 513 Previously capitalized interest included in cost of home and land sales (23,864 ) (28,134 ) (18,678 ) Previously capitalized interest included in project abandonment costs (761 ) — — Capitalized interest in ending inventory $ 22,053 $ 26,397 $ 25,681 Capitalized interest in beginning investment in unconsolidated joint ventures $ 541 $ 713 $ 1,472 Interest capitalized to investment in unconsolidated joint ventures — — 984 Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition — (31 ) (513 ) Previously capitalized interest included in equity in net loss of unconsolidated joint ventures (541 ) (141 ) (1,230 ) Capitalized interest in ending investment in unconsolidated joint ventures — 541 713 Total capitalized interest in ending inventory and investments in unconsolidated joint ventures $ 22,053 $ 26,938 $ 26,394 Capitalized interest as a percentage of inventory 7.0 % 6.1 % 4.5 % Interest included in cost of home sales as a percentage of home sales revenue 5.6 % 4.9 % 3.7 % Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures — % 1.8 % 2.1 % For the year ended December 31, 2020, one December 31, 2019, 4. For the years ended December 31, 2020, 2019 2018, two 6.

Note 6 - Investments in and Adv

Note 6 - Investments in and Advances to Unconsolidated Joint Ventures	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	6. As of December 31, 2020 2019 nine ten December 31, 2020 2019 (Dollars in thousands) Cash and cash equivalents $ 16,709 $ 31,484 Restricted cash 611 13,852 Real estate inventories 3,172 241,416 Other assets 1,834 3,843 Total assets $ 22,326 $ 290,595 Accounts payable and accrued liabilities $ 13,487 $ 16,778 Notes payable — 28,665 Total liabilities 13,487 45,443 The New Home Company's equity (1) 2,107 27,722 Other partners' equity 6,732 217,430 Total equity 8,839 245,152 Total liabilities and equity $ 22,326 $ 290,595 Debt-to-capitalization ratio — % 10.5 % Debt-to-equity ratio — % 11.7 % ___________________ ( 1 Balance represents the Company's interest, as reflected in the financial records of the respective joint ventures. At December 31, 2019, The condensed combined statements of operations for our unconsolidated joint ventures accounted for under the equity method were as follows: Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Revenues $ 137,819 $ 164,038 $ 181,623 Cost of sales and expenses 161,772 230,953 209,527 Net loss of unconsolidated joint ventures $ (23,953 ) $ (66,915 ) $ (27,904 ) Equity in net loss of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations $ (18,791 ) $ (3,503 ) $ (19,653 ) Included in cost of sales and expenses for our unconsolidated joint ventures for the years ended December 31, 2020, 2019 2018, 2020, 2019 2018, 2019 2018 2019 2018 December 31, 2020, 2019 2018. Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Joint venture impairments related to: Homebuilding joint ventures $ — $ — $ — Land development joint ventures — 70,000 28,776 Total joint venture impairments $ — $ 70,000 $ 28,776 Number of projects impaired during the year — 1 1 Total number of projects included in unconsolidated joint ventures and reviewed for impairment during the year 10 10 10 The Company reviews its investments in and advances to unconsolidated joint ventures for 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 years ended December 31, 2020, 2019 2018 During the 2020 second 19 not $20.0 1 one third 2020 fourth 2020 second 2020 2020 first 2020 third 30% 2018 As a smaller reporting company, the Company is subject to the provisions of Rule 8 03 3 X he disclosure of certain financia 20% December 31, 2020 2018, one 20% December 31, 2019 one 20% December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Revenues $ 55,517 $ 33,144 $ 38,789 Cost of sales: Land sales 74,279 31,103 36,676 Inventory impairments — 70,000 28,776 Gross margin (18,762 ) (67,959 ) (26,663) Expenses (2,742 ) (2,879 ) (3,289 ) Net loss $ (21,504 ) $ (70,838 ) $ (29,952 ) Equity in net loss of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations (1) $ (17,744 ) $ (3,656 ) $ (20,283 ) ( 1 Balance represents equity in net loss of unconsolidated joint ventures included in the statements of operations related to the Company's investment in these two may In the above table, the Company's equity in net losses from these two December 31, 2020, 2019 2018 include $22.3 million, $0, and $1.1 million, of other-than-temporary impairment charges, respectively. For the years ended December 31, 2020, 2019 2018 12.

Note 7 - Other Assets

Note 7 - Other Assets	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Other Assets Disclosure [Text Block]	7. Other assets consist of the following: December 31, 2020 2019 (Dollars in thousands) Capitalized selling and marketing costs, net (1) $ 5,895 $ 7,148 Prepaid income taxes (2) 27,866 1,032 Insurance receivable (3) 4,816 10,900 Warranty insurance receivable (4) 2,480 1,852 Prepaid expenses 6,331 2,729 Right-of-use lease assets 2,997 1,988 Other 318 231 $ 50,703 $ 25,880 ( 1 Capitalized selling and marketing costs includes costs incurred for tangible assets directly used in the sales process such as our sales offices, design studios and model furnishings, and also includes model landscaping costs, which wer e $2.2 mil December 31, 2020 2019, December 31, 2020 2019, ( 2 The amount at December 31, 2020 ately $27.4 million o March 27, 2020 2018 2020 five ( 3 The Company recorded insurance receivables of $10.9 million in connection with $10.9 million of litigation reserves recorded as of December 31, 2019. 2020, insurance carrier directly to claimants related to two one not December 31, 2020 8. ( 4 The Company adjusted its warranty insurance receivable upward by $1.2 million during 2020 December 31, 2020. 2019 December 31, 2019.

Note 8 - Accrued Expenses and O

Note 8 - Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Accrued Expenses and Other Liabilities [Text Block]	8. Accrued expenses and other liabilities consist of the following: December 31, 2020 2019 (Dollars in thousands) Warranty accrual (1) $ 7,276 $ 7,223 Litigation reserves (2) 5,641 10,900 Accrued interest 3,172 5,796 Accrued compensation and benefits 7,106 5,350 Completion reserve 5,683 3,167 Customer deposits 2,898 3,574 Lease liabilities 3,180 2,243 Other accrued expenses 1,254 2,301 $ 36,210 $ 40,554 ( 1 Included in the amount at December 31, 2020 2019 ly $2.5 m ( 2 During 2019, 2019 fourth December 31, 2019. $5.9 $5.0 December 31, 2019. er 31, 2020, insurance carrier directly to claimants related to two one litigation reserve by a net $0.4 million December 31, 2020. 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 consolidated balance sheets 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 balance sheets. 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: Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Beginning warranty accrual for homebuilding projects $ 7,195 $ 6,681 $ 6,634 Warranty provision for homebuilding projects 1,789 2,363 2,330 Warranty payments for homebuilding projects (2,576 ) (2,341 ) (2,006 ) Adjustment to warranty accrual (1) 861 492 (277 ) Ending warranty accrual for homebuilding projects 7,269 7,195 6,681 Beginning warranty accrual for fee building projects 28 217 225 Warranty provision for fee building projects — 9 — Warranty efforts for fee building projects — (67 ) (70 ) Adjustment to warranty accrual for fee building projects (2) (21 ) (131 ) 62 Ending warranty accrual for fee building projects 7 28 217 Total ending warranty accrual $ 7,276 $ 7,223 $ 6,898 ( 1 During 2020 During 2019, 2018, 2018 ( 2 During 2020, nt of $21,000 to decrease its warranty accrual for fee building projects based on the expected warranty experience rates which resulted in a corresponding decrease to fee building cost of sales in the accompanying consolidated statement of operations. In 2019, the Company recorded an adjustment of $0.1 million due to a lower experience rate of expected warranty 2018,

Note 9 - Senior Notes and Unsec

Note 9 - Senior Notes and Unsecured Revolving Credit Facility	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	9. Indebtedness consisted of the following: December 31, 2020 2019 (Dollars in thousands) 7.25% Senior Notes due 2025, net $ 244,865 $ — 7.25% Senior Notes due 2022, net — 304,832 Unsecured revolving credit facility — — Total Indebtedness $ 244,865 $ 304,832 2022 On March 17, 2017, 2022 May 4, 2017, 2022 "2022 March 17, 2017, The carrying amount of the 2022 December 31, 2019 2022 2020, 2022 2022 2019, 2022 2022 As discussed below, the 2022 November 12, 2020. 2025 October 28, 2020 2022 November 12, 2020. 2025 On October 28, 2020, 2025 “2025 144A 2025 2025 2022 2025 December 31, 2020, The 2025 not may not 2025 April 15 October 15 April 15, 2021. 2025 October 15, 2025. The 2025 2025 not 1 2 3 not January 1, 2021 2025 100% 18 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 2025 2025 no 2025 2025 Credit Facilities The Company had an unsecured revolving credit facility with a bank group (the "existing facility") which, as amended on June 26, 2020, September 30, 2021 June 2020, December 31, 2019, no December 31, 2019 On October 30, 2020, dit Agreement (the “New Credit Agreement” or “Credit Facility”) with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto. The New Credit Agreement provides for a $60 million unsecured revolving credit facility, maturing April 30, 2023. may December 31, 2020, 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. As of December 31, 2020, not June 30, 2020, ( not 1 not not 12 December 31, 2020, The Credit Facility also provides for a $30.0 million sublimit for letters of credit, subject to conditions set forth in the New Credit Agreement. As of December 31, 2020 no aled $1.5 million as of December 31, 2020 On April 15, 2020, April 23, 2020, April 24, 2020, Notes payable have stated maturities as follows for the years ending December 31 2021 $ — 2022 — 2023 — 2024 — 2025 250,000 $ 250,000

Note 10 - Fair Value Disclosure

Note 10 - Fair Value Disclosures	12 Months Ended
	Dec. 31, 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 202 5 2022 2025 2022 2 December 31, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value (Dollars in thousands) 7.25% Senior Notes due 2025, net (1) $ 244,865 $ 256,875 $ — $ — 7.25% Senior Notes due 2022, net (2) $ — $ — $ 304,832 $ 298,775 ( 1 The carrying value for the 2025 December 31, 2020 f $5.1 million. T not ( 2 The carrying value of the 2022 December 31, 2019 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 years ended December 31, 2020, 2019 2018 December 31, 2020, five December 31, 2019, two 2019 fourth December 31, 2018, two 3 s was $47.2 million and $81.6 December 31, 2020 2019 4. For the years ended December 31, 2020, 2019 2018, 2020, second 2020 first 2020 third 2020 fourth 2020 2 3 2018 3 6.

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 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. 2020, was paid insurance carrier directly to claimants related to two one litigation reserve by a net $0.4 million, December 31, 2020. The net $0.4 million adjustment was comprised of a decrease in $1.0 million to the reserve, partially offset by $0.6 million in expense recorded related to additional self-insured retention deductibles for certain projects. The litigation insurance receivable de 2020 $4.7 million insurance carrier directly to claimants related to two one December 31, 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, these 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 December 31, 2020 2019 December 31, 2020 2019 In addition, the Company has provided completion agreements regarding specific performance for certain joint venture 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 December 31, 2020 2019 ng $44.0 million December 31, 2020 2019 $16.3 m third not The Company accounts for contracts deemed to contain a lease under ASC 842, Leases one not December 31, 2020 2019, December 31, 2020 2019, For the years ended December 31, 2020 2019 one Year Ended December 31, 2020 2019 Lease cost: Lease costs included in general and administrative expenses $ 1,234 $ 1,226 Lease costs included in real estate inventories 344 503 Lease costs included in selling and marketing expenses 188 202 Net lease cost $ 1,766 $ 1,931 Other Information: Lease cash flows (included in operating cash flows) (1) $ 1,889 $ 2,056 ( 1 Amount does not one pproximately $0.2 million and $0.8 million for the years ended December 31, 2020 2019, one December 31, 2020 2019, Future lease payments under our operating leases are as follows (dollars in thousands): 2021 $ 1,031 2022 703 2023 631 2024 588 2025 478 Thereafter — Total lease payments (1) $ 3,431 Less: Interest (2) 251 Present value of lease liabilities (3) $ 3,180 ( 1 Lease payments include options to extend lease terms that are reasonably certain of being exercised. ( 2 Our leases do not no not December 31, 2020 2019. ( 3 The weighted average remaining lease term and weighted average incremental borrowing rate used in calculating our lease liabilities were 4.2 yea rs an d 3.7%, respectively, at December 31, 2020 December 31, 2019. We lease our corporate headquarters in Irvine, California. The lease on this facility consists of approximately 13,000 square feet and expires in December 2025. 2025. December 31, 2020 2021 $ 782 2022 534 2023 556 2024 578 2025 479 Thereafter — $ 2,929 For the years ended December 31, 2020, 2019 2018

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	12. During the years ended December 31, 2020, 2019 2018 December 31, 2020 2019 The Company has entered into agreements with its unconsolidated joint ventures to provide management services related to the underlying projects (collectively referred to as the "Management Agreements"). Pursuant to the Management Agreements, the Company receives a management fee based on each project’s revenues. During the years ended December 31, 2020, 2019 2018 December 31, 2020 2019 $36,000 and $0, 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 December 31, 2020 2019 During the 2017 third 1 July 2018 1 2019 second second 1 none 6, 2020 second 2 3, third 2020 fourth 2020 second 1 no 50% 50% TL Fab LP, an affiliate of one int ventures as a trade contractor to provide metal fabrication services. For the years ended December 31, 2020, 2019 2018 , the Company incurred $13,000, $0.2 million, and $0.3 million, respectively, for these services. For the same periods, the Company's unconsolidated joint ventures incurred $0, $0, and $0.4 December 31, 2020 2019 December 31, 2020 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, Property Plant and Equipment - Real Estate Sales third no December 31, 2020, December 31, 2019, The Company’s land purchase agreement with the Cannery provides for reimbursements of certain fee credits. The Company was reimbursed $15,000, $0.1 million and $0.1 million in fee credits from the Cannery during 2020 2019 2018 December 31, 2020 2019 On June 18, 2015, June 26, 2015 ( June 26, 2019 one June 26, 2020 one $1,000 December 31, 2020 2019 no September 7, 2017, August 25, 1999 ( 2019 first December 31, 2020, 2019 2018 December 31, 2020, 2019 2018 December 31, 2020, 2019 2018 December 31, 2020 2019 $0 On February 17, 2017, $0, December 31, 2020, 2019 2018 2016 2019 first August 2019 not On February 14, 2019, March 1, 2019. March 1, 2020 December 31, 2020 no During 2018, the Company had an advance outstanding to an unconsolidated joint venture, Encore McKinley Village LLC. The note bore interest at 10% per annum and was fully repaid during the 2018 second December 31, 2018, the Company earned $0.1 million in interest income on the unsecured promissory note which is included in equity in net loss of unconsolidated joint ventures in the accompanying consolidated statements of operations. The Company entered into agreements during 2018 2017 2020, 2019 2018. During 2017, December 31, 2019, n all of th no December 31, 2019 2018, December 31, 2020, aid $0.5 million in master marketing fees. During 2017 December 31, 2019 2018, 2019 second third third third third 2019, no December 31, 2020, no third has paid (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, 2018 December 31, 2019, no December 31, 2020, $0.3 million in master marketing fees and reimbursed the land seller $0.2 million i 2018, ny began taking down these lots during 2020 December 31, 2020 2019, million and $0.3 milli on, respectively, r elated to this c December 31, 2020, $22,000 i December 31, 2019, no In the first 2018, 2018, 2020 third 2019 third December 31, 2019 2018, December 31, 2019, no December 31, 2020, Company has paid $0.2 million i fourth 2018, second ately 8% and 92% of December 31, 2020 2019, December 31, 2020 d paid $0.3 million in master marketing fees, and at December 31, 2020 2019, no de posit remained outstanding. The Company sold its interest in the Bedford joint venture to its partner during the 2020 third December 31, 2020, FMR LLC beneficially owned over 10% 2018, 401 December 31, 2018, 401 401 December 31, 2018 December 31, 2020 2019, 10% 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. No December 31, 2020. 11.

Note 13 - Stock-based Compensat

Note 13 - Stock-based Compensation	12 Months Ended
	Dec. 31, 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 options and restricted stock unit awards under the 2014 2016 December 31, 2020 2014 2016 may not one three ten A summary of the Company’s common stock option activity as of and for the years ended December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 Number of Shares Weighted-Average Exercise Price per Share 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 $ 11.00 826,498 $ 11.00 Granted 161,479 $ 5.36 249,283 $ 5.76 — $ — Exercised — $ — — $ — — $ — Forfeited (8,801 ) $ 11.00 (2,736 ) $ 11.00 (5,028 ) $ 11.00 Outstanding, end of period 1,220,695 $ 9.18 1,068,017 $ 9.78 821,470 $ 11.00 Exercisable, end of period 893,028 $ 10.51 818,734 $ 11.00 821,470 $ 11.00 A summary of the Company’s restricted stock unit activity as of and for the years ended December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 Number of Shares Weighted-Average Grant-Date Fair Value per Share 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 $ 10.75 562,082 $ 10.72 Granted 358,869 $ 4.78 448,468 $ 4.82 179,268 $ 11.24 Vested (244,812 ) $ 7.61 (277,401 ) $ 10.50 (271,875 ) $ 11.02 Forfeited (1,283 ) $ 11.68 (48,178 ) $ 10.91 (248 ) $ 10.05 Outstanding, end of period 704,890 $ 5.11 592,116 $ 6.36 469,227 $ 10.75 A summary of the Company’s performance share unit activity as of and for the years ended December 31, 2020, 2019 2018 Years Ended December 31, 2020 2019 2018 Number of Shares Weighted-Average Grant-Date Fair Value per Share 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) — $ — — $ — 125,422 $ 11.68 Vested — $ — — $ — — $ — Forfeited — $ — (125,422 ) $ 11.68 — $ — Outstanding, end of period (at target) — $ — — $ — 125,422 $ 11.68 The expense related to the Company's stock-based compensation programs, included in general and administrative expense in the accompanying consolidated statements of operations, was as follows: Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Expense related to: Stock options $ 307 $ 174 $ — Restricted stock units and performance share units 1,890 2,086 3,090 $ 2,197 $ 2,260 $ 3,090 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: Year Ended December 31, 2020 2019 2018 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 December 31, 2020, 2019 2018, no December 31, 2019, not At December 31, 2020 2023 is $2.4 m 1.6 ye may

Note 14 - Income Taxes

Note 14 - Income Taxes	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14. The benefit for income taxes includes the following: Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Current provision (benefit) for income taxes: Federal $ (28,644 ) $ (203 ) $ (67 ) State 1 (101 ) 304 (28,643 ) (304 ) 237 Deferred provision (benefit) for income taxes: Federal 6,837 (2,933 ) (4,208 ) State (4,781 ) (578 ) (2,104 ) 2,056 (3,511 ) (6,312 ) Benefit for income taxes $ (26,587 ) $ (3,815 ) $ (6,075 ) The effective tax rate differs from the federal statutory rate of 21% for the years ended December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Loss before taxes of taxable entities $ (59,456 ) $ (11,816 ) $ (20,305 ) Benefit for income taxes at federal statutory rate $ 12,485 $ 2,481 $ 4,264 (Increases) decreases in tax resulting from: Provisional rate adjustment - tax reform — — 148 NOL carryback rate differential 9,574 — — State income taxes, net of federal benefit 3,980 781 1,396 Tax credits 1,509 1,238 346 Stock compensation (276 ) (389 ) (12 ) Non-deductible expenses related to Section 162(m) (48 ) (163 ) — Other (637 ) (133 ) (67 ) Benefit for income taxes $ 26,587 $ 3,815 $ 6,075 Effective tax rate 44.7 % 32.3 % 29.9 % The Company's effective tax rate for 2020 35% March 27, 2020 2018 2020 five With the enactment of the Tax Cuts and Jobs Act (the "Tax Act"), the corporate federal income tax rate dropped from a maximum of 35% 21% January 1, 2018. December 31, 2018 2018, one The components of our deferred tax asset, net are as follows: December 31, 2020 2019 (Dollars in thousands) Net operating loss carryforwards $ 5,808 $ 2,227 Tax credit carryforwards 2,401 1,621 Reserves and accruals 2,870 2,563 Share based compensation 1,441 1,392 Inventory 3,142 3,536 Investments in joint ventures 1,226 7,080 Other 26 27 Depreciation and amortization (653 ) (393 ) Right-of-use lease asset (814 ) (550 ) Deferred tax asset, net $ 15,447 $ 17,503 At December 31, 2020, may 20 2039, December 31, 2019 2019 2018 2020 five At December 31, 2020 2019 2020. December 31, 2019, 2019 2018. 2039, The Company classifies any interest and penalties related to income taxes assessed as part of income tax provision. The Company has concluded that there were no 2017 2019 2016 2019

Note 15 - Segment Information

Note 15 - Segment Information	12 Months Ended
	Dec. 31, 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 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 Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Homebuilding revenues: California home sales $ 383,536 $ 472,242 $ 504,029 California land sales 157 41,664 — Arizona home sales 42,715 60,110 — Total homebuilding revenues 426,408 574,016 504,029 Fee building revenues, including management fees 81,003 95,333 163,537 Total revenues $ 507,411 $ 669,349 $ 667,566 Homebuilding pretax loss: California $ (35,609 ) $ (5,724 ) $ (19,594 ) Arizona (25,267 ) (8,144 ) (5,112 ) Total homebuilding pretax loss (60,876 ) (13,868 ) (24,706 ) Fee building pretax income, including management fees 1,420 2,052 4,401 Total pretax loss $ (59,456 ) $ (11,816 ) $ (20,305 ) December 31, 2020 2019 (Dollars in thousands) Homebuilding assets: California $ 295,340 $ 416,179 Arizona 70,457 82,234 Total homebuilding assets 365,797 498,413 Fee building assets 3,756 11,193 Corporate unallocated assets 126,146 93,583 Total assets $ 495,699 $ 603,189

Note 16 - Results of Quarterly

Note 16 - Results of Quarterly Operations (Unaudited)	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Quarterly Financial Information [Text Block]	16. The following table presents our unaudited quarterly financial data. In our opinion, this information has been prepared on a basis consistent with that of our audited consolidated financial statements and all necessary material adjustments, consisting of normal recurring accruals and adjustments, have been included to present fairly the unaudited quarterly financial data. Our quarterly results of operations for these periods are not First Quarter Second Quarter Third Quarter Fourth Quarter Total (Dollars in thousands, except per share amounts) 2020 Home sales revenue $ 95,659 $ 77,757 $ 117,426 $ 135,409 $ 426,251 Cost of home sales 84,722 66,216 100,775 115,313 367,026 Home sales impairments — 19,000 — — 19,000 Homebuilding gross margin $ 10,937 $ (7,459 ) $ 16,651 $ 20,096 $ 40,225 Land sales revenue $ 147 $ 10 $ — $ — $ 157 Cost of land sales 147 10 — — 157 Land sales impairments — — — — — Land sales gross margin $ — $ — $ — $ — $ — Fee building revenue $ 36,227 $ 21,193 $ 13,418 $ 10,165 $ 81,003 Cost of fee building 35,497 20,985 13,150 9,951 79,583 Fee building gross margin $ 730 $ 208 $ 268 $ 214 $ 1,420 Pretax income (loss) $ (18,413 ) $ (41,222 ) $ 1,528 $ (1,349 ) $ (59,456 ) Net income (loss) attributable to The New Home Company Inc. $ (8,476 ) $ (24,293 ) $ 1,188 $ (1,238 ) $ (32,819 ) Basic earnings (loss) per share attributable to The New Home Company Inc. (1) $ (0.42 ) $ (1.32 ) $ 0.07 $ (0.07 ) $ (1.76 ) Diluted earnings (loss) per share attributable to The New Home Company Inc. (1) $ (0.42 ) $ (1.32 ) $ 0.06 $ (0.07 ) $ (1.76 ) 2019 Home sales revenue $ 99,186 $ 140,464 $ 118,781 $ 173,921 $ 532,352 Cost of home sales 86,569 123,525 105,763 153,700 469,557 Home sales impairments — — 1,700 6,600 8,300 Homebuilding gross margin $ 12,617 $ 16,939 $ 11,318 $ 13,621 $ 54,495 Land sales revenue $ — $ — $ 24,573 $ 17,091 $ 41,664 Cost of land sales — — 26,078 17,091 43,169 Land sales impairments — — 1,900 — 1,900 Land sales gross margin $ — $ — $ (3,405 ) $ — $ (3,405 ) Fee building revenue $ 19,662 $ 22,285 $ 22,262 $ 31,124 $ 95,333 Cost of fee building 19,268 21,770 21,615 30,628 93,281 Fee building gross margin $ 394 $ 515 $ 647 $ 496 $ 2,052 Pretax income (loss) $ (2,651 ) $ 2,565 $ (4,778 ) $ (6,952 ) $ (11,816 ) Net income (loss) attributable to The New Home Company Inc. $ (1,987 ) $ 1,572 $ (4,624 ) $ (2,998 ) $ (8,037 ) Basic earnings (loss) per share attributable to The New Home Company Inc. (1) $ (0.10 ) $ 0.08 $ (0.23 ) $ (0.15 ) $ (0.40 ) Diluted earnings (loss) per share attributable to The New Home Company Inc. (1) $ (0.10 ) $ 0.08 $ (0.23 ) $ (0.15 ) $ (0.40 ) ( 1 Some amounts do not

Note 17 - Supplemental Disclosu

Note 17 - Supplemental Disclosure of Cash Flow Information	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	17. The following table presents certain supplemental cash flow information: Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Supplemental disclosures of cash flow information Interest paid, net of amounts capitalized $ 5,246 $ — $ — Income taxes paid $ — $ 270 $ 7,110

Note 18 - Supplemental Guaranto

Note 18 - Supplemental Guarantor Information	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Supplemental Guarantor Information [Text Block]	18. The 2025 2025 2025 2025 2025 1 no 2 3 not not no 4 5 not 6 may 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 2025 December 31, 2020, 100% not no not 15.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The 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 financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") as contained within the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC"). 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 consolidated financial statements and notes. Accordingly, actual results could differ materially from these estimates.
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications No
Segment Reporting, Policy [Policy Text Block]	Segment Reporting ASC 280, Segment Reporting 280" 280,
Cash and Cash Equivalents, Unrestricted Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents We define cash and cash equivalents as cash on hand, demand deposits with financial institutions, and short term liquid investments with a maturity date of less than three
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash Restricted cash of $0.2 million and $0.1 million as of December 31, 2020 2019 , respectively, is held in accounts for payments of subcontractor costs incurred in connection with various fee building projects. The table below shows the line items and amounts of cash and cash equivalents and restricted cash as reported within the Company's 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 consolidated statements of cash flows. Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Cash and cash equivalents $ 107,279 $ 79,314 $ 42,273 Restricted cash 180 117 269 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 107,459 $ 79,431 $ 42,542
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 f operations. For the years ended December 31, 2020, 2019 2018 , we recorded inventory impairments of $19.0 million, $10.2 million and $10.0 million, respectively. For additional detail regarding these impairment charges, please see Note 4. December 31, 2020, 2019 2018,
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: The Company adopted ASC 606 January 1, 2018, 606. January 1, 2018. 970, no 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 building revenues have historically been concentrated with a small number of customers. For the years ended December 31, 2020, 2019 2018 one d 91% , 9 5% third December 31, 2020 2019 one
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 December 31, 2020 $8.9 milli As of December 31, 2020 2019 not 810,
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block]	Non-controlling Interest During 2013, third 810, not 2020,
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 December 31, 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." For the years ended December 31, 2020, 2019 2018 820 . not December 31, 2020, 2019 2018
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 consolidated balance sheets under ASC 340, Other Assets and Deferred Costs 340" 30
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 December 31, 2020 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 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 December 31, 2020, 2019 2018 of $6.7 million, $9.0 million and $6.6 million, respectively.
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 740, December 31, 2020, not December 31, 2019, no 14 ASC 740 not, not December 31, 2020 no The Company classifies any interest and penalties related to income taxes assessed as part of income tax expense. As of December 31, 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" 505 50, Equity – Equity Based Payments to Non-Employees 505 50" ASC 718 718 On February 16, 2017, 505 50, Based on the terms and conditions of Mr. Stelmar's consulting agreement noted above, we accounted for his share-based awards in accordance with ASC 505 50 March 31, 2018. 505 50 505 50 505 50 In June 2018, No. 2018 07, Improvements to Nonemployee Share-Based Payment Accounting 2018 07" 718 718, 2018 07 April 1, 2018, not April 1, 2018 2018 07 one 2018 March 31, 2019.
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 year ended December 31, 2020 of $4.3 m December 31, 2019, December 31, 2018, December 31, 2020.
Tax Benefit Preservation Plan [Policy Text Block]	Tax Benefit Preservation Plan On May 8, 2020, 4.95%. one May 20, 2020. one 4.95% 1/1000 th two $11.50 one May 7, 2021, ( 382 1986, no no 382 382 not
Dividends, Policy [Policy Text Block]	Dividends No December 31, 2020, 2019 2018 not not
Pension and Other Postretirement Plans, Nonpension Benefits, Policy [Policy Text Block]	Employee Benefit Plan We have a defined contribution plan pursuant to Section 401 ay elect to make before-tax or Roth contributions up to the current tax limits. The Company matches 50% of the employee's contribution on the first December 31, 2020, 2019 2018 were $1.0
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards 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, nd ASU 2020 02, Financial Instruments - Credit Losses (Topic 326 842 February 2020 January 1, 2020 , and requires full retrospective application upon adoption. During November 2019 , the FASB issued ASU 2019 10 , Financial Instruments - Credit Losses (Topic 326 815 842 that provides for additional implementation time for smaller repor December 15, 2022 , not 2016 13 January 1, 2020, not In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13" 2018 13 2018 13 January 1, 2020 no In December 2019, 2019 12, Income Taxes (Topic 740 Simplifying the Accounting for Income Taxes 2019 12" December 15, 2020, not 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, 2020 01 no In March 2020, 3 10 X. December 31, 2020 no October 2020, 2020 09, Debt (Topic 470 No. 33 10762 2020 09" ) In October 2020, 2020 10, Codification Improvements 2020 10" 2020 10 December 15, 2020, The Company is currently evaluating ASU 2020 10 no

Note 1 - Organization and Sum_2

Note 1 - Organization and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Cash and cash equivalents $ 107,279 $ 79,314 $ 42,273 Restricted cash 180 117 269 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 107,459 $ 79,431 $ 42,542

Note 2 - Computation of Loss _2

Note 2 - Computation of Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended December 31, 2020 2019 2018 (Dollars in thousands, except per share amounts) Numerator: Net loss attributable to The New Home Company Inc. $ (32,819 ) $ (8,037 ) $ (14,216 ) Denominator: Basic weighted-average shares outstanding 18,680,993 20,063,148 20,703,967 Effect of dilutive shares: Stock options and unvested restricted stock units — — — Diluted weighted-average shares outstanding 18,680,993 20,063,148 20,703,967 Basic loss per share attributable to The New Home Company Inc. $ (1.76 ) $ (0.40 ) $ (0.69 ) Diluted loss per share attributable to The New Home Company Inc. $ (1.76 ) $ (0.40 ) $ (0.69 ) Antidilutive stock options and unvested restricted stock units not included in diluted loss per share 1,886,226 1,320,400 1,311,802

Note 3 - Contracts and Accoun_2

Note 3 - Contracts and Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	December 31, 2020 2019 (Dollars in thousands) Contracts receivable: Costs incurred on fee building projects $ 79,583 $ 93,281 Estimated earnings 1,420 2,052 81,003 95,333 Less: amounts collected during the period (77,861 ) (84,979 ) Contracts receivable $ 3,142 $ 10,354 Contracts receivable: Billed $ — $ — Unbilled 3,142 10,354 3,142 10,354 Accounts receivable: Escrow receivables 1,782 5,392 Other receivables — 236 Contracts and accounts receivable $ 4,924 $ 15,982

Note 4 - Real Estate Inventor_2

Note 4 - Real Estate Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Inventory, Noncurrent [Table Text Block]	December 31, 2020 2019 (Dollars in thousands) Deposits and pre-acquisition costs $ 12,202 $ 17,865 Land held and land under development 127,807 180,823 Homes completed or under construction 133,567 183,711 Model homes 41,381 51,539 $ 314,957 $ 433,938
Asset Impairment Charges [Text Block]	Year Ended December 31, 2020 2019 2018 (Dollars in Thousands) Inventory impairments: Home sales $ 19,000 $ 8,300 $ 10,000 Land sales — 1,900 — Total inventory impairments $ 19,000 $ 10,200 $ 10,000 Remaining carrying value of inventory impaired at year end $ 47,178 $ 81,622 $ 57,845 Number of projects impaired during the year 5 3 2 Total number of projects subject to periodic impairment review during the year (1) 31 27 26

Note 5 - Capitalized Interest (

Note 5 - Capitalized Interest (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Interest Income and Interest Expense Disclosure [Table Text Block]	Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Interest incurred $ 23,936 $ 28,819 $ 28,377 Interest capitalized to inventory (20,281 ) (28,819 ) (27,393 ) Interest capitalized to investment in unconsolidated joint ventures — — (984 ) Interest expensed $ 3,655 $ — $ — Capitalized interest in beginning inventory $ 26,397 $ 25,681 $ 16,453 Interest capitalized as a cost of inventory 20,281 28,819 27,393 Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition — 31 513 Previously capitalized interest included in cost of home and land sales (23,864 ) (28,134 ) (18,678 ) Previously capitalized interest included in project abandonment costs (761 ) — — Capitalized interest in ending inventory $ 22,053 $ 26,397 $ 25,681 Capitalized interest in beginning investment in unconsolidated joint ventures $ 541 $ 713 $ 1,472 Interest capitalized to investment in unconsolidated joint ventures — — 984 Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition — (31 ) (513 ) Previously capitalized interest included in equity in net loss of unconsolidated joint ventures (541 ) (141 ) (1,230 ) Capitalized interest in ending investment in unconsolidated joint ventures — 541 713 Total capitalized interest in ending inventory and investments in unconsolidated joint ventures $ 22,053 $ 26,938 $ 26,394 Capitalized interest as a percentage of inventory 7.0 % 6.1 % 4.5 % Interest included in cost of home sales as a percentage of home sales revenue 5.6 % 4.9 % 3.7 % Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures — % 1.8 % 2.1 %

Note 6 - Investments in and A_2

Note 6 - Investments in and Advances to Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Equity Method Investments [Table Text Block]	December 31, 2020 2019 (Dollars in thousands) Cash and cash equivalents $ 16,709 $ 31,484 Restricted cash 611 13,852 Real estate inventories 3,172 241,416 Other assets 1,834 3,843 Total assets $ 22,326 $ 290,595 Accounts payable and accrued liabilities $ 13,487 $ 16,778 Notes payable — 28,665 Total liabilities 13,487 45,443 The New Home Company's equity (1) 2,107 27,722 Other partners' equity 6,732 217,430 Total equity 8,839 245,152 Total liabilities and equity $ 22,326 $ 290,595 Debt-to-capitalization ratio — % 10.5 % Debt-to-equity ratio — % 11.7 % Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Revenues $ 137,819 $ 164,038 $ 181,623 Cost of sales and expenses 161,772 230,953 209,527 Net loss of unconsolidated joint ventures $ (23,953 ) $ (66,915 ) $ (27,904 ) Equity in net loss of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations $ (18,791 ) $ (3,503 ) $ (19,653 ) Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Revenues $ 55,517 $ 33,144 $ 38,789 Cost of sales: Land sales 74,279 31,103 36,676 Inventory impairments — 70,000 28,776 Gross margin (18,762 ) (67,959 ) (26,663) Expenses (2,742 ) (2,879 ) (3,289 ) Net loss $ (21,504 ) $ (70,838 ) $ (29,952 ) Equity in net loss of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations (1) $ (17,744 ) $ (3,656 ) $ (20,283 )
Joint Venture Impairment [Table Text Block]	Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Joint venture impairments related to: Homebuilding joint ventures $ — $ — $ — Land development joint ventures — 70,000 28,776 Total joint venture impairments $ — $ 70,000 $ 28,776 Number of projects impaired during the year — 1 1 Total number of projects included in unconsolidated joint ventures and reviewed for impairment during the year 10 10 10

Note 7 - Other Assets (Tables)

Note 7 - Other Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Other Assets [Table Text Block]	December 31, 2020 2019 (Dollars in thousands) Capitalized selling and marketing costs, net (1) $ 5,895 $ 7,148 Prepaid income taxes (2) 27,866 1,032 Insurance receivable (3) 4,816 10,900 Warranty insurance receivable (4) 2,480 1,852 Prepaid expenses 6,331 2,729 Right-of-use lease assets 2,997 1,988 Other 318 231 $ 50,703 $ 25,880

Note 8 - Accrued Expenses and_2

Note 8 - Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Accrued Expenses and Other Liabilities [Table Text Block]	December 31, 2020 2019 (Dollars in thousands) Warranty accrual (1) $ 7,276 $ 7,223 Litigation reserves (2) 5,641 10,900 Accrued interest 3,172 5,796 Accrued compensation and benefits 7,106 5,350 Completion reserve 5,683 3,167 Customer deposits 2,898 3,574 Lease liabilities 3,180 2,243 Other accrued expenses 1,254 2,301 $ 36,210 $ 40,554
Schedule of Product Warranty Liability [Table Text Block]	Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Beginning warranty accrual for homebuilding projects $ 7,195 $ 6,681 $ 6,634 Warranty provision for homebuilding projects 1,789 2,363 2,330 Warranty payments for homebuilding projects (2,576 ) (2,341 ) (2,006 ) Adjustment to warranty accrual (1) 861 492 (277 ) Ending warranty accrual for homebuilding projects 7,269 7,195 6,681 Beginning warranty accrual for fee building projects 28 217 225 Warranty provision for fee building projects — 9 — Warranty efforts for fee building projects — (67 ) (70 ) Adjustment to warranty accrual for fee building projects (2) (21 ) (131 ) 62 Ending warranty accrual for fee building projects 7 28 217 Total ending warranty accrual $ 7,276 $ 7,223 $ 6,898

Note 9 - Senior Notes and Uns_2

Note 9 - Senior Notes and Unsecured Revolving Credit Facility (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Debt [Table Text Block]	December 31, 2020 2019 (Dollars in thousands) 7.25% Senior Notes due 2025, net $ 244,865 $ — 7.25% Senior Notes due 2022, net — 304,832 Unsecured revolving credit facility — — Total Indebtedness $ 244,865 $ 304,832
Debt Instrument Redemption [Table Text Block]	Year Redemption Price 2022 103.625% 2023 101.813% 2024 100.000%
Schedule of Maturities of Long-term Debt [Table Text Block]	2021 $ — 2022 — 2023 — 2024 — 2025 250,000 $ 250,000

Note 10 - Fair Value Disclosu_2

Note 10 - Fair Value Disclosures (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	December 31, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value (Dollars in thousands) 7.25% Senior Notes due 2025, net (1) $ 244,865 $ 256,875 $ — $ — 7.25% Senior Notes due 2022, net (2) $ — $ — $ 304,832 $ 298,775

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Lease, Cost [Table Text Block]	Year Ended December 31, 2020 2019 Lease cost: Lease costs included in general and administrative expenses $ 1,234 $ 1,226 Lease costs included in real estate inventories 344 503 Lease costs included in selling and marketing expenses 188 202 Net lease cost $ 1,766 $ 1,931 Other Information: Lease cash flows (included in operating cash flows) (1) $ 1,889 $ 2,056
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	2021 $ 1,031 2022 703 2023 631 2024 588 2025 478 Thereafter — Total lease payments (1) $ 3,431 Less: Interest (2) 251 Present value of lease liabilities (3) $ 3,180 2021 $ 782 2022 534 2023 556 2024 578 2025 479 Thereafter — $ 2,929

Note 13 - Stock-based Compens_2

Note 13 - Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Year Ended December 31, 2020 2019 2018 Number of Shares Weighted-Average Exercise Price per Share 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 $ 11.00 826,498 $ 11.00 Granted 161,479 $ 5.36 249,283 $ 5.76 — $ — Exercised — $ — — $ — — $ — Forfeited (8,801 ) $ 11.00 (2,736 ) $ 11.00 (5,028 ) $ 11.00 Outstanding, end of period 1,220,695 $ 9.18 1,068,017 $ 9.78 821,470 $ 11.00 Exercisable, end of period 893,028 $ 10.51 818,734 $ 11.00 821,470 $ 11.00
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Year Ended December 31, 2020 2019 2018 Number of Shares Weighted-Average Grant-Date Fair Value per Share 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 $ 10.75 562,082 $ 10.72 Granted 358,869 $ 4.78 448,468 $ 4.82 179,268 $ 11.24 Vested (244,812 ) $ 7.61 (277,401 ) $ 10.50 (271,875 ) $ 11.02 Forfeited (1,283 ) $ 11.68 (48,178 ) $ 10.91 (248 ) $ 10.05 Outstanding, end of period 704,890 $ 5.11 592,116 $ 6.36 469,227 $ 10.75
Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block]	Years Ended December 31, 2020 2019 2018 Number of Shares Weighted-Average Grant-Date Fair Value per Share 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) — $ — — $ — 125,422 $ 11.68 Vested — $ — — $ — — $ — Forfeited — $ — (125,422 ) $ 11.68 — $ — Outstanding, end of period (at target) — $ — — $ — 125,422 $ 11.68
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Expense related to: Stock options $ 307 $ 174 $ — Restricted stock units and performance share units 1,890 2,086 3,090 $ 2,197 $ 2,260 $ 3,090
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Year Ended December 31, 2020 2019 2018 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)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Current provision (benefit) for income taxes: Federal $ (28,644 ) $ (203 ) $ (67 ) State 1 (101 ) 304 (28,643 ) (304 ) 237 Deferred provision (benefit) for income taxes: Federal 6,837 (2,933 ) (4,208 ) State (4,781 ) (578 ) (2,104 ) 2,056 (3,511 ) (6,312 ) Benefit for income taxes $ (26,587 ) $ (3,815 ) $ (6,075 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Loss before taxes of taxable entities $ (59,456 ) $ (11,816 ) $ (20,305 ) Benefit for income taxes at federal statutory rate $ 12,485 $ 2,481 $ 4,264 (Increases) decreases in tax resulting from: Provisional rate adjustment - tax reform — — 148 NOL carryback rate differential 9,574 — — State income taxes, net of federal benefit 3,980 781 1,396 Tax credits 1,509 1,238 346 Stock compensation (276 ) (389 ) (12 ) Non-deductible expenses related to Section 162(m) (48 ) (163 ) — Other (637 ) (133 ) (67 ) Benefit for income taxes $ 26,587 $ 3,815 $ 6,075 Effective tax rate 44.7 % 32.3 % 29.9 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2020 2019 (Dollars in thousands) Net operating loss carryforwards $ 5,808 $ 2,227 Tax credit carryforwards 2,401 1,621 Reserves and accruals 2,870 2,563 Share based compensation 1,441 1,392 Inventory 3,142 3,536 Investments in joint ventures 1,226 7,080 Other 26 27 Depreciation and amortization (653 ) (393 ) Right-of-use lease asset (814 ) (550 ) Deferred tax asset, net $ 15,447 $ 17,503

Note 15 - Segment Information (

Note 15 - Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Homebuilding revenues: California home sales $ 383,536 $ 472,242 $ 504,029 California land sales 157 41,664 — Arizona home sales 42,715 60,110 — Total homebuilding revenues 426,408 574,016 504,029 Fee building revenues, including management fees 81,003 95,333 163,537 Total revenues $ 507,411 $ 669,349 $ 667,566 Homebuilding pretax loss: California $ (35,609 ) $ (5,724 ) $ (19,594 ) Arizona (25,267 ) (8,144 ) (5,112 ) Total homebuilding pretax loss (60,876 ) (13,868 ) (24,706 ) Fee building pretax income, including management fees 1,420 2,052 4,401 Total pretax loss $ (59,456 ) $ (11,816 ) $ (20,305 ) December 31, 2020 2019 (Dollars in thousands) Homebuilding assets: California $ 295,340 $ 416,179 Arizona 70,457 82,234 Total homebuilding assets 365,797 498,413 Fee building assets 3,756 11,193 Corporate unallocated assets 126,146 93,583 Total assets $ 495,699 $ 603,189

Note 16 - Results of Quarterl_2

Note 16 - Results of Quarterly Operations (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Quarterly Financial Information [Table Text Block]	First Quarter Second Quarter Third Quarter Fourth Quarter Total (Dollars in thousands, except per share amounts) 2020 Home sales revenue $ 95,659 $ 77,757 $ 117,426 $ 135,409 $ 426,251 Cost of home sales 84,722 66,216 100,775 115,313 367,026 Home sales impairments — 19,000 — — 19,000 Homebuilding gross margin $ 10,937 $ (7,459 ) $ 16,651 $ 20,096 $ 40,225 Land sales revenue $ 147 $ 10 $ — $ — $ 157 Cost of land sales 147 10 — — 157 Land sales impairments — — — — — Land sales gross margin $ — $ — $ — $ — $ — Fee building revenue $ 36,227 $ 21,193 $ 13,418 $ 10,165 $ 81,003 Cost of fee building 35,497 20,985 13,150 9,951 79,583 Fee building gross margin $ 730 $ 208 $ 268 $ 214 $ 1,420 Pretax income (loss) $ (18,413 ) $ (41,222 ) $ 1,528 $ (1,349 ) $ (59,456 ) Net income (loss) attributable to The New Home Company Inc. $ (8,476 ) $ (24,293 ) $ 1,188 $ (1,238 ) $ (32,819 ) Basic earnings (loss) per share attributable to The New Home Company Inc. (1) $ (0.42 ) $ (1.32 ) $ 0.07 $ (0.07 ) $ (1.76 ) Diluted earnings (loss) per share attributable to The New Home Company Inc. (1) $ (0.42 ) $ (1.32 ) $ 0.06 $ (0.07 ) $ (1.76 ) 2019 Home sales revenue $ 99,186 $ 140,464 $ 118,781 $ 173,921 $ 532,352 Cost of home sales 86,569 123,525 105,763 153,700 469,557 Home sales impairments — — 1,700 6,600 8,300 Homebuilding gross margin $ 12,617 $ 16,939 $ 11,318 $ 13,621 $ 54,495 Land sales revenue $ — $ — $ 24,573 $ 17,091 $ 41,664 Cost of land sales — — 26,078 17,091 43,169 Land sales impairments — — 1,900 — 1,900 Land sales gross margin $ — $ — $ (3,405 ) $ — $ (3,405 ) Fee building revenue $ 19,662 $ 22,285 $ 22,262 $ 31,124 $ 95,333 Cost of fee building 19,268 21,770 21,615 30,628 93,281 Fee building gross margin $ 394 $ 515 $ 647 $ 496 $ 2,052 Pretax income (loss) $ (2,651 ) $ 2,565 $ (4,778 ) $ (6,952 ) $ (11,816 ) Net income (loss) attributable to The New Home Company Inc. $ (1,987 ) $ 1,572 $ (4,624 ) $ (2,998 ) $ (8,037 ) Basic earnings (loss) per share attributable to The New Home Company Inc. (1) $ (0.10 ) $ 0.08 $ (0.23 ) $ (0.15 ) $ (0.40 ) Diluted earnings (loss) per share attributable to The New Home Company Inc. (1) $ (0.10 ) $ 0.08 $ (0.23 ) $ (0.15 ) $ (0.40 )

Note 17 - Supplemental Disclo_2

Note 17 - Supplemental Disclosure of Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Year Ended December 31, 2020 2019 2018 (Dollars in thousands) Supplemental disclosures of cash flow information Interest paid, net of amounts capitalized $ 5,246 $ — $ — Income taxes paid $ — $ 270 $ 7,110

Note 1 - Organization and Sum_3

Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual)		May 08, 2020$ / sharesshares	Jan. 31, 2018	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2020	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)shares	Jan. 01, 2018USD ($)	Dec. 31, 2017USD ($)
Public Float Value				$ 46,000,000
Restricted Cash, Total							$ 180,000	$ 117,000	$ 269,000
Inventory Write-down							19,000,000	10,200,000	10,000,000
Abandoned Project Costs							14,098,000	94,000	206,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance							197,442,000	232,759,000	240,030,000		$ 264,080,000
Deferred Costs, Total	[1]						5,895,000	7,148,000
Nonrefundable Cash Deposits							8,900,000
Equity Method Investment, Impairment of Joint Ventures							0	70,000,000	28,776,000
Equity Method Investment, Impairment of Joint Venture Allocated to Company							$ 0	3,500,000	18,900,000
Period of General Warranty (Year)							1 year
Accounts Receivable, Allowance for Credit Loss, Ending Balance							$ 0	0
Capitalized Selling and Marketing Cost, Amortization Period (Month)							30 months
Depreciation, Total							$ 6,721,000	8,957,000	$ 6,631,000
Deferred Tax Assets, Valuation Allowance, Total							20,000	$ 0
Income Tax Examination, Penalties and Interest Accrued, Total							$ 0
Stock Repurchased and Retired During Period, Shares (in shares) | shares							2,160,792	153,916	1,003,116
Stock Repurchased and Retired During Period, Value							$ 4,279,000	$ 1,042,000	$ 8,563,000
Stock Repurchased and Retired During Period, Less Commissions, Value									8,500,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount							$ 9,400,000
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
Preferred Stock Purchase Right, Exercise Price (in dollars per share) | $ / shares		$ 11.50
Dividends, Common Stock, Total							$ 0	$ 0	0
Defined Contribution Plan, Employer Matching Contribution, Percent of Match							50.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay							8.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount							$ 11,400
Defined Contribution Plan, Employer Discretionary Contribution Amount							1,000,000	1,000,000	1,000,000
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance							5,765,000	38,584,000	46,621,000		64,307,000
Stock Repurchased and Retired During Period, Value							0	0	123,000
Additional Paid-in Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance							191,496,000	193,862,000	193,132,000		199,474,000
Stock Repurchased and Retired During Period, Value							4,257,000	1,040,000	8,430,000
Unconsolidated Joint Ventures [Member]
Equity Method Investment, Other than Temporary Impairment				$ 20,000,000	$ 2,300,000		$ 22,300,000	$ 0	$ 1,100,000
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)							5 years
Maximum [Member] | Unconsolidated Joint Ventures [Member]
Equity Method Investment, Ownership Percentage							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%
Customer Concentration Risk [Member] | Fee Building Revenue [Member]
Number of Major Customers			1				1	1
Concentration Risk, Percentage							91.00%	95.00%	95.00%
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							35.00%	65.00%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Separate Fee Building Customer [Member]
Concentration Risk, Percentage							25.00%	0.00%
Accounting Standards Update 2014-09 [Member]
Deferred Costs, Total										$ 4,700,000
Deferred Tax Assets, Gross, Total										1,300,000
Cumulative Effect, Period of Adoption, Adjustment [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance											(3,365,000)
Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance											(3,347,000)
Cumulative Effect, Period of Adoption, Adjustment [Member] | Additional Paid-in Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance											$ (18,000)
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2014-09 [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance										3,400,000
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2018-07 [Member] | Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance										18,000
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2018-07 [Member] | Additional Paid-in Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance										$ (18,000)
[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 $2.2 million and $2.6 million as of December 31, 2020 and 2019, respectively. The Company depreciated $6.5 million and $8.7 million, of capitalized selling and marketing costs to selling and marketing expenses during the years ended December 31, 2020 and 2019, respectively.

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	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents	$ 107,279	$ 79,314	$ 42,273
Restricted cash	180	117	269
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows	$ 107,459	$ 79,431	$ 42,542	$ 123,970

Note 2 - Computation of Loss _3

Note 2 - Computation of Loss Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2020		Sep. 30, 2020		Jun. 30, 2020		Mar. 31, 2020		Dec. 31, 2019		Sep. 30, 2019		Jun. 30, 2019		Mar. 31, 2019		Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Net loss attributable to The New Home Company Inc.	$ (1,238)		$ 1,188		$ (24,293)		$ (8,476)		$ (2,998)		$ (4,624)		$ 1,572		$ (1,987)		$ (32,819)		$ (8,037)		$ (14,216)
Basic weighted-average shares outstanding (in shares)																	18,680,993		20,063,148		20,703,967
Stock options and unvested restricted stock units (in shares)																	0		0		0
Diluted weighted-average shares outstanding (in shares)																	18,680,993		20,063,148		20,703,967
Basic earnings (loss) per share attributable to The New Home Company Inc.(1) (in dollars per share)	$ (0.07)	[1]	$ 0.07	[1]	$ (1.32)	[1]	$ (0.42)	[1]	$ (0.15)	[1]	$ (0.23)	[1]	$ 0.08	[1]	$ (0.10)	[1]	$ (1.76)	[1]	$ (0.40)	[1]	$ (0.69)
Diluted earnings (loss) per share attributable to The New Home Company Inc.(1) (in dollars per share)	$ (0.07)	[1]	$ 0.06	[1]	$ (1.32)	[1]	$ (0.42)	[1]	$ (0.15)	[1]	$ (0.23)	[1]	$ 0.08	[1]	$ (0.10)	[1]	$ (1.76)	[1]	$ (0.40)	[1]	$ (0.69)
Antidilutive stock options and unvested restricted stock units not included in diluted loss per share (in shares)																	1,886,226		1,320,400		1,311,802
[1]	Some amounts do not add to our full year results presented on our consolidated statement of operations due to rounding differences in quarterly and annual weighted average share calculations.

Note 3 - Contracts and Accoun_3

Note 3 - Contracts and Accounts Receivable (Details Textual) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Construction Payable	$ 2.6	$ 9.6

Note 3 - Contracts and Accoun_4

Note 3 - Contracts and Accounts Receivable - Contracts and Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Costs incurred on fee building projects	$ 79,583	$ 93,281
Estimated earnings	1,420	2,052
Contracts receivable, before collections	81,003	95,333
Less: amounts collected during the period	(77,861)	(84,979)
Contracts receivable	3,142	10,354
Billed	0	0
Unbilled	3,142	10,354
Total contracts receivable	3,142	10,354
Escrow receivables	1,782	5,392
Other receivables	0	236
Contracts and accounts receivable	$ 4,924	$ 15,982

Note 4 - Real Estate Inventor_3

Note 4 - Real Estate Inventories (Details Textual) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Inventory, Real Estate, Refundable	$ 100				$ 100				$ 100	$ 100
Impairment of Real Estate									19,000	10,200	$ 10,000
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ (1,349)	$ 1,528	$ (41,222)	$ (18,413)	$ (6,952)	$ (4,778)	$ 2,565	$ (2,651)	(59,456)	$ (11,816)	$ (20,305)
Number of Homebuilding Projects Impaired										2	2
Impairment of Long-Lived Assets to be Disposed of									14,098	$ 94	$ 206
Home Building [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total									(60,876)	(13,868)	(24,706)
Impairment of Real Estate Homes										8,300	$ 10,000
Land [Member]
Impairment of Real Estate										$ 1,900
Luxury Condominium Project in Scottsdale, Arizona [Member]
Impairment of Long-Lived Assets to be Disposed of									$ 14,000
Measurement Input, Discount Rate [Member] | Minimum [Member]
Real Estate Inventory, Measurement Input	0.14				0.17				0.14	0.17	0.09
Measurement Input, Discount Rate [Member] | Maximum [Member]
Real Estate Inventory, Measurement Input	0.26				0.19				0.26	0.19	0.16
California 1 [Member]
Impairment of Real Estate Homes									$ 17,800	$ 1,700
California 1 [Member] | Home Building [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total									(35,609)	(5,724)	$ (19,594)
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	6,600
Arizona 1 [Member] | Home Building [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total									(25,267)	(8,144)	(5,112)
Home Building Segment [Member] | California 1 [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total									(17,800)	(3,600)	$ (10,000)
Home Building Segment [Member] | Arizona 1 [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total									$ (1,200)	$ (6,600)

Note 4 - Real Estate Inventor_4

Note 4 - Real Estate Inventories - Real Estate Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deposits and pre-acquisition costs	$ 12,202	$ 17,865
Land held and land under development	127,807	180,823
Homes completed or under construction	133,567	183,711
Model homes	41,381	51,539
Inventory, Real Estate, Total	$ 314,957	$ 433,938

Note 4 - Real Estate Inventor_5

Note 4 - Real Estate Inventories - Inventory Impairments (Details) $ in Thousands		3 Months Ended			12 Months Ended
		Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Impairments					$ 19,000	$ 10,200	$ 10,000
Remaining carrying value of inventory impaired at year end			$ 81,622		$ 47,178	$ 81,622	$ 57,845
Number of projects impaired during the year					5	3	2
Total number of projects subject to periodic impairment review during the year (1)	[1]				31	27	26
Home Building [Member]
Impairments		$ 19,000	$ 6,600	$ 1,700	$ 19,000	$ 8,300	$ 10,000
Land [Member]
Impairments				$ 1,900	$ 0	$ 1,900	$ 0
[1]	Represents the peak number of real estate projects that we had during each respective year. The number of projects outstanding at the end of each year may be less than the number of projects listed herein.

Note 5 - Capitalized Interest_2

Note 5 - Capitalized Interest (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Previously Capitalized Interest Included in Project Abandonments Costs	$ 761	$ 0	$ 0
Previously Capitalized Interest Included in Inventory and Land Impairment		900
Other than Temporary Impairment Losses, Investments, Total	$ 400	$ 0	$ 1,100

Note 5 - Capitalized Interest -

Note 5 - Capitalized Interest - Summary of Interest Incurred, Capitalized, and Expensed (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest incurred	$ 23,936	$ 28,819	$ 28,377
Interest capitalized to inventory	(20,281)	(28,819)	(27,393)
Interest capitalized to investment in unconsolidated joint ventures	0	0	(984)
Interest expensed	3,655	0	0
Capitalized interest in beginning inventory	26,397	25,681	16,453
Interest capitalized as a cost of inventory	20,281	28,819	27,393
Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition	0	31	513
Previously capitalized interest included in cost of home and land sales	(23,864)	(28,134)	(18,678)
Previously capitalized interest included in project abandonment costs	(761)	0	0
Capitalized interest in ending inventory	22,053	26,397	25,681
Capitalized interest in beginning investment in unconsolidated joint ventures	541	713	1,472
Interest capitalized to investment in unconsolidated joint ventures	0	0	984
Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition	0	(31)	(513)
Previously capitalized interest included in equity in net loss of unconsolidated joint ventures	(541)	(141)	(1,230)
Capitalized interest in ending investment in unconsolidated joint ventures	0	541	713
Total capitalized interest in ending inventory and investments in unconsolidated joint ventures	$ 22,053	$ 26,938	$ 26,394
Capitalized interest as a percentage of inventory	7.00%	6.10%	4.50%
Interest included in cost of home sales as a percentage of home sales revenue	5.60%	4.90%	3.70%
Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures	0.00%	1.80%	2.10%

Note 6 - Investments in and A_3

Note 6 - Investments in and Advances to Unconsolidated Joint Ventures (Details Textual) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Equity Method Investment, Ownership Interests in Unconsolidated Joint Ventures	10				10	10	10
Equity Method Investment Basis Difference						$ 2,500
Equity Method Investment, Impairment of Joint Ventures					$ 0	70,000	$ 28,776
Equity Method Investment, Impairment of Joint Venture Allocated to Company					0	3,500	18,900
Income (Loss) from Equity Method Investments, Total					(18,791)	(3,503)	(19,653)
Revenue from Contract with Customer, Including Assessed Tax					507,411	669,349	667,566
Management Service [Member]
Revenue from Contract with Customer, Including Assessed Tax					900	1,900	3,400
Unconsolidated Joint Ventures [Member]
Equity Method Investment, Other than Temporary Impairment			$ 20,000	$ 2,300	$ 22,300	$ 0	$ 1,100
Income (Loss) from Equity Method Investments, Total	$ 4,500
Proceeds from Sale of Equity Method Investments		$ 5,100
Bedford [Member]
Equity Method Investment, Other than Temporary Impairment				$ 2,300
Minimum [Member] | Unconsolidated Joint Ventures [Member]
Equity Method Investment, Ownership Percentage	10.00%				10.00%
Maximum [Member] | Unconsolidated Joint Ventures [Member]
Equity Method Investment, Ownership Percentage	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		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents		$ 107,279	$ 79,314	$ 42,273
Restricted Cash, Total		180	117	269
Real estate inventories		314,957	433,938
Other assets		50,703	25,880
Total assets		495,699	603,189
Total liabilities		298,257	370,430
The New Home Company's equity (1)		197,442	232,647
Other partners' equity		0	112
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance		197,442	232,759	240,030	$ 264,080
Total liabilities and equity		495,699	603,189
Revenues		507,411	669,349	667,566
Net loss of unconsolidated joint ventures		(32,869)	(8,001)	(14,230)
Equity in net loss of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations		(18,791)	(3,503)	(19,653)
Inventory impairments		19,000	10,200	10,000
Gross margin		41,645	53,142	61,900
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Cash and cash equivalents		16,709	31,484
Restricted Cash, Total		611	13,852
Real estate inventories		3,172	241,416
Other assets		1,834	3,843
Total assets		22,326	290,595
Accounts payable and accrued liabilities		13,487	16,778
Notes payable		0	28,665
Total liabilities		13,487	45,443
The New Home Company's equity (1)	[1]	2,107	27,722
Other partners' equity		6,732	217,430
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance		8,839	245,152
Total liabilities and equity		$ 22,326	$ 290,595
Debt-to-capitalization ratio		0.00%	10.50%
Debt-to-equity ratio		0.00%	11.70%
Revenues		$ 137,819	$ 164,038	181,623
Cost of sales and expenses		161,772	230,953	209,527
Net loss of unconsolidated joint ventures		(23,953)	(66,915)	(27,904)
Equity in net loss of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations		(18,791)	(3,503)	(19,653)
Unconsolidated Joint Venture with More than 20 Percent Loss Allocation [Member]
Revenues		55,517	33,144	38,789
Cost of sales and expenses		74,279	31,103	36,676
Equity in net loss of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations	[2]	(17,744)	(3,656)	(20,283)
Inventory impairments		0	70,000	28,776
Gross margin		(18,762)	(67,959)	(26,663)
Expenses		(2,742)	(2,879)	(3,289)
Net loss		$ (21,504)	$ (70,838)	$ (29,952)
[1]	Balance represents the Company's interest, as reflected in the financial records of the respective joint ventures. At December 31, 2019, this balance differs from the 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.
[2]	Balance represents equity in net loss of unconsolidated joint ventures included in the statements of operations related to the Company's investment in these two unconsolidated joint ventures. The balance may differ from the amount of profit or loss allocated to the Company as reflected in each joint venture's financial records primarily due to basis differences such as other-than-temporary impairment charges, interest capitalized to the Company's investment in joint ventures, and/or profit deferral from lot sales from the joint ventures to the Company.

Note 6 - Investments in and A_5

Note 6 - Investments in and Advances to Unconsolidated Joint Ventures - Inventory Impairments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Total joint venture impairments	$ 0	$ 70,000	$ 28,776
Number of projects impaired during the year	0	1	1
Total number of projects included in unconsolidated joint ventures and reviewed for impairment during the year	10	10	10
Homebuilding Joint Ventures [Member]
Total joint venture impairments	$ 0	$ 0	$ 0
Land Development Joint Ventures [Member]
Total joint venture impairments	$ 0	$ 70,000	$ 28,776

Note 7 - Other Assets (Details

Note 7 - Other Assets (Details Textual) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Capitalized Sales and Marketing Costs, Amortized		$ 2,200	$ 2,600
Depreciation, Capitalized Selling and Marketing Costs		6,500	8,700
Income Tax Receivable, From CARES Act		27,400
Insurance Settlements Receivable	[1]	4,816	10,900
Estimated Litigation Liability		5,600	10,900
Proceeds from Insurance Settlement, Operating Activities		4,700
Adjustment to Warranty Insurance Receivable		1,200	1,400
Pretax Income (Loss) from Adjustments to Warranty Insurance Receivable		300
Ordinary Course Litigation [Member]
Estimated Litigation Liability			5,900
Increase (Decrease) in Insurance Settlements Receivable		(200)
Adjustment to Litigation Reserve, Cost of Sales		200
IBNR Construction Defect Claims [Member]
Estimated Litigation Liability			$ 5,000
Increase (Decrease) in Insurance Settlements Receivable		$ (1,200)
[1]	The Company recorded insurance receivables of $10.9 million in connection with $10.9 million of litigation reserves recorded as of December 31, 2019. During 2020, $4.7 million was paid by our insurance carrier directly to claimants related to two claims, and the Company reduced its insurance receivable estimate by $0.2 million for one claim and adjusted the incurred but not reported ("IBNR") litigation reserve by $1.2 million, resulting in an insurance receivable balance of $4.8 million at December 31, 2020 with a corresponding decrease recorded within litigation reserves and $0.2 million charged to cost of sales. For more information, please refer to Note 8.

Note 7 - Other Assets - Summary

Note 7 - Other Assets - Summary of Other Assets (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Capitalized selling and marketing costs, net	[1]	$ 5,895	$ 7,148
Prepaid income taxes	[2]	27,866	1,032
Insurance receivable	[3]	4,816	10,900
Warranty insurance receivable	[4]	2,480	1,852
Prepaid expenses		6,331	2,729
Right-of-use lease assets		2,997	1,988
Other		318	231
Other assets		$ 50,703	$ 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 $2.2 million and $2.6 million as of December 31, 2020 and 2019, respectively. The Company depreciated $6.5 million and $8.7 million, of capitalized selling and marketing costs to selling and marketing expenses during the years ended December 31, 2020 and 2019, respectively.
[2]	The amount at December 31, 2020 includes approximately $27.4 million of expected federal income tax refunds due to the recent enactment of the 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]	The Company recorded insurance receivables of $10.9 million in connection with $10.9 million of litigation reserves recorded as of December 31, 2019. During 2020, $4.7 million was paid by our insurance carrier directly to claimants related to two claims, and the Company reduced its insurance receivable estimate by $0.2 million for one claim and adjusted the incurred but not reported ("IBNR") litigation reserve by $1.2 million, resulting in an insurance receivable balance of $4.8 million at December 31, 2020 with a corresponding decrease recorded within litigation reserves and $0.2 million charged to cost of sales. For more information, please refer to Note 8.
[4]	The Company adjusted its warranty insurance receivable upward by $1.2 million during 2020 to true-up the receivable to its estimate of qualifying reimbursable expenditures which resulted in pretax income of $0.3 million for the year ended December 31, 2020. The Company adjusted its warranty insurance receivable upward by $1.4 million during 2019 to true-up the receivable to its estimate of qualifying reimbursable expenditures which resulted in pretax income of the same amount for the year ended December 31, 2019.

Note 8 - Accrued Expenses and_3

Note 8 - Accrued Expenses and Other Liabilities (Details Textual) - USD ($)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Standard Product Warranty Accrual, Estimated Recoveries From Insurance Policies		$ 2,500,000	$ 1,900,000
Estimated Litigation Liability		5,600,000	10,900,000
Insurance Settlements Receivable	[1]	4,816,000	10,900,000
Proceeds from Insurance Settlement, Operating Activities		4,700,000
Adjustment to Warranty Insurance Receivable		1,200,000	1,400,000
Pretax Income (Loss) from Adjustments to Warranty Insurance Receivable		300,000
Home Building Segment [Member]
Standard Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties		900,000	500,000	$ 43,000
Adjustment to Warranty Insurance Receivable		1,200,000		(300,000)
Pretax Income (Loss) from Adjustments to Warranty Insurance Receivable		300,000	(500,000)
Adjustment of Warranty Accrual, Impact on Net Income (Loss)				(43,000)
Fee Building Segment [Member]
Standard Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties		(21,000)	(100,000)	30,000
Adjustment of Warranty Accrual, Impact on Net Income (Loss)		21,000	100,000	(30,000)
Increase (Decrease) in Insurance Settlements Receivable				$ 32,000
Ordinary Course Litigation [Member]
Estimated Litigation Liability			5,900,000
Increase (Decrease) in Litigation Reserve		(200,000)
Increase (Decrease) in Insurance Settlements Receivable		(200,000)
IBNR Construction Defect Claims [Member]
Estimated Litigation Liability			$ 5,000,000
Increase (Decrease) in Litigation Reserve		(400,000)
Increase (Decrease) in Insurance Settlements Receviable		(1,000,000)
Increase (Decrease) in Insurance Settlements Receivable		(1,200,000)
IBNR Construction Defect Claims [Member] | Cost of Sales [Member]
Expense Recorded Related to Additional Self-insured Retention Deductibles		$ 600,000
[1]	The Company recorded insurance receivables of $10.9 million in connection with $10.9 million of litigation reserves recorded as of December 31, 2019. During 2020, $4.7 million was paid by our insurance carrier directly to claimants related to two claims, and the Company reduced its insurance receivable estimate by $0.2 million for one claim and adjusted the incurred but not reported ("IBNR") litigation reserve by $1.2 million, resulting in an insurance receivable balance of $4.8 million at December 31, 2020 with a corresponding decrease recorded within litigation reserves and $0.2 million charged to cost of sales. 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		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Warranty accrual(1)		$ 7,276	$ 7,223	$ 6,898
Estimated Litigation Liability		5,600	10,900
Accrued Liabilities and Other Liabilities, Total		36,210	40,554
Accrued Liabilities and Other Liabilities [Member]
Warranty accrual(1)	[1]	7,276	7,223
Estimated Litigation Liability	[2]	5,641	10,900
Accrued interest		3,172	5,796
Accrued compensation and benefits		7,106	5,350
Completion reserve		5,683	3,167
Customer deposits		2,898	3,574
Operating Lease, Liability, Total		3,180	2,243
Other accrued expenses		$ 1,254	$ 2,301
[1]	Included in the amount at December 31, 2020 and 2019 is approximately $2.5 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 year ended December 31, 2020, $4.7 million was paid by our insurance carrier directly to claimants related to two claims, and the Company decreased its litigation reserve estimate by $0.2 million for one claim and decreased the IBNR litigation reserve by a net $0.4 million ($1.0 million corresponding decrease in insurance receivables, and a $0.6 million increase in cost of sales) resulting in a litigation reserve balance of $5.6 million at December 31, 2020.

Note 8 - Accrued Expenses and_5

Note 8 - Accrued Expenses and Other Liabilities - Changes in Warranty Accrual (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Beginning warranty accrual		$ 7,223	$ 6,898
Ending warranty accrual		7,276	7,223	$ 6,898
Home Building Segment [Member]
Beginning warranty accrual		7,195	6,681	6,634
Warranty provision		1,789	2,363	2,330
Warranty payments		(2,576)	(2,341)	(2,006)
Adjustment to warranty accrual	[1]	861	492	(277)
Ending warranty accrual		7,269	7,195	6,681
Fee Building Segment [Member]
Beginning warranty accrual		28	217	225
Warranty provision		0	9	0
Warranty payments		0	(67)	(70)
Adjustment to warranty accrual	[2]	(21)	(131)	62
Ending warranty accrual		$ 7	$ 28	$ 217
[1]	During 2020 the Company recorded an adjustment of $0.9 million to increase its warranty accrual for homebuilding projects based on the expected warranty experience rates which resulted in a corresponding increase of $1.2 million to warranty insurance recoveries included in other assets in the accompany consolidated balance sheets and a $0.3 million credit to cost of sales in the accompanying consolidated statement of operations. During 2019, the Company recorded a warranty accrual adjustment of $0.5 million due to higher expected warranty expenditures which resulted in an increase of the same amount to cost of home sales in the accompanying consolidated statement of operations. During 2018, the estimated amount to be covered by our insurance policies was reduced by $0.3 million. Netted against the amount recorded in 2018 is a warranty accrual adjustment of $43,000 related to higher expected warranty expenditures which resulted in an increase of $43,000 to cost of home sales in the accompanying consolidated statement of operations.
[2]	During 2020, the Company recorded an adjustment of $21,000 to decrease its warranty accrual for fee building projects based on the expected warranty experience rates which resulted in a corresponding decrease to fee building cost of sales in the accompanying consolidated statement of operations. In 2019, the Company recorded an adjustment of $0.1 million due to a lower experience rate of expected warranty expenditures for fee building projects which resulted in a reduction of the same amount to fee cost of sales in the accompanying consolidated statement of operations. During 2018, the warranty reserve and corresponding warranty insurance recoveries balances were increased by approximately $32,000, and the warranty reserve accrual was further adjusted by approximately $30,000 related to higher expected warranty expenditures which resulted in an increase to fee cost of sales of the same amount in the accompanying consolidated statement of operations.

Note 9 - Senior Notes and Uns_3

Note 9 - Senior Notes and Unsecured Revolving Credit Facility (Details Textual) - USD ($) $ in Thousands	Nov. 12, 2020	Oct. 30, 2020	Oct. 28, 2020	Apr. 15, 2020	Nov. 12, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Oct. 14, 2022	Jun. 26, 2020	May 04, 2017	Mar. 17, 2017
Early Repayment of Senior Debt						$ 312,410	$ 15,605	$ 0
Gain (Loss) on Extinguishment of Debt, Total						(7,254)	1,164	$ 0
Proceeds from Paycheck Protection Program Under CARES Act				$ 7,000
Revolving Credit Facility [Member]
Debt Issuance Costs, Net, Total							500
Line of Credit Facility, Maximum Borrowing Capacity										$ 60,000
Long-term Line of Credit, Total						0	0
Accordion Feature [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 150,000
Letter of Credit [Member]
Letters of Credit Outstanding, Amount							0
Letters of Credit Sublimit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity										$ 10,000
New Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Instrument, Interest Rate, Effective Percentage						4.40%
Debt Issuance Costs, Net, Total						$ 1,500
Line of Credit Facility, Maximum Borrowing Capacity		$ 60,000
Aggregate Maximum Borrowing Capacity		100,000
Long-term Line of Credit, Total						0
Debt Instrument, Covenant, Minimum Consolidated Tangible Net Worth		$ 150,000
Debt Instrument, Covenant, Percentage of Cumulative Consolidated Net Income Per Quarter		50.00%
Debt Instrument, Covenant, Minimum Liquidity		$ 10,000
New Credit Agreement [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument, Covenant, Net Leverage Ratio		60.00%
Debt Instrument, Covenant, Interest Coverage Ratio		1.75
New Credit Agreement [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		3.50%
New Credit Agreement [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		4.50%
New Credit Agreement [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.50%
New Credit Agreement [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		3.50%
New Credit Agreement [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 30,000
Letters of Credit Outstanding, Amount						0
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Debt Instrument, Face Amount												$ 250,000
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							1,100
Debt Instrument, Unamortized Premium, Total							900
Debt Issuance Costs, Net, Total							3,000
Extinguishment of Debt, Amount						15,700	17,000
Early Repayment of Senior Debt						14,800	15,600
Gain (Loss) on Extinguishment of Debt, Total						800	1,200
Write off of Deferred Debt Issuance Cost						100	$ 200
Senior Notes [Member] | Senior Notes Due 2022 [Member] | Redemption on November 12, 2020 [Member]
Gain (Loss) on Extinguishment of Debt, Total	$ (8,000)
Interest Expense, Debt, Total					$ 800
Senior Notes [Member] | Senior Notes Due 2022, Additional [Member]
Debt Instrument, Face Amount											$ 75,000
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%
Senior Notes [Member] | 7.25% Senior Notes Due 2025 [Member]
Debt Instrument, Face Amount			$ 250,000
Debt Instrument, Interest Rate, Stated Percentage			7.25%
Percent of Debt Instrument Face Amount, Value Issued			100.00%
Debt Instrument, Interest Rate, Effective Percentage			7.25%
Debt Issuance Costs, Net, Total						$ 5,100
Debt Instrument, Redemption Price, Percentage			101.813%
DebtInstrument Exceptions To Limitation On Additional Indebtedness Maximum Borrowing Amount			$ 100,000
Percent Of Consolidated Tangible Assets General Basket Exception To Limitation For Restricted Payments To Be Made			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			$ 15,000
Percent Of Consolidated Tangible Assets General Basket Exception To Limitation For Restricted Payments To Be Made, Covenant Maximum General Basket, Percent			3.00%
Senior Notes [Member] | 7.25% Senior Notes Due 2025 [Member] | Forecast [Member]
Percent of Debt Instrument Face Amount, Value Issued									107.25%
Senior Notes [Member] | 7.25% Senior Notes Due 2025 [Member] | Change in Control [Member]
Percent of Debt Instrument Face Amount, Value Issued						101.00%

Note 9 - Senior Notes and Uns_4

Note 9 - Senior Notes and Unsecured Revolving Credit Facility - Indebtedness (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Senior Notes		$ 244,865	$ 304,832
Total Indebtedness		244,865	304,832
Revolving Credit Facility [Member]
Long-term Line of Credit, Total		0	0
7.25% Senior Notes Due 2025 [Member] | Senior Notes [Member]
Senior Notes	[1]	244,865	0
Senior Notes Due 2022 [Member] | Senior Notes [Member]
Senior Notes	[2]	$ 0	$ 304,832
[1]	The carrying value for the 2025 Notes, as presented at December 31, 2020, is net of the unamortized unamortized debt issuance costs of $5.1 million. The unamortized debt issuance costs are not factored into the estimated fair value.
[2]	The carrying value of 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) - Senior Notes [Member]	Oct. 28, 2020	Mar. 17, 2017
7.25% Senior Notes Due 2025 [Member]
Debt Instrument, Interest Rate, Stated Percentage	7.25%
Senior Notes Due 2022 [Member]
Debt Instrument, Interest Rate, Stated Percentage		7.25%

Note 9 - Senior Notes and Uns_6

Note 9 - Senior Notes and Unsecured Revolving Credit Facility - Redemption Prices (Details) - 7.25% Senior Notes Due 2025 [Member] - Senior Notes [Member]	Oct. 28, 2020	Dec. 31, 2020
Redemption Price	101.813%
Year 2022 [Member]
Redemption Price		103.625%
Year 2023 [Member]
Redemption Price		101.813%
Year 2024 [Member]
Redemption Price		100.00%

Note 9 - Senior Notes and Uns_7

Note 9 - Senior Notes and Unsecured Revolving Credit Facility - Maturities of Notes Payable (Details) $ in Thousands	Dec. 31, 2020USD ($)
2021	$ 0
2022	0
2023	0
2024	0
2025	250,000
Total long term debt maturities	$ 250,000

Note 10 - Fair Value Disclosu_3

Note 10 - Fair Value Disclosures (Details Textual) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Impairment of Real Estate					$ 19,000	$ 10,200	$ 10,000
Inventory Write-down					19,000	10,200	10,000
Impaired Inventory, Ending Balance			$ 81,622		47,178	81,622	57,845
Unconsolidated Joint Ventures [Member]
Equity Method Investment, Other than Temporary Impairment	$ 20,000	$ 2,300			22,300	0	1,100
Home Building [Member]
Inventory Write-down	$ 19,000		6,600	$ 1,700	19,000	8,300	10,000
Land [Member]
Impairment of Real Estate						1,900
Inventory Write-down				$ 1,900	0	1,900	$ 0
Senior Notes [Member] | 7.25% Senior Notes Due 2025 [Member]
Debt Issuance Costs, Net, Total					$ 5,100
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Debt Issuance Costs, Net, Total			3,000			3,000
Debt Instrument, Unamortized Discount, Total			1,100			1,100
Debt Instrument, Unamortized Premium, Total			$ 900			$ 900

Note 10 - Fair Value Disclosu_4

Note 10 - Fair Value Disclosures - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Senior notes, net		$ 244,865	$ 304,832
Senior Notes [Member] | 7.25% Senior Notes Due 2025 [Member]
Senior notes, net	[1]	244,865	0
Senior Notes, fair value	[1]	256,875	0
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Senior notes, net	[2]	0	304,832
Senior Notes, fair value	[2]	$ 0	$ 298,775
[1]	The carrying value for the 2025 Notes, as presented at December 31, 2020, is net of the unamortized unamortized debt issuance costs of $5.1 million. The unamortized debt issuance costs are not factored into the estimated fair value.
[2]	The carrying value of 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) - Senior Notes [Member]	Oct. 28, 2020	Mar. 17, 2017
7.25% Senior Notes Due 2025 [Member]
Interest rate	7.25%
Senior Notes Due 2022 [Member]
Interest rate		7.25%

Note 11 - Commitments and Con_3

Note 11 - Commitments and Contingencies (Details Textual) $ in Thousands		12 Months Ended
		Dec. 31, 2020USD ($)ft²a	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Estimated Litigation Liability		$ 5,600	$ 10,900
Insurance Settlements Receivable	[1]	4,816	10,900
Proceeds from Insurance Settlement, Operating Activities		4,700
Operating Lease, Right-of-Use Asset		2,997	1,988
Short-term Lease, Cost		200	800
Sublease Income		$ 200	$ 200
Operating Lease, Weighted Average Remaining Lease Term (Year)		4 years 2 months 12 days	1 year 10 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent		3.70%	4.40%
Corporate Headquarters [Member]
Area of Real Estate Property (Square Foot) | ft²		13,000
Divisional Offices [Member]
Area of Real Estate Property (Square Foot) | ft²		19,500
Area of Real Estate Property, Sublet (Acre) | a		7,700
Leases for Office Facilities [Member]
Operating Lease, Expense		$ 1,200	$ 1,200	$ 1,100
Accrued Liabilities and Other Liabilities [Member]
Estimated Litigation Liability	[2]	5,641	10,900
Operating Lease, Liability, Total		3,180	2,243
Surety Bond [Member]
Loss Contingency, Range of Possible Loss, Portion Not Accrued		44,000	47,600
Loss Contingency, Estimated Remaining Costs of Work to be Completed		16,300	29,100
Corporate Joint Venture [Member] | Loans Payable [Member]
Related Party Transaction, Guarantor Obligations Underlying Asset Class, Guaranteed		0	5,800
Corporate Joint Venture [Member] | Financial Guarantee [Member]
Long-term Debt, Gross		0	28,600
Ordinary Course Litigation [Member]
Estimated Litigation Liability			5,900
Increase (Decrease) in Litigation Reserve		(200)
Increase (Decrease) in Insurance Settlements Receivable		(200)
IBNR Construction Defect Claims [Member]
Estimated Litigation Liability			$ 5,000
Increase (Decrease) in Litigation Reserve		(400)
Decrease Adjustment to Litigation Reserve		(1,000)
Increase (Decrease) in Insurance Settlements Receivable		(1,200)
IBNR Construction Defect Claims [Member] | Cost of Sales [Member]
Expense Recorded Related to Additional Self-insured Retention Deductibles		$ 600
[1]	The Company recorded insurance receivables of $10.9 million in connection with $10.9 million of litigation reserves recorded as of December 31, 2019. During 2020, $4.7 million was paid by our insurance carrier directly to claimants related to two claims, and the Company reduced its insurance receivable estimate by $0.2 million for one claim and adjusted the incurred but not reported ("IBNR") litigation reserve by $1.2 million, resulting in an insurance receivable balance of $4.8 million at December 31, 2020 with a corresponding decrease recorded within litigation reserves and $0.2 million charged to cost of sales. 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 year ended December 31, 2020, $4.7 million was paid by our insurance carrier directly to claimants related to two claims, and the Company decreased its litigation reserve estimate by $0.2 million for one claim and decreased the IBNR litigation reserve by a net $0.4 million ($1.0 million corresponding decrease in insurance receivables, and a $0.6 million increase in cost of sales) resulting in a litigation reserve balance of $5.6 million at December 31, 2020.

Note 11 - Commitments and Con_4

Note 11 - Commitments and Contingencies - Lease Costs and Cash Flow Information for Leases (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Lease costs included in general and administrative expenses		$ 1,234	$ 1,226
Lease costs included in real estate inventories		344	503
Lease costs included in selling and marketing expenses		188	202
Net lease cost		1,766	1,931
Lease cash flows (included in operating cash flows)(1)	[1]	$ 1,889	$ 2,056
[1]	Amount does not include the cost of short-term leases with terms of less than one year which totaled approximately $0.2 million and $0.8 million for the years ended December 31, 2020 and 2019, respectively, or the benefit from a sublease agreement of one of our office spaces which totaled approximately $0.2 million and $0.2 million for the years ended December 31, 2020 and 2019, respectively.

Note 11 - Commitments and Con_5

Note 11 - Commitments and Contingencies - Future Minimum Lease Payments Under Operating Leases (Details) $ in Thousands	Dec. 31, 2020USD ($)
Operating Lease, Excluding Non-cancelable Leases [Member]
2021	$ 1,031
2022	703
2023	631
2024	588
2025	478
Thereafter	0
Total lease payments	3,431	[1]
Less: Interest	251	[2]
Operating Lease, Liability, Total	3,180	[3]
Leases for Office Facilities [Member]
2021	782
2022	534
2023	556
2024	578
2025	479
Thereafter	0
Total lease payments	$ 2,929
[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. There were no legally binding minimum lease payments for leases signed but not yet commenced at December 31, 2020 and 2019.
[3]	The weighted average remaining lease term and weighted average incremental borrowing rate used in calculating our lease liabilities were 4.2 years and 3.7%, respectively, at December 31, 2020 and 1.9 years and 4.4%, respectively, at December 31, 2019.

Note 12 - Related Party Trans_2

Note 12 - Related Party Transactions (Details Textual)	Mar. 01, 2019USD ($)	Jun. 26, 2015USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018	Mar. 31, 2018USD ($)	Sep. 30, 2017USD ($)
Due from Affiliates			$ 102,000				$ 102,000	$ 238,000
Equity Method Investments			2,107,000				2,107,000	30,217,000
Income (Loss) from Equity Method Investments, Total							(18,791,000)	(3,503,000)	$ (19,653,000)
Revenue from Contract with Customer, Including Assessed Tax							507,411,000	669,349,000	667,566,000
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					$ 20,000,000	$ 2,300,000	$ 22,300,000	0	1,100,000
Income (Loss) from Equity Method Investments, Total			4,500,000
Proceeds from Sale of Equity Method Investments				$ 5,100,000
Interest Income on Note to Joint Venture [Member] | Encore McKinley [Member]
Debt Instrument, Interest Rate, Stated Percentage													10.00%
Interest Income, Related Party									100,000
Corporate Joint Venture [Member] | Construction-related Costs [Member]
Related Party Transaction, Expenses from Transactions with Related Party							2,900,000	5,500,000	6,400,000
Due from Affiliates			100,000				100,000	200,000
Corporate Joint Venture [Member] | Management Fees [Member]
Due from Affiliates			$ 36,000				36,000	0
Revenue from Related Parties							$ 900,000	1,900,000	3,400,000
Related Party [Member]
Common Stock Beneficial Ownership Percentage, Significant Amount Threshold			10.00%				10.00%
TNHC Merdian Investors LLC, and TNHC Russel Ranch LLC [Member]
Equity Method Investments			$ 100,000				$ 100,000	13,700,000
Director [Member] | Russel Ranch [Member]
Purchase Options, Land															$ 34,000,000
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]
Related Party Transaction, Amounts of Transaction							13,000	200,000	300,000
Accounts Payable, Related Parties			0				0	0
TL Fab LP [Member] | Trade Payment [Member] | Unconsolidated Joint Ventures [Member]
Related Party Transaction, Amounts of Transaction							0	0	400,000
Accounts Payable, Related Parties			0				0	0
TNHC-HW Cannery LLC [Member]
Due from Affiliates			0				0	15,000
Deferred Profit From Lot Transactions			100,000				100,000	200,000
Land Owner Fees Reimbursed							15,000	100,000	100,000
Consultant Davis [Member]
Due from Affiliates			0				0	0
Consultant Davis [Member] | Fee Building Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax							0	500,000	3,000,000
Cost of Goods and Services Sold, Total							0	500,000	2,900,000
Consultant Davis [Member] | General Contractor [Member]
Revenue from Contract with Customer, Including Assessed Tax							0	15,000	83,000
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	$ 48,000	$ 90,000
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
10% Common Stock Affiliate [Member] | Northern CA Phased Takedown [Member]
Purchase Options, Land										$ 16,100,000
Percentage of Optioned Lots Taken Down								34.00%	34.00%
Master Marketing Fees							500,000
10% Common Stock Affiliate [Member] | Northern CA Rolling Option [Member]
Land Owner Fees Reimbursed							200,000
Percentage of Optioned Lots Taken Down								26.00%	8.00%
Estimated Purchase Price										$ 56,300,000
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
Option Payment							3,000,000
Amounts Paid for Purchase of Lots							18,000,000
10% Common Stock Affiliate [Member] | Northern California Finished Lots [Member]
Purchase Options, Land									$ 8,000,000
Master Marketing Fees							300,000
Reimbursed Costs							$ 200,000
10% Common Stock Affiliate [Member] | Arizona Master Plan [Member]
Purchase Options, Land									$ 3,800,000
Percentage of Optioned Lots Taken Down							38.00%
Master Marketing Fees							$ 22,000
Deposits Assets			200,000				200,000	$ 300,000
Bedford [Member]
Purchase Options, Land											$ 9,300,000			$ 10,000,000
Percentage of Optioned Lots Taken Down								46.00%	54.00%
Master Marketing Fees							200,000
Deposits Assets								$ 1,500,000
Board Affiliate [Member] | Bedford 2 [Member]
Purchase Options, Land			10,500,000				$ 10,500,000
Percentage of Optioned Lots Taken Down							8.00%	92.00%
Master Marketing Fees							$ 300,000
Deposits Assets									$ 1,400,000
Deposit Assets Outstanding			$ 0				$ 0	$ 0
Fidelity [Member] | Payments for Record Keeping and Investment Management Services [Member]
Defined Contribution Plan, Record Keeping and Investment Management Services Paid by the Company									14,000
Defined Contribution Plan, Record Keeping and Investment Management Services Paid by the Participants									$ 6,000

Note 13 - Stock-based Compens_3

Note 13 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	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	$ 2,197	$ 2,260	$ 3,090
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 2,400
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 7 months 6 days
Performance Shares [Member]
Share-based Payment Arrangement, Expense	$ 0	$ 0	$ 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
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	70,244
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

Note 13 - Stock-based Compens_4

Note 13 - Stock-based Compensation - Common Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Common Stock Options Outstanding, number of shares (in shares)	1,068,017	821,470	826,498
Common Stock Options Outstanding, weighted-average exercise price per share (in dollars per share)	$ 9.78	$ 11	$ 11
Common Stock Options Granted, number of shares (in shares)	161,479	249,283	0
Common Stock Options Granted, weighted-average exercise price per share (in dollars per share)	$ 5.36	$ 5.76	$ 0
Common Stock Options Exercised, number of shares (in shares)	0	0	0
Common Stock Options Exercised, weighted-average exercise price per share (in dollars per share)	$ 0	$ 0	$ 0
Common Stock Options Forfeited, number of shares (in shares)	(8,801)	(2,736)	(5,028)
Common Stock Options Forfeited, weighted-average exercise price per share (in dollars per share)	$ 11	$ 11	$ 11
Common Stock Options Outstanding, number of shares (in shares)	1,220,695	1,068,017	821,470
Common Stock Options Outstanding, weighted-average exercise price per share (in dollars per share)	$ 9.18	$ 9.78	$ 11
Common Stock Options Exercisable, number of shares (in shares)	893,028	818,734	821,470
Common Stock Options Exercisable, weighted-average exercise price per share (in dollars per share)	$ 10.51	$ 11	$ 11

Note 13 - Stock-based Compens_5

Note 13 - Stock-based Compensation - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Stock Units Outstanding, number of shares (in shares)	592,116	469,227	562,082
Restricted Stock Units Outstanding, weighted-average grant date fair value per share (in dollars per share)	$ 6.36	$ 10.75	$ 10.72
Restricted Stock Units Granted, number of shares (in shares)	358,869	448,468	179,268
Restricted Stock Units Granted, weighted-average grant date fair value per share (in dollars per share)	$ 4.78	$ 4.82	$ 11.24
Restricted Stock Units Vested, number of shares (in shares)	(244,812)	(277,401)	(271,875)
Restricted Stock Units Vested, weighted-average grant date fair value per share (in dollars per share)	$ 7.61	$ 10.50	$ 11.02
Restricted Stock Units Forfeited, number of shares (in shares)	(1,283)	(48,178)	(248)
Restricted Stock Units Forfeited, weighted-average grant date fair value per share (in dollars per share)	$ 11.68	$ 10.91	$ 10.05
Restricted Stock Units Outstanding, number of shares (in shares)	704,890	592,116	469,227
Restricted Stock Units Outstanding, weighted-average grant date fair value per share (in dollars per share)	$ 5.11	$ 6.36	$ 10.75

Note 13 - Stock-based Compens_6

Note 13 - Stock-based Compensation - Performance Share Unit Activity (Details) - Performance Shares [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Stock Units Outstanding, number of shares (in shares)	0	125,422	0
Restricted Stock Units Outstanding, weighted-average grant date fair value per share (in dollars per share)	$ 0	$ 11.68	$ 0
Restricted Stock Units Granted, number of shares (in shares)	0	0	125,422
Restricted Stock Units Granted, weighted-average grant date fair value per share (in dollars per share)	$ 0	$ 0	$ 11.68
Performance Share Units Vested, number of shares (in shares)	0	0	0
Restricted Stock Units Vested, weighted-average grant date fair value per share (in dollars per share)	$ 0	$ 0	$ 0
Restricted Stock Units Forfeited, number of shares (in shares)	0	(125,422)	0
Restricted Stock Units Forfeited, weighted-average grant date fair value per share (in dollars per share)	$ 0	$ 11.68	$ 0
Restricted Stock Units Outstanding, number of shares (in shares)	0	0	125,422
Restricted Stock Units Outstanding, weighted-average grant date fair value per share (in dollars per share)	$ 0	$ 0	$ 11.68

Note 13 - Stock-based Compens_7

Note 13 - Stock-based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement, Expense	$ 2,197	$ 2,260	$ 3,090
Stock Options [Member]
Share-based Payment Arrangement, Expense	307	174	0
Restricted Stock Units and Performance Share Units [Member]
Share-based Payment Arrangement, Expense	$ 1,890	$ 2,086	$ 3,090

Note 13 - Stock-based Compens_8

Note 13 - Stock-based Compensation - Valuation Assumptions for Common Stock Options Granted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Expected term (in years) (Year)	6 years	6 years
Expected volatility	41.80%	39.90%	0.00%
Risk-free interest rate	1.40%	2.50%	0.00%
Expected dividends	0.00%	0.00%	0.00%
Weighted-average grant date fair value per share (in dollars per share)	$ 2.24	$ 2.43	$ 0

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%
Tax Cuts and Jobs Act, Change in Tax Rate, Income Tax Expense (Benefit), Total			$ 3,200
Tax Cuts and Jobs Act, Measurement Period Adjustment, Income Tax Expense (Benefit)			$ 100
Deferred Tax Assets, Operating Loss Carryforwards, Total	$ 5,808	$ 2,227
Domestic Tax Authority [Member]
Tax Credit Carryforward, Amount	$ 2,300	$ 1,600

Note 14 - Income Taxes - Income

Note 14 - Income Taxes - Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current provision (benefit) for income taxes, Federal	$ (28,644)	$ (203)	$ (67)
Current provision (benefit) for income taxes, State	1	(101)	304
Current provision (benefit) for income taxes, Total	(28,643)	(304)	237
Deferred provision (benefit) for income taxes, Federal	6,837	(2,933)	(4,208)
Deferred provision (benefit) for income taxes, State	(4,781)	(578)	(2,104)
Deferred provision (benefit) for income taxes, Total	2,056	(3,511)	(6,312)
Benefit for income taxes	$ (26,587)	$ (3,815)	$ (6,075)

Note 14 - Income Taxes - Effect

Note 14 - Income Taxes - Effective Income Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loss before taxes of taxable entities	$ (1,349)	$ 1,528	$ (41,222)	$ (18,413)	$ (6,952)	$ (4,778)	$ 2,565	$ (2,651)	$ (59,456)	$ (11,816)	$ (20,305)
Benefit for income taxes at federal statutory rate									12,485	2,481	4,264
Provisional rate adjustment - tax reform									0	0	148
NOL carryback rate differential									9,574	0	0
State income taxes, net of federal benefit									3,980	781	1,396
Tax credits									1,509	1,238	346
Stock compensation									(276)	(389)	(12)
Non-deductible expenses related to Section 162(m)									(48)	(163)	0
Other									(637)	(133)	(67)
Benefit for income taxes									$ 26,587	$ 3,815	$ 6,075
Effective tax rate									44.70%	32.30%	29.90%

Note 14 - Income Taxes - Compon

Note 14 - Income Taxes - Components of Deferred Income Tax Asset (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Net operating loss carryforwards	$ 5,808	$ 2,227
Tax credit carryforwards	2,401	1,621
Reserves and accruals	2,870	2,563
Share based compensation	1,441	1,392
Inventory	3,142	3,536
Investments in joint ventures	1,226	7,080
Other	26	27
Depreciation and amortization	(653)	(393)
Right-of-use lease asset	(814)	(550)
Deferred tax asset, net	$ 15,447	$ 17,503

Note 15 - Segment Information_2

Note 15 - Segment Information (Details Textual)	12 Months Ended
	Dec. 31, 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								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues									$ 507,411	$ 669,349	$ 667,566
Loss before taxes of taxable entities	$ (1,349)	$ 1,528	$ (41,222)	$ (18,413)	$ (6,952)	$ (4,778)	$ 2,565	$ (2,651)	(59,456)	(11,816)	(20,305)
Total assets	495,699				603,189				495,699	603,189
Corporate, Non-Segment [Member]
Total assets	126,146				93,583				126,146	93,583
Home Building Segment [Member]
Total assets	365,797				498,413				365,797	498,413
Fee Building Segment [Member]
Total assets	3,756				11,193				3,756	11,193
California 1 [Member] | Home Building Segment [Member]
Loss before taxes of taxable entities									(17,800)	(3,600)	(10,000)
Total assets	295,340				416,179				295,340	416,179
Arizona 1 [Member] | Home Building Segment [Member]
Loss before taxes of taxable entities									(1,200)	(6,600)
Total assets	70,457				82,234				70,457	82,234
Home Building [Member]
Revenues	135,409	117,426	77,757	95,659	173,921	118,781	140,464	99,186	426,251	532,352	504,029
Loss before taxes of taxable entities									(60,876)	(13,868)	(24,706)
Home Building [Member] | California 1 [Member]
Revenues									383,536	472,242	504,029
Loss before taxes of taxable entities									(35,609)	(5,724)	(19,594)
Home Building [Member] | Arizona 1 [Member]
Revenues									42,715	60,110	0
Loss before taxes of taxable entities									(25,267)	(8,144)	(5,112)
Land [Member]
Revenues			10	147	17,091	24,573			157	41,664
Land [Member] | California 1 [Member]
Revenues									157	41,664	0
Homebuilding and Land [Member]
Revenues									426,408	574,016	504,029
Construction [Member]
Revenues	$ 10,165	$ 13,418	$ 21,193	$ 36,227	$ 31,124	$ 22,262	$ 22,285	$ 19,662	81,003	95,333	163,537
Loss before taxes of taxable entities									$ 1,420	$ 2,052	$ 4,401

Note 16 - Results of Quarterl_3

Note 16 - Results of Quarterly Operations (Unaudited) - Results of Quarterly Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2020		Sep. 30, 2020		Jun. 30, 2020		Mar. 31, 2020		Dec. 31, 2019		Sep. 30, 2019		Jun. 30, 2019		Mar. 31, 2019		Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Revenues																	$ 507,411		$ 669,349		$ 667,566
Impairments																	19,000		10,200		10,000
Gross margin																	41,645		53,142		61,900
Loss before taxes of taxable entities	$ (1,349)		$ 1,528		$ (41,222)		$ (18,413)		$ (6,952)		$ (4,778)		$ 2,565		$ (2,651)		(59,456)		(11,816)		(20,305)
Net income (loss) attributable to The New Home Company Inc.	$ (1,238)		$ 1,188		$ (24,293)		$ (8,476)		$ (2,998)		$ (4,624)		$ 1,572		$ (1,987)		$ (32,819)		$ (8,037)		$ (14,216)
Basic earnings (loss) per share attributable to The New Home Company Inc.(1) (in dollars per share)	$ (0.07)	[1]	$ 0.07	[1]	$ (1.32)	[1]	$ (0.42)	[1]	$ (0.15)	[1]	$ (0.23)	[1]	$ 0.08	[1]	$ (0.10)	[1]	$ (1.76)	[1]	$ (0.40)	[1]	$ (0.69)
Diluted earnings (loss) per share attributable to The New Home Company Inc.(1) (in dollars per share)	$ (0.07)	[1]	$ 0.06	[1]	$ (1.32)	[1]	$ (0.42)	[1]	$ (0.15)	[1]	$ (0.23)	[1]	$ 0.08	[1]	$ (0.10)	[1]	$ (1.76)	[1]	$ (0.40)	[1]	$ (0.69)
Home Building [Member]
Revenues	$ 135,409		$ 117,426		$ 77,757		$ 95,659		$ 173,921		$ 118,781		$ 140,464		$ 99,186		$ 426,251		$ 532,352		$ 504,029
Cost of Sales	115,313		100,775		66,216		84,722		153,700		105,763		123,525		86,569		367,026		469,557		436,530
Impairments					19,000				6,600		1,700						19,000		8,300		10,000
Gross margin	20,096		16,651		(7,459)		10,937		13,621		11,318		16,939		12,617		40,225		54,495		57,499
Loss before taxes of taxable entities																	(60,876)		(13,868)		(24,706)
Land [Member]
Revenues					10		147		17,091		24,573						157		41,664
Cost of Sales					10		147		17,091		26,078						157		43,169
Impairments											1,900						0		1,900		0
Gross margin											(3,405)								(3,405)
Construction [Member]
Revenues	10,165		13,418		21,193		36,227		31,124		22,262		22,285		19,662		81,003		95,333		163,537
Cost of Sales	9,951		13,150		20,985		35,497		30,628		21,615		21,770		19,268		79,583		93,281		159,136
Gross margin	$ 214		$ 268		$ 208		$ 730		$ 496		$ 647		$ 515		$ 394		1,420		2,052		4,401
Loss before taxes of taxable entities																	$ 1,420		$ 2,052		$ 4,401
[1]	Some amounts do not add to our full year results presented on our consolidated statement of operations due to rounding differences in quarterly and annual weighted average share calculations.

Note 17 - Supplemental Disclo_3

Note 17 - Supplemental Disclosure of Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest paid, net of amounts capitalized	$ 5,246	$ 0	$ 0
Income taxes paid	$ 0	$ 270	$ 7,110

Note 18 - Supplemental Guaran_2

Note 18 - Supplemental Guarantor Information (Details Textual)	Dec. 31, 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%