New Home (NWHM) 10-Q 27 Jul 17 2017 Q2 Quarterly report Financial data

DEI Document

DEI Document - shares	6 Months Ended
	Jun. 30, 2017	Jul. 25, 2017
Entity [Abstract]
Entity Registrant Name	New Home Co Inc.
Entity Central Index Key	1,574,596
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		20,875,666

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017		Dec. 31, 2016
Assets
Cash and cash equivalents	$ 153,959		$ 30,496
Restricted cash	88		585
Contracts and accounts receivable	18,321		27,833
Due from affiliates	2,062		1,138
Real estate inventories	365,400		286,928
Investment in and advances to unconsolidated joint ventures	55,864		50,857
Other assets	23,916		21,299
Total assets	619,610		419,136
Liabilities and equity
Accounts payable	34,215		33,094
Accrued expenses and other liabilities	19,473		23,418
Unsecured revolving credit facility	0		118,000
Senior notes, net	318,121	[1]	0
Total liabilities	371,809		174,512
Commitments and contingencies
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, 20,875,666 and 20,712,166, shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively	209		207
Additional paid-in capital	197,983		197,161
Retained earnings	49,518		47,155
Total stockholders' equity	247,710		244,523
Noncontrolling interest in subsidiary	91		101
Total equity	247,801		244,624
Total liabilities and equity	$ 619,610		$ 419,136
[1]	(1) The carrying value for the Senior Notes, as presented, is net of the unamortized discount of $2.5 million, unamortized premium of $2.0 million, and $6.4 million of debt issuance costs. The unamortized discount, unamortized premium and debt issuance costs are not factored into the estimated fair value.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	20,875,666	20,712,166
Common stock, shares outstanding	20,875,666	20,712,166

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Home sales	$ 96,929	$ 78,836	$ 166,335	$ 121,139
Fee building, including management fees from unconsolidated joint ventures of $1,217, $2,537, $2,431 and $4,712, respectively	47,181	30,028	102,798	72,965
Revenues	144,110	108,864	269,133	194,104
Cost of Sales:
Home sales	82,488	69,390	142,553	106,060
Home sales impairments	1,300	0	1,300	0
Fee building	45,899	28,317	99,825	69,231
Cost of Sales	129,687	97,707	243,678	175,291
Gross Profit
Home sales	13,141	9,446	22,482	15,079
Gross Profit Fee Building	1,282	1,711	2,973	3,734
Gross Profit	14,423	11,157	25,455	18,813
Costs and Expenses
Selling and marketing expenses	(6,376)	(5,046)	(11,377)	(8,522)
General and administrative expenses	(5,595)	(5,833)	(10,685)	(11,008)
Equity in net income of unconsolidated joint ventures	201	3,947	507	3,940
Other income (expense), net	(148)	(286)	(35)	(395)
Income before income taxes	2,505	3,939	3,865	2,828
Provision for income taxes	(988)	(1,495)	(1,512)	(1,253)
Net income	1,517	2,444	2,353	1,575
Net loss attributable to noncontrolling interest	0	65	10	120
Net income attributable to The New Home Company Inc.	$ 1,517	$ 2,509	$ 2,363	$ 1,695
Earnings (loss) per share attributable to The New Home Company Inc.
Basic (in dollars per share)	$ 0.07	$ 0.12	$ 0.11	$ 0.08
Diluted (in dollars per share)	$ 0.07	$ 0.12	$ 0.11	$ 0.08
Weighted average number of shares outstanding
Basic (in shares)	20,869,429	20,709,139	20,819,288	20,654,998
Diluted (in shares)	20,956,723	20,760,186	20,921,150	20,745,802

Unaudited Condensed Consolidat5

Unaudited Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Management fee revenue, unconsolidated joint ventures	$ 1,217	$ 2,537	$ 2,431	$ 4,712

Unaudited Condensed Consolidat6

Unaudited Condensed Consolidated Statement of Equity - USD ($) $ in Thousands	Total	Stockholders' Equity [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]
Beginning balance at Dec. 31, 2015	$ 221,697	$ 220,775	$ 205	$ 194,437	$ 26,133	$ 922
Beginning Balance, Shares at Dec. 31, 2015			20,543,130
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,575	1,695			1,695	(120)
Noncontrolling interest distribution	(725)					725
Stock-based compensation expense	1,742	1,742		1,742
Shares net settled with the Company to satisfy minimum employee personal income tax liabilities resulting from share based compensation plans	(647)	(647)		(647)
Excess tax provision from stock-based compensation	(97)	(97)		(97)
Shares issued through stock plans	0	0	$ 2	(2)
Shares issued through stock plans, shares			168,822
Ending balance at Jun. 30, 2016	223,545	223,468	$ 207	195,433	27,828	77
Ending Balance, Shares at Jun. 30, 2016			20,711,952
Beginning balance at Dec. 31, 2016	$ 244,624	244,523	$ 207	197,161	47,155	101
Beginning Balance, Shares at Dec. 31, 2016	20,712,166		20,712,166
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 2,353	2,363			2,363	(10)
Stock-based compensation expense	1,306	1,306		1,306
Shares net settled with the Company to satisfy minimum employee personal income tax liabilities resulting from share based compensation plans	(584)	(584)		(584)
Shares issued through stock plans	102	102	$ 2	100
Shares issued through stock plans, shares			163,500
Ending balance at Jun. 30, 2017	$ 247,801	$ 247,710	$ 209	$ 197,983	$ 49,518	$ 91
Ending Balance, Shares at Jun. 30, 2017	20,875,666		20,875,666

Unaudited Condensed Consolidat7

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating activities:
Net income	$ 2,353	$ 1,575
Adjustments to reconcile net income to net cash used in operating activities:
Deferred taxes	(54)	(27)
Amortization of equity based compensation	1,306	1,742
Excess income tax provision from stock-based compensation	0	97
Distributions of earnings from unconsolidated joint ventures	1,588	1,095
Home sales impairments	1,300	0
Equity in net income of unconsolidated joint ventures	(507)	(3,940)
Deferred profit from unconsolidated joint ventures	497	332
Depreciation	236	251
Abandoned project costs	206	329
Net changes in operating assets and liabilities:
Restricted cash	497	104
Contracts and accounts receivable	9,573	9,164
Due from affiliates	(671)	88
Real estate inventories	(74,407)	(164,464)
Other assets	(2,900)	(5,832)
Accounts payable	1,160	3,737
Accrued expenses and other liabilities	(11,588)	(9,711)
Due to affiliates	0	(239)
Net cash used in operating activities	(71,411)	(165,699)
Investing activities:
Purchases of property and equipment	(95)	(296)
Cash assumed from joint venture at consolidation	995	2,009
Contributions and advances to unconsolidated joint ventures	(8,517)	(5,656)
Distributions of capital from unconsolidated joint ventures	2,948	7,405
Net cash provided by (used in) investing activities	(4,669)	3,462
Financing activities:
Borrowings from credit facility	72,000	175,000
Repayments of credit facility	(190,000)	(11,000)
Proceeds from senior notes	324,465	0
Borrowings from other notes payable	0	343
Repayments of other notes payable	0	(15,636)
Payments of Debt Issuance Costs	(6,440)	(1,064)
Cash distribution to noncontrolling interest in subsidiary	0	(725)
Minimum tax withholding paid on behalf of employees for stock awards	(584)	(647)
Excess income tax provision from stock-based compensation	0	(97)
Proceeds from Stock Options Exercised	102	0
Net cash provided by financing activities	199,543	146,174
Net increase (decrease) in cash and cash equivalents	123,463	(16,063)
Cash and cash equivalents – beginning of period	30,496	45,874
Cash and cash equivalents – end of period	$ 153,959	$ 29,811

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Summary of Significant Account Policies	Organization and Summary of Significant Accounting Policies 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. Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts have been eliminated upon consolidation. The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016 . The accompanying unaudited condensed financial statements include all adjustments (consisting of normal recurring entries) necessary for the fair presentation of our results for the interim period presented. Results for the interim period are not necessarily indicative of the results to be expected for the full year. Unless the context otherwise requires, the terms “we”, “us”, “our” and “the Company” refer to the Company and its wholly owned subsidiaries, on a consolidated basis. Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying condensed consolidated financial statements and notes. Accordingly, actual results could differ materially from these estimates. Reclassifications Certain items in the prior year condensed consolidated statement of cash flows related to capitalized selling and marketing expenses have been reclassified to conform with current year presentation. Effective July 1, 2016, capitalized selling and marketing costs were reclassified to other assets from real estate inventories. Prior year periods have been reclassified to conform. Segment Reporting Accounting Standards Codification (“ASC”) 280, Segment Reporting (“ASC 280”) established standards for the manner in which public enterprises report information about operating segments. In accordance with ASC 280, we have determined that our homebuilding division and our fee building division are our operating segments, which are also our reportable segments. Cash and Cash Equivalents We define cash and cash equivalents as cash on hand, demand deposits with financial institutions, and short term liquid investments with a maturity date of less than three months from the date of purchase. Restricted Cash Restricted cash of $0.1 million and $0.6 million as of June 30, 2017 and December 31, 2016 , respectively, is held in accounts for payments of subcontractor costs incurred in connection with various fee building projects. 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 non-refundable land deposits, are expensed to other income (expense), net if we determine continuation of the prospective project is not probable. 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 Accounting Standards Codification ("ASC") 360, Property, Plant and Equipment (“ASC 360”), inventory is stated at cost, unless the carrying amount is determined not to be recoverable, in which case inventory is written down to its fair value. We review each real estate asset on a periodic basis or whenever indicators of impairment exist. Real estate assets include projects actively selling and projects under development or held for future development. Indicators of impairment include, but are not limited to, significant decreases in local housing market values and selling prices of comparable homes, significant decreases in gross margins or sales absorption rates, costs significantly in excess of budget, and actual or projected cash flow losses. 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 remaining undiscounted future cash flows of the project are more or less than the asset’s carrying value. If the undiscounted estimated future cash flows are more than the asset’s carrying value, no impairment adjustment is required. However, if the undiscounted estimated future cash flows are less than the asset’s carrying value, the asset is deemed impaired and is written down to fair value. When estimating undiscounted estimated 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 limited to, land and land development costs, home construction costs, interest costs, indirect construction and overhead costs, and selling and marketing costs; (iv) alternative product offerings that may be offered that could have an impact on sales pace, sales price and/or building costs; and (v) alternative uses for the property. Many assumptions are interdependent and a change in one may require a corresponding change to other assumptions. For example, increasing or decreasing sales absorption rates has a direct impact on the estimated per unit sales price of a home, the level of time sensitive costs (such as indirect construction, overhead and carrying costs), and selling and marketing costs (such as model maintenance costs and advertising costs). Depending on the underlying objective of the project, assumptions could have a significant impact on the projected cash flow analysis. For example, if our objective is to preserve operating margins, our cash flow analysis will be different than if the objective is to increase the velocity of sales. These objectives may vary significantly from project to project and over time. If real estate assets are considered impaired, the impairment adjustments are calculated by determining the amount the asset's carrying value exceeds its fair value. We calculate the fair value of real estate projects using a land residual value analysis or a discounted cash flow analysis. Under the land residual value analysis, we estimate what a willing buyer would pay and what a willing seller would sell a parcel of land for (other than in a forced liquidation) in order to generate a market rate operating margin and return. Under the discounted cash flow method, the fair value is determined by calculating the present value of future cash flows using a risk adjusted discount rate. Critical assumptions that are included as part of these analyses include estimating future housing revenues, sales absorption rates, land development, construction and related carrying costs(including future capitalized interest), and all direct selling and marketing costs. This evaluation and the assumptions used by management to determine future estimated cash flows and fair value require a substantial degree of judgment, especially with respect to real estate projects that have a substantial amount of development to be completed, have not started selling or are in the early stages of sales, or are longer in duration. Actual revenues, costs and time to complete and sell a community could vary from these estimates which could impact the calculation of fair value of the asset and the corresponding amount of impairment that is recorded in our results of operations. For the three and six months ended June 30, 2017, we recorded an impairment charge of $1.3 million relating to one community in Southern California. For additional detail regarding the impairment charge, please see Note 4. 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 (“ASC 835”). Interest capitalized as a cost component of real estate inventories is included in cost of home sales as related homes or lots are sold. To the extent interest is capitalized to investment in unconsolidated joint ventures, it is included as a reduction of income from unconsolidated joint ventures when the related homes or lots are sold to third parties. To the extent our debt exceeds our qualified assets as defined in ASC 835, we expense a portion of the interest incurred by us. Qualified assets represent projects that are actively selling or under development as well as investments in unconsolidated joint ventures accounted for under the equity method until such equity investees begin their principal operations. Revenue Recognition Home Sales and Profit Recognition In accordance with ASC 360, revenue from home sales and other real estate sales are recorded and a profit is recognized when the respective homes are closed under the full accrual method. Home sales and other real estate sales are closed when all conditions of escrow are met, including delivery of the home or other real estate asset, title passes, appropriate consideration is received and collection of associated receivables, if any, is reasonably assured. Sales incentives are a reduction of revenues when the respective home is closed. The profit we record is based on the calculation of cost of sales, which is dependent on our allocation of costs, as described in more detail above in the section entitled “Real Estate Inventories and Cost of Sales.” When it is determined that the earnings process is not complete, the sale and related profit are deferred for recognition in future periods. Fee Building The Company enters into fee building agreements to provide services whereby it builds homes on behalf of independent third-party property owners. The independent third-party property owner funds all project costs incurred by the Company to build and sell the homes. The Company primarily enters into cost plus fee contracts where it charges independent third-party property owners for all direct and indirect costs plus a negotiated management fee. For these types of contracts, the Company recognizes revenue based on the actual total costs it has expended plus the applicable management fee. The management fee is typically a fixed fee based on a percentage of the cost or home sales revenue of the project depending on the terms of the agreement with the independent third-party property owner. In accordance with ASC 605, Revenue Recognition (“ASC 605”), revenues from fee building services are recognized using a cost-to-cost approach in applying the percentage-of-completion method. Under this approach, revenue is earned in proportion to total costs incurred, divided by total costs expected to be incurred. The total estimated cost plus the management fee represents the total contract value. The Company recognizes revenue based on the actual labor and other direct costs incurred, plus the portion of the management fee it has earned to date. In the course of providing its services, the Company routinely subcontracts for services and incurs other direct costs on behalf of the property owners. These costs are passed through to the property owners and, in accordance with industry practice and GAAP, are included in the Company’s revenue and cost of revenue. The Company recognizes revenue for any incentive compensation when such financial thresholds are probable of being met and such compensation is deemed to be collectible, generally at the date the amount is communicated to us by the independent third-party property owner. The Company also enters into fee building and management contracts with third parties and its unconsolidated joint ventures where it provides construction supervision services, as well as sales and marketing services, and does not bear financial risks for any services provided. In accordance with ASC 605, revenues from these services are recognized over a proportional performance method or completed performance method. Under ASC 605, revenue is earned as services are provided in proportion to total services expected to be provided to the customer or on a straight line basis if the pattern of performance cannot be determined. Costs are recognized as incurred. Revenue recognition for any portion of the fees earned from these services that are contingent upon a financial threshold or specific event is deferred until the threshold is achieved or the event occurs. The Company’s fee building revenues have historically been concentrated with a small number of customers. For the three and six months ended June 30, 2017 and 2016 , one customer comprised 97% , 98% , 92% , and 94% of fee building revenue, respectively. The balance of the fee building revenues represented management fees earned from unconsolidated joint ventures. As of June 30, 2017 and December 31, 2016 , one customer comprised 74% and 87% of contracts and accounts receivable, respectively, with the balance of accounts receivable primarily representing escrow receivables from home sales. Variable Interest Entities The Company accounts for variable interest entities in accordance with ASC 810, Consolidation (“ASC 810”). Under ASC 810, a variable interest entity (“VIE”) is created when: (a) the equity investment at risk in the entity is not sufficient to permit the entity to finance its activities without additional subordinated financial support provided by other parties, including the equity holders; (b) the entity’s equity holders as a group either (i) lack the direct or indirect ability to make decisions about the entity, (ii) are not obligated to absorb expected losses of the entity or (iii) do not have the right to receive expected residual returns of the entity; or (c) the entity’s equity holders have voting rights that are not proportionate to their economic interests, and the activities of the entity involve or are conducted on behalf of the equity holder with disproportionately few voting rights. 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 noncontrolling equity holders) lack both substantive participating rights and substantive kick-out rights, defined as follows: • Participating rights - provide the noncontrolling 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 noncontrolling equity holders to remove the general partner or managing member without cause. If we conclude that any of the three characteristics of a VIE are met, including if equity holders lack the characteristics of a controlling financial interest because they lack both substantive participating rights and substantive kick-out rights, we conclude that the entity is a VIE and evaluate it for consolidation under the variable interest model. If an entity is deemed to be a VIE pursuant to ASC 810, the enterprise that has both (i) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (ii) the obligation to absorb the expected losses of the entity or right to receive benefits from the entity that could be potentially significant to the VIE is considered the primary beneficiary and must consolidate the VIE. Under ASC 810, a non-refundable deposit paid to an entity may be deemed to be a variable interest that will absorb some or all of the entity’s expected losses if they occur. Our land purchase and lot option deposits generally represent our maximum exposure to the land seller if we elect not to purchase the optioned property. In some instances, we may also expend funds for due diligence, development and construction activities with respect to optioned land prior to takedown. Such costs are classified as real estate inventories, which we would have to write off should we not exercise the option. Therefore, whenever we enter into a land option or purchase contract with an entity and make a non-refundable deposit, a VIE may have been created. As of June 30, 2017 and December 31, 2016 , the Company was not required to consolidate any VIEs. In accordance with ASC 810, we perform ongoing reassessments of whether we are the primary beneficiary of a VIE. Noncontrolling Interest During 2013, the Company entered into a joint venture agreement with a third-party property owner. In accordance with ASC 810, the Company analyzed this arrangement and determined that it was not a VIE; however, the Company determined it was required to consolidate the joint venture as the Company has a controlling financial interest with the powers to direct the major decisions of the entity. As of June 30, 2017 and December 31, 2016 , the third-party investor had an equity balance of $0.1 million and $0.1 million , respectively. Investments in and Advances to Unconsolidated Joint Ventures We use the equity method to account for investments in homebuilding and land development joint ventures that qualify as VIEs where we are not the primary beneficiary and other entities that we do not control but have the ability to exercise significant influence over the operating and financial policies of the investee. The Company also uses the equity method when we function as the managing member or general partner and our venture partner has substantive participating rights or where we can be replaced by our venture partner as managing member without cause. As of June 30, 2017 , the Company concluded that none of its joint ventures were VIEs and accounted for these entities under the equity method of accounting. 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 parties. Our proportionate share of intra-entity profits and losses are eliminated until the related asset has been sold by the unconsolidated joint venture to third parties. We classify cash distributions received from equity method investees using the cumulative earnings approach consistent with ASU No. 2016-15, Statement of Cash Flows(Topic 230): Classification of Certain Cash Receipts and Cash Payments ("ASU 2016-15"). Under the cumulative earnings approach, distributions received are considered returns on investment and shall be classified as cash inflows from operating activities unless the cumulative distributions received exceed cumulative equity in earnings. When such an excess occurs, the current-period distribution up to this excess is considered a return of investment and shall be classified as cash inflows from investing activities. Our ownership interests in our unconsolidated joint ventures vary, but are generally less than or equal to 35% . The accounting policies of our joint ventures are consistent with those of the Company. We review real estate inventory held by our unconsolidated joint ventures for impairment, consistent with our real estate inventories. We also review our investments in and advances to unconsolidated joint ventures for evidence of other-than-temporary declines in value. To the extent we deem any portion of our investment in and advances to unconsolidated joint ventures as not recoverable, we impair our investment accordingly. For the three and six months ended June 30, 2017 and 2016 , no impairments related to investment in and advances to unconsolidated joint ventures were recorded. Selling and Marketing Expense Selling and marketing costs incurred to sell real estate projects are capitalized to other assets in the accompanying condensed consolidated balance sheets if they are reasonably expected to be recovered from the sale of the project or from incidental operations, and are incurred for tangible assets that are used directly through the selling period to aid in the sale of the project or services that have been performed to obtain regulatory approval of sales. These capitalizable selling and marketing costs include, but are not limited to, model home design, model home decor and landscaping, and sales office/design studio setup. All other selling and marketing costs, such as commissions and advertising, are expensed in the period incurred and included in selling and marketing expense in the accompanying condensed consolidated statements of operations. Warranty Accrual We offer warranties on our homes that generally cover various defects in workmanship or materials, or structural construction defects for one year. In addition, we generally provide a more limited warranty, which generally ranges from a minimum of two years up to the period covered by the applicable statute of repose, that covers certain defined construction defects. Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related homebuilding revenues are recognized. Amounts are accrued based upon the Company’s historical rates. In addition, the Company has received warranty payments from third-party property owners for certain of its fee building projects that have since closed-out where the Company has the contractual risk of construction. These payments are recorded as warranty accruals. We assess the adequacy of our warranty accrual on a quarterly basis and adjust the amounts recorded if necessary. Our warranty accrual is included in accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets and adjustments to our warranty accrual are recorded through cost of sales. Contracts and Accounts Receivable Contracts and accounts receivable primarily represent the fees earned, but not collected, and reimbursable project costs incurred in connection with fee building agreements. The Company periodically evaluates the collectability of its contracts receivable, and, if it is determined that a receivable might not be fully collectible, an allowance is recorded for the amount deemed uncollectible. This allowance for doubtful accounts is estimated based on management’s evaluation of the contracts involved and the financial condition of its customers. Factors considered in such evaluations include, but are not limited to: (i) customer type; (ii) historical contract performance; (iii) historical collection and delinquency trends; (iv) customer credit worthiness; and (v) general economic conditions. In addition to contracts receivable, escrow receivables are included in contracts and accounts receivable in the accompanying condensed consolidated balance sheets. As of June 30, 2017 and December 31, 2016 , no allowance was recorded related to contracts and accounts receivable. Property and Equipment Property and equipment are recorded at cost and included in other assets in the accompanying condensed consolidated balance sheets and depreciated using the straight-line method over their estimated useful lives ranging from three to five years. Leasehold improvements are stated at cost and are amortized using the straight-line method over the shorter of either their estimated useful lives or the term of the lease. Income Taxes Income taxes are accounted for in accordance with ASC 740, Income Taxes (“ASC 740”). The consolidated provision for, or benefit from, income taxes is calculated using the asset and liability method, under which deferred tax assets and liabilities are recorded based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are evaluated on a quarterly basis to determine if adjustments to the valuation allowance are required. In accordance with ASC 740, we assess whether a valuation allowance should be established based on the consideration of all available evidence using a “more likely than not” standard with respect to whether deferred tax assets will be realized. The ultimate realization of deferred tax assets depends primarily on the generation of future taxable income during the periods in which the differences become deductible. The value of our deferred tax assets will depend on applicable income tax rates. Judgment is required in determining the future tax consequences of events that have been recognized in our consolidated financial statements and/or tax returns. Differences between anticipated and actual outcomes of these future tax consequences could have a material impact on our consolidated financial statements. ASC 740 defines the methodology for recognizing the benefits of uncertain tax return positions as well as guidance regarding the measurement of the resulting tax benefits. These provisions require an enterprise to recognize the financial statement effects of a tax position when it is more likely than not (defined as a likelihood of more than 50%), based on the technical merits, that the position will be sustained upon examination. In addition, these provisions provide guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The evaluation of whether a tax position meets the more-likely-than-not recognition threshold requires a substantial degree of judgment by management based on the individual facts and circumstances. Stock-Based Compensation We account for share-based awards in accordance with ASC 718, Compensation – Stock Compensation (“ASC 718”) and ASC 505-50, Equity – Equity Based Payments to Non-Employees (“ASC 505-50”). ASC 718 requires that the cost resulting from all share-based payment transactions be recognized in a company's financial statements. ASC 718 requires all entities to apply a fair-value-based measurement method in accounting for share-based payment transactions with employees except for equity instruments held by employee share ownership plans. On June 26, 2015, the Company entered into an agreement that transitioned Joseph Davis' role within the Company from Chief Investment Officer to a non-employee consultant to the Company. On February 16, 2017, the Company entered into an agreement that transitioned Wayne Stelmar's role within the Company from Chief Investment Officer to a non-employee consultant and non-employee director. Per the agreements, Mr. Davis' and Mr. Stelmar's outstanding equity awards will continue to vest in accordance with their original terms. Under ASC 505-50, if an employee becomes a non-employee and continues to vest in an award pursuant to the award's original terms, that award will be treated as an award to a non-employee prospectively, provided the individual is required to continue providing services to the employer (such as consulting services). Based on the terms and conditions of both Mr. Davis' and Mr. Stelmar's consulting agreements noted above, we account for their share-based awards in accordance with ASC 505-50. ASC 505-50 requires that these awards be accounted for prospectively, such that the fair value of the awards will be re-measured at each reporting date until the earlier of (a) the performance commitment date or (b) the date the services required under the transition agreement with Mr. Davis or Mr. Stelmar have been completed. ASC 505-50 requires that compensation cost ultimately recognized in the Company's financial statements be the sum of (a) the compensation cost recognized during the period of time the individual was an employee (based on the grant-date fair value) plus (b) the fair value of the award determined on the measurement date determined in accordance with ASC 505-50 for the pro-rata portion of the vesting period in which the individual was a non-employee. Mr. Davis' outstanding awards fully vested during January 2017 and were fully expensed. Beginning January 1, 2017, the Company adopted ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The adoption of ASU 2016-09 had no effect on beginning retained earnings or any other components of equity or net assets. The Company has elected to apply the amendments in ASC 2016-09 related to the presentation of excess income tax provisions on the statement of cash flows using a prospective transition method resulting in no adjustment to the classification of the prior year excess income tax provision from stock-based compensation in the accompanying condensed consolidated statement of cash flows. Recently Issued Accounting Standards The Company qualifies as an “emerging growth company” pursuant to the provisions of the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Section 102 of the JOBS Act provides that an “emerging growth company” can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933, as amended, for complying with new or revised accounting standards. As previously disclosed, the Company has chosen, irrevocably, to “opt out” of such extended transition period, and as a result, will comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes existing accounting literature relating to how and when a company recognizes revenue. Under ASU 2014-09, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. Additionally, ASU 2014-09 supersedes existing industry specific accounting literature relating to how a company expenses certain selling and marketing costs. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which delayed the effective date of ASU 2014-09 by one year. As a public company, ASU 2014-09 is effective for our interim and annual reporting periods beginning after December 15, 2017, and at that time, we expect to adopt the new standard under the modified retrospective approach. Under the modified retrospective approach, we will recognize the cumulative effect of initially applying the new standard as an adjustment to the opening balance of retained earnings. In anticipation of this adoption, we have developed an implementation plan and are working to identify significant changes to our financial statements and accounting policies. At this time, we do not believe the adopti

Computation of Earnings (Loss)

Computation of Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Computation of Earnings (Loss) Per Share	Computation of Earnings (Loss) Per Share The following table sets forth the components used in the computation of basic and diluted earnings (loss) per share for the three and six months ended June 30, 2017 and 2016 : Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands, except share and per share amounts) Numerator: Net income attributable to The New Home Company Inc. $ 1,517 $ 2,509 $ 2,363 $ 1,695 Denominator: Basic weighted-average shares outstanding 20,869,429 20,709,139 20,819,288 20,654,998 Effect of dilutive shares: Stock options and unvested restricted stock units 87,294 51,047 101,862 90,804 Diluted weighted-average shares outstanding 20,956,723 20,760,186 20,921,150 20,745,802 Basic earnings per share attributable to The New Home Company Inc. $ 0.07 $ 0.12 $ 0.11 $ 0.08 Diluted earnings per share attributable to The New Home Company Inc. $ 0.07 $ 0.12 $ 0.11 $ 0.08 Antidilutive stock options and unvested restricted stock units not included in diluted earnings (loss) per share 22,077 888,953 846,725 867,272

Contracts and Accounts Receivab

Contracts and Accounts Receivable	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
Contracts and Accounts Receivable	Contracts and Accounts Receivable Contracts and accounts receivable consist of the following: June 30, December 31, 2017 2016 (Dollars in thousands) Contracts receivable: Costs incurred on fee building projects $ 99,825 $ 178,103 Estimated earnings 2,973 8,404 102,798 186,507 Less: amounts collected during the period (89,321 ) (162,203 ) Contracts receivable $ 13,477 $ 24,304 Contracts receivable: Billed $ — $ — Unbilled 13,477 24,304 13,477 24,304 Accounts receivable: Escrow receivables 4,721 3,385 Other receivables 123 144 Contracts and accounts receivable $ 18,321 $ 27,833 Billed contracts receivable represent amounts billed to customers that have yet to be collected. Unbilled contracts receivable represents the contract revenue recognized but not yet billable pursuant to contract terms or administratively not invoiced. All unbilled receivables as of June 30, 2017 and December 31, 2016 are expected to be billed and collected within 30 days. Accounts payable at June 30, 2017 and December 31, 2016 includes $12.1 million and $22.8 million , respectively, related to costs incurred under the Company’s fee building contracts.

Real Estate Inventories and Cap

Real Estate Inventories and Capitalized Interest	6 Months Ended
	Jun. 30, 2017
Real Estate [Abstract]
Real Estate Inventories and Capitalized Interest	Real Estate Inventories and Capitalized Interest Real estate inventories are summarized as follows: June 30, December 31, 2017 2016 (Dollars in thousands) Deposits and pre-acquisition costs $ 45,480 $ 38,723 Land held and land under development 107,998 98,596 Homes completed or under construction 179,885 93,628 Model homes 32,037 55,981 $ 365,400 $ 286,928 All of our deposits and pre-acquisition costs are non-refundable, except for refundable deposits of $0.2 million and $4.1 million as of June 30, 2017 and December 31, 2016 , respectively. 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 (except for capitalized selling and marketing costs, which are classified in other assets) include all costs associated with home construction, including land, development, indirects, permits, materials and labor. In accordance with Accounting Standards Codification ("ASC") 360, Property, Plant and Equipment (“ASC 360”), inventory is stated at cost, unless the carrying amount is determined not to be recoverable, in which case inventory is written down to its fair value. We review each real estate asset at the community-level, on a quarterly basis or whenever indicators of impairment exist. For the three and six months ended June 30, 2017 , the Company recognized real estate-related impairments of $1.3 million in cost of sales resulting in a decrease of the same amount to income before income taxes for our homebuilding segment. Fair value for the homebuilding project impaired during the quarter was calculated under a discounted cash flow model. The following table summarizes inventory impairments recorded during the three and six months ended June 30, 2017 and 2016 : Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in Thousands) Inventory impairments: Home sales $ 1,300 $ — $ 1,300 $ — Total inventory impairments $ 1,300 $ — $ 1,300 $ — Remaining carrying value of inventory impaired at period end $ 12,550 $ — $ 12,550 $ — Number of projects impaired during the period 1 — 1 — Total number of projects subject to periodic impairment review during the year (1) 25 23 26 23 (1) Represents the peak number of real estate projects that we had during each respective period. The number of projects outstanding at the end of each period may be less than the number of projects listed herein. The home sales impairments of $1.3 million related to homes completed or under construction for one active homebuilding community located in Southern California. This community was experiencing a slow monthly sales absorption rate, and the Company determined that additional incentives were required to sell the remaining homes and lots at estimated aggregate sales prices that would be lower than its previous carrying value. Interest is capitalized to inventory during development and other qualifying activities. Interest capitalized as a cost of inventory is included in cost of sales as related homes are closed. Interest capitalized to investment in unconsolidated joint ventures is amortized to equity in net income of unconsolidated joint ventures as related joint venture homes or lots close. For the three and six months ended June 30, 2017 and 2016 interest incurred, capitalized and expensed was as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Interest incurred $ 6,401 $ 1,689 $ 8,437 $ 2,970 Interest capitalized to inventory (5,878 ) (1,689 ) (7,750 ) (2,970 ) Interest capitalized to investments in unconsolidated joint ventures (523 ) — (687 ) — Interest expensed $ — $ — $ — $ — Capitalized interest in beginning inventory $ 6,663 $ 4,823 $ 6,342 $ 4,190 Interest capitalized as a cost of inventory 5,878 1,689 7,750 2,970 Previously capitalized interest included in cost of sales (1,720 ) (1,063 ) (3,271 ) (1,711 ) Capitalized interest in ending inventory $ 10,821 $ 5,449 10,821 5,449 Capitalized interest in beginning investment in unconsolidated joint ventures 164 — — — Interest capitalized to investments in unconsolidated joint ventures 523 — 687 — Previously capitalized interest included in equity in net income of unconsolidated joint ventures — — — — Capitalized interest in ending investments in unconsolidated joint ventures 687 — 687 — Total capitalized interest in ending inventory and investments in unconsolidated joint ventures $ 11,508 $ 5,449 $ 11,508 $ 5,449 Capitalized interest as a percentage of inventory 3.0 % 1.4 % 3.0 % 1.4 % Interest included in cost of sales as a percentage of home sales revenue 1.8 % 1.3 % 2.0 % 1.4 % Capitalized interest as a percentage of investments in and advances to unconsolidated joint ventures 1.2 % — % 1.2 % — %

Investments in and advances to

Investments in and advances to unconsolidated joint ventures	6 Months Ended
	Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Investments in and Advances to Unconsolidated Joint Ventures	Unconsolidated Joint Ventures As of June 30, 2017 and December 31, 2016 , the Company had ownership interests in 12 and 13 , respectively, unconsolidated joint ventures with ownership percentages that generally range from 5% to 35% . The condensed combined balance sheets for our unconsolidated joint ventures accounted for under the equity method are as follows: June 30, December 31, 2017 2016 (Dollars in thousands) Cash and cash equivalents $ 31,304 $ 33,683 Restricted cash 16,176 8,374 Real estate inventories 407,239 386,487 Other assets 1,922 1,664 Total assets $ 456,641 $ 430,208 Accounts payable and accrued liabilities $ 28,109 $ 28,706 Notes payable 106,111 97,664 Total liabilities 134,220 126,370 The New Home Company's equity 49,226 46,857 Other partners' equity 273,195 256,981 Total equity 322,421 303,838 Total liabilities and equity $ 456,641 $ 430,208 Debt-to-capitalization ratio 24.8 % 24.3 % Debt-to-equity ratio 32.9 % 32.1 % As of June 30, 2017 and December 31, 2016 , the Company had advances outstanding of approximately $6.0 million and $4.0 million , respectively, to these unconsolidated joint ventures, which were included in the notes payable balances of the unconsolidated joint ventures in the table above. The advances relate to an unsecured promissory note entered into on October 31, 2016 and amended on February 3, 2017 with Encore McKinley Village LLC ("Encore McKinley"), an unconsolidated joint venture of the Company. The note bears interest at 10% per annum and matures on October 31, 2017, with the right to extend to October 31, 2018. The condensed combined statements of operations for our unconsolidated joint ventures accounted for under the equity method are as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Revenues $ 35,171 $ 70,104 $ 61,791 $ 112,061 Cost of sales and expenses 35,825 59,909 63,309 99,725 Net (loss) income of unconsolidated joint ventures $ (654 ) $ 10,195 $ (1,518 ) $ 12,336 Equity in net income of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations $ 201 $ 3,947 $ 507 $ 3,940 For the three and six months ended June 30, 2017 and 2016 , the Company earned $1.2 million , $2.4 million , $2.5 million , and $4.7 million , respectively, in management fees from its unconsolidated joint ventures. For additional detail regarding management fees, please see Note 11 to the unaudited condensed consolidated financial statements. During the 2017 second quarter, our Larkspur Land 8 Investors LLC unconsolidated joint venture (Larkspur) allocated $0.1 million of income to the Company from a reduction in cost to complete reserves, which was included in equity in net income of unconsolidated joint ventures in the accompanying condensed consolidated statements of operations, and our outside equity partner exited the joint venture. Upon the change in control, we were required to consolidate this venture as a wholly owned subsidiary and the Company assumed the cash, other assets, and accrued liabilities, including warranty and the remaining costs to complete reserves, of the joint venture. As part of this transaction, and in accordance with ASC 805, Business Combinations, the Company also recognized a gain of $ 0.3 million , which was included in equity in net income of unconsolidated joint ventures in the accompanying condensed consolidated statements of operations, due to the purchase of our JV partner's interest for less than its carrying value. During June 2016, our LR8 Investors LLC unconsolidated joint venture (LR8) made its final distributions, allocated $0.5 million of income to the Company from a reduction in warranty reserves, which was included in equity in net income of unconsolidated joint ventures in the accompanying condensed consolidated statements of operations, and our outside equity partner exited the joint venture. Upon the change in control, we were required to consolidate this venture as a wholly owned subsidiary and the Company assumed the cash, accounts receivable, accounts payable, and accrued liabilities, including the remaining warranty reserve, of the joint venture. As part of this transaction, and in accordance with ASC 805, Business Combinations, the Company also recognized a gain of $1.1 million , which was included in equity in net income of unconsolidated joint ventures in the accompanying condensed consolidated statements of operations, due to the purchase of our JV partner's interest for less than its carrying value.

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2017
Other Assets [Abstract]
Other Assets	Other Assets Other assets consist of the following: June 30, December 31, 2017 2016 (Dollars in thousands) Capitalized selling and marketing costs (1) $ 11,878 $ 10,101 Deferred tax asset, net 8,488 8,434 Property and equipment, net of accumulated depreciation 716 857 Prepaid expenses 2,834 1,907 $ 23,916 $ 21,299 (1) The Company amortized $2.1 million , $3.2 million , $1.6 million , and $2.4 million of capitalized selling and marketing project costs to selling and marketing expenses during the three and six months ended June 30, 2017 and 2016 , respectively.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2017
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following: June 30, December 31, 2017 2016 (Dollars in thousands) Warranty accrual $ 5,399 $ 4,931 Accrued compensation and benefits 3,181 6,786 Accrued interest 6,872 648 Completion reserve 1,471 1,355 Income taxes payable — 7,147 Deferred profit from unconsolidated joint ventures 460 957 Other accrued expenses 2,090 1,594 $ 19,473 $ 23,418 Changes in our warranty accrual are detailed in the table set forth below: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Beginning warranty accrual for homebuilding projects $ 4,678 $ 4,057 $ 4,608 $ 3,846 Warranty provision for homebuilding projects 331 493 602 805 Warranty assumed from joint venture at consolidation 358 469 358 469 Warranty payments for homebuilding projects (291 ) (145 ) (492 ) (246 ) Ending warranty accrual for homebuilding projects 5,076 4,874 5,076 4,874 Beginning warranty accrual for fee building projects 323 332 323 335 Warranty provision for fee building projects — — — — Warranty efforts for fee building projects — (1 ) — (4 ) Ending warranty accrual for fee building projects 323 331 323 331 Total ending warranty accrual $ 5,399 $ 5,205 $ 5,399 $ 5,205

Senior Notes and Unsecured Revo

Senior Notes and Unsecured Revolving Credit Facility	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Senior Notes Payable and Unsecured Revolving Credit Facility	Senior Notes and Unsecured Revolving Credit Facility Notes payable consisted of the following: June 30, December 31, 2017 2016 (Dollars in thousands) 7.25% Senior Notes due 2022, net $ 318,121 $ — Senior unsecured revolving credit facility — 118,000 Total Notes Payable $ 318,121 $ 118,000 The carrying amount of our senior notes listed above is net of the unamortized discount of $2.5 million , unamortized premium of $2.0 million , and $6.4 million of debt issuance costs that are amortized to interest costs over the respective terms of the notes. On March 17, 2017, the Company completed the sale of $250 million in aggregate principal amount of 7.25% Senior Notes due 2022 (the "Existing Notes"), in a private placement. The Existing Notes were issued at an offering price of 98.961% of their face amount, which represents a yield to maturity of 7.50% . On May 4, 2017, the Company completed a tack-on private placement offering through the sale of an additional $75 million in aggregate principal amount of the 7.25% Senior Notes due 2022 ("Additional Notes"). The Additional Notes were issued at an offering price of 102.75% of their face amount plus accrued interest since March 17, 2017, which represented a yield to maturity of 6.438% . Net proceeds from the Existing Notes were used to repay all borrowings outstanding under the Company’s senior unsecured revolving credit facility with the remainder to be used for general corporate purposes. Net proceeds from the Additional Notes will be used for working capital, land acquisition and general corporate purposes. Interest on the Existing Notes and the Additional Notes (collectively, the “Notes”) will be paid semiannually in arrears on April 1 and October 1, commencing October 1, 2017. The Notes will mature on April 1, 2022. The Notes are general senior unsecured obligations that rank equally in right of payment to all existing and future senior indebtedness, including borrowings under the Company's senior unsecured revolving credit facility. The Notes contain certain restrictive covenants, including a limitation on additional indebtedness and a limitation on restricted payments. Restricted payments include, among other things, dividends, investments in unconsolidated entities, and stock repurchases. Under the limitation on additional indebtedness, we are permitted to incur specified categories of indebtedness but are prohibited, aside from those exceptions, from incurring further indebtedness if we do not satisfy either a leverage condition or an interest coverage condition. Exceptions to the limitation include, among other things, borrowings of up to $260 million under existing or future bank credit facilities, non-recourse indebtedness, and indebtedness incurred for the purpose of refinancing or repaying certain existing indebtedness. Under the limitation on restricted payments, we are also prohibited from making restricted payments, aside from certain exceptions, if we do not satisfy either condition. In addition, the amount of restricted payments that we can make is subject to an overall basket limitation, which builds based on, among other things, 50% of consolidated net income from January 1, 2017 and 100% of the net cash proceeds from qualified equity offerings. Exceptions to the foregoing limitations on our ability to make restricted payments include, among other things, investments in joint ventures and other investments up to 15% of our consolidated tangible net assets and a general basket of $15,000,000 . The Notes are guaranteed, on an unsecured basis, jointly and severally, by all of the Company's 100% owned subsidiaries. See Note 16 for information about the guarantees and supplemental financial statement information about our guarantor subsidiaries group and non-guarantor subsidiaries group. The Company executed registration rights agreements pursuant to which it agreed to register the Notes. If we fail to register the Notes by mid-November 2017, as set forth in the registration rights agreements, we have agreed to pay additional interest to the holders of the effected Notes at a rate of 0.25% per annum for the first 90-day period immediately following the occurrence of such default, which such rate increasing by an additional 0.25% per annum with respect to each subsequent 90-day period until all such defaults have been cured, up to a maximum additional interest rate of 1.0% per annum. The Company's unsecured revolving credit facility ("Credit Facility") is with a bank group with a total commitment of $260 million and an accordion feature that allows borrowings thereunder to be increased up to an aggregate of $350 million , subject to certain conditions, including the availability of bank commitments, and a maturity date of April 30, 2019. As of June 30, 2017 , we had no outstanding borrowings under the credit facility. We may repay advances at any time without premium or penalty. Interest is payable monthly and is charged at a rate of 1-month LIBOR plus a margin ranging from 2.25% to 3.00% depending on the Company’s leverage ratio as calculated at the end of each fiscal quarter. As of June 30, 2017 , the interest rate under the Credit Facility was 3.72% . Pursuant to the Credit Facility, the Company is required to maintain certain financial covenants as defined in the Credit Facility, including (i) a minimum tangible net worth; (ii) maximum leverage ratios; (iii) a minimum liquidity covenant; and (iv) a minimum fixed charge coverage ratio based on EBITDA (as detailed in the Credit Facility) to interest incurred. As of June 30, 2017 , the Company was in compliance with all financial covenants.

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures ASC 820, Fair Value Measurements and Disclosures , defines fair value as the price that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at a measurement date and requires assets and liabilities carried at fair value to be classified and disclosed in the following three categories: • Level 1 – Quoted prices for identical instruments in active markets • Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are inactive; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets at measurement date • Level 3 – Valuations derived from techniques where one or more significant inputs or significant value drivers are unobservable in active markets at measurement date Fair Value of Financial Instruments The following table presents an estimated fair value of the Company's senior notes measured on a recurring basis. The estimated value is based on Level 2 inputs, which primarily reflect estimated prices for our Notes obtained from outside pricing sources. June 30, 2017 December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value (dollars in thousands) 7.25% Senior Notes due 2022, net (1) $ 318,121 $ 334,750 $ — $ — (1) The carrying value for the Senior Notes, as presented, is net of the unamortized discount of $2.5 million , unamortized premium of $2.0 million , and $6.4 million of debt issuance costs. The unamortized discount, unamortized premium and debt issuance costs are not factored into the estimated fair value. The Company determined that the fair value estimate of its unsecured revolving credit facility is classified as Level 3 within the fair value hierarchy. The Company had no outstanding balance on the revolving credit facility at June 30, 2017 , and the estimated fair value of the outstanding revolving credit facility balance at December 31, 2016 approximated the carrying value due to the short-term nature of LIBOR contracts. 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 determinable due to the related party nature of such amounts. Non-Recurring Fair Value Adjustments Nonfinancial assets and liabilities include items such as inventory and long-lived assets that are measured at cost when acquired and adjusted for impairment to fair value, if deemed necessary. For the three and six months ended June 30, 2017, the Company recognized a real estate-related impairment adjustment of $1.3 million . related to one homebuilding community. The impairment adjustment was made using Level 3 inputs and assumptions. The fair value of the real estate inventories subject to the impairment adjustments was $12.6 million at June 30, 2017.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies 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. In view of the inherent unpredictability of litigation, we generally cannot predict their ultimate resolution, related timing or eventual loss. At this time, we do not believe that our loss contingencies, individually or in the aggregate, are material to our consolidated financial statements. 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 aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations. However, changes in applicable environmental laws and regulations, the uses and conditions of real estate in the vicinity of the Company’s real estate and other environmental conditions of which the Company is unaware with respect to the real estate could result in future environmental liabilities. 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. The Company has also entered into agreements with its partners in each of the unconsolidated joint ventures whereby the Company and its partners are apportioned liability under the LTV maintenance agreements according to their respective capital interest. In addition, the agreements provide the Company, to the extent its partner has an unpaid liability under such credit enhancements, the right to receive distributions from the unconsolidated joint venture that would otherwise be made to the partner. However, there is no guarantee that such distributions will be made or will be sufficient to cover the share of the liability apportioned to us. The loans underlying the LTV maintenance agreements comprise acquisition and development loans, construction revolvers and model home loans, and the agreements remain in force until the loans are satisfied. Due to the nature of the loans, the outstanding balance at any given time is subject to a number of factors including the status of site improvements, the mix of horizontal and vertical development underway, the timing of phase build outs, and the period necessary to complete the escrow process for homebuyers. As of June 30, 2017 and December 31, 2016 , $61.0 million and $56.0 million , respectively, was outstanding under loans that are credit enhanced by the Company through LTV maintenance agreements. Under the terms of the joint venture agreements, the Company's proportionate share of LTV maintenance agreement liabilities was $9.6 million and $8.6 million , respectively, as of June 30, 2017 and December 31, 2016 . In addition, the Company has provided completion agreements regarding specific performance for certain projects whereby the Company is required to complete the given project with funds provided by the beneficiary of the agreement. If there are not adequate funds available under the specific project loans, the Company would then be subject to financial liability under such completion agreements. Typically, under such terms of the joint venture agreements, the Company has the right to apportion the respective share of any costs funded under such completion agreements to its partners. However, there is no guarantee that we will be able to recover against our partners for such amounts owed to us under the terms of such joint venture agreements. In connection with joint venture borrowings, the Company also selectively provides (a) an environmental indemnity provided to the lender that holds the lender harmless from and against losses arising from the discharge of hazardous materials from the property and non-compliance with applicable environmental laws; and (b) indemnification of the lender from “bad boy acts” of the unconsolidated entity. We obtain surety bonds in the normal course of business to ensure completion of certain infrastructure improvements of our projects. As of June 30, 2017 and December 31, 2016 , the Company had outstanding surety bonds totaling $47.5 million and $44.0 million , respectively. The estimated remaining costs to complete of such improvements as of June 30, 2017 and December 31, 2016 were $15.0 million and $15.7 million , respectively. The beneficiaries of the bonds are various municipalities and other organizations. In the event that any such surety bond issued by a third party is called because the required improvements are not completed, the Company could be obligated to reimburse the issuer of the bond. On May 6, 2015, the Company entered into a letter of credit facility agreement that allows the Company and certain affiliated unconsolidated joint ventures to issue up to $5.0 million in letters of credit. The agreement includes an option to increase this amount to $7.5 million , subject to certain conditions. As of June 30, 2017 , our affiliated unconsolidated joint ventures had $1.8 million in outstanding letters of credit issued under this facility and the Company had no obligations associated with such outstanding JV letters of credit.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions During the three and six months ended June 30, 2017 and 2016 , the Company incurred construction-related costs on behalf of its unconsolidated joint ventures totaling $1.7 million , $4.0 million , $1.7 million and $4.4 million , respectively. As of June 30, 2017 and December 31, 2016 , $0.1 million and $0.2 million , respectively, are included in due from affiliates in the accompanying condensed consolidated balance sheets related to such costs. The Company has entered into agreements with its unconsolidated joint ventures to provide management services related to the underlying projects (collectively referred to as the “Management Agreements”). Pursuant to the Management Agreements, the Company receives a management fee based on each project’s revenues. During the three and six months ended June 30, 2017 and 2016 , the Company earned $1.2 million , $2.4 million , $2.5 million and $4.7 million , respectively, in management fees, which have been recorded as fee building revenue in the accompanying condensed consolidated statements of operations. As of June 30, 2017 and December 31, 2016 , $0.1 million and $0.6 million , respectively, of management fees are included in due from affiliates in the accompanying condensed consolidated balance sheets. One member of the Company's board of directors beneficially owns more than 10% of the Company's outstanding common stock through an affiliated entity and is also affiliated with an entity that has investments in two of the Company's unconsolidated joint ventures. A separate member of the Company's board of directors is also affiliated with an entity that has investments in three of the Company's unconsolidated joint ventures. As of June 30, 2017 , the Company's investment in these five unconsolidated joint ventures totaled $24.1 million . TL Fab LP, an affiliate of one of the Company's non-employee directors, was engaged by the Company and some of its unconsolidated joint ventures as a trade contractor to provide metal fabrication services. For the three and six months ended June 30, 2017 and 2016 , the Company incurred $0.1 million , $0.3 million , $0.1 million and $0.2 million , respectively, for these services. The Company's unconsolidated joint ventures incurred $0.3 million , $0.6 million , $0.2 million and $0.4 million , respectively, for these services. Of these costs, $10,000 and $33,000 was due to TL Fab LP from the Company at June 30, 2017 and December 31, 2016 , respectively, and $130,000 and $14,000 was due to TL Fab LP from the Company's unconsolidated joint ventures at June 30, 2017 and December 31, 2016 , respectively. 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 ("ASC 360-20"), the Company defers its portion of the underlying gain from the joint venture's sale of these lots. When the Company purchases lots directly from the joint venture, the deferred gain is recorded as a reduction to the Company's land basis on the purchased lots. In certain instances, a third party may purchase lots from our unconsolidated joint ventures with the intent to finish the lots. Then, the Company has an option to acquire these finished lots from the third party. In these instances, the Company defers its portion of the underlying gain and records the deferred gain as deferred profit from unconsolidated joint ventures included in accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets. Once the lot is purchased by the Company, the pro-rata share of the previously deferred profit is recorded as a reduction to the Company's land basis in the purchased lots. In both instances, the gain is ultimately recognized when the Company delivers lots to third-party home buyers at the time of the home closing. At June 30, 2017 and December 31, 2016 , $0.3 million and $0.6 million , respectively, of deferred gain from lot sale transactions is included in accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets as deferred profit from unconsolidated joint ventures. In addition, at June 30, 2017 and December 31, 2016 , $0.8 million and $0.7 million , respectively, of deferred gain from lot sale transactions remained unrecognized and included as a reduction to land basis in the accompanying condensed consolidated balance sheets. The Company’s land purchase agreement with one of its unconsolidated joint ventures, TNHC-HW Cannery LLC ("TNHC-HW Cannery"), requires profit participation payments due upon the closing of each home. Payment amounts are calculated based upon a percentage of estimated net profits and are due every 90 days after the first home closing. During the six months ended June 30, 2017 , the Company was refunded $0.2 million from TNHC-HW Cannery for profit participation overpayments from prior periods due to a modification of the underlying calculation related to profit participation, and as of June 30, 2017 , no profit participation was due to TNHC-HW Cannery. Also per the purchase agreement, the Company is due $0.1 million in fee credits from TNHC-HW Cannery LLC at June 30, 2017 which is included in due from affiliates in the accompanying condensed consolidated balance sheets. As of December 31, 2016 , $0.2 million of profit participation overpayments and $0.1 million in fee credits was due to the Company from TNHC-HW Cannery and included in due from affiliates in the accompanying consolidated balance sheets. On June 18, 2015, the Company entered into an agreement that effectively transitioned Joseph Davis' role within the Company from that of Chief Investment Officer to that of a non-employee consultant to the Company effective June 26, 2015 ("Transition Date"). As of the Transition Date, Mr. Davis ceased being an employee of the Company and became an independent contractor performing consulting services. Mr. Davis is expected to work approximately, but not more than, 20 consulting hours per month. For his services, he is compensated $5,000 per month. His current agreement terminates on July 26, 2018 with the option to extend the agreement one year, if mutually consented to by the parties. Either party may terminate the agreement at any time for any or no reason. At June 30, 2017 , no fees were due to Mr. Davis for his consulting services. On June 29, 2015, the Company formed a new unconsolidated joint venture and received capital credit in excess of our contributed land basis. As a result, the Company recognized $1.6 million in equity in net income of unconsolidated joint ventures and deferred $0.4 million in profit from unconsolidated joint ventures related to this transaction for the year ended December 31, 2015. During the three and six months ended June 30, 2017 , $34,000 and $0.1 million , respectively, o f the previously deferred revenue was recognized as equity in net income of unconsolidated joint ventures, and at June 30, 2017 , $0.2 million remained unrecognized and included in accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets. On January 15, 2016, the Company entered into an assignment and assumption of membership interest agreement (the “Buyout Agreement”) for its partner's interest in the TNHC San Juan LLC unconsolidated joint venture. Per the terms of the Buyout Agreement, the Company contributed $20.6 million to the joint venture, and the joint venture made a liquidating cash distribution to our partner for the same amount in exchange for its membership interest. Prior to the buyout, the Company accounted for its investment in TNHC San Juan LLC as an equity method investment. After the buyout, TNHC San Juan LLC is now a wholly owned subsidiary of the Company. During June 2016, our LR8 Investors LLC unconsolidated joint venture (LR8) made its final distributions, allocated $0.5 million of income to the Company from a reduction in warranty reserves, which was included in equity in net income of unconsolidated joint ventures in the accompanying condensed consolidated statements of operations, and our outside equity partner exited the joint venture. Upon the change in control, we were required to consolidate this venture as a wholly owned subsidiary and the Company assumed the cash, accounts receivable, accounts payable, and accrued liabilities, including the remaining warranty reserve, of the joint venture. As part of this transaction, and in accordance with ASC 805, Business Combinations, the Company also recognized a gain of $1.1 million , which was included in equity in net income of unconsolidated joint ventures in the accompanying condensed consolidated statements of operations, due to the purchase of our JV partner's interest for less than its carrying value. As of June 30, 2017 and December 31, 2016 , the Company had advances outstanding of approximately $6.0 million and $4.0 million , respectively, to an unconsolidated joint venture, Encore McKinley Village. The note bears interest at 10% per annum and matures on October 31, 2017, with the right to extend to October 31, 2018. For the three and six months ended June 30, 2017 , the Company earned $0.1 million and $0.3 million in interest income on the unsecured promissory note which is included in equity in net income of unconsolidated joint ventures in the accompanying condensed consolidated statements of operations. As of June 30, 2017 and December 31, 2016 , $0.3 million and $44,000 of interest income was due to the Company and included in due from affiliates in the accompanying condensed consolidated balance sheets. On February 17, 2017 (the "Transition Date"), the Company entered into a consulting agreement that transitioned Mr. Stelmar's role from that of Chief Investment Officer to a non-employee consultant to the Company. While an employee of the Company, Mr. Stelmar served as an employee director of the Company's Board of Directors. The agreement also provides that effective upon Mr. Stelmar's termination of employment, he shall become a non-employee director and shall receive the compensation and be subject to the requirements of a non-employee director pursuant to the Company's policies. For his consulting services, Mr. Stelmar will be compensated $16,800 per month for a term of one year from the Transition Date with the option to extend the agreement one year on each anniversary of the Transition Date if mutually consented to by the parties. Either party may terminate the agreement at any time for any or no reason. Additionally, Mr. Stelmar's outstanding restricted stock unit equity award will continue to vest in accordance with its original terms based on his continued provision of consulting services rather than continued employment. At June 30, 2017 , no fees were due to Mr. Stelmar for his consulting services. During the 2017 second quarter, our Larkspur Land 8 Investors LLC unconsolidated joint venture (Larkspur) allocated $0.1 million of income to the Company from a reduction in cost to complete reserves, which was included in equity in net income of unconsolidated joint ventures in the accompanying condensed consolidated statements of operations, and our outside equity partner exited the joint venture. Upon the change in control, we were required to consolidate this venture as a wholly owned subsidiary and the Company assumed the cash, other assets, and accrued liabilities, including warranty and the remaining costs to complete reserves, of the joint venture. As part of this transaction, and in accordance with ASC 805, Business Combinations, the Company also recognized a gain of $ 0.3 million , which was included in equity in net income of unconsolidated joint ventures in the accompanying condensed consolidated statements of operations, due to the purchase of our JV partner's interest for less than its carrying value. In April 2017, the Company entered into an agreement to purchase land from an affiliate of an entity that owns more than 10% of the Company's outstanding common stock and is affiliated with one member of the Company's board of directors. The agreement allows the Company the option to purchase approximately 92 lots in Northern California in a phased takedown for a total purchase price of $16.1 million . The Company has completed the due diligence phase of this transaction, posted a $0.5 million non-refundable deposit, and expects to close on the first phase of lots in the third quarter of 2017. During the 2017 second quarter, the Company, through a wholly owned subsidiary, entered into an amendment to one of its existing joint venture agreements of an unconsolidated joint venture, TNHC Arantine Hills Holdings LP. Our joint venture partner in this joint venture, Arantine Hills Equity LP, is affiliated with one of the members of our board of directors. The amendment to the joint venture agreement provides for a pro rata increase in the maximum capital commitments of both partners. The Company increased its funding obligation by $4 million over the existing contribution cap. At June 30, 2017, the Company’s investment in this joint venture totaled $6.2 million .

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Stock-Based Compensation The Company's 2014 Long-Term Incentive Plan (the “2014 Incentive Plan”), was adopted by our board of directors in January 2014. The 2014 Incentive Plan provides for the grant of equity-based awards, including options to purchase shares of common stock, stock appreciation rights, restricted and unrestricted stock awards, restricted stock units and performance awards. The 2014 Incentive Plan will automatically expire on the tenth anniversary of its effective date. The number of shares of our common stock that are authorized to be issued under the 2014 Incentive Plan is 1,644,875 shares. To the extent that shares of the Company's common stock subject to an outstanding option, stock appreciation right, stock award or performance award granted under the 2014 Incentive Plan or any predecessor plan are not issued or delivered by reason of the expiration, termination, cancellation or forfeiture of such award or the settlement of such award in cash, then such shares of common stock generally shall again be available under the 2014 Incentive Plan. At our 2016 Annual Meeting of Shareholders on May 24, 2016, our shareholders approved the Company's 2016 Incentive Award Plan (the "2016 Incentive Plan"). The 2016 Incentive Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units and other stock- or cash-based awards. Non-employee directors of the Company and employees and consultants of the Company or any of its subsidiaries are eligible to receive awards under the 2016 Incentive Plan. The 2016 Incentive Plan authorizes the issuance of 800,000 shares of common stock, subject to certain limitations. The 2016 Incentive Plan will expire on February 23, 2026. The Company has issued stock option and restricted stock unit awards under the 2014 Incentive Plan and restricted stock unit awards under the 2016 Incentive Plan. As of June 30, 2017 , 32,830 shares remain available for grant under the 2014 Incentive Plan and 464,928 shares remain available for grant under the 2016 Incentive Plan. The exercise price of stock-based awards may not be less than the market value of the Company's common stock on the date of grant. The fair value for stock options is established at the date of grant using the Black-Scholes model for time-based vesting awards. The Company's stock option and restricted stock unit awards typically vest over a one to three year period and the stock options expire ten years from the date of grant. A summary of the Company’s common stock option activity as of and for the six months ended June 30, 2017 and 2016 is presented below: Six Months Ended June 30, 2017 2016 Number of Shares Weighted-Average Exercise Price per Share Number of Shares Weighted-Average Exercise Price per Share Stock Option Activity Outstanding, beginning of period 835,786 $ 11.00 840,298 $ 11.00 Granted — $ — — $ — Exercised (9,288 ) $ 11.00 — $ — Forfeited — $ — (4,512 ) $ 11.00 Outstanding, end of period 826,498 $ 11.00 835,786 $ 11.00 Exercisable, end of period 826,498 $ 11.00 44,442 $ 11.00 A summary of the Company’s restricted stock unit activity as of and for the six months ended June 30, 2017 and 2016 is presented below: Six Months Ended June 30, 2017 2016 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 474,989 $ 10.66 308,386 $ 14.20 Granted 343,933 $ 10.84 409,509 $ 10.05 Vested (209,619 ) $ 10.76 (231,289 ) $ 14.22 Forfeited (26,194 ) $ 10.82 (3,980 ) $ 13.68 Outstanding, end of period 583,109 $ 10.72 482,626 $ 10.67 The expense related to the Company's stock-based compensation programs, included in general and administrative expense in the accompanying condensed consolidated statements of operations, was as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Expense related to: Stock options $ — $ 185 $ 11 $ 447 Restricted stock units 695 572 1,295 1,295 $ 695 $ 757 $ 1,306 $ 1,742 We used the "simplified method" to establish the expected term of the common stock options granted by the Company. Our restricted stock unit awards are valued based on the closing price of our common stock on the date of grant. At June 30, 2017 , the amount of unearned stock-based compensation currently estimated to be expensed through 2020 is $5.4 million . The weighted-average period over which the unearned stock-based compensation is expected to be recognized is 2.0 years. If there are any modifications or cancellations of the underlying unvested awards, the Company may be required to accelerate, increase or cancel any remaining unearned stock-based compensation expense.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with ASC 740, which requires an asset and liability approach for measuring deferred taxes based on temporary differences between the financial statements and tax bases of assets and liabilities existing at each balance sheet date using enacted tax rates for the years in which taxes are expected to be paid or recovered. For the three months ended June 30, 2017 and 2016 , the Company recorded a provision for income taxes of $1.0 million and $1.5 million , respectively. For the six months ended June 30, 2017 and 2016 , the Company recorded a provision for income taxes of $1.5 million and $1.3 million , respectively. Included in the three and six month periods for 2016 is an allocation of income from LR8 of $0.5 million due to a reduction in the warranty reserve and a $1.1 million gain from the closeout of LR8 due to the purchase of our JV partner's interest for less than its carrying value, which resulted in a provision for income taxes of $0.6 million for the three and six month periods ended June 30, 2016 and did not impact our effective tax rate. The effective tax rate for the three and six months ended June 30, 2017 and 2016 differs from the 35% federal statutory tax rate due to state income taxes partially offset by the tax benefit of production activities. Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than not unrealizable under ASC 740. We are required to establish a valuation allowance for any portion of the asset we conclude is more likely than not unrealizable. Our assessment considers, among other things, the nature, frequency and severity of prior cumulative losses, forecasts of future taxable income, the duration of statutory carryforward periods, our utilization experience with operating loss and tax credit carryforwards and the planning alternatives, to the extent these items are applicable. The Company classifies any interest and penalties related to income taxes assessed as part of income tax expense. The Company has concluded that there were no significant uncertain tax positions requiring recognition in its financial statements, nor has the Company been assessed interest or penalties by any major tax jurisdictions related to any open tax periods.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s operations are organized into two reportable segments: homebuilding and fee building. In determining the most appropriate reportable segments, we considered similar economic and other characteristics, including product types, average selling prices, gross margins, production processes, suppliers, subcontractors, regulatory environments, land acquisition results, and underlying demand and supply in accordance with ASC Topic 280, Segment Reporting . Our homebuilding operations acquire and develop land and construct and sell single-family attached and detached homes. Our fee building operations build homes and manage construction related activities on behalf of third-party property owners and our joint ventures. In addition, our Corporate operations develop and implement strategic initiatives and support our operating segments by centralizing key administrative functions such as accounting, finance and treasury, information technology, insurance and risk management, litigation, marketing and human resources. A portion of the expenses incurred by Corporate are allocated to the fee building segment primarily based on its respective percentage of revenues. The assets of our fee building segment primarily consist of cash, restricted cash and accounts receivable. The majority of our Corporate personnel and resources are primarily dedicated to activities relating to our homebuilding segment, and, therefore, the balance of any unallocated Corporate expenses and assets are included in our homebuilding segment. The reportable segments follow the same accounting policies as our consolidated financial statements described in Note 1. Operational results of each reportable segment are not necessarily indicative of the results that would have been achieved had the reportable segment been an independent, stand-alone entity during the periods presented. Financial information relating to reportable segments was as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Revenues: Homebuilding $ 96,929 $ 78,836 $ 166,335 $ 121,139 Fee building, including management fees 47,181 30,028 102,798 72,965 Total $ 144,110 $ 108,864 $ 269,133 $ 194,104 Income (loss) before income taxes: Homebuilding $ 1,223 $ 2,228 $ 892 $ (906 ) Fee building, including management fees 1,282 1,711 2,973 3,734 Total $ 2,505 $ 3,939 $ 3,865 $ 2,828 June 30, December 31, 2017 2016 (Dollars in thousands) Assets: Homebuilding $ 605,358 $ 393,095 Fee building 14,252 26,041 Total $ 619,610 $ 419,136

Supplemental Disclosure of Cash

Supplemental Disclosure of Cash Flow Information (Notes)	6 Months Ended
	Jun. 30, 2017
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosure of Cash Flow Information	Supplemental Disclosure of Cash Flow Information The following table presents certain supplemental cash flow information: Six Months Ended June 30, 2017 2016 (Dollars in thousands) Supplemental disclosures of cash flow information Interest paid, net of amounts capitalized $ — $ — Income taxes paid $ 8,750 $ 8,150 Supplemental disclosures of non-cash transactions Assets assumed from unconsolidated joint ventures $ 100 $ 46,811 Liabilities and equity assumed from unconsolidated joint ventures $ 1,095 $ 47,197 Contribution of real estate to unconsolidated joint ventures $ 1,013 $ —

Supplemental Guarantor Informat

Supplemental Guarantor Information (Notes)	6 Months Ended
	Jun. 30, 2017
Supplemental Guarantor Information [Abstract]
Supplemental Guarantor Info [Text Block]	Supplemental Guarantor Information The Company's 7.25% Senior Notes due 2022 (the "Notes") are guaranteed, on an unsecured basis, jointly and severally, by all of the Company's 100% owned subsidiaries (collectively, the "Guarantors"). The guarantees are full and unconditional. The Indenture governing the Notes provides that the guarantees of a Guarantor will be automatically and unconditionally released and discharged: (1) upon any sale, transfer, exchange or other disposition (by merger, consolidation or otherwise) of all of the equity interests of such Guarantor after which the applicable Guarantor is no longer a “Restricted Subsidiary” (as defined in the Indenture), which sale, transfer, exchange or other disposition is made in compliance with applicable provisions of the Indenture; (2) upon the proper designation of such Guarantor as an “Unrestricted Subsidiary” (as defined in the Indenture), in accordance with the Indenture; (3) upon request of the Company and certification in an officers’ certificate provided to the trustee that the applicable Guarantor has become an "Immaterial Subsidiary" (as defined in the indenture), so long as such Guarantor would not otherwise be required to provide a guarantee pursuant to the Indenture; provided that, if immediately after giving effect to such release the consolidated tangible assets of all Immaterial Subsidiaries that are not Guarantors would exceed 5.0% of consolidated tangible assets, no such release shall occur, (4) if the Company exercises its legal defeasance option or covenant defeasance option under the Indenture or if the obligations of the Company and the Guarantors are discharged in compliance with applicable provisions of the Indenture, upon such exercise or discharge; (5) unless a default has occurred and is continuing, upon the release or discharge of such Guarantor from its guarantee of any indebtedness for borrowed money of the Company and the Guarantors so long as such Guarantor would not then otherwise be required to provide a guarantee pursuant to the Indenture; or (6) upon the full satisfaction of the Company’s obligations under the Indenture; provided that in each case if such Guarantor has incurred any indebtedness in reliance on its status as a Guarantor in compliance with applicable provisions of the Indenture, such Guarantor’s obligations under such indebtedness, as the case may be, so incurred are satisfied in full and discharged or are otherwise permitted to be incurred by a Restricted Subsidiary (other than a Guarantor) in compliance with applicable provisions of the Indenture. The Company has determined that separate, full financial statements of the Guarantors would not be material to investors and, accordingly, supplemental financial information for the guarantors is presented. As the guarantees were made in connection with the first and second quarter 2017 private offering of notes, the Guarantors’ condensed financial information is presented as if the guarantees existed during the period presented. If any subsidiaries are released from the guarantees in future periods, the changes are reflected prospectively. SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS June 30, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Assets Cash and cash equivalents $ 120,557 $ 33,180 $ 222 $ — $ 153,959 Restricted cash — 88 — — 88 Contracts and accounts receivable 14 19,667 7 (1,367 ) 18,321 Intercompany receivables 91,737 — — (91,737 ) — Due from affiliates — 2,062 — — 2,062 Real estate inventories — 365,400 — — 365,400 Investment in and advances to unconsolidated joint ventures — 55,864 — — 55,864 Investment in subsidiaries 345,376 — — (345,376 ) — Other assets 15,836 8,080 — — 23,916 Total assets $ 573,520 $ 484,341 $ 229 $ (438,480 ) $ 619,610 Liabilities and equity Accounts payable $ 110 $ 34,105 $ — $ — $ 34,215 Accrued expenses and other liabilities 7,579 13,126 126 (1,358 ) 19,473 Intercompany payables — 91,737 — (91,737 ) — Due to affiliates — 9 — (9 ) — Senior notes, net 318,121 — — — 318,121 Total liabilities 325,810 138,977 126 (93,104 ) 371,809 Stockholders' equity 247,710 345,364 12 (345,376 ) 247,710 Noncontrolling interest — — 91 — 91 Total equity 247,710 345,364 103 (345,376 ) 247,801 Total liabilities and equity $ 573,520 $ 484,341 $ 229 $ (438,480 ) $ 619,610 December 31, 2016 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Assets Cash and cash equivalents $ 16,385 $ 13,842 $ 269 $ — $ 30,496 Restricted cash — 585 — — 585 Contracts and accounts receivable 30 29,774 — (1,971 ) 27,833 Intercompany receivables 73,972 — — (73,972 ) — Due from affiliates — 1,138 — — 1,138 Real estate inventories — 286,928 — — 286,928 Investment in and advances to unconsolidated joint ventures — 50,857 — — 50,857 Investment in subsidiaries 268,411 — — (268,411 ) — Other assets 9,381 11,918 — — 21,299 Total assets $ 368,179 $ 395,042 $ 269 $ (344,354 ) $ 419,136 Liabilities and equity Accounts payable $ 167 $ 32,900 $ 27 $ — $ 33,094 Accrued expenses and other liabilities 5,489 19,763 108 (1,942 ) 23,418 Intercompany payables — 73,972 — (73,972 ) — Due to affiliates — 29 — (29 ) — Unsecured revolving credit facility 118,000 — — — 118,000 Total liabilities 123,656 126,664 135 (75,943 ) 174,512 Stockholders' equity 244,523 268,378 33 (268,411 ) 244,523 Noncontrolling interest — — 101 — 101 Total equity 244,523 268,378 $ 134 (268,411 ) 244,624 Total liabilities and equity $ 368,179 $ 395,042 $ 269 $ (344,354 ) $ 419,136 SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended June 30, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 96,929 $ — $ — $ 96,929 Fee Building — 47,181 — — 47,181 — 144,110 — — 144,110 Cost of Sales: Home sales — 82,488 — — 82,488 Home sales impairment — 1,300 — — 1,300 Fee building 595 45,304 — — 45,899 595 129,092 — — 129,687 Gross Margin: Home sales — 13,141 — — 13,141 Fee building (595 ) 1,877 — — 1,282 (595 ) 15,018 — — 14,423 Selling and marketing expenses — (6,376 ) — — (6,376 ) General and administrative expenses (375 ) (5,220 ) — — (5,595 ) Equity in net income of unconsolidated joint ventures — 201 — — 201 Equity in net income of subsidiaries 2,022 — — (2,022 ) — Other income (expense), net 26 (174 ) — — (148 ) Income before income taxes 1,078 3,449 — (2,022 ) 2,505 Benefit (provision) for income taxes 439 (1,427 ) — — (988 ) Net income 1,517 2,022 — (2,022 ) 1,517 Net loss attributable to noncontrolling interest — — — — — Net income attributable to The New Home Company Inc. $ 1,517 $ 2,022 $ — $ (2,022 ) $ 1,517 Three Months Ended June 30, 2016 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 77,486 $ 1,350 $ — $ 78,836 Fee Building — 30,068 — (40 ) 30,028 — 107,554 1,350 (40 ) 108,864 Cost of Sales: Home sales — 68,152 1,238 — 69,390 Fee building 496 27,821 — — 28,317 496 95,973 1,238 — 97,707 Gross Margin: Home sales — 9,334 112 — 9,446 Fee building (496 ) 2,247 — (40 ) 1,711 (496 ) 11,581 112 (40 ) 11,157 Selling and marketing expenses — (4,820 ) (226 ) — (5,046 ) General and administrative expenses (3,283 ) (2,550 ) — — (5,833 ) Equity in net income of unconsolidated joint ventures — 3,947 — — 3,947 Equity in net income of subsidiaries 4,843 — — (4,843 ) — Other income (expense), net (57 ) (229 ) (40 ) 40 (286 ) Income (loss) before income taxes 1,007 7,929 (154 ) (4,843 ) 3,939 Benefit (provision) for income taxes 1,502 (2,997 ) — — (1,495 ) Net income (loss) 2,509 4,932 (154 ) (4,843 ) 2,444 Net loss attributable to noncontrolling interest — — 65 — 65 Net income (loss) attributable to The New Home Company Inc. $ 2,509 $ 4,932 $ (89 ) $ (4,843 ) $ 2,509 Six Months Ended June 30, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 166,335 $ — $ — $ 166,335 Fee Building — 102,798 — — 102,798 — 269,133 — — 269,133 Cost of Sales: Home sales — 142,522 31 — 142,553 Home sales impairment — 1,300 — — 1,300 Fee building 1,085 98,740 — — 99,825 1,085 242,562 31 — 243,678 Gross Margin: Home sales — 22,513 (31 ) — 22,482 Fee building (1,085 ) 4,058 — — 2,973 (1,085 ) 26,571 (31 ) — 25,455 Selling and marketing expenses — (11,377 ) — — (11,377 ) General and administrative expenses (1,154 ) (9,531 ) — — (10,685 ) Equity in net income of unconsolidated joint ventures — 507 — — 507 Equity in net income of subsidiaries 3,694 — — (3,694 ) — Other income (expense), net 44 (79 ) — — (35 ) Income (loss) before income taxes 1,499 6,091 (31 ) (3,694 ) 3,865 Benefit (provision) for income taxes 864 (2,376 ) — — (1,512 ) Net income (loss) 2,363 3,715 (31 ) (3,694 ) 2,353 Net loss attributable to noncontrolling interest — — 10 — 10 Net income (loss) attributable to The New Home Company Inc. $ 2,363 $ 3,715 $ (21 ) $ (3,694 ) $ 2,363 Six Months Ended June 30, 2016 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 115,982 $ 5,157 $ — $ 121,139 Fee Building — 73,120 — (155 ) 72,965 — 189,102 5,157 (155 ) 194,104 Cost of Sales: Home sales — 101,422 4,638 — 106,060 Fee building 966 68,265 — — 69,231 966 169,687 4,638 — 175,291 Gross Margin: Home sales — 14,560 519 — 15,079 Fee building (966 ) 4,855 — (155 ) 3,734 (966 ) 19,415 519 (155 ) 18,813 Selling and marketing expenses — (7,838 ) (684 ) — (8,522 ) General and administrative expenses (6,466 ) (4,542 ) — — (11,008 ) Equity in net income of unconsolidated joint ventures — 3,940 — — 3,940 Equity in net income of subsidiaries 6,448 — — (6,448 ) — Other income (expense), net (39 ) (369 ) (142 ) 155 (395 ) Income (loss) before income taxes (1,023 ) 10,606 (307 ) (6,448 ) 2,828 Benefit (provision) for income taxes 2,718 (3,971 ) — — (1,253 ) Net income (loss) 1,695 6,635 (307 ) (6,448 ) 1,575 Net loss attributable to noncontrolling interest — — 120 — 120 Net income (loss) attributable to The New Home Company Inc. $ 1,695 $ 6,635 $ (187 ) $ (6,448 ) $ 1,695 SUPPLEMENTAL CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash used in operating activities $ (21,176 ) $ (49,302 ) $ (47 ) $ (886 ) $ (71,411 ) Investing activities: Purchases of property and equipment (40 ) (55 ) — — (95 ) Cash assumed from joint venture at consolidation — 995 — — 995 Contributions and advances to unconsolidated joint venture — (8,517 ) — — (8,517 ) Contributions to subsidiaries from corporate (94,035 ) — — 94,035 — Distributions of capital from subsidiaries 19,880 — — (19,880 ) — Distributions of capital from unconsolidated joint ventures — 2,948 — — 2,948 Net cash (used in) provided by investing activities $ (74,195 ) $ (4,629 ) $ — $ 74,155 $ (4,669 ) Financing activities: Proceeds from senior notes 324,465 — — — 324,465 Borrowings from credit facility 72,000 — — — 72,000 Repayments of credit facility (190,000 ) — — — (190,000 ) Payment of debt issuance costs (6,440 ) — — — (6,440 ) Contributions to subsidiaries from corporate — 94,035 — (94,035 ) — Distributions to corporate from subsidiaries — (20,766 ) — 20,766 — Minimum tax withholding paid on behalf of employees for stock awards (584 ) — — — (584 ) Proceeds from exercise of stock options 102 — — — 102 Net cash provided by financing activities $ 199,543 $ 73,269 $ — $ (73,269 ) $ 199,543 Net increase (decrease) in cash and cash equivalents 104,172 19,338 (47 ) — 123,463 Cash and cash equivalents – beginning of period 16,385 13,842 269 — 30,496 Cash and cash equivalents – end of period $ 120,557 $ 33,180 $ 222 $ — $ 153,959 Six Months Ended June 30, 2016 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash used in operating activities $ (22,026 ) $ (144,949 ) $ 3,347 $ (2,071 ) $ (165,699 ) Investing activities: Purchases of property and equipment (156 ) (140 ) — — (296 ) Cash assumed from joint venture at consolidation — 2,009 — — 2,009 Contributions and advances to unconsolidated joint venture — (5,656 ) — — (5,656 ) Contributions to subsidiaries from corporate (160,406 ) — — 160,406 — Distributions of capital from subsidiaries 18,929 725 — (19,654 ) — Distributions of capital from unconsolidated joint ventures — 7,405 — — 7,405 Net cash (used in) provided by investing activities $ (141,633 ) $ 4,343 $ — $ 140,752 $ 3,462 Financing activities: Borrowings from senior notes and credit facility 175,000 — — — 175,000 Repayments of credit facility (11,000 ) — — — (11,000 ) Borrowings from other notes payable — — 343 — 343 Repayments of other notes payable — (13,135 ) (2,501 ) — (15,636 ) Payment of debt issuance costs (1,064 ) — — — (1,064 ) Cash distributions to noncontrolling interest in subsidiary — — (725 ) — (725 ) Contributions to subsidiaries from corporate — 160,406 — (160,406 ) — Distributions to corporate from subsidiaries — (21,000 ) (725 ) 21,725 — Minimum tax withholding paid on behalf of employees for stock awards (647 ) — — — (647 ) Excess income tax provision from stock-based compensation (97 ) — — — (97 ) Net cash provided by (used in) financing activities $ 162,192 $ 126,271 $ (3,608 ) $ (138,681 ) $ 146,174 Net decrease in cash and cash equivalents (1,467 ) (14,335 ) (261 ) — (16,063 ) Cash and cash equivalents – beginning of period 18,129 27,140 605 — 45,874 Cash and cash equivalents – end of period $ 16,662 $ 12,805 $ 344 $ — $ 29,811

Organization and Summary of S24

Organization and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts have been eliminated upon consolidation. The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016 . The accompanying unaudited condensed financial statements include all adjustments (consisting of normal recurring entries) necessary for the fair presentation of our results for the interim period presented. Results for the interim period are not necessarily indicative of the results to be expected for the full year. 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	Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying condensed consolidated financial statements and notes. Accordingly, actual results could differ materially from these estimates.
Reclassifications	Reclassifications Certain items in the prior year condensed consolidated statement of cash flows related to capitalized selling and marketing expenses have been reclassified to conform with current year presentation. Effective July 1, 2016, capitalized selling and marketing costs were reclassified to other assets from real estate inventories. Prior year periods have been reclassified to conform.
Segment Reporting	Segment Reporting Accounting Standards Codification (“ASC”) 280, Segment Reporting (“ASC 280”) established standards for the manner in which public enterprises report information about operating segments. In accordance with ASC 280, we have determined that our homebuilding division and our fee building division are our operating segments, which are also our reportable segments.
Cash and Cash Equivalents	Cash and Cash Equivalents We define cash and cash equivalents as cash on hand, demand deposits with financial institutions, and short term liquid investments with a maturity date of less than three months from the date of purchase.
Restricted Cash	Restricted Cash Restricted cash of $0.1 million and $0.6 million as of June 30, 2017 and December 31, 2016 , respectively, is held in accounts for payments of subcontractor costs incurred in connection with various fee building projects.
Real Estate Inventories and Cost of Sales	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 non-refundable land deposits, are expensed to other income (expense), net if we determine continuation of the prospective project is not probable. 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 Accounting Standards Codification ("ASC") 360, Property, Plant and Equipment (“ASC 360”), inventory is stated at cost, unless the carrying amount is determined not to be recoverable, in which case inventory is written down to its fair value. We review each real estate asset on a periodic basis or whenever indicators of impairment exist. Real estate assets include projects actively selling and projects under development or held for future development. Indicators of impairment include, but are not limited to, significant decreases in local housing market values and selling prices of comparable homes, significant decreases in gross margins or sales absorption rates, costs significantly in excess of budget, and actual or projected cash flow losses. 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 remaining undiscounted future cash flows of the project are more or less than the asset’s carrying value. If the undiscounted estimated future cash flows are more than the asset’s carrying value, no impairment adjustment is required. However, if the undiscounted estimated future cash flows are less than the asset’s carrying value, the asset is deemed impaired and is written down to fair value. When estimating undiscounted estimated 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 limited to, land and land development costs, home construction costs, interest costs, indirect construction and overhead costs, and selling and marketing costs; (iv) alternative product offerings that may be offered that could have an impact on sales pace, sales price and/or building costs; and (v) alternative uses for the property. Many assumptions are interdependent and a change in one may require a corresponding change to other assumptions. For example, increasing or decreasing sales absorption rates has a direct impact on the estimated per unit sales price of a home, the level of time sensitive costs (such as indirect construction, overhead and carrying costs), and selling and marketing costs (such as model maintenance costs and advertising costs). Depending on the underlying objective of the project, assumptions could have a significant impact on the projected cash flow analysis. For example, if our objective is to preserve operating margins, our cash flow analysis will be different than if the objective is to increase the velocity of sales. These objectives may vary significantly from project to project and over time. If real estate assets are considered impaired, the impairment adjustments are calculated by determining the amount the asset's carrying value exceeds its fair value. We calculate the fair value of real estate projects using a land residual value analysis or a discounted cash flow analysis. Under the land residual value analysis, we estimate what a willing buyer would pay and what a willing seller would sell a parcel of land for (other than in a forced liquidation) in order to generate a market rate operating margin and return. Under the discounted cash flow method, the fair value is determined by calculating the present value of future cash flows using a risk adjusted discount rate. Critical assumptions that are included as part of these analyses include estimating future housing revenues, sales absorption rates, land development, construction and related carrying costs(including future capitalized interest), and all direct selling and marketing costs. This evaluation and the assumptions used by management to determine future estimated cash flows and fair value require a substantial degree of judgment, especially with respect to real estate projects that have a substantial amount of development to be completed, have not started selling or are in the early stages of sales, or are longer in duration. Actual revenues, costs and time to complete and sell a community could vary from these estimates which could impact the calculation of fair value of the asset and the corresponding amount of impairment that is recorded in our results of operations. For the three and six months ended June 30, 2017, we recorded an impairment charge of $1.3 million relating to one community in Southern California. For additional detail regarding the impairment charge, please see Note 4.
Capitalization of Interest	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 (“ASC 835”). Interest capitalized as a cost component of real estate inventories is included in cost of home sales as related homes or lots are sold. To the extent interest is capitalized to investment in unconsolidated joint ventures, it is included as a reduction of income from unconsolidated joint ventures when the related homes or lots are sold to third parties. To the extent our debt exceeds our qualified assets as defined in ASC 835, we expense a portion of the interest incurred by us. Qualified assets represent projects that are actively selling or under development as well as investments in unconsolidated joint ventures accounted for under the equity method until such equity investees begin their principal operations.
Revenue Recognition	Revenue Recognition Home Sales and Profit Recognition In accordance with ASC 360, revenue from home sales and other real estate sales are recorded and a profit is recognized when the respective homes are closed under the full accrual method. Home sales and other real estate sales are closed when all conditions of escrow are met, including delivery of the home or other real estate asset, title passes, appropriate consideration is received and collection of associated receivables, if any, is reasonably assured. Sales incentives are a reduction of revenues when the respective home is closed. The profit we record is based on the calculation of cost of sales, which is dependent on our allocation of costs, as described in more detail above in the section entitled “Real Estate Inventories and Cost of Sales.” When it is determined that the earnings process is not complete, the sale and related profit are deferred for recognition in future periods. Fee Building The Company enters into fee building agreements to provide services whereby it builds homes on behalf of independent third-party property owners. The independent third-party property owner funds all project costs incurred by the Company to build and sell the homes. The Company primarily enters into cost plus fee contracts where it charges independent third-party property owners for all direct and indirect costs plus a negotiated management fee. For these types of contracts, the Company recognizes revenue based on the actual total costs it has expended plus the applicable management fee. The management fee is typically a fixed fee based on a percentage of the cost or home sales revenue of the project depending on the terms of the agreement with the independent third-party property owner. In accordance with ASC 605, Revenue Recognition (“ASC 605”), revenues from fee building services are recognized using a cost-to-cost approach in applying the percentage-of-completion method. Under this approach, revenue is earned in proportion to total costs incurred, divided by total costs expected to be incurred. The total estimated cost plus the management fee represents the total contract value. The Company recognizes revenue based on the actual labor and other direct costs incurred, plus the portion of the management fee it has earned to date. In the course of providing its services, the Company routinely subcontracts for services and incurs other direct costs on behalf of the property owners. These costs are passed through to the property owners and, in accordance with industry practice and GAAP, are included in the Company’s revenue and cost of revenue. The Company recognizes revenue for any incentive compensation when such financial thresholds are probable of being met and such compensation is deemed to be collectible, generally at the date the amount is communicated to us by the independent third-party property owner. The Company also enters into fee building and management contracts with third parties and its unconsolidated joint ventures where it provides construction supervision services, as well as sales and marketing services, and does not bear financial risks for any services provided. In accordance with ASC 605, revenues from these services are recognized over a proportional performance method or completed performance method. Under ASC 605, revenue is earned as services are provided in proportion to total services expected to be provided to the customer or on a straight line basis if the pattern of performance cannot be determined. Costs are recognized as incurred. Revenue recognition for any portion of the fees earned from these services that are contingent upon a financial threshold or specific event is deferred until the threshold is achieved or the event occurs.
Variable Interest Entities	Variable Interest Entities The Company accounts for variable interest entities in accordance with ASC 810, Consolidation (“ASC 810”). Under ASC 810, a variable interest entity (“VIE”) is created when: (a) the equity investment at risk in the entity is not sufficient to permit the entity to finance its activities without additional subordinated financial support provided by other parties, including the equity holders; (b) the entity’s equity holders as a group either (i) lack the direct or indirect ability to make decisions about the entity, (ii) are not obligated to absorb expected losses of the entity or (iii) do not have the right to receive expected residual returns of the entity; or (c) the entity’s equity holders have voting rights that are not proportionate to their economic interests, and the activities of the entity involve or are conducted on behalf of the equity holder with disproportionately few voting rights. 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 noncontrolling equity holders) lack both substantive participating rights and substantive kick-out rights, defined as follows: • Participating rights - provide the noncontrolling 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 noncontrolling equity holders to remove the general partner or managing member without cause. If we conclude that any of the three characteristics of a VIE are met, including if equity holders lack the characteristics of a controlling financial interest because they lack both substantive participating rights and substantive kick-out rights, we conclude that the entity is a VIE and evaluate it for consolidation under the variable interest model. If an entity is deemed to be a VIE pursuant to ASC 810, the enterprise that has both (i) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (ii) the obligation to absorb the expected losses of the entity or right to receive benefits from the entity that could be potentially significant to the VIE is considered the primary beneficiary and must consolidate the VIE. Under ASC 810, a non-refundable deposit paid to an entity may be deemed to be a variable interest that will absorb some or all of the entity’s expected losses if they occur. Our land purchase and lot option deposits generally represent our maximum exposure to the land seller if we elect not to purchase the optioned property. In some instances, we may also expend funds for due diligence, development and construction activities with respect to optioned land prior to takedown. Such costs are classified as real estate inventories, which we would have to write off should we not exercise the option. Therefore, whenever we enter into a land option or purchase contract with an entity and make a non-refundable deposit, a VIE may have been created. As of June 30, 2017 and December 31, 2016 , the Company was not required to consolidate any VIEs. In accordance with ASC 810, we perform ongoing reassessments of whether we are the primary beneficiary of a VIE.
Noncontrolling Interest	Noncontrolling Interest During 2013, the Company entered into a joint venture agreement with a third-party property owner. In accordance with ASC 810, the Company analyzed this arrangement and determined that it was not a VIE; however, the Company determined it was required to consolidate the joint venture as the Company has a controlling financial interest with the powers to direct the major decisions of the entity.
Investments in and Advances to Unconsolidated Joint Ventures	Investments in and Advances to Unconsolidated Joint Ventures We use the equity method to account for investments in homebuilding and land development joint ventures that qualify as VIEs where we are not the primary beneficiary and other entities that we do not control but have the ability to exercise significant influence over the operating and financial policies of the investee. The Company also uses the equity method when we function as the managing member or general partner and our venture partner has substantive participating rights or where we can be replaced by our venture partner as managing member without cause. As of June 30, 2017 , the Company concluded that none of its joint ventures were VIEs and accounted for these entities under the equity method of accounting. 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 parties. Our proportionate share of intra-entity profits and losses are eliminated until the related asset has been sold by the unconsolidated joint venture to third parties. We classify cash distributions received from equity method investees using the cumulative earnings approach consistent with ASU No. 2016-15, Statement of Cash Flows(Topic 230): Classification of Certain Cash Receipts and Cash Payments ("ASU 2016-15"). Under the cumulative earnings approach, distributions received are considered returns on investment and shall be classified as cash inflows from operating activities unless the cumulative distributions received exceed cumulative equity in earnings. When such an excess occurs, the current-period distribution up to this excess is considered a return of investment and shall be classified as cash inflows from investing activities. Our ownership interests in our unconsolidated joint ventures vary, but are generally less than or equal to 35% . The accounting policies of our joint ventures are consistent with those of the Company. We review real estate inventory held by our unconsolidated joint ventures for impairment, consistent with our real estate inventories. We also review our investments in and advances to unconsolidated joint ventures for evidence of other-than-temporary declines in value. To the extent we deem any portion of our investment in and advances to unconsolidated joint ventures as not recoverable, we impair our investment accordingly. For the three and six months ended June 30, 2017 and 2016 , no impairments related to investment in and advances to unconsolidated joint ventures were recorded.
Selling and Marketing Expense	Selling and Marketing Expense Selling and marketing costs incurred to sell real estate projects are capitalized to other assets in the accompanying condensed consolidated balance sheets if they are reasonably expected to be recovered from the sale of the project or from incidental operations, and are incurred for tangible assets that are used directly through the selling period to aid in the sale of the project or services that have been performed to obtain regulatory approval of sales. These capitalizable selling and marketing costs include, but are not limited to, model home design, model home decor and landscaping, and sales office/design studio setup. All other selling and marketing costs, such as commissions and advertising, are expensed in the period incurred and included in selling and marketing expense in the accompanying condensed consolidated statements of operations.
Warranty Accrual	Warranty Accrual We offer warranties on our homes that generally cover various defects in workmanship or materials, or structural construction defects for one year. In addition, we generally provide a more limited warranty, which generally ranges from a minimum of two years up to the period covered by the applicable statute of repose, that covers certain defined construction defects. Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related homebuilding revenues are recognized. Amounts are accrued based upon the Company’s historical rates. In addition, the Company has received warranty payments from third-party property owners for certain of its fee building projects that have since closed-out where the Company has the contractual risk of construction. These payments are recorded as warranty accruals. We assess the adequacy of our warranty accrual on a quarterly basis and adjust the amounts recorded if necessary. Our warranty accrual is included in accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets and adjustments to our warranty accrual are recorded through cost of sales.
Contracts and Accounts Receivable	Contracts and Accounts Receivable Contracts and accounts receivable primarily represent the fees earned, but not collected, and reimbursable project costs incurred in connection with fee building agreements. The Company periodically evaluates the collectability of its contracts receivable, and, if it is determined that a receivable might not be fully collectible, an allowance is recorded for the amount deemed uncollectible. This allowance for doubtful accounts is estimated based on management’s evaluation of the contracts involved and the financial condition of its customers. Factors considered in such evaluations include, but are not limited to: (i) customer type; (ii) historical contract performance; (iii) historical collection and delinquency trends; (iv) customer credit worthiness; and (v) general economic conditions. In addition to contracts receivable, escrow receivables are included in contracts and accounts receivable in the accompanying condensed consolidated balance sheets.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost and included in other assets in the accompanying condensed consolidated balance sheets and depreciated using the straight-line method over their estimated useful lives ranging from three to five years. Leasehold improvements are stated at cost and are amortized using the straight-line method over the shorter of either their estimated useful lives or the term of the lease.
Income Taxes	Income Taxes Income taxes are accounted for in accordance with ASC 740, Income Taxes (“ASC 740”). The consolidated provision for, or benefit from, income taxes is calculated using the asset and liability method, under which deferred tax assets and liabilities are recorded based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are evaluated on a quarterly basis to determine if adjustments to the valuation allowance are required. In accordance with ASC 740, we assess whether a valuation allowance should be established based on the consideration of all available evidence using a “more likely than not” standard with respect to whether deferred tax assets will be realized. The ultimate realization of deferred tax assets depends primarily on the generation of future taxable income during the periods in which the differences become deductible. The value of our deferred tax assets will depend on applicable income tax rates. Judgment is required in determining the future tax consequences of events that have been recognized in our consolidated financial statements and/or tax returns. Differences between anticipated and actual outcomes of these future tax consequences could have a material impact on our consolidated financial statements. ASC 740 defines the methodology for recognizing the benefits of uncertain tax return positions as well as guidance regarding the measurement of the resulting tax benefits. These provisions require an enterprise to recognize the financial statement effects of a tax position when it is more likely than not (defined as a likelihood of more than 50%), based on the technical merits, that the position will be sustained upon examination. In addition, these provisions provide guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The evaluation of whether a tax position meets the more-likely-than-not recognition threshold requires a substantial degree of judgment by management based on the individual facts and circumstances. The Company accounts for income taxes in accordance with ASC 740, which requires an asset and liability approach for measuring deferred taxes based on temporary differences between the financial statements and tax bases of assets and liabilities existing at each balance sheet date using enacted tax rates for the years in which taxes are expected to be paid or recovered. Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than not unrealizable under ASC 740. We are required to establish a valuation allowance for any portion of the asset we conclude is more likely than not unrealizable. Our assessment considers, among other things, the nature, frequency and severity of prior cumulative losses, forecasts of future taxable income, the duration of statutory carryforward periods, our utilization experience with operating loss and tax credit carryforwards and the planning alternatives, to the extent these items are applicable. The Company classifies any interest and penalties related to income taxes assessed as part of income tax expense. The Company has concluded that there were no significant uncertain tax positions requiring recognition in its financial statements, nor has the Company been assessed interest or penalties by any major tax jurisdictions related to any open tax periods.
Stock-Based Compensation	Stock-Based Compensation We account for share-based awards in accordance with ASC 718, Compensation – Stock Compensation (“ASC 718”) and ASC 505-50, Equity – Equity Based Payments to Non-Employees (“ASC 505-50”). ASC 718 requires that the cost resulting from all share-based payment transactions be recognized in a company's financial statements. ASC 718 requires all entities to apply a fair-value-based measurement method in accounting for share-based payment transactions with employees except for equity instruments held by employee share ownership plans. On June 26, 2015, the Company entered into an agreement that transitioned Joseph Davis' role within the Company from Chief Investment Officer to a non-employee consultant to the Company. On February 16, 2017, the Company entered into an agreement that transitioned Wayne Stelmar's role within the Company from Chief Investment Officer to a non-employee consultant and non-employee director. Per the agreements, Mr. Davis' and Mr. Stelmar's outstanding equity awards will continue to vest in accordance with their original terms. Under ASC 505-50, if an employee becomes a non-employee and continues to vest in an award pursuant to the award's original terms, that award will be treated as an award to a non-employee prospectively, provided the individual is required to continue providing services to the employer (such as consulting services). Based on the terms and conditions of both Mr. Davis' and Mr. Stelmar's consulting agreements noted above, we account for their share-based awards in accordance with ASC 505-50. ASC 505-50 requires that these awards be accounted for prospectively, such that the fair value of the awards will be re-measured at each reporting date until the earlier of (a) the performance commitment date or (b) the date the services required under the transition agreement with Mr. Davis or Mr. Stelmar have been completed. ASC 505-50 requires that compensation cost ultimately recognized in the Company's financial statements be the sum of (a) the compensation cost recognized during the period of time the individual was an employee (based on the grant-date fair value) plus (b) the fair value of the award determined on the measurement date determined in accordance with ASC 505-50 for the pro-rata portion of the vesting period in which the individual was a non-employee. Mr. Davis' outstanding awards fully vested during January 2017 and were fully expensed. Beginning January 1, 2017, the Company adopted ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The adoption of ASU 2016-09 had no effect on beginning retained earnings or any other components of equity or net assets. The Company has elected to apply the amendments in ASC 2016-09 related to the presentation of excess income tax provisions on the statement of cash flows using a prospective transition method resulting in no adjustment to the classification of the prior year excess income tax provision from stock-based compensation in the accompanying condensed consolidated statement of cash flows.
Recently Issued Accounting Standards	Recently Issued Accounting Standards The Company qualifies as an “emerging growth company” pursuant to the provisions of the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Section 102 of the JOBS Act provides that an “emerging growth company” can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933, as amended, for complying with new or revised accounting standards. As previously disclosed, the Company has chosen, irrevocably, to “opt out” of such extended transition period, and as a result, will comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes existing accounting literature relating to how and when a company recognizes revenue. Under ASU 2014-09, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. Additionally, ASU 2014-09 supersedes existing industry specific accounting literature relating to how a company expenses certain selling and marketing costs. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which delayed the effective date of ASU 2014-09 by one year. As a public company, ASU 2014-09 is effective for our interim and annual reporting periods beginning after December 15, 2017, and at that time, we expect to adopt the new standard under the modified retrospective approach. Under the modified retrospective approach, we will recognize the cumulative effect of initially applying the new standard as an adjustment to the opening balance of retained earnings. In anticipation of this adoption, we have developed an implementation plan and are working to identify significant changes to our financial statements and accounting policies. At this time, we do not believe the adoption of ASU 2014-09 will have a material impact on the amount of our revenues. We will continue to evaluate the impact that adoption of ASU 2014-09 will have on the timing of recognition of our revenues. Although we are still evaluating the accounting for selling and marketing costs under the new standard, adoption of ASU 2014-09 may impact the timing of recognition and classification of certain capitalized selling and marketing costs we incur to obtain sales contracts from our customers. Currently, these costs are capitalized and amortized to selling and marketing expenses as homes are delivered. Upon adoption of ASU 2014-09, portions of these costs may be expensed as incurred to selling and marketing expenses. The adoption of ASU 2014-09 by our unconsolidated joint ventures may impact the timing of recognition of income or loss allocations from these entities. We continue to evaluate the impact the adoption may have on other aspects of our business and on our consolidated financial statements and disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 will require organizations that lease assets (referred to as “lessees”) to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Under ASU 2016-02, a lessee will be required to recognize assets and liabilities for leases with lease terms of more than 12 months. Lessor accounting remains substantially similar to current GAAP. In addition, disclosures of leasing activities are to be expanded to include qualitative along with specific quantitative information. ASU 2016-02 is effective for interim and annual reporting periods beginning after December 15, 2018. ASU 2016-02 mandates a modified retrospective transition method. The Company's lease contracts primarily consist of rental agreements for office space and copiers or printers where we are the lessee. The Company has begun the process of evaluating these lease contracts and believes all would be considered operating leases. Upon adoption, we expect to add a right-of-use asset and a lease liability to our consolidated balance sheet. The Company will recognize lease expense on a straight-line basis, consistent with our current policy for office rent. ASU 2016-02 is not expected to have a material impact on our consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-07, Investments- Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting ("ASU 2016-07"), which eliminates the requirement to apply the equity method of accounting retrospectively when a reporting entity obtains significant influence over a previously held investment. Our adoption of ASU 2016-07 on January 1, 2017 did not have an effect on our condensed consolidated financial statements. In August 2016, the FASB issued ASU 2016-15. ASU 2016-15 provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. ASU 2016-15 is effective for interim and annual reporting periods beginning after December 15, 2017, and early adoption is permitted. We do not expect the adoption of ASU 2016-15 to have a material effect on our consolidated financial statements and disclosures. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash ("ASU 2016-18"). ASU 2016-16 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 is effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted. The guidance is not expected to have a material impact on our consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805), Clarifying the Definition of a Business ("ASU 2017-01"). ASU 2017-01 clarifies the definition of a business with the objective of addressing whether transactions involving in-substance nonfinancial assets, held directly or in a subsidiary, should be accounted for as acquisitions or disposals of nonfinancial assets or of businesses. ASU 2017-01 is effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted for transactions, including acquisitions or dispositions, which occurred before the issuance date or effective date of the standard if the transactions were not reported in financial statements that have been issued or made available for issuance. The adoption of ASU 2017-01 is not expected to have a material effect on the Company’s consolidated financial statements. In February 2017, the FASB issued ASU No. 2017-05, Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets ("ASU 2017-05"). ASU 2017-05 clarifies the guidance for derecognition of nonfinancial assets and in-substance nonfinancial assets when the asset does not meet the definition of a business and is not a not-for-profit activity. ASU 2017-05 is effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted, but entities are required to adopt ASU 2017-05 at the same time they adopt ASU 2014-09. We expect to adopt the new standard under the modified retrospective approach. Under the modified retrospective approach, we will recognize the cumulative effect of initially applying the new standard as an adjustment to the opening balance of retained earnings. We are still evaluating the effects ASU 2017-05 will have on our consolidated financial statements. We expect that adoption may decrease our accrued expenses and other liabilities due to certain non-financial assets that were previously exchanged for a noncontrolling interest in an unconsolidated joint venture. In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718), Scope of Modification Accounting ("ASU 2017-09"). The guidance provides clarity and reduces diversity in practice and cost and complexity when accounting for a change to the terms or conditions of a share-based payment award. ASU 2017-09 is effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period, for (1) public business entities for reporting periods for which financial statements have not yet been issued and (2) all other entities for reporting periods for which financial statements have not yet been made available for issuance. The adoption of ASU 2017-09 is not expected to have a material impact on our consolidated financial statements.

Computation of Earnings (Loss25

Computation of Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of components used in the computation of basic and diluted earnings per share	The following table sets forth the components used in the computation of basic and diluted earnings (loss) per share for the three and six months ended June 30, 2017 and 2016 : Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands, except share and per share amounts) Numerator: Net income attributable to The New Home Company Inc. $ 1,517 $ 2,509 $ 2,363 $ 1,695 Denominator: Basic weighted-average shares outstanding 20,869,429 20,709,139 20,819,288 20,654,998 Effect of dilutive shares: Stock options and unvested restricted stock units 87,294 51,047 101,862 90,804 Diluted weighted-average shares outstanding 20,956,723 20,760,186 20,921,150 20,745,802 Basic earnings per share attributable to The New Home Company Inc. $ 0.07 $ 0.12 $ 0.11 $ 0.08 Diluted earnings per share attributable to The New Home Company Inc. $ 0.07 $ 0.12 $ 0.11 $ 0.08 Antidilutive stock options and unvested restricted stock units not included in diluted earnings (loss) per share 22,077 888,953 846,725 867,272

Contracts and Accounts Receiv26

Contracts and Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
Schedule of contracts and accounts receivables	Contracts and accounts receivable consist of the following: June 30, December 31, 2017 2016 (Dollars in thousands) Contracts receivable: Costs incurred on fee building projects $ 99,825 $ 178,103 Estimated earnings 2,973 8,404 102,798 186,507 Less: amounts collected during the period (89,321 ) (162,203 ) Contracts receivable $ 13,477 $ 24,304 Contracts receivable: Billed $ — $ — Unbilled 13,477 24,304 13,477 24,304 Accounts receivable: Escrow receivables 4,721 3,385 Other receivables 123 144 Contracts and accounts receivable $ 18,321 $ 27,833

Real Estate Inventories and C27

Real Estate Inventories and Capitalized Interest (Tables)	6 Months Ended
	Jun. 30, 2017
Real Estate [Abstract]
Asset Impairment Charges [Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in Thousands) Inventory impairments: Home sales $ 1,300 $ — $ 1,300 $ — Total inventory impairments $ 1,300 $ — $ 1,300 $ — Remaining carrying value of inventory impaired at period end $ 12,550 $ — $ 12,550 $ — Number of projects impaired during the period 1 — 1 — Total number of projects subject to periodic impairment review during the year (1) 25 23 26 23 (1) Represents the peak number of real estate projects that we had during each respective period. The number of projects outstanding at the end of each period may be less than the number of projects listed herein.
Summary of real estate inventories	Real estate inventories are summarized as follows: June 30, December 31, 2017 2016 (Dollars in thousands) Deposits and pre-acquisition costs $ 45,480 $ 38,723 Land held and land under development 107,998 98,596 Homes completed or under construction 179,885 93,628 Model homes 32,037 55,981 $ 365,400 $ 286,928
Summary of interest incurred, capitalized, and expensed	For the three and six months ended June 30, 2017 and 2016 interest incurred, capitalized and expensed was as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Interest incurred $ 6,401 $ 1,689 $ 8,437 $ 2,970 Interest capitalized to inventory (5,878 ) (1,689 ) (7,750 ) (2,970 ) Interest capitalized to investments in unconsolidated joint ventures (523 ) — (687 ) — Interest expensed $ — $ — $ — $ — Capitalized interest in beginning inventory $ 6,663 $ 4,823 $ 6,342 $ 4,190 Interest capitalized as a cost of inventory 5,878 1,689 7,750 2,970 Previously capitalized interest included in cost of sales (1,720 ) (1,063 ) (3,271 ) (1,711 ) Capitalized interest in ending inventory $ 10,821 $ 5,449 10,821 5,449 Capitalized interest in beginning investment in unconsolidated joint ventures 164 — — — Interest capitalized to investments in unconsolidated joint ventures 523 — 687 — Previously capitalized interest included in equity in net income of unconsolidated joint ventures — — — — Capitalized interest in ending investments in unconsolidated joint ventures 687 — 687 — Total capitalized interest in ending inventory and investments in unconsolidated joint ventures $ 11,508 $ 5,449 $ 11,508 $ 5,449 Capitalized interest as a percentage of inventory 3.0 % 1.4 % 3.0 % 1.4 % Interest included in cost of sales as a percentage of home sales revenue 1.8 % 1.3 % 2.0 % 1.4 % Capitalized interest as a percentage of investments in and advances to unconsolidated joint ventures 1.2 % — % 1.2 % — %

Investments in and advances t28

Investments in and advances to unconsolidated joint ventures (Tables)	6 Months Ended
	Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Schedule of summarized financial information of unconsolidated joint ventures	The condensed combined balance sheets for our unconsolidated joint ventures accounted for under the equity method are as follows: June 30, December 31, 2017 2016 (Dollars in thousands) Cash and cash equivalents $ 31,304 $ 33,683 Restricted cash 16,176 8,374 Real estate inventories 407,239 386,487 Other assets 1,922 1,664 Total assets $ 456,641 $ 430,208 Accounts payable and accrued liabilities $ 28,109 $ 28,706 Notes payable 106,111 97,664 Total liabilities 134,220 126,370 The New Home Company's equity 49,226 46,857 Other partners' equity 273,195 256,981 Total equity 322,421 303,838 Total liabilities and equity $ 456,641 $ 430,208 Debt-to-capitalization ratio 24.8 % 24.3 % Debt-to-equity ratio 32.9 % 32.1 % The condensed combined statements of operations for our unconsolidated joint ventures accounted for under the equity method are as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Revenues $ 35,171 $ 70,104 $ 61,791 $ 112,061 Cost of sales and expenses 35,825 59,909 63,309 99,725 Net (loss) income of unconsolidated joint ventures $ (654 ) $ 10,195 $ (1,518 ) $ 12,336 Equity in net income of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations $ 201 $ 3,947 $ 507 $ 3,940

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2017
Other Assets [Abstract]
Schedule of other assets	Other assets consist of the following: June 30, December 31, 2017 2016 (Dollars in thousands) Capitalized selling and marketing costs (1) $ 11,878 $ 10,101 Deferred tax asset, net 8,488 8,434 Property and equipment, net of accumulated depreciation 716 857 Prepaid expenses 2,834 1,907 $ 23,916 $ 21,299 (1) The Company amortized $2.1 million , $3.2 million , $1.6 million , and $2.4 million of capitalized selling and marketing project costs to selling and marketing expenses during the three and six months ended June 30, 2017 and 2016 , respectively.

Accrued Expenses and Other Li30

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2017
Payables and Accruals [Abstract]
Schedule of accrued liabilities and other liabilities	Accrued expenses and other liabilities consist of the following: June 30, December 31, 2017 2016 (Dollars in thousands) Warranty accrual $ 5,399 $ 4,931 Accrued compensation and benefits 3,181 6,786 Accrued interest 6,872 648 Completion reserve 1,471 1,355 Income taxes payable — 7,147 Deferred profit from unconsolidated joint ventures 460 957 Other accrued expenses 2,090 1,594 $ 19,473 $ 23,418
Schedule of changes in warranty accrual	Changes in our warranty accrual are detailed in the table set forth below: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Beginning warranty accrual for homebuilding projects $ 4,678 $ 4,057 $ 4,608 $ 3,846 Warranty provision for homebuilding projects 331 493 602 805 Warranty assumed from joint venture at consolidation 358 469 358 469 Warranty payments for homebuilding projects (291 ) (145 ) (492 ) (246 ) Ending warranty accrual for homebuilding projects 5,076 4,874 5,076 4,874 Beginning warranty accrual for fee building projects 323 332 323 335 Warranty provision for fee building projects — — — — Warranty efforts for fee building projects — (1 ) — (4 ) Ending warranty accrual for fee building projects 323 331 323 331 Total ending warranty accrual $ 5,399 $ 5,205 $ 5,399 $ 5,205

Senior Notes and Unsecured Re31

Senior Notes and Unsecured Revolving Credit Facility (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Schedule of notes payable	Notes payable consisted of the following: June 30, December 31, 2017 2016 (Dollars in thousands) 7.25% Senior Notes due 2022, net $ 318,121 $ — Senior unsecured revolving credit facility — 118,000 Total Notes Payable $ 318,121 $ 118,000

Fair Value Disclosures Fair Val

Fair Value Disclosures Fair Value Disclosure (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	The following table presents an estimated fair value of the Company's senior notes measured on a recurring basis. The estimated value is based on Level 2 inputs, which primarily reflect estimated prices for our Notes obtained from outside pricing sources. June 30, 2017 December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value (dollars in thousands) 7.25% Senior Notes due 2022, net (1) $ 318,121 $ 334,750 $ — $ — (1) The carrying value for the Senior Notes, as presented, is net of the unamortized discount of $2.5 million , unamortized premium of $2.0 million , and $6.4 million of debt issuance costs. The unamortized discount, unamortized premium and debt issuance costs are not factored into the estimated fair value.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of common stock option activity	A summary of the Company’s common stock option activity as of and for the six months ended June 30, 2017 and 2016 is presented below: Six Months Ended June 30, 2017 2016 Number of Shares Weighted-Average Exercise Price per Share Number of Shares Weighted-Average Exercise Price per Share Stock Option Activity Outstanding, beginning of period 835,786 $ 11.00 840,298 $ 11.00 Granted — $ — — $ — Exercised (9,288 ) $ 11.00 — $ — Forfeited — $ — (4,512 ) $ 11.00 Outstanding, end of period 826,498 $ 11.00 835,786 $ 11.00 Exercisable, end of period 826,498 $ 11.00 44,442 $ 11.00
Summary of restricted stock units	A summary of the Company’s restricted stock unit activity as of and for the six months ended June 30, 2017 and 2016 is presented below: Six Months Ended June 30, 2017 2016 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 474,989 $ 10.66 308,386 $ 14.20 Granted 343,933 $ 10.84 409,509 $ 10.05 Vested (209,619 ) $ 10.76 (231,289 ) $ 14.22 Forfeited (26,194 ) $ 10.82 (3,980 ) $ 13.68 Outstanding, end of period 583,109 $ 10.72 482,626 $ 10.67
Summary of stock-based compensation expense	The expense related to the Company's stock-based compensation programs, included in general and administrative expense in the accompanying condensed consolidated statements of operations, was as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Expense related to: Stock options $ — $ 185 $ 11 $ 447 Restricted stock units 695 572 1,295 1,295 $ 695 $ 757 $ 1,306 $ 1,742

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule of financial information related to reportable segments	Financial information relating to reportable segments was as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Revenues: Homebuilding $ 96,929 $ 78,836 $ 166,335 $ 121,139 Fee building, including management fees 47,181 30,028 102,798 72,965 Total $ 144,110 $ 108,864 $ 269,133 $ 194,104 Income (loss) before income taxes: Homebuilding $ 1,223 $ 2,228 $ 892 $ (906 ) Fee building, including management fees 1,282 1,711 2,973 3,734 Total $ 2,505 $ 3,939 $ 3,865 $ 2,828 June 30, December 31, 2017 2016 (Dollars in thousands) Assets: Homebuilding $ 605,358 $ 393,095 Fee building 14,252 26,041 Total $ 619,610 $ 419,136

Supplemental Disclosure of Ca35

Supplemental Disclosure of Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2017
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	The following table presents certain supplemental cash flow information: Six Months Ended June 30, 2017 2016 (Dollars in thousands) Supplemental disclosures of cash flow information Interest paid, net of amounts capitalized $ — $ — Income taxes paid $ 8,750 $ 8,150 Supplemental disclosures of non-cash transactions Assets assumed from unconsolidated joint ventures $ 100 $ 46,811 Liabilities and equity assumed from unconsolidated joint ventures $ 1,095 $ 47,197 Contribution of real estate to unconsolidated joint ventures $ 1,013 $ —

Supplemental Guarantor Inform36

Supplemental Guarantor Information (Tables)	6 Months Ended
	Jun. 30, 2017
Supplemental Guarantor Information [Abstract]
Supplemental Condensed Consolidating Balance Sheet [Table Text Block]	June 30, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Assets Cash and cash equivalents $ 120,557 $ 33,180 $ 222 $ — $ 153,959 Restricted cash — 88 — — 88 Contracts and accounts receivable 14 19,667 7 (1,367 ) 18,321 Intercompany receivables 91,737 — — (91,737 ) — Due from affiliates — 2,062 — — 2,062 Real estate inventories — 365,400 — — 365,400 Investment in and advances to unconsolidated joint ventures — 55,864 — — 55,864 Investment in subsidiaries 345,376 — — (345,376 ) — Other assets 15,836 8,080 — — 23,916 Total assets $ 573,520 $ 484,341 $ 229 $ (438,480 ) $ 619,610 Liabilities and equity Accounts payable $ 110 $ 34,105 $ — $ — $ 34,215 Accrued expenses and other liabilities 7,579 13,126 126 (1,358 ) 19,473 Intercompany payables — 91,737 — (91,737 ) — Due to affiliates — 9 — (9 ) — Senior notes, net 318,121 — — — 318,121 Total liabilities 325,810 138,977 126 (93,104 ) 371,809 Stockholders' equity 247,710 345,364 12 (345,376 ) 247,710 Noncontrolling interest — — 91 — 91 Total equity 247,710 345,364 103 (345,376 ) 247,801 Total liabilities and equity $ 573,520 $ 484,341 $ 229 $ (438,480 ) $ 619,610 December 31, 2016 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Assets Cash and cash equivalents $ 16,385 $ 13,842 $ 269 $ — $ 30,496 Restricted cash — 585 — — 585 Contracts and accounts receivable 30 29,774 — (1,971 ) 27,833 Intercompany receivables 73,972 — — (73,972 ) — Due from affiliates — 1,138 — — 1,138 Real estate inventories — 286,928 — — 286,928 Investment in and advances to unconsolidated joint ventures — 50,857 — — 50,857 Investment in subsidiaries 268,411 — — (268,411 ) — Other assets 9,381 11,918 — — 21,299 Total assets $ 368,179 $ 395,042 $ 269 $ (344,354 ) $ 419,136 Liabilities and equity Accounts payable $ 167 $ 32,900 $ 27 $ — $ 33,094 Accrued expenses and other liabilities 5,489 19,763 108 (1,942 ) 23,418 Intercompany payables — 73,972 — (73,972 ) — Due to affiliates — 29 — (29 ) — Unsecured revolving credit facility 118,000 — — — 118,000 Total liabilities 123,656 126,664 135 (75,943 ) 174,512 Stockholders' equity 244,523 268,378 33 (268,411 ) 244,523 Noncontrolling interest — — 101 — 101 Total equity 244,523 268,378 $ 134 (268,411 ) 244,624 Total liabilities and equity $ 368,179 $ 395,042 $ 269 $ (344,354 ) $ 419,136
Supplemental Condensed Consolidating Statement of Operations [Table Text Block]	Three Months Ended June 30, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 96,929 $ — $ — $ 96,929 Fee Building — 47,181 — — 47,181 — 144,110 — — 144,110 Cost of Sales: Home sales — 82,488 — — 82,488 Home sales impairment — 1,300 — — 1,300 Fee building 595 45,304 — — 45,899 595 129,092 — — 129,687 Gross Margin: Home sales — 13,141 — — 13,141 Fee building (595 ) 1,877 — — 1,282 (595 ) 15,018 — — 14,423 Selling and marketing expenses — (6,376 ) — — (6,376 ) General and administrative expenses (375 ) (5,220 ) — — (5,595 ) Equity in net income of unconsolidated joint ventures — 201 — — 201 Equity in net income of subsidiaries 2,022 — — (2,022 ) — Other income (expense), net 26 (174 ) — — (148 ) Income before income taxes 1,078 3,449 — (2,022 ) 2,505 Benefit (provision) for income taxes 439 (1,427 ) — — (988 ) Net income 1,517 2,022 — (2,022 ) 1,517 Net loss attributable to noncontrolling interest — — — — — Net income attributable to The New Home Company Inc. $ 1,517 $ 2,022 $ — $ (2,022 ) $ 1,517 Three Months Ended June 30, 2016 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 77,486 $ 1,350 $ — $ 78,836 Fee Building — 30,068 — (40 ) 30,028 — 107,554 1,350 (40 ) 108,864 Cost of Sales: Home sales — 68,152 1,238 — 69,390 Fee building 496 27,821 — — 28,317 496 95,973 1,238 — 97,707 Gross Margin: Home sales — 9,334 112 — 9,446 Fee building (496 ) 2,247 — (40 ) 1,711 (496 ) 11,581 112 (40 ) 11,157 Selling and marketing expenses — (4,820 ) (226 ) — (5,046 ) General and administrative expenses (3,283 ) (2,550 ) — — (5,833 ) Equity in net income of unconsolidated joint ventures — 3,947 — — 3,947 Equity in net income of subsidiaries 4,843 — — (4,843 ) — Other income (expense), net (57 ) (229 ) (40 ) 40 (286 ) Income (loss) before income taxes 1,007 7,929 (154 ) (4,843 ) 3,939 Benefit (provision) for income taxes 1,502 (2,997 ) — — (1,495 ) Net income (loss) 2,509 4,932 (154 ) (4,843 ) 2,444 Net loss attributable to noncontrolling interest — — 65 — 65 Net income (loss) attributable to The New Home Company Inc. $ 2,509 $ 4,932 $ (89 ) $ (4,843 ) $ 2,509 Six Months Ended June 30, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 166,335 $ — $ — $ 166,335 Fee Building — 102,798 — — 102,798 — 269,133 — — 269,133 Cost of Sales: Home sales — 142,522 31 — 142,553 Home sales impairment — 1,300 — — 1,300 Fee building 1,085 98,740 — — 99,825 1,085 242,562 31 — 243,678 Gross Margin: Home sales — 22,513 (31 ) — 22,482 Fee building (1,085 ) 4,058 — — 2,973 (1,085 ) 26,571 (31 ) — 25,455 Selling and marketing expenses — (11,377 ) — — (11,377 ) General and administrative expenses (1,154 ) (9,531 ) — — (10,685 ) Equity in net income of unconsolidated joint ventures — 507 — — 507 Equity in net income of subsidiaries 3,694 — — (3,694 ) — Other income (expense), net 44 (79 ) — — (35 ) Income (loss) before income taxes 1,499 6,091 (31 ) (3,694 ) 3,865 Benefit (provision) for income taxes 864 (2,376 ) — — (1,512 ) Net income (loss) 2,363 3,715 (31 ) (3,694 ) 2,353 Net loss attributable to noncontrolling interest — — 10 — 10 Net income (loss) attributable to The New Home Company Inc. $ 2,363 $ 3,715 $ (21 ) $ (3,694 ) $ 2,363 Six Months Ended June 30, 2016 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 115,982 $ 5,157 $ — $ 121,139 Fee Building — 73,120 — (155 ) 72,965 — 189,102 5,157 (155 ) 194,104 Cost of Sales: Home sales — 101,422 4,638 — 106,060 Fee building 966 68,265 — — 69,231 966 169,687 4,638 — 175,291 Gross Margin: Home sales — 14,560 519 — 15,079 Fee building (966 ) 4,855 — (155 ) 3,734 (966 ) 19,415 519 (155 ) 18,813 Selling and marketing expenses — (7,838 ) (684 ) — (8,522 ) General and administrative expenses (6,466 ) (4,542 ) — — (11,008 ) Equity in net income of unconsolidated joint ventures — 3,940 — — 3,940 Equity in net income of subsidiaries 6,448 — — (6,448 ) — Other income (expense), net (39 ) (369 ) (142 ) 155 (395 ) Income (loss) before income taxes (1,023 ) 10,606 (307 ) (6,448 ) 2,828 Benefit (provision) for income taxes 2,718 (3,971 ) — — (1,253 ) Net income (loss) 1,695 6,635 (307 ) (6,448 ) 1,575 Net loss attributable to noncontrolling interest — — 120 — 120 Net income (loss) attributable to The New Home Company Inc. $ 1,695 $ 6,635 $ (187 ) $ (6,448 ) $ 1,695
Supplemental Condensed Consolidated Statement of Cash Flows [Table Text Block]	Six Months Ended June 30, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash used in operating activities $ (21,176 ) $ (49,302 ) $ (47 ) $ (886 ) $ (71,411 ) Investing activities: Purchases of property and equipment (40 ) (55 ) — — (95 ) Cash assumed from joint venture at consolidation — 995 — — 995 Contributions and advances to unconsolidated joint venture — (8,517 ) — — (8,517 ) Contributions to subsidiaries from corporate (94,035 ) — — 94,035 — Distributions of capital from subsidiaries 19,880 — — (19,880 ) — Distributions of capital from unconsolidated joint ventures — 2,948 — — 2,948 Net cash (used in) provided by investing activities $ (74,195 ) $ (4,629 ) $ — $ 74,155 $ (4,669 ) Financing activities: Proceeds from senior notes 324,465 — — — 324,465 Borrowings from credit facility 72,000 — — — 72,000 Repayments of credit facility (190,000 ) — — — (190,000 ) Payment of debt issuance costs (6,440 ) — — — (6,440 ) Contributions to subsidiaries from corporate — 94,035 — (94,035 ) — Distributions to corporate from subsidiaries — (20,766 ) — 20,766 — Minimum tax withholding paid on behalf of employees for stock awards (584 ) — — — (584 ) Proceeds from exercise of stock options 102 — — — 102 Net cash provided by financing activities $ 199,543 $ 73,269 $ — $ (73,269 ) $ 199,543 Net increase (decrease) in cash and cash equivalents 104,172 19,338 (47 ) — 123,463 Cash and cash equivalents – beginning of period 16,385 13,842 269 — 30,496 Cash and cash equivalents – end of period $ 120,557 $ 33,180 $ 222 $ — $ 153,959 Six Months Ended June 30, 2016 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash used in operating activities $ (22,026 ) $ (144,949 ) $ 3,347 $ (2,071 ) $ (165,699 ) Investing activities: Purchases of property and equipment (156 ) (140 ) — — (296 ) Cash assumed from joint venture at consolidation — 2,009 — — 2,009 Contributions and advances to unconsolidated joint venture — (5,656 ) — — (5,656 ) Contributions to subsidiaries from corporate (160,406 ) — — 160,406 — Distributions of capital from subsidiaries 18,929 725 — (19,654 ) — Distributions of capital from unconsolidated joint ventures — 7,405 — — 7,405 Net cash (used in) provided by investing activities $ (141,633 ) $ 4,343 $ — $ 140,752 $ 3,462 Financing activities: Borrowings from senior notes and credit facility 175,000 — — — 175,000 Repayments of credit facility (11,000 ) — — — (11,000 ) Borrowings from other notes payable — — 343 — 343 Repayments of other notes payable — (13,135 ) (2,501 ) — (15,636 ) Payment of debt issuance costs (1,064 ) — — — (1,064 ) Cash distributions to noncontrolling interest in subsidiary — — (725 ) — (725 ) Contributions to subsidiaries from corporate — 160,406 — (160,406 ) — Distributions to corporate from subsidiaries — (21,000 ) (725 ) 21,725 — Minimum tax withholding paid on behalf of employees for stock awards (647 ) — — — (647 ) Excess income tax provision from stock-based compensation (97 ) — — — (97 ) Net cash provided by (used in) financing activities $ 162,192 $ 126,271 $ (3,608 ) $ (138,681 ) $ 146,174 Net decrease in cash and cash equivalents (1,467 ) (14,335 ) (261 ) — (16,063 ) Cash and cash equivalents – beginning of period 18,129 27,140 605 — 45,874 Cash and cash equivalents – end of period $ 16,662 $ 12,805 $ 344 $ — $ 29,811

Organization and Summary of S37

Organization and Summary of Significant Accounting Policies - Additional Disclosures (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Home sales impairments	$ 1,300	$ 0	$ 1,300	$ 0
Number of Projects Impaired	1	0	1	0
Restricted cash	$ 88		$ 88		$ 585
Noncontrolling interest in subsidiary	91		91		101
Impairments related to investment in unconsolidated joint ventures	0	$ 0	0	$ 0
Allowance for doubtful contracts and accounts receivable	$ 0		$ 0		$ 0
Maximum [Member]
Equity Method Investment, Ownership Percentage	35.00%		35.00%

Organization and Summary of S38

Organization and Summary of Significant Accounting Policies - Major Customer Revenue (Details) - Fee Building Segment [Member] - Customer Concentration Risk [Member] - customer	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Sales Revenue [Member]
Concentration Risk [Line Items]
Concentration risk, number of customers	1	1	1	1
Concentration Risk, Percentage	97.00%	92.00%	98.00%	94.00%
Contracts and Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk, number of customers			1		1
Concentration Risk, Percentage			74.00%		87.00%

Computation of Earnings (Loss39

Computation of Earnings (Loss) Per Share - Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Numerator:
Net income attributable to The New Home Company Inc.	$ 1,517	$ 2,509	$ 2,363	$ 1,695
Denominator:
Basic weighted-average shares outstanding	20,869,429	20,709,139	20,819,288	20,654,998
Stock options and unvested restricted stock units	87,294	51,047	101,862	90,804
Diluted weighted-average shares outstanding	20,956,723	20,760,186	20,921,150	20,745,802
Basic earnings per share attributable to The New Home Company Inc.	$ 0.07	$ 0.12	$ 0.11	$ 0.08
Diluted earnings per share attributable to The New Home Company Inc.	$ 0.07	$ 0.12	$ 0.11	$ 0.08
Antidilutive stock options and unvested restricted stock units not included in diluted earnings (loss) per share	22,077	888,953	846,725	867,272

Contracts and Accounts Receiv40

Contracts and Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Contracts Receivable:
Costs incurred on fee building projects	$ 99,825	$ 178,103
Estimated earnings	2,973	8,404
Contracts receivable, before collections	102,798	186,507
Less: amounts collected during the period	(89,321)	(162,203)
Total contracts receivable	13,477	24,304
Billed	0	0
Unbilled	13,477	24,304
Other receivables
Escrow receivables	4,721	3,385
Other receivables	123	144
Contracts and accounts receivable	18,321	27,833
Accounts payable related to costs incurred under fee building contracts	$ 12,100	$ 22,800

Real Estate Inventories and C41

Real Estate Inventories and Capitalized Interest (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Deposits and pre-acquisition costs	$ 45,480	$ 38,723
Land held and land under development	107,998	98,596
Homes completed or under construction	179,885	93,628
Model homes	32,037	55,981
Real estate inventories	365,400	286,928
Deposits and pre-acquisition costs, refundable	$ 200	$ 4,100

Real Estate Inventories and C42

Real Estate Inventories and Capitalized Interest - Interest Incurred, Capitalized, and Expensed (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Real Estate [Abstract]
Interest incurred	$ 6,401	$ 1,689	$ 8,437	$ 2,970
Interest capitalized to inventory	(5,878)	(1,689)	(7,750)	(2,970)
Interest Capitalized to Investments in Unconsolidated Joint Ventures	(523)	0	(687)	0
Interest expense	0	0	0	0
Capitalized Interest [Roll Forward]
Capitalized interest in beginning inventory	6,663	4,823	6,342	4,190
Interest capitalized as a cost of inventory	5,878	1,689	7,750	2,970
Previously capitalized interest included in cost of sales	(1,720)	(1,063)	(3,271)	(1,711)
Capitalized interest in ending inventory	10,821	5,449	10,821	5,449
Capitalized Interest in Beginning Investments in Unconsolidated Joint Ventures	164	0	0	0
Interest Capitalized to Investments in Unconsolidated Joint Ventures	523	0	687	0
Capitalized Interest in Ending Investments in Unconsolidated Joint Ventures	687	0	687	0
Capitalized Interest in Ending Inventory and Investments in Unconsolidated Joint Ventures	$ 11,508	$ 5,449	$ 11,508	$ 5,449
Capitalized Interest as a Percentage of Inventory	3.00%	1.40%	3.00%	1.40%
Interest included in cost of sales as a percentage of home sales revenue	1.80%	1.30%	2.00%	1.40%
Capitalized Interest As A Percentage Of Investments In And Advances to Unconsolidated Joint Ventures	1.20%	0.00%	1.20%	0.00%

Real Estate Inventories and C43

Real Estate Inventories and Capitalized Interest Inventory Impairments (Details) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
Inventory Impairments [Abstract]
Home sales impairments		$ 1,300	$ 0	$ 1,300	$ 0
Impairment of Real Estate		1,300	0	1,300	0
Remaining Carrying Value of Inventory Impaired		$ 12,550	$ 0	$ 12,550	$ 0
Number of Projects Impaired		1	0	1	0
Number of Projects Reviewed for Impairment	[1]	25	23	26	23
[1]	(1) Represents the peak number of real estate projects that we had during each respective period. The number of projects outstanding at the end of each periodmay be less than the number of projects listed herein.

Investments in and advances t44

Investments in and advances to unconsolidated joint ventures - Additional Disclosures (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)investment	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)investment	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)investment
Schedule of Equity Method Investments [Line Items]
Number of unconsolidated joint ventures with ownership interests | investment	12		12		13
Advances to Affiliate	$ 6,000		$ 6,000		$ 4,000
Debt Instrument, Interest Rate, Stated Percentage	7.25%		7.25%
Management fee revenue, unconsolidated joint ventures	$ 1,217	$ 2,537	$ 2,431	$ 4,712
Equity in net income of unconsolidated joint ventures	$ 201	3,947	$ 507	$ 3,940
Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	5.00%		5.00%
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	35.00%		35.00%
Gain on Fair Value Remeasurement [Member]
Schedule of Equity Method Investments [Line Items]
Equity in net income of unconsolidated joint ventures	$ 100	500
Gain on Joint Venture Closeout [Member] [Member]
Schedule of Equity Method Investments [Line Items]
Equity in net income of unconsolidated joint ventures	$ 300	$ 1,100
Interest Income on Note to Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	10.00%		10.00%

Investments in and advances t45

Investments in and advances to unconsolidated joint ventures - Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Cash and cash equivalents	$ 31,304	$ 33,683
Restricted cash	16,176	8,374
Real estate inventories	407,239	386,487
Other assets	1,922	1,664
Total assets	456,641	430,208
Accounts payable and accrued liabilities	28,109	28,706
Notes Payable	106,111	97,664
Liabilities	134,220	126,370
The Company's equity	49,226	46,857
Other partners' equity	273,195	256,981
Total equity	322,421	303,838
Total liabilities and equity	$ 456,641	$ 430,208
Ratio of indebtedness to capital of equity method investments	24.80%	24.30%
Ratio of indebtedness to equity	32.90%	32.10%

Investments in and advances t46

Investments in and advances to unconsolidated joint ventures - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Schedule of Equity Method Investments [Line Items]
Revenues	$ 35,171	$ 70,104	$ 61,791	$ 112,061
Cost of Sales and Expenses	35,825	59,909	63,309	99,725
Net (loss) income of unconsolidated joint ventures	(654)	10,195	(1,518)	12,336
Equity in net income of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations	$ 201	$ 3,947	$ 507	$ 3,940

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Other Assets [Abstract]
Capitalized selling and marketing costs	[1]	$ 11,878		$ 11,878		$ 10,101
Deferred tax asset, net		8,488		8,488		8,434
Property, Plant and Equipment, Net		716		716		857
Prepaid Expense		2,834		2,834		1,907
Total other assets		23,916		23,916		$ 21,299
Capitalized Sales and Marketing Amortized		$ 2,100	$ 1,600	$ 3,200	$ 2,400
[1]	(1) The Company amortized $2.1 million, $3.2 million, $1.6 million, and $2.4 million of capitalized selling and marketing project costs to selling and marketing expenses during the three and six months ended June 30, 2017 and 2016, respectively.

Accrued Expenses and Other Li48

Accrued Expenses and Other Liabilities - Schedule of Accrued Liabilities and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Payables and Accruals [Abstract]
Warranty reserve	$ 5,399	$ 4,931	$ 5,205
Accrued compensation and benefits	3,181	6,786
Accrued interest	6,872	648
Completion Reserve	1,471	1,355
Income taxes payable	0	7,147
Deferred profit from unconsolidated joint ventures	460	957
Other accrued expenses	2,090	1,594
Total accrued expenses and other liabilities	$ 19,473	$ 23,418

Accrued Expenses and Other Li49

Accrued Expenses and Other Liabilities - Changes in Warranty Accrual (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning warranty liability			$ 4,931
Ending warranty liability	$ 5,399	$ 5,205	5,399	$ 5,205
Homebuilding Segment [Member]
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning warranty liability	4,678	4,057	4,608	3,846
Warranty provision	331	493	602	805
Warranty provision assumed from joint venture at consolidation	358	469	358	469
Warranty payments	(291)	(145)	(492)	(246)
Ending warranty liability	5,076	4,874	5,076	4,874
Fee Building Segment [Member]
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning warranty liability	323	332	323	335
Warranty provision	0	0	0	0
Warranty payments	0	(1)	0	(4)
Ending warranty liability	$ 323	$ 331	$ 323	$ 331

Senior Notes and Unsecured Re50

Senior Notes and Unsecured Revolving Credit Facility - Schedule of Notes Payable (Details) - USD ($) $ in Thousands	Jun. 30, 2017		Dec. 31, 2016
Debt Instrument [Line Items]
7.25% Senior Notes due 2022, net	$ 318,121	[1]	$ 0
Senior unsecured revolving credit facility	0		118,000
Total Notes Payable	$ 318,121		$ 118,000
[1]	(1) The carrying value for the Senior Notes, as presented, is net of the unamortized discount of $2.5 million, unamortized premium of $2.0 million, and $6.4 million of debt issuance costs. The unamortized discount, unamortized premium and debt issuance costs are not factored into the estimated fair value.

Senior Notes and Unsecured Re51

Senior Notes and Unsecured Revolving Credit Facility - Additional Disclosures (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	$ 2,500
Debt Instrument, Unamortized Premium	2,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	6,400
Unsecured revolving credit facility	0	$ 118,000
Long-term Debt	$ 318,121	$ 118,000
Interest rate	7.25%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 260,000
Interest rate at period end	3.72%
Revolving Credit Facility [Member] | Minimum [Member] | Unsecured Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Revolving Credit Facility [Member] | Maximum [Member] | Unsecured Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	3.00%
Accordion Feature Maximum Borrowing Capacity [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 350,000
Sr Notes Due 2022 [Member]
Debt Instrument [Line Items]
Interest rate at period end	7.50%
Face value of note	$ 250,000
Percent of Debt Instrument Par Value Issued	98.96%
Sr Notes Due 2022 Tack-on [Member]
Debt Instrument [Line Items]
Interest rate at period end	6.40%
Face value of note	$ 75,000
Percent of Debt Instrument Par Value Issued	102.75%
Consolidated Net Income [Member]
Debt Instrument [Line Items]
Basket Limitation	0.50
Net Cash Proceeds [Member]
Debt Instrument [Line Items]
Basket Limitation	1
Investments in Joint Ventures and Other Investments [Member]
Debt Instrument [Line Items]
Basket Limitation	0.15
General Basket [Member]
Debt Instrument [Line Items]
Basket Limitation	15,000,000

Fair Value Disclosures (Details

Fair Value Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Unamortized Discount	$ 2,500		$ 2,500
Debt Instrument, Unamortized Premium	2,000		2,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	6,400		6,400
Home sales impairments	1,300	$ 0	1,300	$ 0
Remaining Carrying Value of Inventory Impaired	$ 12,550	$ 0	$ 12,550	$ 0

Fair Value Disclosures Fair V53

Fair Value Disclosures Fair Value Table (Details) - USD ($) $ in Thousands	Jun. 30, 2017		Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes, net	$ 318,121	[1]	$ 0
Notes Payable, Fair Value Disclosure	$ 334,750		$ 0
[1]	(1) The carrying value for the Senior Notes, as presented, is net of the unamortized discount of $2.5 million, unamortized premium of $2.0 million, and $6.4 million of debt issuance costs. The unamortized discount, unamortized premium and debt issuance costs are not factored into the estimated fair value.

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Loss Contingencies [Line Items]
Estimated Litigation Liability	$ 0	$ 0
Surety Bond [Member]
Loss Contingencies [Line Items]
Outstanding surety bonds	47.5	44
Surety bonds work remaining to complete	15	15.7
Letter of Credit [Member]
Loss Contingencies [Line Items]
Letter of Credit Facility, Maximum Borrowing Capacity	5
Letters of Credit Outstanding, Amount	1.8
Optional Facility Increase [Member] | Letter of Credit [Member]
Loss Contingencies [Line Items]
Letter of Credit Facility, Maximum Borrowing Capacity	7.5
Corporate Joint Venture [Member] | Financial Guarantee [Member]
Loss Contingencies [Line Items]
Long-term Debt, Gross	61	56
Loans Payable [Member] | Corporate Joint Venture [Member]
Loss Contingencies [Line Items]
Related Party Transaction, Guarantor Obligations, Underlying Asset Class Guaranteed	$ 9.6	$ 8.6

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands	Jun. 29, 2015USD ($)	Jun. 30, 2017USD ($)investment	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Jun. 30, 2017USD ($)investment	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)investment	Dec. 31, 2015USD ($)
Related Party Transaction [Line Items]
Due from affiliates		$ 2,062			$ 2,062		$ 1,138
Equity Method Investments, Number | investment		12			12		13
Investment in and advances to unconsolidated joint ventures		$ 55,864			$ 55,864		$ 50,857
Due to Related Parties		0			0
Equity in net income of unconsolidated joint ventures		201	$ 3,947		507	$ 3,940
Deferred Revenue		460			460		957
Equity Method Investment, acquisition of partner's interest				$ 20,600
Advances to Affiliate		$ 6,000			$ 6,000		4,000
Debt Instrument, Interest Rate, Stated Percentage		7.25%			7.25%
General Partners' Contributed Capital		$ 4,000			$ 4,000
Profit Participation [Member]
Related Party Transaction [Line Items]
Due from affiliates							200
Profit Participation					200
Interest Income on Note to Joint Venture [Member]
Related Party Transaction [Line Items]
Due from affiliates		300			300		0
Revenue from related party		$ 100			$ 300
Debt Instrument, Interest Rate, Stated Percentage		10.00%			10.00%
Builder Fees [Member]
Related Party Transaction [Line Items]
Due from affiliates		$ 100			$ 100		100
Corporate Joint Venture [Member] | Construction-related Costs [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party		1,700	1,700		4,000	4,400
Due from affiliates		100			100		200
Corporate Joint Venture [Member] | Management Fees [Member]
Related Party Transaction [Line Items]
Due from affiliates		100			100		600
Revenue from related party		$ 1,200	2,500		$ 2,400	4,700
Related Party [Member]
Related Party Transaction [Line Items]
Equity Method Investments, Number | investment		5			5
Investment in and advances to unconsolidated joint ventures		$ 24,100			$ 24,100
The percentage of ownership of common stock entities with investments in Company’s unconsolidated joint ventures hold		10.00%			10.00%
Total lots under option contract to purchase		92			92
Total purchase price for lots under option contract		$ 16,100			$ 16,100
Non-refundable deposit related to option contract		500			500
Gain on Joint Venture Closeout [Member] [Member]
Related Party Transaction [Line Items]
Equity in net income of unconsolidated joint ventures		$ 300	1,100
Consultant Stelmar [Member] | Monthly consulting fee [Member]
Related Party Transaction [Line Items]
Transaction amount					$ 17
Board Member and 10% Beneficial Owner [Member]
Related Party Transaction [Line Items]
Equity Method Investments, Number | investment		2			2
Director [Member]
Related Party Transaction [Line Items]
Equity Method Investments, Number | investment		3			3
Related Joint Venture [Member]
Related Party Transaction [Line Items]
Investment in and advances to unconsolidated joint ventures		$ 6,200			$ 6,200
Consultant Davis [Member] | Consulting Fee [Member]
Related Party Transaction [Line Items]
Accounts Payable, Related Parties		0			0
Consultant Davis [Member] | Monthly consulting fee [Member]
Related Party Transaction [Line Items]
Transaction amount					5
Cannery Land Sale [Member]
Related Party Transaction [Line Items]
Deferred Profit Contra WIP Balance		800			800		700
Deferred Revenue		300			300		600
Joint Venture Contribution [Member]
Related Party Transaction [Line Items]
Equity in net income of unconsolidated joint ventures	$ 1,600	0			100
Deferred Revenue		200			200			$ 400
Wholly owned [Member] | TL Fab LP [Member] | Trade Payment [Member]
Related Party Transaction [Line Items]
Transaction amount		100	100		300	200
Accounts Payable, Related Parties		0			0		0
Unconsolidated Joint Ventures [Member] | TL Fab LP [Member] | Trade Payment [Member]
Related Party Transaction [Line Items]
Transaction amount		300	200		600	$ 400
Accounts Payable, Related Parties		100			$ 100		$ 0
Gain on Fair Value Remeasurement [Member]
Related Party Transaction [Line Items]
Equity in net income of unconsolidated joint ventures		$ 100	$ 500

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Disclosures (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration period	10 years
Unearned stock-based compensation expense not yet recognized, recognition period	2 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Stock Options and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned stock-based compensation expense not yet recognized | $	$ 5.4
2014 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares that may be issued under plan	1,644,875
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	32,830
2016 Incentive Plan [Member] [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares that may be issued under plan	800,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	464,928

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Common Stock Option Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Number of Shares
Options outstanding at December 31 (shares)	835,786	840,298
Options granted (shares)	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	(9,288)	0
Options forfeited (shares)	0	(4,512)
Options outstanding at June 30 (shares)	826,498	835,786
Options exercisable at June 30 (shares)	826,498	44,442
Weighted-Average Exercise Price per share
Options outstanding at December 31 (in dollars per share)	$ 11	$ 11
Options granted (in dollars per share)	0	0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	11	0
Options forfeited (in dollars per share)	0	11
Options outstanding at June 30 (in dollars per share)	11	11
Options exercisable at June 30 (in dollars per share)	$ 11	$ 11

Stock-Based Compensation - Su58

Stock-Based Compensation - Summary of Restricted Stock Units (Details) - Restricted Stock Units - $ / shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Balance outstanding at December 31 (shares)	474,989	308,386
Restricted stock units granted (shares)	343,933	409,509
Vested	(209,619)	(231,289)
Restricted stock units forfeited (shares)	(26,194)	(3,980)
Balance outstanding at June 30 (shares)	583,109	482,626
Weighted-Average Grant-Date Fair Value per Share
Balance outstanding at December 31 (in dollars per share)	$ 10.66	$ 14.20
Restricted stock units granted (in dollars per share)	10.84	10.05
Restricted stock units vested (in dollars per share)	10.76	14.22
Restricted stock units forfeited (in dollars per share)	10.82	13.68
Balance outstanding at June 30 (in dollars per share)	$ 10.72	$ 10.67

Stock-Based Compensation - Su59

Stock-Based Compensation - Summary of Source of Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 695	$ 757	$ 1,306	$ 1,742
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	0	185	11	447
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 695	$ 572	$ 1,295	$ 1,295

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Equity in net income of unconsolidated joint ventures	$ 201	$ 3,947	$ 507	$ 3,940
(Provision) benefit for income taxes	(988)	(1,495)	$ (1,512)	$ (1,253)
Federal Statutory Income Tax Rate, Percent			35.00%
Gain on Fair Value Remeasurement [Member]
Equity in net income of unconsolidated joint ventures	100	500
(Provision) benefit for income taxes			$ 600
Gain on Joint Venture Closeout [Member] [Member]
Equity in net income of unconsolidated joint ventures	$ 300	$ 1,100

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)segment	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			2
Homebuilding revenues	$ 96,929	$ 78,836	$ 166,335	$ 121,139
Fee building revenues	47,181	30,028	102,798	72,965
Revenues	144,110	108,864	269,133	194,104
Income before income taxes	2,505	3,939	3,865	2,828
Total assets	619,610		619,610		$ 419,136
Homebuilding Segment [Member]
Segment Reporting Information [Line Items]
Homebuilding revenues	96,929	78,836	166,335	121,139
Income before income taxes	1,223	2,228	892	(906)
Total assets	605,358		605,358		393,095
Fee Building Segment [Member]
Segment Reporting Information [Line Items]
Fee building revenues	47,181	30,028	102,798	72,965
Income before income taxes	1,282	$ 1,711	2,973	$ 3,734
Total assets	$ 14,252		$ 14,252		$ 26,041

Supplemental Disclosure of Ca62

Supplemental Disclosure of Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Supplemental Cash Flow Elements [Abstract]
Interest paid, net of amounts capitalized	$ 0	$ 0
Income Taxes Paid	8,750	8,150
Contribution of real estate to unconsolidated joint ventures	1,013	0
Assets assumed from unconsolidated joint venture	100	46,811
Liabilities and equity assumed from unconsolidated joint venture	$ 1,095	$ 47,197

Supplemental Guarantor Inform63

Supplemental Guarantor Information Supplemental Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2017		Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Cash and cash equivalents	$ 153,959		$ 30,496	$ 29,811	$ 45,874
Restricted cash	88		585
Contracts and accounts receivable	18,321		27,833
Intercompany Receivables	0		0
Due from affiliates	2,062		1,138
Real estate inventories	365,400		286,928
Investment in and advances to unconsolidated joint ventures	55,864		50,857
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	0		0
Other assets	23,916		21,299
Total assets	619,610		419,136
Accounts payable	34,215		33,094
Accrued expenses and other liabilities	19,473		23,418
Intercompany Payables	0		0
Due to Affiliate	0		0
Senior notes, net	318,121	[1]	0
Unsecured revolving credit facility	0		118,000
Total liabilities	371,809		174,512
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	247,801		244,624	223,545	221,697
Noncontrolling interest in subsidiary	91		101
Total liabilities and equity	619,610		419,136
Stockholders' Equity Attributable to Parent	247,710		244,523
Consolidation, Eliminations [Member]
Cash and cash equivalents	0		0	0	0
Restricted cash	0		0
Contracts and accounts receivable	(1,367)		(1,971)
Intercompany Receivables	(91,737)		(73,972)
Due from affiliates	0		0
Real estate inventories	0		0
Investment in and advances to unconsolidated joint ventures	0		0
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	(345,376)		(268,411)
Other assets	0		0
Total assets	(438,480)		(344,354)
Accounts payable	0		0
Accrued expenses and other liabilities	(1,358)		(1,942)
Intercompany Payables	(91,737)		(73,972)
Due to Affiliate	(9)		(29)
Senior notes, net	0
Unsecured revolving credit facility			0
Total liabilities	(93,104)		(75,943)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(345,376)		(268,411)
Noncontrolling interest in subsidiary	0		0
Total liabilities and equity	(438,480)		(344,354)
Stockholders' Equity Attributable to Parent	(345,376)		(268,411)
Non-Guarantor Subsidiaries [Member]
Cash and cash equivalents	222		269	344	605
Restricted cash	0		0
Contracts and accounts receivable	7		0
Intercompany Receivables	0		0
Due from affiliates	0		0
Real estate inventories	0		0
Investment in and advances to unconsolidated joint ventures	0		0
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	0		0
Other assets	0		0
Total assets	229		269
Accounts payable	0		27
Accrued expenses and other liabilities	126		108
Intercompany Payables	0		0
Due to Affiliate	0		0
Senior notes, net	0
Unsecured revolving credit facility			0
Total liabilities	126		135
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	103		134
Noncontrolling interest in subsidiary	91		101
Total liabilities and equity	229		269
Stockholders' Equity Attributable to Parent	12		33
Guarantor Subsidiaries [Member]
Cash and cash equivalents	33,180		13,842	12,805	27,140
Restricted cash	88		585
Contracts and accounts receivable	19,667		29,774
Intercompany Receivables	0		0
Due from affiliates	2,062		1,138
Real estate inventories	365,400		286,928
Investment in and advances to unconsolidated joint ventures	55,864		50,857
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	0		0
Other assets	8,080		11,918
Total assets	484,341		395,042
Accounts payable	34,105		32,900
Accrued expenses and other liabilities	13,126		19,763
Intercompany Payables	91,737		73,972
Due to Affiliate	9		29
Senior notes, net	0
Unsecured revolving credit facility			0
Total liabilities	138,977		126,664
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	345,364		268,378
Noncontrolling interest in subsidiary	0		0
Total liabilities and equity	484,341		395,042
Stockholders' Equity Attributable to Parent	345,364		268,378
Parent Company [Member]
Cash and cash equivalents	120,557		16,385	$ 16,662	$ 18,129
Restricted cash	0		0
Contracts and accounts receivable	14		30
Intercompany Receivables	91,737		73,972
Due from affiliates	0		0
Real estate inventories	0		0
Investment in and advances to unconsolidated joint ventures	0		0
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	345,376		268,411
Other assets	15,836		9,381
Total assets	573,520		368,179
Accounts payable	110		167
Accrued expenses and other liabilities	7,579		5,489
Intercompany Payables	0		0
Due to Affiliate	0		0
Senior notes, net	318,121
Unsecured revolving credit facility			118,000
Total liabilities	325,810		123,656
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	247,710		244,523
Noncontrolling interest in subsidiary	0		0
Total liabilities and equity	573,520		368,179
Stockholders' Equity Attributable to Parent	$ 247,710		$ 244,523
[1]	(1) The carrying value for the Senior Notes, as presented, is net of the unamortized discount of $2.5 million, unamortized premium of $2.0 million, and $6.4 million of debt issuance costs. The unamortized discount, unamortized premium and debt issuance costs are not factored into the estimated fair value.

Supplemental Guarantor Inform64

Supplemental Guarantor Information Supplemental Condensed Consolidating Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Home sales	$ 96,929	$ 78,836	$ 166,335	$ 121,139
Fee building revenues	47,181	30,028	102,798	72,965
Revenue, Net	144,110	108,864	269,133	194,104
Home sales	82,488	69,390	142,553	106,060
Home sales impairments	1,300	0	1,300	0
Fee building	45,899	28,317	99,825	69,231
Cost of Sales	129,687	97,707	243,678	175,291
Home sales	13,141	9,446	22,482	15,079
Gross Profit Fee Building	1,282	1,711	2,973	3,734
Gross Profit	14,423	11,157	25,455	18,813
Selling and marketing expenses	(6,376)	(5,046)	(11,377)	(8,522)
General and administrative expenses	(5,595)	(5,833)	(10,685)	(11,008)
Equity in net income of unconsolidated joint ventures	201	3,947	507	3,940
Income (Loss) from Subsidiaries, before Tax	0	0	0	0
Other income (expense), net	(148)	(286)	(35)	(395)
Income before income taxes	2,505	3,939	3,865	2,828
Provision for income taxes	(988)	(1,495)	(1,512)	(1,253)
Net income	1,517	2,444	2,353	1,575
Net loss attributable to noncontrolling interest	0	65	10	120
Net Income (Loss) Attributable to Parent	1,517	2,509	2,363	1,695
Guarantor Subsidiaries [Member]
Home sales	96,929	77,486	166,335	115,982
Fee building revenues	47,181	30,068	102,798	73,120
Revenue, Net	144,110	107,554	269,133	189,102
Home sales	82,488	68,152	142,522	101,422
Home sales impairments	1,300		1,300
Fee building	45,304	27,821	98,740	68,265
Cost of Sales	129,092	95,973	242,562	169,687
Home sales	13,141	9,334	22,513	14,560
Gross Profit Fee Building	1,877	2,247	4,058	4,855
Gross Profit	15,018	11,581	26,571	19,415
Selling and marketing expenses	(6,376)	(4,820)	(11,377)	(7,838)
General and administrative expenses	(5,220)	(2,550)	(9,531)	(4,542)
Equity in net income of unconsolidated joint ventures	201	3,947	507	3,940
Income (Loss) from Subsidiaries, before Tax	0	0	0	0
Other income (expense), net	(174)	(229)	(79)	(369)
Income before income taxes	3,449	7,929	6,091	10,606
Provision for income taxes	(1,427)	(2,997)	(2,376)	(3,971)
Net income	2,022	4,932	3,715	6,635
Net loss attributable to noncontrolling interest	0	0	0	0
Net Income (Loss) Attributable to Parent	2,022	4,932	3,715	6,635
Non-Guarantor Subsidiaries [Member]
Home sales	0	1,350	0	5,157
Fee building revenues	0	0	0	0
Revenue, Net	0	1,350	0	5,157
Home sales	0	1,238	31	4,638
Home sales impairments	0		0
Fee building	0	0	0	0
Cost of Sales	0	1,238	31	4,638
Home sales	0	112	(31)	519
Gross Profit Fee Building	0	0	0	0
Gross Profit	0	112	(31)	519
Selling and marketing expenses	0	(226)	0	(684)
General and administrative expenses	0	0	0	0
Equity in net income of unconsolidated joint ventures	0	0	0	0
Income (Loss) from Subsidiaries, before Tax	0	0	0	0
Other income (expense), net	0	(40)	0	(142)
Income before income taxes	0	(154)	(31)	(307)
Provision for income taxes	0	0	0	0
Net income	0	(154)	(31)	(307)
Net loss attributable to noncontrolling interest	0	65	10	120
Net Income (Loss) Attributable to Parent	0	(89)	(21)	(187)
Parent Company [Member]
Home sales	0	0	0	0
Fee building revenues	0	0	0	0
Revenue, Net	0	0	0	0
Home sales	0	0	0	0
Home sales impairments	0		0
Fee building	595	496	1,085	966
Cost of Sales	595	496	1,085	966
Home sales	0	0	0	0
Gross Profit Fee Building	(595)	(496)	(1,085)	(966)
Gross Profit	(595)	(496)	(1,085)	(966)
Selling and marketing expenses	0	0	0	0
General and administrative expenses	(375)	(3,283)	(1,154)	(6,466)
Equity in net income of unconsolidated joint ventures	0	0	0	0
Income (Loss) from Subsidiaries, before Tax	2,022	4,843	3,694	6,448
Other income (expense), net	26	(57)	44	(39)
Income before income taxes	1,078	1,007	1,499	(1,023)
Provision for income taxes	439	1,502	864	2,718
Net income	1,517	2,509	2,363	1,695
Net loss attributable to noncontrolling interest	0	0	0	0
Net Income (Loss) Attributable to Parent	1,517	2,509	2,363	1,695
Consolidation, Eliminations [Member]
Home sales	0	0	0	0
Fee building revenues	0	(40)	0	(155)
Revenue, Net	0	(40)	0	(155)
Home sales	0	0	0	0
Home sales impairments	0		0
Fee building	0	0	0	0
Cost of Sales	0	0	0	0
Home sales	0	0	0	0
Gross Profit Fee Building	0	(40)	0	(155)
Gross Profit	0	(40)	0	(155)
Selling and marketing expenses	0	0	0	0
General and administrative expenses	0	0	0	0
Equity in net income of unconsolidated joint ventures	0	0	0	0
Income (Loss) from Subsidiaries, before Tax	(2,022)	(4,843)	(3,694)	(6,448)
Other income (expense), net	0	40	0	155
Income before income taxes	(2,022)	(4,843)	(3,694)	(6,448)
Provision for income taxes	0	0	0	0
Net income	(2,022)	(4,843)	(3,694)	(6,448)
Net loss attributable to noncontrolling interest	0	0	0	0
Net Income (Loss) Attributable to Parent	$ (2,022)	$ (4,843)	$ (3,694)	$ (6,448)

Supplemental Guarantor Inform65

Supplemental Guarantor Information Supplemental Condensed Consolidated Statement of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Net Cash Provided by (Used in) Operating Activities	$ (71,411)	$ (165,699)
Purchases of property and equipment	(95)	(296)
Cash assumed from joint venture at consolidation	995	2,009
Contributions and advances to unconsolidated joint ventures	(8,517)	(5,656)
Contributions to Subsidiaries from Corporate	0	0
Distributions of Equity from Subsidiaries	0	0
Distributions of capital from unconsolidated joint ventures	2,948	7,405
Net Cash Provided by (Used in) Investing Activities	(4,669)	3,462
Proceeds from senior notes	324,465	0
Cash distribution to noncontrolling interest in subsidiary	0	(725)
Borrowings from credit facility	72,000	175,000
Borrowings from other notes payable	0	343
Repayments of other notes payable	0	(15,636)
Repayments of credit facility	(190,000)	(11,000)
Payments of Debt Issuance Costs	(6,440)	(1,064)
Contributions to subsidiaries from corporate	0	0
Distributions to Corporate from Subsidiaries	0	0
Minimum tax withholding paid on behalf of employees for stock awards	(584)	(647)
Excess income tax provision from stock-based compensation	0	(97)
Proceeds from Stock Options Exercised	102	0
Net Cash Provided by (Used in) Financing Activities	199,543	146,174
Cash and Cash Equivalents, Period Increase (Decrease)	123,463	(16,063)
Cash and cash equivalents	153,959	29,811	$ 30,496	$ 45,874
Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities	(49,302)	(144,949)
Purchases of property and equipment	(55)	(140)
Cash assumed from joint venture at consolidation	995	2,009
Contributions and advances to unconsolidated joint ventures	(8,517)	(5,656)
Contributions to Subsidiaries from Corporate	0	0
Distributions of Equity from Subsidiaries	0	725
Distributions of capital from unconsolidated joint ventures	2,948	7,405
Net Cash Provided by (Used in) Investing Activities	(4,629)	4,343
Proceeds from senior notes	0
Cash distribution to noncontrolling interest in subsidiary		0
Borrowings from credit facility	0	0
Borrowings from other notes payable		0
Repayments of other notes payable		(13,135)
Repayments of credit facility	0	0
Payments of Debt Issuance Costs	0	0
Contributions to subsidiaries from corporate	94,035	160,406
Distributions to Corporate from Subsidiaries	(20,766)	(21,000)
Minimum tax withholding paid on behalf of employees for stock awards	0	0
Excess income tax provision from stock-based compensation		0
Proceeds from Stock Options Exercised	0
Net Cash Provided by (Used in) Financing Activities	73,269	126,271
Cash and Cash Equivalents, Period Increase (Decrease)	19,338	(14,335)
Cash and cash equivalents	33,180	12,805	13,842	27,140
Non-Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities	(47)	3,347
Purchases of property and equipment	0	0
Cash assumed from joint venture at consolidation	0	0
Contributions and advances to unconsolidated joint ventures	0	0
Contributions to Subsidiaries from Corporate	0	0
Distributions of Equity from Subsidiaries	0	0
Distributions of capital from unconsolidated joint ventures	0	0
Net Cash Provided by (Used in) Investing Activities	0	0
Proceeds from senior notes	0
Cash distribution to noncontrolling interest in subsidiary		(725)
Borrowings from credit facility	0	0
Borrowings from other notes payable		343
Repayments of other notes payable		(2,501)
Repayments of credit facility	0	0
Payments of Debt Issuance Costs	0	0
Contributions to subsidiaries from corporate	0	0
Distributions to Corporate from Subsidiaries	0	(725)
Minimum tax withholding paid on behalf of employees for stock awards	0	0
Excess income tax provision from stock-based compensation		0
Proceeds from Stock Options Exercised	0
Net Cash Provided by (Used in) Financing Activities	0	(3,608)
Cash and Cash Equivalents, Period Increase (Decrease)	(47)	(261)
Cash and cash equivalents	222	344	269	605
Parent Company [Member]
Net Cash Provided by (Used in) Operating Activities	(21,176)	(22,026)
Purchases of property and equipment	(40)	(156)
Cash assumed from joint venture at consolidation	0	0
Contributions and advances to unconsolidated joint ventures	0	0
Contributions to Subsidiaries from Corporate	(94,035)	(160,406)
Distributions of Equity from Subsidiaries	19,880	18,929
Distributions of capital from unconsolidated joint ventures	0	0
Net Cash Provided by (Used in) Investing Activities	(74,195)	(141,633)
Proceeds from senior notes	324,465
Cash distribution to noncontrolling interest in subsidiary		0
Borrowings from credit facility	72,000	175,000
Borrowings from other notes payable		0
Repayments of other notes payable		0
Repayments of credit facility	(190,000)	(11,000)
Payments of Debt Issuance Costs	(6,440)	(1,064)
Contributions to subsidiaries from corporate	0	0
Distributions to Corporate from Subsidiaries	0	0
Minimum tax withholding paid on behalf of employees for stock awards	(584)	(647)
Excess income tax provision from stock-based compensation		(97)
Proceeds from Stock Options Exercised	102
Net Cash Provided by (Used in) Financing Activities	199,543	162,192
Cash and Cash Equivalents, Period Increase (Decrease)	104,172	(1,467)
Cash and cash equivalents	120,557	16,662	16,385	18,129
Consolidation, Eliminations [Member]
Net Cash Provided by (Used in) Operating Activities	(886)	(2,071)
Purchases of property and equipment	0	0
Cash assumed from joint venture at consolidation	0	0
Contributions and advances to unconsolidated joint ventures	0	0
Contributions to Subsidiaries from Corporate	94,035	160,406
Distributions of Equity from Subsidiaries	(19,880)	(19,654)
Distributions of capital from unconsolidated joint ventures	0	0
Net Cash Provided by (Used in) Investing Activities	74,155	140,752
Proceeds from senior notes	0
Cash distribution to noncontrolling interest in subsidiary		0
Borrowings from credit facility	0	0
Borrowings from other notes payable		0
Repayments of other notes payable		0
Repayments of credit facility	0	0
Payments of Debt Issuance Costs	0	0
Contributions to subsidiaries from corporate	(94,035)	(160,406)
Distributions to Corporate from Subsidiaries	20,766	21,725
Minimum tax withholding paid on behalf of employees for stock awards	0	0
Excess income tax provision from stock-based compensation		0
Proceeds from Stock Options Exercised	0
Net Cash Provided by (Used in) Financing Activities	(73,269)	(138,681)
Cash and Cash Equivalents, Period Increase (Decrease)	0	0
Cash and cash equivalents	$ 0	$ 0	$ 0	$ 0

Supplemental Guarantor Inform66

Supplemental Guarantor Information Supplemental Guarantor Info (Details)	Jun. 30, 2017
Supplemental Guarantor Info [Abstract]
Interest rate	7.25%