New Home (NWHM) 10-K 15 Feb 19 2018 FY Annual report Financial data

DEI Document

DEI Document - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 13, 2019	Jun. 29, 2018
Entity [Abstract]
Entity Public Float			$ 160,926,637
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-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		19,906,991
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 42,273	$ 123,546
Restricted cash	269	424
Contracts and accounts receivable	18,265	23,224
Due from affiliates	1,218	1,060
Real estate inventories	566,290	416,143
Investment in and advances to unconsolidated joint ventures	34,330	55,824
Other assets	33,452	24,291
Total assets	696,097	644,512
Liabilities and equity
Accounts payable	39,391	23,722
Accrued expenses and other liabilities	29,028	38,054
Unsecured revolving credit facility	67,500	0
Senior notes, net	320,148	318,656
Total liabilities	456,067	380,432
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, 20,058,904 and 20,876,837, shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively	201	209
Additional paid-in capital	193,132	199,474
Retained earnings	46,621	64,307
Total stockholders' equity	239,954	263,990
Non-controlling interest in subsidiary	76	90
Total equity	240,030	264,080
Total liabilities and equity	$ 696,097	$ 644,512

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares outstanding	$ 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	20,058,904	20,876,837
Common stock, shares outstanding	20,058,904	20,876,837

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2018		Sep. 30, 2018		Jun. 30, 2018		Mar. 31, 2018		Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018		Dec. 31, 2017	Dec. 31, 2016
Revenues:
Home sales	$ 187,258		$ 119,874		$ 117,460		$ 79,437		$ 279,885	$ 114,622	$ 96,929	$ 69,406	$ 504,029		$ 560,842	$ 507,949
Fee building, including management fees from unconsolidated joint ventures of $3,385, $4,945 and $8,202, respectively	42,408		39,240		38,095		43,794		44,217	43,309	47,181	55,617	163,537		190,324	186,507
Revenues													667,566		751,166	694,456
Cost of Sales:
Home sales	162,034		102,124		102,678		69,694		234,668	95,992	82,488	60,065	436,530		473,213	433,559
Home sales impairments	10,000		0		0		0		900	0	1,300	0	10,000		2,200	2,350
Land sale impairment													0		0	1,150
Fee building	41,275		38,124		37,038		42,699		43,194	41,808	45,899	53,926	159,136		184,827	178,103
Cost of Sales													605,666		660,240	615,162
Gross Margin:
Gross Profit Home Sales	15,224		17,750		14,782		9,743		44,317	18,630	13,141	9,341	57,499		85,429	72,040
Gross Profit Land Sales													0		0	(1,150)
Gross Profit Fee Building	1,133		1,116		1,057		1,095		1,023	1,501	1,282	1,691	4,401		5,497	8,404
Gross Margin													61,900		90,926	79,294
Expenses:
Selling and marketing expenses													(36,065)		(32,702)	(26,744)
General and administrative expenses													(25,966)		(26,330)	(25,882)
Equity in net income (loss) of unconsolidated joint ventures													(19,653)		866	7,691
Other income (expense), net													(521)		(229)	(409)
Pretax income (loss)	(22,376)		3,400		182		(1,511)		21,692	6,974	2,505	1,360	(20,305)		32,531	33,950
(Provision) benefit for income taxes													6,075		(15,390)	(13,024)
Net income (loss)													(14,230)		17,141	20,926
Net loss attributable to non-controlling interest													14		11	96
Net income (loss) attributable to The New Home Company Inc.	$ (16,150)		$ 2,459		$ 115		$ (640)		$ 10,471	$ 4,318	$ 1,517	$ 846	$ (14,216)		$ 17,152	$ 21,022
Earnings (loss) per share attributable to The New Home Company Inc.:
Earnings Per Share, Basic	$ (0.80)	[1]	$ 0.12	[1]	$ 0.01	[1]	$ (0.03)	[1]	$ 0.50	$ 0.21	$ 0.07	$ 0.04	$ (0.69)	[1]	$ 0.82	$ 1.02
Earnings Per Share, Diluted	$ (0.80)		$ 0.12	[1]	$ 0.01	[1]	$ (0.03)	[1]	$ 0.50	$ 0.21	$ 0.07	$ 0.04	$ (0.69)	[1]	$ 0.82	$ 1.01
Weighted average number of shares outstanding
Basic (in shares)													20,703,967		20,849,736	20,685,386
Diluted (in shares)													20,703,967		20,995,498	20,791,445
[1]	(1)Some amounts do not add to our full year results presented on our consolidated statement of operations due to rounding differences in quarterly and annual weighted average share calculations

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Management fee revenue, unconsolidated joint ventures	$ 3,385	$ 4,945	$ 8,202

Consolidated Statement of Equit

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) Attributable to The New Home Company Inc.	21,022
Net income (loss)	20,926	21,022			21,022	(96)
Noncontrolling interest distribution	(725)					(725)
Stock-based compensation expense	3,471	3,471		3,471
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans, shares			(62,597)
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans	(648)	(648)		(648)
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			231,633
Ending balance at Dec. 31, 2016	244,624	244,523	$ 207	197,161	47,155	101
Ending balance, shares at Dec. 31, 2016			20,712,166
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss) Attributable to The New Home Company Inc.	17,152
Net income (loss)	17,141	17,152			17,152	(11)
Stock-based compensation expense	2,803	2,803		2,803
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans, shares			(56,092)
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans	(590)	(590)		(590)
Shares issued through stock plans	102	102	$ 2	100
Shares issued through stock plans, shares			220,763
Ending balance at Dec. 31, 2017	264,080	263,990	$ 209	199,474	64,307	90
Ending balance, shares at Dec. 31, 2017			20,876,837
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASC 606 and ASU 2018-07	(3,365)	(3,365)		(18)	(3,347)
Net Income (Loss) Attributable to The New Home Company Inc.	(14,216)
Net income (loss)	(14,230)	(14,216)				(14)
Stock-based compensation expense	3,090	3,090		3,090
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans, shares			(86,692)
Shares net settled with the Company to satisfy employee personal income tax liabilities resulting from share based compensation plans	(982)	(982)		(982)
Shares issued through stock plans	0	0	$ 2	(2)
Shares issued through stock plans, shares			271,875
Repurchase of common stock	(8,563)	(8,563)	$ (10)	(8,430)	(123)
Repurchase of common stock, shares			(1,003,116)
Ending balance at Dec. 31, 2018	$ 240,030	$ 239,954	$ 201	$ 193,132	$ 46,621	$ 76
Ending balance, shares at Dec. 31, 2018			20,058,904

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income (loss)	$ (14,230)	$ 17,141	$ 20,926
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Deferred taxes	(7,620)	(1,073)	(918)
Noncash deferred tax asset charge	0	3,190	0
Amortization of stock-based compensation	3,090	2,803	3,471
Excess income tax provision from stock-based compensation	0	0	97
Inventory impairments	10,000	2,200	3,500
Abandoned project costs	206	383	580
Gain from notes payable principal reduction	0	0	(250)
Distributions of earnings from unconsolidated joint ventures	715	1,588	3,742
Equity in net income (loss) of unconsolidated joint ventures	19,653	(866)	(7,691)
Deferred profit from unconsolidated joint ventures	136	821	646
Depreciation and amortization	6,631	449	511
Net changes in operating assets and liabilities:
Contracts and accounts receivable	4,959	4,670	(3,737)
Due from affiliates	(242)	18	(344)
Real estate inventories	(157,705)	(114,930)	(71,388)
Other assets	(11,642)	(5,255)	(756)
Accounts payable	15,669	(9,546)	6,171
Accrued expenses and other liabilities	(9,305)	7,544	2,921
Due to affiliates	0	0	(293)
Net cash used in operating activities	(139,685)	(90,863)	(42,812)
Investing activities:
Purchases of property and equipment	(246)	(195)	(439)
Cash assumed from joint venture at consolidation	0	995	2,610
Contributions and advances to unconsolidated joint ventures	(15,066)	(27,479)	(15,088)
Distributions of capital and repayment of advances from unconsolidated joint ventures	15,436	15,577	15,307
Interest collected on advances to unconsolidated joint ventures	178	552	0
Net cash provided by (used in) investing activities	302	(10,550)	2,390
Financing activities:
Cash distributions to non-controlling interest in subsidiary	0	0	(725)
Borrowings from credit facility	150,000	88,000	223,050
Repayments of credit facility	(82,500)	(206,000)	(179,974)
Proceeds from senior notes	0	324,465	0
Borrowings from other notes payable	0	0	343
Repayments of other notes payable		(4,110)	(15,636)
Payment of debt issuance costs	0	(7,565)	(1,064)
Repurchase of common stock	(8,563)	0	0
Tax withholding paid on behalf of employees for stock awards	(982)	(590)	(648)
Excess income tax benefit from stock-based compensation	0	0	(97)
Proceeds from exercise of stock options	0	102	0
Net cash provided by financing activities	57,955	194,302	25,249
Net (decrease) increase in cash, cash equivalents and restricted cash	(81,428)	92,889	(15,173)
Cash, cash equivalents and restricted cash – beginning of period	123,970	31,081	46,254
Cash, cash equivalents and restricted cash – end of period	$ 42,542	$ 123,970	$ 31,081

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	1. 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. The Company completed its initial public offering ("IPO") on January 30, 2014 and sold 8,984,375 shares of common stock (including 1,171,875 shares sold pursuant to the underwriters' exercise of their option to purchase additional shares from the Company) at the public offering price of $11.00 per share. In accordance with the terms of the IPO, with net proceeds received from the underwriters' exercise of their option to purchase additional shares, the Company repurchased 1,171,875 shares of its common stock. The Company received proceeds of $75.8 million , net of the underwriting discount, offering expenses and the repurchase of shares. Upon the close of the IPO, the Company had 16,448,750 common shares outstanding. On December 9, 2015, the Company completed a follow-on equity offering, issuing and selling 4,025,000 shares of common stock (including 525,000 shares sold pursuant to the underwriter's exercise of their option to purchase additional shares from the Company) at a public offering price of $12.50 per share. The Company received proceeds of $47.3 million , net of the underwriting discount and offering expenses. After the closing of the follow-on offering, the Company had 20,541,546 common shares outstanding. Based on our public float of $160.9 million at June 29, 2018, we are a smaller reporting company and are subject to reduced disclosure obligations in our periodic reports and proxy statements. Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts have been eliminated upon consolidation. The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") as contained within the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC"). Unless the context otherwise requires, the terms "we", "us", "our" and "the Company" refer to the Company and its wholly owned subsidiaries, on a consolidated basis. Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying consolidated financial statements and notes. Accordingly, actual results could differ materially from these estimates. Reclassifications Certain items in the prior year consolidated financial statements have been reclassified to conform with current year presentation. These reclassifications have not changed the results of operations of prior periods. On January 1, 2018, the Company adopted Accounting Standards Update ("ASU") No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash ("ASU 2016-18") under the full retrospective method. As a result, the Company no longer presents transfers between cash and restricted cash in the consolidated statements of cash flows. Instead, restricted cash is included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the consolidated statements of cash flows. The adoption of ASU 2016-18 also caused a reclassification on the statement of cash flows for cash assumed from joint venture at consolidation for the year ended December 31, 2016. For additional detail on restricted cash, please see Restricted Cash below. Segment Reporting 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 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 $0.3 million and $0.4 million as of December 31, 2018 and 2017 , respectively, is held in accounts for payments of subcontractor costs incurred in connection with various fee building projects. The table below shows the line items and amounts of cash and cash equivalents and restricted cash as reported within the Company's consolidated balance sheets for each period shown that sum to the total of the same such amounts at the end of the periods shown in the accompanying consolidated statements of cash flows. Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Cash and cash equivalents $ 42,273 $ 123,546 $ 30,496 Restricted cash 269 424 585 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 42,542 $ 123,970 $ 31,081 Real Estate Inventories and Cost of Sales We capitalize pre-acquisition, land, development and other allocated costs, including interest, property taxes and indirect construction costs. Pre-acquisition costs, including nonrefundable land deposits, are expensed to 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 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 future undiscounted cash flows of the project are more or less than the asset’s carrying value. If the estimated future undiscounted cash flows exceed the asset’s carrying value, no impairment adjustment is required. However, if the estimated future undiscounted cash flows are less than the asset’s carrying value then the asset is impaired. If the asset is deemed impaired, it is written down to its fair value in accordance with ASC 820, Fair Value Measurements and Disclosures ("ASC 820"). When estimating undiscounted future cash flows of a project, we make various assumptions, including: (i) expected sales prices and sales incentives to be offered, including the number of homes available, pricing and incentives being offered by us or other builders in other projects, and future sales price adjustments based on market and economic trends; (ii) expected sales pace and cancellation rates based on local housing market conditions, competition and historical trends; (iii) costs expended to date and expected to be incurred including, but not 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 and the level of time sensitive costs (such as indirect construction, overhead and carrying 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 change over time. If a real estate asset is deemed impaired, the impairment is calculated by determining the amount the asset's carrying value exceeds its fair value in accordance with ASC 820. We calculate the fair value of real estate inventories considering a land residual value analysis and a discounted cash flow analysis. 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. Some of the critical assumptions involved with measuring the asset's fair value include estimating future revenues, sales absorption rates, development and construction costs, and other applicable project 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 years ended December 31, 2018 , 2017 and 2016 , we recorded inventory impairments of $10.0 million , $2.2 million and $3.5 million , respectively. For additional detail regarding these impairment charges, 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. In instances where the Company purchases land from an unconsolidated joint venture, the pro rata share of interest capitalized to investment in unconsolidated joint ventures is added to the basis of the land acquired and recognized as a cost of sale upon the delivery of the related land to a third-party buyer. 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 Effective January 1, 2018, we adopted the requirements of ASU 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASC 606") under the modified retrospective method. For additional detail on the new standard and the impact to our consolidated financial statements, refer to "Recently Issued Accounting Standards" below. Under ASC 606, we recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To do this, the Company performs the following five steps as outlined in ASC 606: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. Home Sales and Profit Recognition In accordance with ASC 606, home sales revenue is recognized when our performance obligations within the underlying sales contracts are fulfilled. We consider our obligations fulfilled when closing conditions are complete, title has transferred to the homebuyer, and collection of the purchase price is reasonably assured. Sales incentives are recorded as 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 related revenue and profit are deferred for recognition in future periods. For periods prior to January 1, 2018, the company recognized home sales and other real estate sales revenue in accordance with ASC 360. Under ASC 360, revenue from home sales and other real estate sales was recorded and a profit was recognized when the sales process was complete under the full accrual method. The sales process was considered complete for home sales and other real estate sales when all conditions of escrow were met, including delivery of the home or other real estate asset, title passes, appropriate consideration is received and collection of associated receivables, if any, was reasonably assured. Fee Building The Company enters into fee building agreements to provide services whereby it builds homes on behalf of third-party property owners. The 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 third-party property owners for all direct and indirect costs plus a fee. The fee is typically a per-unit fixed fee or based on a percentage of the cost or home sales revenue of the project, depending on the terms of the agreement with the third-party property owner. For these types of contracts, the Company recognizes revenue based on the actual total costs it has incurred plus the applicable fee. In accordance with ASC 606 for periods after January 1, 2018 and ASC 605, Revenue Recognition ("ASC 605") for prior periods, we apply the percentage-of-completion method, using the cost-to-cost approach, as it most accurately measures the progress of our efforts in satisfying our obligations within the fee building agreements. Under this approach, revenue is earned in proportion to total costs incurred divided by total costs expected to be incurred. In the course of providing fee building 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 GAAP, are included in the Company’s revenues and cost of sales. The Company also provides construction management and coordination services and sales and marketing services as part of agreements with third parties and its unconsolidated joint ventures. In certain contracts, the Company also provides project management and administrative services. For most services provided, the Company fulfills its related obligations as time-based measures, according to the input method guidance described in ASC 606. Accordingly, revenue is recognized on a straight-line basis as the Company's efforts are expended evenly throughout the performance period. The Company may also have an obligation to manage the home or lot sales process as part of providing sales and marketing services. This obligation is considered fulfilled when related homes or lots close escrow, as these events represent milestones reached according to the output method guidance described in ASC 606. Accordingly, revenue is recognized in the period that the corresponding lots or homes close escrow. Costs associated with these services are recognized as incurred. Prior to the adoption of ASC 606, the Company recognized revenues from these services in accordance with ASC 605 under a proportional performance method or completed performance method. Under ASC 605, revenue was earned as services were provided in proportion to total services expected to be provided to the customer or on a straight-line basis if the pattern of performance could not be determined. The Company’s fee building revenues have historically been concentrated with a small number of customers. For the years ended December 31, 2018 , 2017 and 2016 , one customer comprised 95% , 97% and 96% of fee building revenue, respectively. The balance of the fee building revenues primarily represented management fees earned from unconsolidated joint ventures and third-party customers. As of December 31, 2018 and 2017 , one customer comprised 48% and 49% 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 non-controlling equity holders) lack both substantive participating rights and substantive kick-out rights, defined as follows: • Participating rights - provide the non-controlling equity holders the ability to direct significant financial and operational decision made in the ordinary course of business that most significantly influence the entity's economic performance. • Kick-out rights - allow the non-controlling equity holders to remove the general partner or managing member without cause. If we conclude that any of the three 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 nonrefundable 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 nonrefundable deposit, a VIE may have been created. As of December 31, 2018 and 2017 , 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. Non-controlling 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 December 31, 2018 and 2017 , 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 when any of the following situations exist: 1) the joint venture qualifies as a VIE and we are not the primary beneficiary, 2) we do not control the joint venture but have the ability to exercise significant influence over its operating and financial policies, or 3) we function as the managing member or general partner of the joint venture and our joint venture partner has substantive participating rights or can replace us as managing member or general partner without cause. As of December 31, 2018 , 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 with an exception for the requirements of ASC 606, which our joint ventures had not adopted at December 31, 2018 . We review real estate inventory held by our unconsolidated joint ventures for impairment, consistent with how we review our real estate inventories as described in more detail above in the section entitled "Real Estate Inventories and Cost of Sales." For the years ended December 31, 2018 , 2017 and 2016 , our unconsolidated joint ventures recorded noncash impairment charges of $28.8 million , $0 and $0 , respectively, of which $18.9 million , $0 and $0 , respectively, was allocated to the Company. We also review our investments in and advances to unconsolidated joint ventures for evidence of other-than-temporary declines in value in accordance with ASC 820 . 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 years ended December 31, 2018 , 2017 and 2016 , the Company recorded other-than-temporary, noncash impairment charges of $1.1 million , $0 and $0 , respectively, related to our investment in and advances to unconsolidated joint ventures. Selling and Marketing Expense Effective January 1, 2018, costs incurred for tangible assets directly used in the sales process such as our sales offices, design studios and model landscaping and furnishings are capitalized to other assets in the accompanying consolidated balance sheets under ASC 340, Other Assets and Deferred Costs ("ASC 340"). These costs are depreciated to selling and marketing expenses generally over the shorter of 30 months or the actual estimated life of the selling community. All other selling and marketing costs, such as commissions and advertising, are expensed as incurred. Prior to January 1, 2018, the Company followed the guidance under ASC 970-340, Real Estate - Other Assets and Deferred Costs ("ASC 970") , and capitalized certain selling and marketing costs to other assets in the consolidated balance sheet if the costs were reasonably expected to be recovered from the sale of the project or from incidental operations, and were incurred for tangible assets that were used directly through the selling period to aid in the sale of the project or services that had been performed to obtain regulatory approval of sales. These capitalizable selling and marketing costs included, but were not limited to, model home design, model home decor and landscaping, and sales office/design studio setup. These costs were amortized to selling and marketing expense as the underlying homes were delivered. 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 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 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 consolidated balance sheets. As of December 31, 2018 and 2017 , no allowance was recorded related to contracts and accounts receivable. Property, Equipment and Capitalized Selling and Marketing Costs Property, equipment and capitalized selling and marketing costs are recorded at cost and included in other assets in the accompanying consolidated balance sheets. Property and equipment are depreciated to general and administrative expenses using the straight-line method over their estimated useful lives ranging from three to five years. Leasehold improvements are stated at cost and are amortized to general and administrative expenses using the straight-line method generally over the shorter of either their estimated useful lives or the term of the lease. Capitalized selling and marketing costs are depreciated using the straight-line method to selling and marketing expenses over the shorter of either 30 months or the actual estimated life of the selling community. For the years ended December 31, 2018 , 2017 and 2016 , the Company incurred depreciation and amortization expense of $6.6 million , $0.4 million and $0.5 million , respectively. The increase in the 2018 depreciation and amortization expense is primarily due to capitalized selling and marketing costs that were reclassified in accordance with the adoption of ASC 606. Please refer to "Selling and Marketing Expense" above for more detail. 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. Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than not (defined as a likelihood of more than 50%) unrealizable under ASC 740. We are required to establish a valuation allowance for any portion of the tax 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 net operating losses and tax credit carryforwards and the planning alternatives, to the extent these items are applicable. 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. At December 31, 2018 and 2017, no valuation allowance was recorded. 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, based on the technical merits, that the position will be sustained upon examination. In addition, these provisions provide guidance on derecognition, classification, interest and pen

Computation of Earnings Per Sha

Computation of Earnings Per Share	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Computation of (Loss) Earnings Per Share	2. Computation of Earnings (Loss) Per Share The following table sets forth the components used in the computation of basic and diluted earnings per share for the years ended December 31, 2018 , 2017 and 2016 : Year Ended December 31, 2018 2017 2016 (Dollars in thousands, except per share amounts) Numerator: Net income (loss) attributable to The New Home Company Inc. $ (14,216 ) $ 17,152 $ 21,022 Denominator: Basic weighted-average shares outstanding 20,703,967 20,849,736 20,685,386 Effect of dilutive shares: Stock options and unvested restricted stock units — 145,762 106,059 Diluted weighted-average shares outstanding 20,703,967 20,995,498 20,791,445 Basic earnings (loss) per share attributable to The New Home Company Inc. $ (0.69 ) $ 0.82 $ 1.02 Diluted earnings (loss) per share attributable to The New Home Company Inc. $ (0.69 ) $ 0.82 $ 1.01 Antidilutive stock options and unvested restricted stock units not included in diluted earnings per share 1,311,802 7,074 849,977

Contracts and Accounts Receivab

Contracts and Accounts Receivable	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Contracts and Accounts Receivable	3. Contracts and Accounts Receivable Contracts and accounts receivable consist of the following: December 31, 2018 2017 (Dollars in thousands) Contracts receivable: Costs incurred on fee building projects $ 159,136 $ 184,827 Estimated earnings 4,401 5,497 163,537 190,324 Less: amounts collected during the period (154,743 ) (178,704 ) Contracts receivable $ 8,794 $ 11,620 Contracts receivable: Billed $ — $ — Unbilled 8,794 11,620 8,794 11,620 Accounts receivable: Escrow receivables 8,787 11,554 Other receivables 684 50 Contracts and accounts receivable $ 18,265 $ 23,224 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 invoiced. All unbilled receivables as of December 31, 2018 and 2017 are expected to be billed and collected within 30 days. Accounts payable at December 31, 2018 and 2017 includes $8.5 million and $11.3 million , respectively, related to costs incurred under the Company’s fee building contracts.

Real Estate Inventories

Real Estate Inventories	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Real Estate Inventories	4. Real Estate Inventories Real estate inventories are summarized as follows: December 31, 2018 2017 (Dollars in thousands) Deposits and pre-acquisition costs $ 20,726 $ 35,846 Land held and land under development 115,987 47,757 Homes completed or under construction 380,956 302,884 Model homes 48,621 29,656 $ 566,290 $ 416,143 All of our deposits and pre-acquisition costs are nonrefundable, except for refundable deposits of $0.9 million and $0.8 million as of December 31, 2018 and 2017 , 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 include all costs associated with home construction, including land, development, indirects, permits, materials and labor (except for capitalized selling and marketing costs, which are classified in other assets). In accordance with ASC 360, 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 years ended December 31, 2018 , 2017 and 2016, the Company recognized real estate-related impairments of $10.0 million , $2.2 million and $3.5 million , respectively, in cost of sales resulting in a decrease of the same amount to pretax income for our homebuilding segment. Fair value for the homebuilding projects impaired during 2018 and 2017 was calculated under discounted cash flow models. Project cash flows were discounted at rates ranging from 9% -16% for 2018 and 8% for 2017. Fair value for the homebuilding projects impaired during 2016 was calculated under discounted cash flow models with project cash flows discounted at rates ranging from 10% - 14% . Fair value for the land sales project impaired during 2016 was determined using the land purchase price included in the executed sales agreement, less the Company's cost to sell. The following table summarizes inventory impairments recorded during the years ended December 31, 2018 , 2017 and 2016 : Year Ended December 31, 2018 2017 2016 (Dollars in Thousands) Inventory impairments: Home sales $ 10,000 $ 2,200 $ 2,350 Land sales — — 1,150 Total inventory impairments $ 10,000 $ 2,200 $ 3,500 Remaining carrying value of inventory impaired at year end $ 57,845 $ 5,921 $ 30,225 Number of projects impaired during the year 2 1 3 Total number of projects subject to periodic impairment review during the year (1) 26 26 27 (1) Represents the peak number of real estate projects that we had during each respective year. The number of projects outstanding at the end of each year may be less than the number of projects listed herein. The home sales impairments of $10.0 million recorded during 2018 related to homes completed or under construction for two , higher-priced active homebuilding communities located in Southern California. These communities were experiencing slower monthly sales absorption rates, and the Company determined additional incentives and pricing adjustments were required to sell the remaining homes and lots at lower estimated aggregate sales prices than the previous carrying value for each project. The home sales impairments of $2.2 million recorded during 2017 related to homes completed or under construction for one active homebuilding community located in Southern California that closed out during 2018. 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. The home sales impairments of $2.4 million recorded during 2016 related to land under development and homes completed or under construction for two active homebuilding communities. These communities were experiencing slow monthly sales absorption rates, 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 values. One community is located in Southern California and the other is located in Northern California and both communities closed out during 2018. The land sales impairments of $1.2 million related to land under development in Northern California that the Company intended to sell after certain improvements were complete. Subsequently, the land sale was not ultimately consummated and the Company made the determination during 2017 to develop and build homes on this land. At December 31, 2018, the Company had delivered approximately 85% of the homes built in this community.

Capitalized Interest (Notes)

Capitalized Interest (Notes)	12 Months Ended
	Dec. 31, 2018
Capitalized Interest [Abstract]
Capitalized Interest	Capitalized Interest Interest is capitalized to inventory and investment in unconsolidated joint ventures during development and other qualifying activities. Interest capitalized as a cost of inventory is included in cost of sales as related homes are closed. Interest capitalized to investment in unconsolidated joint ventures is amortized to equity in net income (loss) of unconsolidated joint ventures as related joint venture homes or lots close, or in instances where lots are sold from the unconsolidated joint venture to the Company, the interest is added to the land basis and included in cost of sales when the related lots or homes are sold to third-party buyers. For the years ended December 31, 2018 , 2017 and 2016 interest incurred, capitalized and expensed was as follows: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Interest incurred $ 28,377 $ 21,978 $ 7,484 Interest capitalized to inventory (27,393 ) (20,394 ) (7,484 ) Interest capitalized to investment in unconsolidated joint ventures (984 ) (1,584 ) — Interest expensed $ — $ — $ — Capitalized interest in beginning inventory $ 16,453 $ 6,342 $ 4,190 Interest capitalized as a cost of inventory 27,393 20,394 7,484 Capitalized interest acquired from unconsolidated joint ventures at consolidation — 738 — Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition 513 — — Contribution to unconsolidated joint ventures — — (1 ) Previously capitalized interest included in cost of home sales (18,678 ) (11,021 ) (5,331 ) Capitalized interest in ending inventory $ 25,681 $ 16,453 $ 6,342 Capitalized interest in beginning investment in unconsolidated joint ventures $ 1,472 $ — $ — Interest capitalized to investment in unconsolidated joint ventures 984 1,584 — Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon consolidation — (76 ) — Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition (513 ) — — Previously capitalized interest included in equity in net income (loss) of unconsolidated joint ventures (1,230 ) (36 ) — Capitalized interest in ending investment in unconsolidated joint ventures $ 713 $ 1,472 $ — Total capitalized interest in ending inventory and investments in unconsolidated joint ventures $ 26,394 $ 17,925 $ 6,342 Capitalized interest as a percentage of inventory 4.5 % 4.0 % 2.2 % Interest included in cost of home sales as a percentage of home sales revenue 3.7 % 2.0 % 1.1 % Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures 2.1 % 2.6 % — % For the year ended December 31, 2018, the Company expensed $1.1 million in interest previously capitalized to investments in unconsolidated joint ventures as the result of an other-than-temporary impairment to its investment in one joint venture. For more information, please refer to Note 6. Contribution to unconsolidated joint ventures related to interest capitalized as a cost of inventory, which was then contributed by the Company to an unconsolidated joint venture formed in 2016.

Unconsolidated Joint Ventures

Unconsolidated Joint Ventures	12 Months Ended
	Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Unconsolidated Joint Ventures	. Investments in and Advances to Unconsolidated Joint Ventures As of December 31, 2018 and 2017 , the Company had ownership interests in 10 unconsolidated joint ventures with ownership percentages that generally ranged from 5% to 35% . The condensed combined balance sheets for our unconsolidated joint ventures accounted for under the equity method were as follows: December 31, 2018 2017 (Dollars in thousands) Cash and cash equivalents $ 45,945 $ 30,017 Restricted cash 19,205 15,041 Real estate inventories 374,607 396,850 Other assets 4,231 3,942 Total assets $ 443,988 $ 445,850 Accounts payable and accrued liabilities $ 43,158 $ 34,959 Notes payable 71,299 78,341 Total liabilities 114,457 113,300 The New Home Company's equity 33,617 50,523 Other partners' equity 295,914 282,027 Total equity 329,531 332,550 Total liabilities and equity $ 443,988 $ 445,850 Debt-to-capitalization ratio 17.8 % 19.1 % Debt-to-equity ratio 21.6 % 23.6 % As of December 31, 2018 and 2017 , the Company had advances outstanding of approximately $0 and $3.8 million , respectively, to one of its unconsolidated joint ventures, which were included in the notes payable balances of the unconsolidated joint ventures in the table above. The advances related 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 bore interest at 10% per annum and was fully repaid during the 2018 second quarter. The condensed combined statements of operations for our unconsolidated joint ventures accounted for under the equity method were as follows: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Revenues $ 181,623 $ 147,447 $ 233,219 Cost of sales and expenses 209,527 147,976 207,028 Net income (loss) of unconsolidated joint ventures $ (27,904 ) $ (529 ) $ 26,191 Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations $ (19,653 ) $ 866 $ 7,691 Included in cost of sales and expenses for our unconsolidated joint ventures for the year ended December 31, 2018 , was $28.8 million in real estate impairment charges. The Company's allocated share of these charges was $18.9 million . The impairment related to the assets of a land development joint venture in Northern California. Fair value for the land development project impaired during 2018 was calculated under a discounted cash flow model. The table below summarizes inventory impairments recorded by our unconsolidated joint ventures during the years ended December 31, 2018 , 2017 and 2016 : Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Joint venture impairments related to: Homebuilding joint ventures $ — $ — $ — Land development joint ventures 28,776 — — Total joint venture impairments $ 28,776 $ — $ — Number of projects impaired during the year 1 — — Total number of projects included in unconsolidated joint ventures and reviewed for impairment during the year 10 10 13 The Company reviews its investments in and advances to unconsolidated joint ventures for other-than-temporary declines in value in accordance with ASC 820. 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 years ended December 31, 2018 , 2017 and 2016 , the Company recorded other-than-temporary, noncash impairment charges of $1.1 million , $0 and $0 , respectively, related to our investment in and advances to unconsolidated joint ventures. The 2018 impairment related to our investment in a Northern California land development joint venture and was included in equity in net income (loss) of unconsolidated joint ventures in the accompanying consolidated statements of operations. For the year ended December 31, 2018, the loss allocation from the Company's TNHC Russell Ranch LLC ("Russell Ranch") unconsolidated joint venture exceeded 20% of the Company's consolidated net loss. As a smaller reporting company, we are not subject to the provisions of Rule 3-09 of Regulation S-X, however, the table below presents select financial information for the Russell Ranch joint venture as prescribed by Rule 8-03(b)(3) of Regulation S-X: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Revenues $ 24,632 $ — $ — Cost of sales: Land sales 24,510 — — Inventory impairments 28,776 — — Gross Margin (28,654 ) — — Expenses (1,149 ) (920 ) (361 ) Net loss $ (29,803 ) $ (920 ) $ (361 ) Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations (1) $ (20,219 ) $ (372 ) $ (264 ) (1) Balance represents equity in net income (loss) of unconsolidated joint ventures included in the statements of operations related to the Company's investment in the Russell Ranch joint venture. The balance may differ from the amount of profit or loss allocated to the Company as reflected in Russell Ranch's financial records primarily due to the other-than-temporary impairment charge taken to the Company's interest in the joint venture and profit deferral from lot sales from Russell Ranch to the Company. For the years ended December 31, 2018 , 2017 and 2016 , the Company earned $3.4 million , $4.9 million , and $8.2 million , respectively, in management fees from its unconsolidated joint ventures. For additional detail regarding management fees, please see Note 12. On October 23, 2017, the Company acquired the remaining outside equity interest of our TNHC Tidelands LLC (Tidelands) unconsolidated joint venture. TNHC Tidelands LLC was the owner of a project in Northern California (the "Tidelands Project"). The Company paid $13.6 million to our joint venture partner for its interest and paid off the $4.1 million remaining balance on the joint venture's construction loan. Following the purchase, the Company was required to consolidate this entity as it was now a wholly owned subsidiary of the Company, and the Tidelands Project became a wholly owned active selling community of the Company. The purchase consideration and the cost basis of our previous investment in unconsolidated joint ventures related to this joint venture, were included in real estate inventories at the time of consolidation. In August 2017, we acquired the remaining outside equity interest of our DMB/TNHC LLC (Sterling at Silverleaf) unconsolidated joint venture. The Company paid $2.6 million to our joint venture partner and upon the change of control was required to consolidate this venture as it is now a wholly owned subsidiary of the Company. The purchase consideration and the cost basis of our previous investment in unconsolidated joint ventures related to this joint venture, are included in real estate inventories. During the 2017 second quarter, our Larkspur Land 8 Investors LLC (Larkspur) unconsolidated joint venture 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 (loss) of unconsolidated joint ventures in the accompanying 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, the Company also recognized a gain of $0.3 million , which was included in equity in net income (loss) of unconsolidated joint ventures in the accompanying 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 (LR8) unconsolidated joint venture 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 (loss) of unconsolidated joint ventures in the accompanying 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, the Company also recognized a gain of $1.1 million , which was included in equity in net income (loss) of unconsolidated joint ventures in the accompanying consolidated statements of operations, due to the purchase of our JV partner's interest for less than its carrying value. 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 became a wholly owned subsidiary of the Company.

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2018
Other Assets [Abstract]
Other Assets	. Other Assets Other assets consist of the following: December 31, 2018 2017 (Dollars in thousands) Property, equipment and capitalized selling and marketing costs, net (1)(2) $ 11,738 $ 603 Deferred tax asset, net 13,937 6,317 Prepaid income taxes 514 — Prepaid expenses 6,348 4,937 Warranty insurance receivable (3) 915 1,202 Capitalized selling and marketing costs (1)(4) — 11,232 $ 33,452 $ 24,291 (1) Under the adoption of the requirements of ASC 606 on January 1, 2018, certain selling and marketing costs that were previously capitalized under former accounting guidance were written off. For the current year, remaining selling and marketing costs and those incurred during 2018 that are permitted to be capitalized under ASC 340 are included as "Property, equipment and capitalized selling and marketing costs, net" within "Other Assets." Under the modified retrospective adoption approach, the December 31, 2017 balance has not been restated. For more information on the adoption of ASC 606, please refer to Note 1. (2) The Company depreciated $6.2 million of capitalized selling and marketing costs to selling and marketing expenses during the year ended December 31, 2018 . The Company depreciated $0.4 million , $0.4 million and $0.5 million of property and equipment to general and administrative expenses during the years ended December 31, 2018, 2017 and 2016, respectively. (3) Of the $1.2 million amount for December 31, 2017, approximately $0.6 million related to 2016 estimated warranty insurance recoveries. For further discussion, please see Note 8. (4) The Company amortized $11.3 million and $9.2 million of capitalized selling and marketing costs to selling and marketing expenses during the years ended December 31, 2017 and 2016, respectively.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following: December 31, 2018 2017 (Dollars in thousands) Warranty accrual (1) $ 6,898 $ 6,859 Accrued compensation and benefits 5,749 9,164 Accrued interest 6,497 6,217 Completion reserve 4,192 5,792 Income taxes payable — 6,368 Deferred profit from unconsolidated joint ventures — 136 Other accrued expenses 5,692 3,518 $ 29,028 $ 38,054 (1) Included in the amount for 2018 is approximately $0.9 million of additional warranty liabilities estimated to be covered by our insurance policies. Included in the amount for 2017 is approximately $1.2 million of additional warranty liabilities estimated to be covered by our insurance policies that were adjusted to present the warranty reserves and related estimated warranty insurance receivable on a gross basis at December 31, 2017. Of $1.2 million of this amount, approximately $0.6 million related to 2016 estimated warranty insurance recoveries. Changes in our warranty accrual are detailed in the table set forth below: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Beginning warranty accrual for homebuilding projects $ 6,634 $ 4,608 $ 3,846 Warranty provision for homebuilding projects 2,330 1,825 1,921 Warranty assumed from joint ventures at consolidation — 781 469 Warranty payments for homebuilding projects (2,006 ) (989 ) (563 ) Adjustment to warranty accrual (1) (277 ) 409 (1,065 ) Ending warranty accrual for homebuilding projects 6,681 6,634 4,608 Beginning warranty accrual for fee building projects 225 323 335 Warranty provision for fee building projects — — — Warranty efforts for fee building projects (70 ) (3 ) (12 ) Adjustment to warranty accrual for fee building projects (2) 62 (95 ) — Ending warranty accrual for fee building projects 217 225 323 Total ending warranty accrual $ 6,898 $ 6,859 $ 4,931 (1) Included in the amount for 2017 is approximately $1.2 million of additional warranty liabilities estimated to be covered by our insurance policies that were adjusted to present the warranty reserves and related estimated warranty insurance receivable on a gross basis at December 31, 2017. Of the $1.2 million adjusted in 2017, approximately $0.6 million related to prior year estimated warranty insurance recoveries. During 2018, the estimated amount to be covered by our insurance policies was reduced by $0.3 million . Netted against the amount recorded in 2017 is a warranty accrual adjustment of $0.8 million related to a lower experience rate of expected warranty expenditures. Netted against the amount recorded in 2018 is a warranty accrual adjustment of $43,000 related to higher expected warranty expenditures. (2) During 2018, the estimated amount to be covered by our insurance policies was increased by approximately $32,000 . Netted with this amount is a warranty accrual adjustment of approximately $30,000 related to higher expected warranty expenditures. We maintain general liability insurance designed to protect us against a portion of our risk of loss from construction-related warranty and construction defect claims. Our warranty accrual and related estimated insurance recoveries are based on historical claim and expense data, and expected recoveries from insurance carriers are recorded based on actual insurance claims and amounts determined using our warranty accrual estimates, our insurance policy coverage limits for the applicable policy years and historical recovery rates. Because of the inherent uncertainty and variability in these assumptions, our actual insurance recoveries could differ significantly from amounts currently estimated. During 2018, we recorded an adjustment of $0.1 million to our warranty accrual due to higher expected warranty expenditures. Of which, $43,000 is included in "Adjustment to warranty accrual" and $30,000 is included in "Adjustment to warranty accrual for fee building projects" above and resulted in corresponding increases to cost of home sales and cost of fee building sales in the consolidated statements of operations. During 2017 and 2016, we recorded adjustments of $0.9 million and $1.1 million , respectively, to our warranty accrual due to a lower experience rate of expected warranty expenditures. In 2017, $0.8 million is included in "Adjustment to warranty accrual" and $63,000 is included in "Adjustment to warranty accrual for fee building projects" above and resulted in respective reductions of cost of homes sales and cost of fee building sales in the consolidated statements of operations.

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Unsecured Revolving Credit Facility and Other Notes Payable	Senior Notes and Unsecured Revolving Credit Facility Notes payable consisted of the following: December 31, 2018 2017 (Dollars in thousands) 7.25% Senior Notes due 2022, net $ 320,148 $ 318,656 Unsecured revolving credit facility 67,500 — Total Notes Payable $ 387,648 $ 318,656 The carrying amount of our senior notes listed above at December 31, 2018 is net of the unamortized discount of $1.7 million , unamortized premium of $1.3 million , and unamortized debt issuance costs of $4.5 million , each of which are amortized and capitalized to interest costs on a straight-line basis over the respective terms of the notes, which approximates the effective interest method. The carrying amount for the senior notes listed above at December 31, 2017, is net of the unamortized discount of $2.2 million , unamortized premium of $1.8 million , and unamortized debt issuance costs of $5.9 million . Debt issuance costs for the unsecured revolving credit facility are included in other assets and amortized and capitalized to interest costs on a straight-line basis over the term of the agreement. 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 used for general corporate purposes. Net proceeds from the Additional Notes were used for working capital, land acquisition and general corporate purposes. Interest on the Existing Notes and the Additional Notes (together, the "Notes") is paid semiannually in arrears on April 1 and October 1. The Notes were exchanged in an exchange offer for Notes that are identical to the original Notes, except that they are registered under the Securities Act of 1933, and are freely tradeable in accordance with applicable law. 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 million . The Notes are guaranteed, on an unsecured basis, jointly and severally, by all of the Company's 100% owned subsidiaries. See Note 18 for information about the guarantees and supplemental financial statement information about our guarantor subsidiaries group and non-guarantor subsidiaries group. The Company's unsecured revolving credit facility ("Credit Facility") is with a bank group and matures on September 1, 2020. Total commitments under the Credit Facility are $200 million with an accordion feature that allows the facility size thereunder to be increased up to an aggregate of $300 million subject to certain financial conditions, including the availability of bank commitments. As of December 31, 2018 , we had $67.5 million of outstanding borrowings under the credit facility. 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 December 31, 2018 , the interest rate under the facility was 5.50% . 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 or if this test is not met, the Company maintains unrestricted cash equal to not less than the trailing 12 month consolidated interest incurred. As of December 31, 2018 , the Company was in compliance with all financial covenants. The Credit Facility also provides a $25.0 million sublimit for letters of credit, subject to conditions set forth in the agreement. As of December 31, 2018 and 2017 , the Company had $2.3 million and $3.4 million in outstanding letters of credit issued under the Credit Facility, respectively. In December 2016, the Company retired a term loan with a land seller. The loan was secured by real estate, and bore interest at 7.0% per annum. Immediately prior to payoff, the land seller reduced the principal balance of $4.0 million by $0.3 million in exchange for the immediate payoff of the note. The Company paid off the new principal balance of $3.75 million and recognized the $0.3 million principal reduction as a gain in other expense, net, in the accompanying consolidated statements of operations. Notes payable have stated maturities as follows for the years ending December 31 (dollars in thousands): 2019 $ — 2020 67,500 2021 — 2022 325,000 2023 — $ 392,500

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Dec. 31, 2018
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 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 Notes and Credit Facility. The Notes are classified as Level 2 and primarily reflect estimated prices obtained from outside pricing sources. The Company's Credit Facility is classified as Level 3 within the fair value hierarchy. The Company had an outstanding balance of $67.5 million under its Credit Facility at December 31, 2018 , and the estimated fair value of the outstanding balance approximated the carrying value due to the short-term nature of LIBOR contracts. December 31, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value (dollars in thousands) 7.25% Senior Notes due 2022, net (1) $ 320,148 $ 292,500 $ 318,656 $ 336,375 Unsecured revolving credit facility $ 67,500 $ 67,500 $ — $ — (1) The carrying value for the Senior Notes, as presented at December 31, 2018 , is net of the unamortized discount of $1.7 million , unamortized premium of $1.3 million , and unamortized debt issuance costs of $4.5 million . The carrying value of the Senior Notes, as presented at December 31, 2017 , is net of the unamortized discount of $2.2 million , unamortized premium of $1.8 million , and unamortized debt issuance costs of $5.9 million . The unamortized discount, unamortized premium and debt issuance costs are not factored into the estimated fair value. 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 real estate inventory and long-lived assets that are measured at cost when acquired and adjusted for impairment to fair value, if deemed necessary. For the years ended December 31, 2018 and 2017, the Company recognized real estate-related impairment adjustments of $10.0 million and $2.2 million , respectively, related to two homebuilding communities for 2018 and one homebuilding community for 2017. For the year ended December 31, 2016, the Company recognized real-estate related impairments of $3.5 million . Of this amount, $2.4 million related to two active homebuilding communities and $1.2 million related to land the Company had under development and intended to sell. The impairment adjustments were made using Level 3 inputs and assumptions, and the remaining carrying value of the real estate inventories subject to the impairment adjustments were $57.8 million , $5.9 million and $30.2 million at December 31, 2018, 2017 and 2016, respectively. For more information on real estate impairments, please refer to Note 4. For the years ended December 31, 2018 and 2017, the Company recognized an other-than-temporary impairment to its investment in unconsolidated joint ventures of $1.1 million and $0 , respectively. The 2018 impairment related to a land development joint venture in Northern California. The impairment adjustment was made using Level 3 inputs and assumptions. For more information on the investment in unconsolidated joint ventures impairment, please refer to Note 6.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
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 Company's liability under such LTV maintenance agreements. 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 December 31, 2018 and 2017 , $41.3 million and $38.6 million , respectively, was outstanding under loans that are credit enhanced by the Company through LTV maintenance agreements. Under the terms of the joint venture agreements, the Company's proportionate share of LTV maintenance agreement liabilities was $7.3 million and $6.7 million , respectively, as of December 31, 2018 and 2017 . 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 such as fraud, misrepresentation, misapplication or non-payment of rents, profits, insurance, and condemnation proceeds, waste and mechanic liens, and bankruptcy. We obtain surety bonds in the normal course of business to ensure completion of certain infrastructure improvements of our projects. As of December 31, 2018 and 2017 , the Company had outstanding surety bonds totaling $50.5 million and $52.1 million , respectively. The estimated remaining costs to complete of such improvements as of December 31, 2018 and 2017 were $20.3 million and $24.4 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. We lease our corporate headquarters in Aliso Viejo, California. The lease on this facility consists of approximately 18,700 square feet and expires in November 2020 . In addition, we lease divisional offices in Southern California, Northern California and Arizona totaling approximately 19,000 square feet (of which approximately 5,800 square feet is sublet) expiring at various times through 2021. As of December 31, 2018 , the future minimum lease payments under non-cancelable operating leases, primarily associated with our office facilities, are as follows (dollars in thousands): 2019 $ 1,739 2020 1,266 2021 322 2022 — 2023 — Thereafter — $ 3,327 For the years ended December 31, 2018 , 2017 and 2016 , rent expense was $1.1 million for each year.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions During the years ended December 31, 2018 , 2017 and 2016 , the Company incurred construction-related costs on behalf of its unconsolidated joint ventures totaling $6.4 million , $7.3 million and $9.4 million , respectively. As of December 31, 2018 and 2017 , $0.4 million and $0.1 million , respectively, are included in due from affiliates in the accompanying 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 years ended December 31, 2018 , 2017 and 2016 , the Company earned $3.4 million , $4.9 million and $8.2 million , respectively, in management fees, which have been recorded as fee building revenue in the accompanying consolidated statements of operations. As of December 31, 2018 and 2017 , $0.2 million and $0.3 million , respectively, of management fees are included in due from affiliates in the accompanying consolidated balance sheets. One member of the Company's board of directors beneficially owns more than 10% of the Company's outstanding common stock through an affiliated entity, IHP Capital Partners VI, LLC, and is also affiliated with entities that have investments in two of the Company's unconsolidated joint ventures, TNHC Meridian Investors LLC and TNHC Russell Ranch LLC ("Russell Ranch"). A former member of the Company's board of directors is affiliated with entities that have investments in three of the Company's unconsolidated joint ventures, Arantine Hills Holdings LP ("Bedford"), Calabasas Village LP, and TNHC-TCN Santa Clarita, LP. As of December 31, 2018 , the Company's investment in these five unconsolidated joint ventures totaled $18.5 million . During the 2017 second quarter, the Bedford joint venture agreement was amended to increase the Company's funding obligation by $4.0 million over the existing contribution cap. During the 2017 third quarter, the Company amended the Russell Ranch joint venture agreement pursuant to which it, among other things, agreed to acquire lots in Phase 1 of the project which were taken down in July 2018. At December 31, 2017, the Company had a $5.1 million nonrefundable deposit outstanding related to this purchase, which was subsequently applied to the $34.0 million purchase price of the land. 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 years ended December 31, 2018 , 2017 and 2016 , the Company incurred $0.3 million , $0.6 million and $0.3 million , respectively, for these services. For the same periods, the Company's unconsolidated joint ventures incurred $0.4 million , $0.9 million and $0.6 million , respectively, for these services. Of these costs, $7,000 and $10,700 was due to TL Fab LP from the Company at December 31, 2018 and 2017 , respectively, and $8,000 and $0 was due to TL Fab LP from the Company's unconsolidated joint ventures at December 31, 2018 and 2017 , 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 with the Company having 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 which is included in accrued expenses and other liabilities in the accompanying 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 December 31, 2018 and 2017 , $0 and $0.1 million , respectively, of deferred gain from lot sale transactions is included in accrued expenses and other liabilities in the accompanying consolidated balance sheets as deferred profit from unconsolidated joint ventures for lot transactions between the Company and its TNHC-HW Cannery LLC ("Cannery") unconsolidated joint venture. In addition, at December 31, 2018 , $0.2 million of deferred gain from lot transactions with the Cannery, Bedford and Russell Ranch unconsolidated joint ventures remained unrecognized and included as a reduction to land basis in the accompanying consolidated balance sheets. At December 31, 2017 , $0.5 million of deferred gain from the Cannery lot transactions remained unrecognized and was included as a reduction to land basis in the accompanying consolidated balance sheets. The Company’s land purchase agreement with the 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 year ended December 31, 2017, the Company was refunded $0.2 million from the Cannery for profit participation overpayments from prior periods due to a modification of the underlying calculation related to profit participation, and as of December 31, 2018 and 2017, no profit participation was due to the Cannery. Also per the purchase agreement, the Company was reimbursed $0.1 million in fee credits from the Cannery during 2018. As of December 31, 2018 and 2017 , $37,000 and $0.1 million , respectively, in fee credits was due to the Company from the Cannery, which amount is 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. For his services, he is compensated $5,000 per month. His current agreement terminates on June 26, 2019 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 December 31, 2018 , no fees were due to Mr. Davis for his consulting services. Additionally, the Company entered into a construction agreement effective September 7, 2017, with The Joseph and Terri Davis Family Trust Dated August 25, 1999 ("Davis Family Trust") of which Joseph Davis is a trustee. The agreement is a fee building contract pursuant to which the Company acts in the capacity of a general contractor to build a single family detached home on land owned by the Davis Family Trust. For its services, the Company will receive a contractor's fee and the Davis Family Trust will reimburse the Company's field overhead costs. During the years ended December 31, 2018 and 2017 , the Company billed the Davis Family Trust $3.0 million and $0.5 million , respectively, including reimbursable construction costs and the Company's contractor's fees which are included in fee building revenues in the accompanying consolidated statements of operations. Contractor's fees comprised $83,000 and $13,000 of the total billings for the years ended ended December 31, 2018 and 2017 , respectively. The Company recorded $2.9 million and $0.5 million for the years ended December 31, 2018 and 2017 , respectively, for the cost of this fee building revenue which is included in fee building cost of sales in the accompanying consolidated statements of operations. At December 31, 2018 and 2017 , the Company was due $0.6 million and $0.5 million , respectively, from the Davis Family Trust for construction draws, which are included in due from affiliates in the accompanying consolidated balance sheets. On February 17, 2017, 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 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 is compensated $6,000 per month. The current term is through August 17, 2019 and may be extended upon mutual consent of the parties. Additionally, Mr. Stelmar's outstanding restricted stock unit equity award granted in 2016 continues to vest in accordance with its original terms based on his continued provision of consulting services rather than continued employment. At December 31, 2018 , no fees were due to Mr. Stelmar for his consulting services. On June 29, 2015, the Company formed a new unconsolidated joint venture TNHC Tidelands LLC ("Tidelands"), 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 years ended December 31, 2017 and 2016, $0.2 million and $0.1 million , respectively, of the previously deferred revenue was recognized as equity in net income of unconsolidated joint ventures. During the third quarter of 2017, the Company acquired its partner's equity interest in the Tidelands joint venture. As part of this transaction, the remaining $0.1 million deferred profit was written off. The Company paid $13.6 million to our joint venture partner for its interest and paid off the $4.1 million remaining balance on the joint venture's construction loan. Following the purchase, the Company was required to consolidate this entity as a wholly owned subsidiary of the Company, and the underlying homebuilding project became a wholly owned active selling community of the Company. The purchase consideration and the cost basis of our previous investment in unconsolidated joint ventures related to this joint venture was included in real estate inventories at the time of consolidation. 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 became a wholly owned subsidiary of the Company. During June 2016, our LR8 Investors LLC ("LR8") unconsolidated joint venture 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 (loss) of unconsolidated joint ventures in the accompanying 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, the Company also recognized a gain of $1.1 million , which was included in equity in net income (loss) of unconsolidated joint ventures in the accompanying consolidated statement of operations, due to the purchase of our JV partner's interest for less than its carrying value. As of December 31, 2018 and 2017 , the Company had advances outstanding of approximately $0 and $3.8 million , respectively, to an unconsolidated joint venture, Encore McKinley. The note bore interest at 10% per annum and was fully repaid during the 2018 second quarter. For the year ended December 31, 2018 and 2017, the Company earned $0.1 million and $0.5 million in interest income on the unsecured promissory note which is included in equity in net income (loss) of unconsolidated joint ventures in the accompanying consolidated statements of operations. As of December 31, 2018 and 2017 , $0 and $34,000 , respectively, of interest income was due to the Company and included in due from affiliates in the accompanying consolidated balance sheets. During the 2017 second quarter, our Larkspur Land 8 Investors LLC ("Larkspur") unconsolidated joint venture 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 (loss) of unconsolidated joint ventures in the accompanying 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, the Company also recognized a gain of $0.3 million , which was included in equity in net income (loss) of unconsolidated joint ventures in the accompanying consolidated statements of operations, due to the purchase of our JV partner's interest for less than its carrying value. The Company entered into two transactions in each 2018 and 2017 to purchase land from affiliates of IHP Capital Partners VI, LLC, which 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 first 2017 agreement allows the Company the option to purchase lots in Northern California in a phased takedown for a gross purchase price of $16.1 million with profit participation and master marketing fees due to the seller as outlined in the contract. As of December 31, 2018 , the Company has taken down approximately two-thirds of the lots, paid $0.3 million in master marketing fees, and has a $0.3 million nonrefundable deposit outstanding on the remaining lots. The second 2017 transaction allows the Company to purchase finished lots in Northern California, which includes customary profit participation, and is structured as an optioned takedown. The total purchase price, including the cost for the finished lot development and the option, is expected to be approximately $56.3 million , and depends on timing of takedowns, as well as our obligation to pay certain fees and costs during the option maintenance period. As of December 31, 2018 , the Company has made a $5.3 million nonrefundable deposit, reimbursed the owner $0.1 million for fees and costs, paid $5.9 million in option payments, and had taken down approximately 8% of the lots. In 2018, the Company agreed to purchase and completed the takedown of finished lots in Northern California for a gross purchase price of $8.0 million with additional profit participation, marketing fees and certain reimbursements due to the seller as outlined in the agreement. At December 31, 2018, the Company had paid $0.3 million in master marketing fees and reimbursed the land seller $0.2 million in costs related to this contract. Also during 2018, the Company entered an agreement to purchase land in a master-plan community in Arizona for an estimated purchase price of $3.8 million plus profit participation and marketing fees pursuant to contract terms. The Company has an outstanding, nonrefundable deposit of $0.3 million related to this contract and had not taken down any lots as of December 31, 2018 . In August 2017, we acquired the remaining outside equity interest of our DMB/TNHC LLC (Sterling at Silverleaf) unconsolidated joint venture. The Company paid $2.6 million to our joint venture partner and upon the change of control was required to consolidate this venture as a wholly-owned subsidiary of the Company. There was no remeasurement gain or loss on our unconsolidated interest prior to the change in control. The purchase consideration and the cost basis of our previous investment in unconsolidated joint ventures related to this joint venture are included in real estate inventories at December 31, 2018 and 2017 . In the first quarter 2018, the Company entered into an agreement with its Bedford joint venture that is affiliated with one former member of the Company's board of directors for the option to purchase lots in phased takedowns. As of December 31, 2018 , the Company has made a $1.5 million nonrefundable deposit as consideration for this option, and a portion of the deposit will be applied to the purchase price across the phases. The gross purchase price of the land is $10.0 million with profit participation due to seller as outlined in the contract. The Company has taken down approximately one-half of the contracted lots and $0.9 million of the nonrefundable deposit remains outstanding. During the fourth quarter 2018, the Company entered into a second option agreement with the Bedford joint venture to purchase lots in phased takedowns. As of December 31, 2018, the Company has made a $1.4 million nonrefundable deposit as consideration for the option, and a portion of the deposit will be applied to the purchase price across the phases. The gross purchase price of the land is $10.5 million with profit participation due to the seller pursuant to the agreement. At December 31, 2018, the Company had not taken down any of the optioned lots and the full deposit remained outstanding. FMR LLC beneficially owns over 10% of the Company's common stock, and an affiliate of FMR LLC ("Fidelity") provides investment management and record keeping services to the Company’s 401(k) Plan. For the years ended December 31, 2018 , 2017 and 2016 the Company paid Fidelity approximately $14,000 , $11,000 and $0 , respectively, for 401(k) Plan record keeping and investment management services. The participants in the Company's 401(k) Plan paid Fidelity approximately $6,000 , $4,000 and $0 for the years ended December 31, 2018 , 2017 and 2016 , respectively, for record keeping and investment management services. The Company has provided credit enhancements in connection with joint venture borrowings in the form of LTV maintenance agreements in order to secure the joint venture's performance under the loans and maintenance of certain LTV ratios. In addition, the Company has provided completion agreements regarding specific performance for certain projects whereby the Company is required to complete the given project with funds provided by the beneficiary of the agreement. For more information regarding these agreements please refer to Note 11.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2018
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 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. On May 22, 2018, our shareholders approved the amended and restated 2016 Incentive Plan which increased the number of shares authorized for issuance under the plan from 800,000 to 2,100,000 shares. The amended and restated 2016 Incentive Plan will expire on April 4, 2028. The Company has issued stock option and restricted stock unit awards under the 2014 Incentive Plan and restricted stock unit awards and performance share unit awards under the 2016 Incentive Plan. As of December 31, 2018 , 51,681 shares remain available for grant under the 2014 Incentive Plan and 1,465,834 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, restricted stock unit awards, and performance share 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 years ended December 31, 2018 , 2017 and 2016 is presented below: Year Ended December 31, 2018 2017 2016 Number of Shares Weighted-Average Exercise Price per Share Number of Shares Weighted-Average Exercise Price per Share Number of Shares Weighted-Average Exercise Price per Share Outstanding Stock Option Activity Outstanding, beginning of period 826,498 $ 11.00 835,786 $ 11.00 840,298 $ 11.00 Granted — $ — — $ — — $ — Exercised — $ — (9,288 ) $ 11.00 — $ — Forfeited (5,028 ) $ 11.00 — $ — (4,512 ) $ 11.00 Outstanding, end of period 821,470 $ 11.00 826,498 $ 11.00 835,786 $ 11.00 Exercisable, end of period 821,470 $ 11.00 826,498 $ 11.00 42,042 $ 11.00 A summary of the Company’s restricted stock unit activity as of and for the years ended December 31, 2018 , 2017 and 2016 is presented below: Year Ended December 31, 2018 2017 2016 Number of Shares Weighted-Average Grant-Date Fair Value per Share Number of Shares Weighted-Average Grant-Date Fair Value per Share Number of Shares Weighted-Average Grant-Date Fair Value per Share Restricted Stock Unit Activity Outstanding, beginning of period 562,082 $ 10.72 474,989 $ 10.66 308,386 $ 14.20 Granted 179,268 $ 11.24 343,933 $ 10.84 414,045 $ 10.05 Vested (271,875 ) $ 11.02 (211,475 ) $ 10.76 (231,633 ) $ 14.22 Forfeited (248 ) $ 10.05 (45,365 ) $ 10.79 (15,809 ) $ 11.62 Outstanding, end of period 469,227 $ 10.75 562,082 $ 10.72 474,989 $ 10.66 A summary of the Company’s performance share unit activity as of and for the years ended ended December 31, 2018 is presented below: Year Ended December 31, 2018 Number of Shares Weighted-Average Grant-Date Fair Value per Share Performance Share Unit Activity Outstanding, beginning of period — $ — Granted (at target) 125,422 $ 11.68 Vested — $ — Forfeited — $ — Outstanding, end of period (at target) 125,422 $ 11.68 The expense related to the Company's stock-based compensation programs, included in general and administrative expense in the accompanying consolidated statements of operations, was as follows: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Expense related to: Stock options $ — $ 11 $ 1,054 Restricted stock units and performance share units 3,090 2,792 2,417 $ 3,090 $ 2,803 $ 3,471 The Company granted stock options on January 30, 2014 that fully vested on January 30, 2017. Assumptions used to calculate the weighted-average grant date fair value of the common stock options included an expected term of 4.3 years, expected volatility of 49.0% , a risk-free interest rate of 1.2% and no expected dividends. Based on these inputs, the weighted-average grant date fair value per share equaled $4.43 . The following table presents details of the assumptions used to calculate the re-measurement date fair value of common stock options granted to Mr. Davis by the Company in accordance with ASC 505-50 as discussed in Note 1. Mr Davis' stock options fully vested on January 30, 2017 and were fully expensed. The below reflects fair value assumptions at January 30, 2017. Period Ended January 30, Year Ended December 31, 2017 2016 Expected term (in years) 1.0 1.1 Expected volatility 34.9 % 36.7 % Risk-free interest rate 0.8 % 0.9 % Expected dividends — — Re-measurement date fair value per share $ 1.32 $ 2.14 We used the "simplified method" to establish the expected term of the common stock options granted by the Company. Our restricted stock unit awards and performance share unit awards are valued based on the closing price of our common stock on the date of grant. The number of performance share units that will vest ranges from 50%-150% of the target amount awarded based on actual cumulative earnings per share and return on equity growth from 2018-2019, subject to initial achievement of minimum thresholds. We evaluate the probability of achieving the performance targets established under each of the performance share unit awards quarterly and estimate the number of underlying units that are probable of being issued. Compensation expense for restricted stock unit and performance share unit awards is being recognized using the straight-line method over the requisite service period, subject to cumulative catch-up adjustments required as a result of changes in the number shares probable of being issued for performance share unit awards. At December 31, 2018, the probability of achieving the performance targets associated with the outstanding performance share unit awards was estimated to be 0% . Forfeitures are recognized in compensation cost during the period that the award forfeiture occurs. At December 31, 2018 , the amount of unearned stock-based compensation currently estimated to be expensed through 2021 is $2.6 million . The weighted-average period over which the unearned stock-based compensation is expected to be recognized is 1.4 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	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision (benefit) for income taxes includes the following: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Current provision (benefit) for income taxes: Federal $ (67 ) $ 10,243 $ 10,321 State 304 3,030 3,375 237 13,273 13,696 Deferred provision (benefit) for income taxes: Federal (4,208 ) 2,341 (506 ) State (2,104 ) (224 ) (166 ) (6,312 ) 2,117 (672 ) Provision (benefit) for income taxes $ (6,075 ) $ 15,390 $ 13,024 The effective tax rate differs from the federal statutory rate of 21% for the year ended December 31, 2018 and 35% for the years ended December 31, 2017 and 2016, due to the following items: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Income (loss) before taxes of taxable entities $ (20,305 ) $ 32,531 $ 33,950 (Provision) benefit for income taxes at federal statutory rate $ 4,264 $ (11,386 ) $ (11,883 ) (Increases) decreases in tax resulting from: Provisional rate adjustment - tax reform 148 (3,190 ) — State income taxes, net of federal benefit 1,396 (1,860 ) (1,977 ) Manufacturing deduction — 958 1,142 Return to provision difference 388 159 (145 ) Other (121 ) (71 ) (161 ) (Provision) benefit for income taxes $ 6,075 $ (15,390 ) $ (13,024 ) Effective tax rate 29.9 % 47.3 % 38.4 % With the enactment of the Tax Cuts and Jobs Act (the "Tax Act"), the corporate federal income tax rate dropped from a maximum of 35% to a flat 21% rate effective January 1, 2018. The SEC staff issued Staff Accounting Bulletin 118 ("SAB 118"), which provides guidance on accounting for the tax effects of the Tax Act and provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. As of December 31, 2017, we had completed the majority of our accounting for the tax effects of the Tax Act. As a result of the rate change, the Company was required to revalue its net deferred tax asset at December 31, 2017 and recorded a provisional adjustment to reduce its value by $3.2 million . The Company completed its accounting for the tax effects of the Tax Act in 2018, within the one-year measurement period prescribed by the SEC, and recorded a $0.1 million adjustment to the provisional amount. The components of our deferred income tax asset, net are as follows: December 31, 2018 2017 (Dollars in thousands) State taxes $ 74 $ 633 Reserves and accruals 2,258 1,893 Intangible assets 28 207 Share based compensation 1,594 1,585 Inventory 3,699 627 Investments in joint ventures 6,318 1,411 Depreciation and amortization (34 ) (39 ) Deferred tax asset, net $ 13,937 $ 6,317 The Company classifies any interest and penalties related to income taxes assessed as part of income tax provision. The Company has concluded that there were no 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. We are subject to U.S. federal income tax examination for calendar tax years ending 2015 through 2018 and various state income tax examinations for 2014 through 2018 calendar tax years.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s operations are organized into two reportable segments: homebuilding and fee building. The homebuilding reportable segment aggregates the Southern California, Northern California and Arizona homebuilding operating segments. 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: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Revenues: Homebuilding $ 504,029 $ 560,842 $ 507,949 Fee building, including management fees 163,537 190,324 186,507 Total $ 667,566 $ 751,166 $ 694,456 Pretax income (loss): Homebuilding $ (24,706 ) $ 27,034 $ 25,546 Fee building, including management fees 4,401 5,497 8,404 Total $ (20,305 ) $ 32,531 $ 33,950 December 31, 2018 2017 (Dollars in thousands) Assets: Homebuilding $ 685,218 $ 631,087 Fee building 10,879 13,425 Total $ 696,097 $ 644,512

Results of Quarterly Operations

Results of Quarterly Operations Results of Quarterly Operations	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Text Block]	Results of Quarterly Operations (Unaudited) The following table presents our unaudited quarterly financial data. In our opinion, this information has been prepared on a basis consistent with that of our audited consolidated financial statements and all necessary material adjustments, consisting of normal recurring accruals and adjustments, have been included to present fairly the unaudited quarterly financial data. Our quarterly results of operations for these periods are not necessarily indicative of future results of operations. First Quarter Second Quarter Third Quarter Fourth Quarter Total (Dollars in thousands, except per share amounts) 2018 Home sales revenue $ 79,437 $ 117,460 $ 119,874 $ 187,258 $ 504,029 Cost of home sales 69,694 102,678 102,124 162,034 436,530 Home sales impairments — — — 10,000 10,000 Homebuilding gross margin $ 9,743 $ 14,782 $ 17,750 $ 15,224 $ 57,499 Fee building revenue $ 43,794 $ 38,095 $ 39,240 $ 42,408 $ 163,537 Cost of fee building 42,699 37,038 38,124 41,275 159,136 Fee building gross margin $ 1,095 $ 1,057 $ 1,116 $ 1,133 $ 4,401 Pretax income (loss) $ (1,511 ) $ 182 $ 3,400 $ (22,376 ) $ (20,305 ) Net income (loss) attributable to The New Home Company Inc. $ (640 ) $ 115 $ 2,459 $ (16,150 ) $ (14,216 ) Basic earnings (loss) per share attributable to The New Home Company Inc. (1) $ (0.03 ) $ 0.01 $ 0.12 $ (0.80 ) $ (0.69 ) Diluted earnings (loss) per share attributable to The New Home Company Inc. (1) $ (0.03 ) $ 0.01 $ 0.12 $ (0.80 ) $ (0.69 ) 2017 Home sales revenue $ 69,406 $ 96,929 $ 114,622 $ 279,885 $ 560,842 Cost of home sales 60,065 82,488 95,992 234,668 473,213 Home sales impairments — 1,300 — 900 2,200 Homebuilding gross margin $ 9,341 $ 13,141 $ 18,630 $ 44,317 $ 85,429 Fee building revenue $ 55,617 $ 47,181 $ 43,309 $ 44,217 $ 190,324 Cost of fee building 53,926 45,899 41,808 43,194 184,827 Fee building gross margin $ 1,691 $ 1,282 $ 1,501 $ 1,023 $ 5,497 Pretax income $ 1,360 $ 2,505 $ 6,974 $ 21,692 $ 32,531 Net income attributable to The New Home Company Inc. $ 846 $ 1,517 $ 4,318 $ 10,471 $ 17,152 Basic earnings per share attributable to The New Home Company Inc. (1) $ 0.04 $ 0.07 $ 0.21 $ 0.50 $ 0.82 Diluted earnings per share attributable to The New Home Company Inc. (1) $ 0.04 $ 0.07 $ 0.21 $ 0.50 $ 0.82 (1) Some amounts do not add to our full year results presented on our consolidated statement of operations due to rounding differences in quarterly and annual weighted average share calculations.

Supplemental Discloure of Cash

Supplemental Discloure of Cash Flow Information (Notes)	12 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	Supplemental Disclosure of Cash Flow Information The following table presents certain supplemental cash flow information: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Supplemental disclosures of cash flow information Interest paid, net of amounts capitalized $ — $ — $ — Income taxes paid $ 7,110 $ 14,050 $ 13,670 Supplemental disclosures of non-cash transactions Contribution of real estate to unconsolidated joint ventures $ — $ — $ 798 Assets assumed from unconsolidated joint ventures $ — $ 26,613 $ 46,811 Liabilities and equity assumed from unconsolidated joint ventures $ — $ 27,608 $ 47,197

Supplemental Guarantor Informat

Supplemental Guarantor Information (Notes)	12 Months Ended
	Dec. 31, 2018
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. SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2018 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Assets Cash and cash equivalents $ 28,877 $ 13,249 $ 147 $ — $ 42,273 Restricted cash — 269 — — 269 Contracts and accounts receivable 7 18,926 — (668 ) 18,265 Intercompany receivables 192,341 — — (192,341 ) — Due from affiliates — 1,218 — — 1,218 Real estate inventories — 566,290 — — 566,290 Investment in and advances to unconsolidated joint ventures — 34,330 — — 34,330 Investment in subsidiaries 396,466 — — (396,466 ) — Other assets 18,643 14,812 — (3 ) 33,452 Total assets $ 636,334 $ 649,094 $ 147 $ (589,478 ) $ 696,097 Liabilities and equity Accounts payable $ 240 $ 39,151 $ — $ — $ 39,391 Accrued expenses and other liabilities 8,492 21,129 71 (664 ) 29,028 Intercompany payables — 192,341 — (192,341 ) — Due to affiliates — 7 — (7 ) — Unsecured revolving credit facility 67,500 — — — 67,500 Senior notes, net 320,148 — — — 320,148 Total liabilities 396,380 252,628 71 (193,012 ) 456,067 Stockholders' equity 239,954 396,466 — (396,466 ) 239,954 Non-controlling interest in subsidiary — — 76 — 76 Total equity 239,954 396,466 76 (396,466 ) 240,030 Total liabilities and equity $ 636,334 $ 649,094 $ 147 $ (589,478 ) $ 696,097 December 31, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Assets Cash and cash equivalents $ 99,586 $ 23,772 $ 188 $ — $ 123,546 Restricted cash — 424 — — 424 Contracts and accounts receivable 10 24,238 — (1,024 ) 23,224 Intercompany receivables 129,414 — — (129,414 ) — Due from affiliates — 1,060 — — 1,060 Real estate inventories — 416,143 — — 416,143 Investment in and advances to unconsolidated joint ventures — 55,824 — — 55,824 Investment in subsidiaries 356,443 — — (356,443 ) — Other assets 8,464 15,827 — — 24,291 Total assets $ 593,917 $ 537,288 $ 188 $ (486,881 ) $ 644,512 Liabilities and equity Accounts payable $ 237 $ 23,479 $ 6 $ — $ 23,722 Accrued expenses and other liabilities 11,034 27,954 80 (1,014 ) 38,054 Intercompany payables — 129,414 — (129,414 ) — Due to affiliates — 10 — (10 ) — Senior notes, net 318,656 — — — 318,656 Total liabilities 329,927 180,857 86 (130,438 ) 380,432 Stockholders' equity 263,990 356,431 12 (356,443 ) 263,990 Non-controlling interest in subsidiary — — 90 — 90 Total equity 263,990 356,431 $ 102 (356,443 ) 264,080 Total liabilities and equity $ 593,917 $ 537,288 $ 188 $ (486,881 ) $ 644,512 SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Year Ended December 31, 2018 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 504,029 $ — $ — $ 504,029 Fee building — 163,537 — — 163,537 — 667,566 — — 667,566 Cost of Sales: Home sales — 436,508 22 — 436,530 Home sales impairments — 10,000 — — 10,000 Fee building — 159,136 — — 159,136 — 605,644 22 — 605,666 Gross Margin: Home sales — 57,521 (22 ) — 57,499 Fee building — 4,401 — — 4,401 — 61,922 (22 ) — 61,900 Selling and marketing expenses — (36,065 ) — — (36,065 ) General and administrative expenses 4,330 (30,293 ) (3 ) — (25,966 ) Equity in net loss of unconsolidated joint ventures — (19,653 ) — — (19,653 ) Equity in net loss of subsidiaries (17,372 ) — — 17,372 — Other income (expense), net (66 ) (455 ) — — (521 ) Pretax loss (13,108 ) (24,544 ) (25 ) 17,372 (20,305 ) (Provision) benefit for income taxes (1,108 ) 7,183 — — 6,075 Net loss (14,216 ) (17,361 ) (25 ) 17,372 (14,230 ) Net loss attributable to non-controlling interest in subsidiary — — 14 — 14 Net loss attributable to The New Home Company Inc. $ (14,216 ) $ (17,361 ) $ (11 ) $ 17,372 $ (14,216 ) Year Ended December 31, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 560,842 $ — $ — $ 560,842 Fee building — 190,324 — — 190,324 — 751,166 — — 751,166 Cost of Sales: Home sales — 473,181 32 — 473,213 Home sales impairments — 2,200 — — 2,200 Fee building — 184,827 — — 184,827 — 660,208 32 — 660,240 Gross Margin: Home sales — 85,461 (32 ) — 85,429 Fee building — 5,497 — — 5,497 — 90,958 (32 ) — 90,926 Selling and marketing expenses — (32,702 ) — — (32,702 ) General and administrative expenses (2,403 ) (23,927 ) — — (26,330 ) Equity in net income of unconsolidated joint ventures — 866 — — 866 Equity in net income of subsidiaries 21,773 — — (21,773 ) — Other income (expense), net 107 (336 ) — — (229 ) Pretax income (loss) 19,477 34,859 (32 ) (21,773 ) 32,531 Provision for income taxes (2,325 ) (13,065 ) — — (15,390 ) Net income (loss) 17,152 21,794 (32 ) (21,773 ) 17,141 Net loss attributable to non-controlling interest in subsidiary — — 11 — 11 Net income (loss) attributable to The New Home Company Inc. $ 17,152 $ 21,794 $ (21 ) $ (21,773 ) $ 17,152 Year Ended December 31, 2016 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 502,792 $ 5,157 $ — $ 507,949 Fee building — 186,662 — (155 ) 186,507 — 689,454 5,157 (155 ) 694,456 Cost of Sales: Home sales — 428,881 4,678 — 433,559 Home sales impairments — 2,350 — — 2,350 Land sales impairment — 1,150 — — 1,150 Fee building 2,240 175,863 — — 178,103 2,240 608,244 4,678 — 615,162 Gross Margin: Home sales — 71,561 479 — 72,040 Land sales — (1,150 ) — — (1,150 ) Fee building (2,240 ) 10,799 — (155 ) 8,404 (2,240 ) 81,210 479 (155 ) 79,294 Selling and marketing expenses — (26,058 ) (686 ) — (26,744 ) General and administrative expenses (14,719 ) (11,163 ) — — (25,882 ) Equity in net income of unconsolidated joint ventures — 7,691 — — 7,691 Equity in net income of subsidiaries 32,091 — — (32,091 ) — Other income (expense), net (119 ) (303 ) (142 ) 155 (409 ) Pretax income (loss) 15,013 51,377 (349 ) (32,091 ) 33,950 Benefit (provision) for income taxes 6,009 (19,033 ) — — (13,024 ) Net income (loss) 21,022 32,344 (349 ) (32,091 ) 20,926 Net loss attributable to non-controlling interest in subsidiary — — 96 — 96 Net income (loss) attributable to The New Home Company Inc. $ 21,022 $ 32,344 $ (253 ) $ (32,091 ) $ 21,022 SUPPLEMENTAL CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2018 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash used in operating activities $ (63,076 ) $ (71,789 ) $ (41 ) $ (4,779 ) $ (139,685 ) Investing activities: Purchases of property and equipment (49 ) (197 ) — — (246 ) Contributions and advances to unconsolidated joint ventures — (15,066 ) — — (15,066 ) Contributions to subsidiaries from corporate (249,435 ) — — 249,435 — Distributions of capital from subsidiaries 183,896 — — (183,896 ) — Distributions of capital and repayment of advances to unconsolidated joint ventures — 15,436 — — 15,436 Interest collected on advances to unconsolidated joint ventures — 178 — — 178 Net cash (used in) provided by investing activities $ (65,588 ) $ 351 $ — $ 65,539 $ 302 Financing activities: Borrowings from credit facility 150,000 — — — 150,000 Repayments of credit facility (82,500 ) — — — (82,500 ) Contributions to subsidiaries from corporate — 249,435 — (249,435 ) — Distributions to corporate from subsidiaries — (188,675 ) — 188,675 — Repurchase of common stock (8,563 ) — — — (8,563 ) Tax withholding paid on behalf of employees for stock awards (982 ) — — — (982 ) Net cash provided by financing activities $ 57,955 $ 60,760 $ — $ (60,760 ) $ 57,955 Net decrease in cash, cash equivalents and restricted cash (70,709 ) (10,678 ) (41 ) — (81,428 ) Cash, cash equivalents and restricted cash – beginning of period 99,586 24,196 188 — 123,970 Cash, cash equivalents and restricted cash – end of period $ 28,877 $ 13,518 $ 147 $ — $ 42,542 Year Ended December 31, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash used in operating activities $ (31,824 ) $ (41,900 ) $ (81 ) $ (17,058 ) $ (90,863 ) Investing activities: Purchases of property and equipment (71 ) (124 ) — — (195 ) Cash assumed from joint venture at consolidation — 995 — — 995 Contributions and advances to unconsolidated joint ventures — (27,479 ) — — (27,479 ) Contributions to subsidiaries from corporate (275,794 ) — — 275,794 — Distributions of capital from subsidiaries 192,478 — — (192,478 ) — Distributions of capital and repayment of advances to unconsolidated joint ventures — 15,577 — — 15,577 Interest collected on advances to unconsolidated joint ventures — 552 — — 552 Net cash used in investing activities $ (83,387 ) $ (10,479 ) $ — $ 83,316 $ (10,550 ) Financing activities: Borrowings from credit facility 88,000 — — — 88,000 Repayments of credit facility (206,000 ) — — — (206,000 ) Proceeds from senior notes 324,465 — — — 324,465 Repayments of other notes payable — (4,110 ) — — (4,110 ) Payment of debt issuance costs (7,565 ) — — — (7,565 ) Contributions to subsidiaries from corporate — 275,794 — (275,794 ) — Distributions to corporate from subsidiaries — (209,536 ) — 209,536 — Tax withholding paid on behalf of employees for stock awards (590 ) — — — (590 ) Proceeds from exercise of stock options 102 — — — 102 Net cash provided by financing activities $ 198,412 $ 62,148 $ — $ (66,258 ) $ 194,302 Net increase (decrease) in cash, cash equivalents and restricted cash 83,201 9,769 (81 ) — 92,889 Cash, cash equivalents and restricted cash – beginning of period 16,385 14,427 269 — 31,081 Cash, cash equivalents and restricted cash – end of period $ 99,586 $ 24,196 $ 188 $ — $ 123,970 Year Ended December 31, 2016 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash (used in) provided by operating activities $ (7,041 ) $ (12,149 ) $ 3,272 $ (26,894 ) $ (42,812 ) Investing activities: Purchases of property and equipment (193 ) (246 ) — — (439 ) Cash assumed from joint venture at consolidation — 2,610 — — 2,610 Contributions and advances to unconsolidated joint ventures — (15,088 ) — — (15,088 ) Contributions to subsidiaries from corporate (225,169 ) — — 225,169 — Distributions of capital from subsidiaries 189,392 725 — (190,117 ) — Distributions of capital from unconsolidated joint ventures — 15,307 — — 15,307 Net cash (used in) provided by investing activities $ (35,970 ) $ 3,308 $ — $ 35,052 $ 2,390 Financing activities: Borrowings from credit facility 223,050 — — — 223,050 Repayments of credit facility (179,974 ) — — — (179,974 ) 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 non-controlling interest in subsidiary — — (725 ) — (725 ) Contributions to subsidiaries from corporate — 225,169 — (225,169 ) — Distributions to corporate from subsidiaries — (216,286 ) (725 ) 217,011 — Tax withholding paid on behalf of employees for stock awards (648 ) — — — (648 ) Excess income tax provision from stock-based compensation (97 ) — — — (97 ) Net cash provided by (used in) financing activities $ 41,267 $ (4,252 ) $ (3,608 ) $ (8,158 ) $ 25,249 Net decrease in cash, cash equivalents and restricted cash (1,744 ) (13,093 ) (336 ) — (15,173 ) Cash, cash equivalents and restricted cash – beginning of period 18,129 27,520 605 — 46,254 Cash, cash equivalents and restricted cash – end of period $ 16,385 $ 14,427 $ 269 $ — $ 31,081

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts have been eliminated upon consolidation. The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") as contained within the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC"). Unless the context otherwise requires, the terms "we", "us", "our" and "the Company" refer to the Company and its wholly owned subsidiaries, on a consolidated basis.
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying consolidated financial statements and notes. Accordingly, actual results could differ materially from these estimates.
Reclassifications	Reclassifications Certain items in the prior year consolidated financial statements have been reclassified to conform with current year presentation. These reclassifications have not changed the results of operations of prior periods. On January 1, 2018, the Company adopted Accounting Standards Update ("ASU") No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash ("ASU 2016-18") under the full retrospective method. As a result, the Company no longer presents transfers between cash and restricted cash in the consolidated statements of cash flows. Instead, restricted cash is included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the consolidated statements of cash flows. The adoption of ASU 2016-18 also caused a reclassification on the statement of cash flows for cash assumed from joint venture at consolidation for the year ended December 31, 2016. For additional detail on restricted cash, please see Restricted Cash below.
Segment Reporting	Segment Reporting 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 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 $0.3 million and $0.4 million as of December 31, 2018 and 2017 , 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 nonrefundable 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 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 future undiscounted cash flows of the project are more or less than the asset’s carrying value. If the estimated future undiscounted cash flows exceed the asset’s carrying value, no impairment adjustment is required. However, if the estimated future undiscounted cash flows are less than the asset’s carrying value then the asset is impaired. If the asset is deemed impaired, it is written down to its fair value in accordance with ASC 820, Fair Value Measurements and Disclosures ("ASC 820"). When estimating undiscounted future cash flows of a project, we make various assumptions, including: (i) expected sales prices and sales incentives to be offered, including the number of homes available, pricing and incentives being offered by us or other builders in other projects, and future sales price adjustments based on market and economic trends; (ii) expected sales pace and cancellation rates based on local housing market conditions, competition and historical trends; (iii) costs expended to date and expected to be incurred including, but not 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 and the level of time sensitive costs (such as indirect construction, overhead and carrying 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 change over time. If a real estate asset is deemed impaired, the impairment is calculated by determining the amount the asset's carrying value exceeds its fair value in accordance with ASC 820. We calculate the fair value of real estate inventories considering a land residual value analysis and a discounted cash flow analysis. 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. Some of the critical assumptions involved with measuring the asset's fair value include estimating future revenues, sales absorption rates, development and construction costs, and other applicable project 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 years ended December 31, 2018 , 2017 and 2016 , we recorded inventory impairments of $10.0 million , $2.2 million and $3.5 million , respectively. For additional detail regarding these impairment charges, 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. In instances where the Company purchases land from an unconsolidated joint venture, the pro rata share of interest capitalized to investment in unconsolidated joint ventures is added to the basis of the land acquired and recognized as a cost of sale upon the delivery of the related land to a third-party buyer. 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 Effective January 1, 2018, we adopted the requirements of ASU 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASC 606") under the modified retrospective method. For additional detail on the new standard and the impact to our consolidated financial statements, refer to "Recently Issued Accounting Standards" below. Under ASC 606, we recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To do this, the Company performs the following five steps as outlined in ASC 606: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. Home Sales and Profit Recognition In accordance with ASC 606, home sales revenue is recognized when our performance obligations within the underlying sales contracts are fulfilled. We consider our obligations fulfilled when closing conditions are complete, title has transferred to the homebuyer, and collection of the purchase price is reasonably assured. Sales incentives are recorded as 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 related revenue and profit are deferred for recognition in future periods. For periods prior to January 1, 2018, the company recognized home sales and other real estate sales revenue in accordance with ASC 360. Under ASC 360, revenue from home sales and other real estate sales was recorded and a profit was recognized when the sales process was complete under the full accrual method. The sales process was considered complete for home sales and other real estate sales when all conditions of escrow were met, including delivery of the home or other real estate asset, title passes, appropriate consideration is received and collection of associated receivables, if any, was reasonably assured. Fee Building The Company enters into fee building agreements to provide services whereby it builds homes on behalf of third-party property owners. The 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 third-party property owners for all direct and indirect costs plus a fee. The fee is typically a per-unit fixed fee or based on a percentage of the cost or home sales revenue of the project, depending on the terms of the agreement with the third-party property owner. For these types of contracts, the Company recognizes revenue based on the actual total costs it has incurred plus the applicable fee. In accordance with ASC 606 for periods after January 1, 2018 and ASC 605, Revenue Recognition ("ASC 605") for prior periods, we apply the percentage-of-completion method, using the cost-to-cost approach, as it most accurately measures the progress of our efforts in satisfying our obligations within the fee building agreements. Under this approach, revenue is earned in proportion to total costs incurred divided by total costs expected to be incurred. In the course of providing fee building 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 GAAP, are included in the Company’s revenues and cost of sales. The Company also provides construction management and coordination services and sales and marketing services as part of agreements with third parties and its unconsolidated joint ventures. In certain contracts, the Company also provides project management and administrative services. For most services provided, the Company fulfills its related obligations as time-based measures, according to the input method guidance described in ASC 606. Accordingly, revenue is recognized on a straight-line basis as the Company's efforts are expended evenly throughout the performance period. The Company may also have an obligation to manage the home or lot sales process as part of providing sales and marketing services. This obligation is considered fulfilled when related homes or lots close escrow, as these events represent milestones reached according to the output method guidance described in ASC 606. Accordingly, revenue is recognized in the period that the corresponding lots or homes close escrow. Costs associated with these services are recognized as incurred. Prior to the adoption of ASC 606, the Company recognized revenues from these services in accordance with ASC 605 under a proportional performance method or completed performance method. Under ASC 605, revenue was earned as services were provided in proportion to total services expected to be provided to the customer or on a straight-line basis if the pattern of performance could not be determined.
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 non-controlling equity holders) lack both substantive participating rights and substantive kick-out rights, defined as follows: • Participating rights - provide the non-controlling equity holders the ability to direct significant financial and operational decision made in the ordinary course of business that most significantly influence the entity's economic performance. • Kick-out rights - allow the non-controlling equity holders to remove the general partner or managing member without cause. If we conclude that any of the three 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 nonrefundable 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 nonrefundable deposit, a VIE may have been created.
Noncontrolling Interest	Non-controlling 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 when any of the following situations exist: 1) the joint venture qualifies as a VIE and we are not the primary beneficiary, 2) we do not control the joint venture but have the ability to exercise significant influence over its operating and financial policies, or 3) we function as the managing member or general partner of the joint venture and our joint venture partner has substantive participating rights or can replace us as managing member or general partner without cause. As of December 31, 2018 , 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 with an exception for the requirements of ASC 606, which our joint ventures had not adopted at December 31, 2018 . We review real estate inventory held by our unconsolidated joint ventures for impairment, consistent with how we review our real estate inventories as described in more detail above in the section entitled "Real Estate Inventories and Cost of Sales." For the years ended December 31, 2018 , 2017 and 2016 , our unconsolidated joint ventures recorded noncash impairment charges of $28.8 million , $0 and $0 , respectively, of which $18.9 million , $0 and $0 , respectively, was allocated to the Company. We also review our investments in and advances to unconsolidated joint ventures for evidence of other-than-temporary declines in value in accordance with ASC 820 . 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.
Selling and Marketing Expense	Selling and Marketing Expense Effective January 1, 2018, costs incurred for tangible assets directly used in the sales process such as our sales offices, design studios and model landscaping and furnishings are capitalized to other assets in the accompanying consolidated balance sheets under ASC 340, Other Assets and Deferred Costs ("ASC 340"). These costs are depreciated to selling and marketing expenses generally over the shorter of 30 months or the actual estimated life of the selling community. All other selling and marketing costs, such as commissions and advertising, are expensed as incurred. Prior to January 1, 2018, the Company followed the guidance under ASC 970-340, Real Estate - Other Assets and Deferred Costs ("ASC 970") , and capitalized certain selling and marketing costs to other assets in the consolidated balance sheet if the costs were reasonably expected to be recovered from the sale of the project or from incidental operations, and were incurred for tangible assets that were used directly through the selling period to aid in the sale of the project or services that had been performed to obtain regulatory approval of sales. These capitalizable selling and marketing costs included, but were not limited to, model home design, model home decor and landscaping, and sales office/design studio setup. These costs were amortized to selling and marketing expense as the underlying homes were delivered.
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 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 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 consolidated balance sheets.
Property, Equipment and Capitalized Selling and Marketing Costs	Property, Equipment and Capitalized Selling and Marketing Costs Property, equipment and capitalized selling and marketing costs are recorded at cost and included in other assets in the accompanying consolidated balance sheets. Property and equipment are depreciated to general and administrative expenses using the straight-line method over their estimated useful lives ranging from three to five years. Leasehold improvements are stated at cost and are amortized to general and administrative expenses using the straight-line method generally over the shorter of either their estimated useful lives or the term of the lease. Capitalized selling and marketing costs are depreciated using the straight-line method to selling and marketing expenses over the shorter of either 30 months or the actual estimated life of the selling community.
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. Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than not (defined as a likelihood of more than 50%) unrealizable under ASC 740. We are required to establish a valuation allowance for any portion of the tax 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 net operating losses and tax credit carryforwards and the planning alternatives, to the extent these items are applicable. 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. At December 31, 2018 and 2017, no valuation allowance was recorded. 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, 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. At December 31, 2018 , the Company has concluded that there were no significant uncertain tax positions requiring recognition in its financial statements. The Company classifies any interest and penalties related to income taxes assessed as part of income tax expense. As of December 31, 2018 , the Company has not been assessed interest or penalties by any major tax jurisdictions related to any open tax periods. The Company classifies any interest and penalties related to income taxes assessed as part of income tax provision.
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 continued 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 accounted for their share-based awards in accordance with ASC 505-50 through March 31, 2018. ASC 505-50 required that these awards be accounted for prospectively, such that the fair value of the awards was 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 required 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. In June of 2018, the FASB issued ASU No. 2018-07, Improvements to Nonemployee Share-Based Payment Accounting ("ASU 2018-07") which expanded the scope of ASC 718 to include share-based payments for acquiring goods and services from nonemployees, with certain exceptions. Under ASC 718, the measurement date for equity-classified, share-based awards is generally the grant date of the award. The Company early adopted ASU 2018-07 on April 1, 2018, at which time Mr. Stelmar's award was the only nonemployee award outstanding. In accordance with the transition guidance, the Company assessed Mr. Stelmar's award for which a measurement date had not been established. The outstanding award was re-measured to fair value as of the April 1, 2018 adoption date. The adoption of ASU 2018-07 provides administrative relief by fixing the remaining unamortized expense of the award and eliminating the requirement to quarterly re-measure the Company's one remaining nonemployee award. The Company adopted this standard on a modified retrospective basis booking a cumulative-effect adjustment of an $18,000 increase to retained earnings and equal decrease to additional paid-in capital as of the beginning of the 2018 fiscal year. The remaining unamortized expense for Mr. Stelmar's award as of December 31, 2018 was $24,000 .
Share Repurchase and Retirement	Share Repurchase and Retirement When shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired to both retained earnings and additional paid-in capital. The portion allocated to additional paid-in capital is determined by applying a percentage, which is determined by dividing the number of shares to be retired by the number of shares issued, to the balance of additional paid-in capital as of the retirement date. The residual, if any, is allocated to retained earnings as of the retirement date. During the year ended December 31, 2018 , the Company repurchased and retired 1,003,116 shares of its common stock at an aggregate purchase price of $8.5 million . The shares were returned to the status of authorized but unissued.
Dividends	Dividends No dividends were paid on our common stock during the years ended December 31, 2018 , 2017 , and 2016. We currently intend to retain our future earnings to finance the development and expansion of our business and, therefore, do not intend to pay cash dividends on our common stock for the foreseeable future. Any future determination to pay dividends will be at the discretion of our board of directors and will depend on our financial condition, results of operations, capital requirements, compliance with Delaware law, restrictions contained in any financing instruments, including but not limited to, our unsecured credit facility and senior notes indenture, and such other factors as our board of directors deem relevant.
Employee Benefit Plan	Employee Benefit Plan We have a defined contribution plan pursuant to Section 401(k) of the Internal Revenue Code where each employee may elect to make befo re-tax or Roth contributions up to the current tax limits. The Company matches 50% of the employee's contribution on the first 8% of compensation up to a maximum match of $11,000 , on a discretionary basis.
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 FASB issued ASC 606, which supersedes existing accounting literature relating to how and when a company recognizes revenue. Under ASC 606, 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, ASC 606 supersedes existing industry-specific accounting literature relating to how a company expenses certain selling and marketing costs. Effective January 1, 2018, the Company adopted the requirements of ASC 606 using the modified retrospective approach. Under the modified retrospective approach, the Company recognized the cumulative effect of initially applying the new standard as a $3.4 million , tax-effected decrease to the opening balance of retained earnings as of January 1, 2018. The comparative information has not been restated and continues to be reported as it was previously, under the appropriate accounting standards in effect for those periods. The adjustment to retained earnings related to a $4.7 million write-down of certain recoverable selling and marketing costs included in other assets that were formerly capitalized under ASC 970, but that no longer qualify for capitalization under the Company's accounting policy reflecting the changes upon the adoption of ASC 606. As a result of this write-down, the Company's deferred tax asset increased by $1.3 million . For the year ended December 31, 2018, the Company expensed $0.1 million more in selling and marketing costs than it would have recognized as required by the previous guidance, ASC 970. In addition, the accounting policy change resulted in depreciation expense for capitalized selling and marketing assets to be included in the line item "depreciation and amortization" in the consolidated statement of cash flows for year ended December 31, 2018 compared to including the expense in the net change to other assets line item. The adoption of ASC 606 did not have a material impact on other areas of the Company's consolidated balance sheet, consolidated statement of operations or statement of cash flows for the year ended December 31, 2018. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) ("ASC 842"). ASC 842 will require organizations that lease assets (referred to as "lessees") to present lease assets and lease liabilities on the balance sheet at their gross value based on the the rights and obligations created by those leases. Under ASC 842, a lessee will be required to recognize assets and liabilities for leases with greater than 12 month terms. Lessor accounting remains substantially similar to current GAAP. Additional disclosures including qualitative and quantitative information regarding leasing activities are also required. ASC 842 is effective for interim and annual reporting periods beginning after December 15, 2018 and mandates a modified retrospective transition method. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842), Targeted Improvements ("ASU 2018-11") which provides for an additional transition method that allows companies to apply the new lease standard at the adoption date, eliminating the requirement to apply the standard to the earliest period presented in the financial statements. The Company's lease agreements that will be impacted by ASC 842 primarily relate to our corporate headquarters, several other office locations and office or construction equipment where we are the lessee. We believe all applicable agreements would be considered operating leases. Upon adoption of ASC 842, we expect to add a right-of-use asset and a related lease liability to our consolidated balance sheets. We expect to recognize lease expense on a straight-line basis with a portion of the expense recorded as amortization of the right-of-use asset and the balance recorded as interest expense or capitalized interest to real estate inventories, if applicable. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). Subsequently, in November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments-Credit Losses . ASU 2016-13 changes the impairment model for most financial assets and certain other instruments from an "incurred loss" approach to a new "expected credit loss" methodology. The standard is effective for annual and interim periods beginning January 1, 2020, with early adoption permitted, and requires full retrospective application upon adoption. The Company is currently evaluating the impact of these standards and expects no material impact to its consolidated financial statements as a result of adoption. 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. Our adoption of ASU 2016-15 on January 1, 2018, did not have an impact on our consolidated financial statements and disclosures as the Company had previously classified cash distributions received from equity method investees using the cumulative earnings approach. 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. We adopted ASU 2017-05 on January 1, 2018 under the modified retrospective approach. There was no effect of initially applying the new standard and there was no impact to our consolidated financial statements. 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. We adopted ASU 2017-09 on January 1, 2018 and its adoption did not have an impact on our consolidated financial statements. In March 2018, the FASB issued ASU 2018-05, Income Taxes (Topic 740) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 ("ASU 2018-05"), which amends Income Taxes (Topic 740) by incorporating the Securities and Exchange Commission’s (“SEC”) Staff Accounting Bulletin 118 (“SAB 118”) issued on December 22, 2017. SAB 118 provides guidance on accounting for the effects of the Tax Cuts and Jobs Act of 2017 (the “Tax Act”). We recognized the income tax effects of the Tax Act in our 2017 financial statements in accordance with SAB 118. Please see Note 14. In June 2018, the FASB issued ASU 2018-07, which was adopted by the Company on April 1, 2018 using the modified retrospective basis and resulted in a cumulative-effect adjustment of an $18,000 increase to retained earnings and an equal decrease to additional paid-in capital as of the beginning of the 2018 fiscal year. For further discussion of our adoption of this ASU, see “Stock-Based Compensation.” In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"). The amendments in ASU 2018-13 modify certain disclosure requirements of fair value measurements and are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2018-13 and expects no material impact to the consolidated financial statements as a result of adoption.

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies Summary of cash, cash equivalents, and restricted cash (Tables)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of cash, cash equivalents and restricted cash	The table below shows the line items and amounts of cash and cash equivalents and restricted cash as reported within the Company's consolidated balance sheets for each period shown that sum to the total of the same such amounts at the end of the periods shown in the accompanying consolidated statements of cash flows. Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Cash and cash equivalents $ 42,273 $ 123,546 $ 30,496 Restricted cash 269 424 585 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 42,542 $ 123,970 $ 31,081

Computation of Earnings Per S_2

Computation of Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2018
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 per share for the years ended December 31, 2018 , 2017 and 2016 : Year Ended December 31, 2018 2017 2016 (Dollars in thousands, except per share amounts) Numerator: Net income (loss) attributable to The New Home Company Inc. $ (14,216 ) $ 17,152 $ 21,022 Denominator: Basic weighted-average shares outstanding 20,703,967 20,849,736 20,685,386 Effect of dilutive shares: Stock options and unvested restricted stock units — 145,762 106,059 Diluted weighted-average shares outstanding 20,703,967 20,995,498 20,791,445 Basic earnings (loss) per share attributable to The New Home Company Inc. $ (0.69 ) $ 0.82 $ 1.02 Diluted earnings (loss) per share attributable to The New Home Company Inc. $ (0.69 ) $ 0.82 $ 1.01 Antidilutive stock options and unvested restricted stock units not included in diluted earnings per share 1,311,802 7,074 849,977

Contracts and Accounts Receiv_2

Contracts and Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Schedule of contracts and accounts receivables	Contracts and accounts receivable consist of the following: December 31, 2018 2017 (Dollars in thousands) Contracts receivable: Costs incurred on fee building projects $ 159,136 $ 184,827 Estimated earnings 4,401 5,497 163,537 190,324 Less: amounts collected during the period (154,743 ) (178,704 ) Contracts receivable $ 8,794 $ 11,620 Contracts receivable: Billed $ — $ — Unbilled 8,794 11,620 8,794 11,620 Accounts receivable: Escrow receivables 8,787 11,554 Other receivables 684 50 Contracts and accounts receivable $ 18,265 $ 23,224

Real Estate Inventories (Tables

Real Estate Inventories (Tables)	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Summary of real estate inventories	Real estate inventories are summarized as follows: December 31, 2018 2017 (Dollars in thousands) Deposits and pre-acquisition costs $ 20,726 $ 35,846 Land held and land under development 115,987 47,757 Homes completed or under construction 380,956 302,884 Model homes 48,621 29,656 $ 566,290 $ 416,143
Inventory Impairments	The following table summarizes inventory impairments recorded during the years ended December 31, 2018 , 2017 and 2016 : Year Ended December 31, 2018 2017 2016 (Dollars in Thousands) Inventory impairments: Home sales $ 10,000 $ 2,200 $ 2,350 Land sales — — 1,150 Total inventory impairments $ 10,000 $ 2,200 $ 3,500 Remaining carrying value of inventory impaired at year end $ 57,845 $ 5,921 $ 30,225 Number of projects impaired during the year 2 1 3 Total number of projects subject to periodic impairment review during the year (1) 26 26 27 (1) Represents the peak number of real estate projects that we had during each respective year. The number of projects outstanding at the end of each year may be less than the number of projects listed herein.

Capitalized Interest (Tables)

Capitalized Interest (Tables)	12 Months Ended
	Dec. 31, 2018
Capitalized Interest [Abstract]
Summary of interest incurred, capitalized, and expensed	For the years ended December 31, 2018 , 2017 and 2016 interest incurred, capitalized and expensed was as follows: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Interest incurred $ 28,377 $ 21,978 $ 7,484 Interest capitalized to inventory (27,393 ) (20,394 ) (7,484 ) Interest capitalized to investment in unconsolidated joint ventures (984 ) (1,584 ) — Interest expensed $ — $ — $ — Capitalized interest in beginning inventory $ 16,453 $ 6,342 $ 4,190 Interest capitalized as a cost of inventory 27,393 20,394 7,484 Capitalized interest acquired from unconsolidated joint ventures at consolidation — 738 — Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition 513 — — Contribution to unconsolidated joint ventures — — (1 ) Previously capitalized interest included in cost of home sales (18,678 ) (11,021 ) (5,331 ) Capitalized interest in ending inventory $ 25,681 $ 16,453 $ 6,342 Capitalized interest in beginning investment in unconsolidated joint ventures $ 1,472 $ — $ — Interest capitalized to investment in unconsolidated joint ventures 984 1,584 — Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon consolidation — (76 ) — Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition (513 ) — — Previously capitalized interest included in equity in net income (loss) of unconsolidated joint ventures (1,230 ) (36 ) — Capitalized interest in ending investment in unconsolidated joint ventures $ 713 $ 1,472 $ — Total capitalized interest in ending inventory and investments in unconsolidated joint ventures $ 26,394 $ 17,925 $ 6,342 Capitalized interest as a percentage of inventory 4.5 % 4.0 % 2.2 % Interest included in cost of home sales as a percentage of home sales revenue 3.7 % 2.0 % 1.1 % Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures 2.1 % 2.6 % — %

Unconsolidated Joint Ventures (

Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Joint Venture Impairment [Table Text Block]	The table below summarizes inventory impairments recorded by our unconsolidated joint ventures during the years ended December 31, 2018 , 2017 and 2016 : Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Joint venture impairments related to: Homebuilding joint ventures $ — $ — $ — Land development joint ventures 28,776 — — Total joint venture impairments $ 28,776 $ — $ — Number of projects impaired during the year 1 — — Total number of projects included in unconsolidated joint ventures and reviewed for impairment during the year 10 10 13
Schedule of summarized financial information of unconsolidated joint ventures	The condensed combined statements of operations for our unconsolidated joint ventures accounted for under the equity method were as follows: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Revenues $ 181,623 $ 147,447 $ 233,219 Cost of sales and expenses 209,527 147,976 207,028 Net income (loss) of unconsolidated joint ventures $ (27,904 ) $ (529 ) $ 26,191 Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations $ (19,653 ) $ 866 $ 7,691 For the year ended December 31, 2018, the loss allocation from the Company's TNHC Russell Ranch LLC ("Russell Ranch") unconsolidated joint venture exceeded 20% of the Company's consolidated net loss. As a smaller reporting company, we are not subject to the provisions of Rule 3-09 of Regulation S-X, however, the table below presents select financial information for the Russell Ranch joint venture as prescribed by Rule 8-03(b)(3) of Regulation S-X: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Revenues $ 24,632 $ — $ — Cost of sales: Land sales 24,510 — — Inventory impairments 28,776 — — Gross Margin (28,654 ) — — Expenses (1,149 ) (920 ) (361 ) Net loss $ (29,803 ) $ (920 ) $ (361 ) Equity in net income (loss) of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations (1) $ (20,219 ) $ (372 ) $ (264 ) The condensed combined balance sheets for our unconsolidated joint ventures accounted for under the equity method were as follows: December 31, 2018 2017 (Dollars in thousands) Cash and cash equivalents $ 45,945 $ 30,017 Restricted cash 19,205 15,041 Real estate inventories 374,607 396,850 Other assets 4,231 3,942 Total assets $ 443,988 $ 445,850 Accounts payable and accrued liabilities $ 43,158 $ 34,959 Notes payable 71,299 78,341 Total liabilities 114,457 113,300 The New Home Company's equity 33,617 50,523 Other partners' equity 295,914 282,027 Total equity 329,531 332,550 Total liabilities and equity $ 443,988 $ 445,850 Debt-to-capitalization ratio 17.8 % 19.1 % Debt-to-equity ratio 21.6 % 23.6 %

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Other Assets [Abstract]
Schedule of other assets	Other assets consist of the following: December 31, 2018 2017 (Dollars in thousands) Property, equipment and capitalized selling and marketing costs, net (1)(2) $ 11,738 $ 603 Deferred tax asset, net 13,937 6,317 Prepaid income taxes 514 — Prepaid expenses 6,348 4,937 Warranty insurance receivable (3) 915 1,202 Capitalized selling and marketing costs (1)(4) — 11,232 $ 33,452 $ 24,291 (1) Under the adoption of the requirements of ASC 606 on January 1, 2018, certain selling and marketing costs that were previously capitalized under former accounting guidance were written off. For the current year, remaining selling and marketing costs and those incurred during 2018 that are permitted to be capitalized under ASC 340 are included as "Property, equipment and capitalized selling and marketing costs, net" within "Other Assets." Under the modified retrospective adoption approach, the December 31, 2017 balance has not been restated. For more information on the adoption of ASC 606, please refer to Note 1. (2) The Company depreciated $6.2 million of capitalized selling and marketing costs to selling and marketing expenses during the year ended December 31, 2018 . The Company depreciated $0.4 million , $0.4 million and $0.5 million of property and equipment to general and administrative expenses during the years ended December 31, 2018, 2017 and 2016, respectively. (3) Of the $1.2 million amount for December 31, 2017, approximately $0.6 million related to 2016 estimated warranty insurance recoveries. For further discussion, please see Note 8. (4) The Company amortized $11.3 million and $9.2 million of capitalized selling and marketing costs to selling and marketing expenses during the years ended December 31, 2017 and 2016, respectively.

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Schedule of accrued liabilities and other liabilities	Accrued expenses and other liabilities consist of the following: December 31, 2018 2017 (Dollars in thousands) Warranty accrual (1) $ 6,898 $ 6,859 Accrued compensation and benefits 5,749 9,164 Accrued interest 6,497 6,217 Completion reserve 4,192 5,792 Income taxes payable — 6,368 Deferred profit from unconsolidated joint ventures — 136 Other accrued expenses 5,692 3,518 $ 29,028 $ 38,054 (1) Included in the amount for 2018 is approximately $0.9 million of additional warranty liabilities estimated to be covered by our insurance policies. Included in the amount for 2017 is approximately $1.2 million of additional warranty liabilities estimated to be covered by our insurance policies that were adjusted to present the warranty reserves and related estimated warranty insurance receivable on a gross basis at December 31, 2017. Of $1.2 million of this amount, approximately $0.6 million related to 2016 estimated warranty insurance recoveries.
Schedule of changes in warranty accrual	Changes in our warranty accrual are detailed in the table set forth below: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Beginning warranty accrual for homebuilding projects $ 6,634 $ 4,608 $ 3,846 Warranty provision for homebuilding projects 2,330 1,825 1,921 Warranty assumed from joint ventures at consolidation — 781 469 Warranty payments for homebuilding projects (2,006 ) (989 ) (563 ) Adjustment to warranty accrual (1) (277 ) 409 (1,065 ) Ending warranty accrual for homebuilding projects 6,681 6,634 4,608 Beginning warranty accrual for fee building projects 225 323 335 Warranty provision for fee building projects — — — Warranty efforts for fee building projects (70 ) (3 ) (12 ) Adjustment to warranty accrual for fee building projects (2) 62 (95 ) — Ending warranty accrual for fee building projects 217 225 323 Total ending warranty accrual $ 6,898 $ 6,859 $ 4,931 (1) Included in the amount for 2017 is approximately $1.2 million of additional warranty liabilities estimated to be covered by our insurance policies that were adjusted to present the warranty reserves and related estimated warranty insurance receivable on a gross basis at December 31, 2017. Of the $1.2 million adjusted in 2017, approximately $0.6 million related to prior year estimated warranty insurance recoveries. During 2018, the estimated amount to be covered by our insurance policies was reduced by $0.3 million . Netted against the amount recorded in 2017 is a warranty accrual adjustment of $0.8 million related to a lower experience rate of expected warranty expenditures. Netted against the amount recorded in 2018 is a warranty accrual adjustment of $43,000 related to higher expected warranty expenditures. (2) During 2018, the estimated amount to be covered by our insurance policies was increased by approximately $32,000 . Netted with this amount is a warranty accrual adjustment of approximately $30,000 related to higher expected warranty expenditures.

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of notes payable	Notes payable consisted of the following: December 31, 2018 2017 (Dollars in thousands) 7.25% Senior Notes due 2022, net $ 320,148 $ 318,656 Unsecured revolving credit facility 67,500 — Total Notes Payable $ 387,648 $ 318,656
Schedule of Maturities of Long-term Debt [Table Text Block]	Notes payable have stated maturities as follows for the years ending December 31 (dollars in thousands): 2019 $ — 2020 67,500 2021 — 2022 325,000 2023 — $ 392,500

Fair Value Disclosures Fair Val

Fair Value Disclosures Fair Value Disclosure (Tables)	12 Months Ended
	Dec. 31, 2018
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 Notes and Credit Facility. The Notes are classified as Level 2 and primarily reflect estimated prices obtained from outside pricing sources. The Company's Credit Facility is classified as Level 3 within the fair value hierarchy. The Company had an outstanding balance of $67.5 million under its Credit Facility at December 31, 2018 , and the estimated fair value of the outstanding balance approximated the carrying value due to the short-term nature of LIBOR contracts. December 31, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value (dollars in thousands) 7.25% Senior Notes due 2022, net (1) $ 320,148 $ 292,500 $ 318,656 $ 336,375 Unsecured revolving credit facility $ 67,500 $ 67,500 $ — $ — (1) The carrying value for the Senior Notes, as presented at December 31, 2018 , is net of the unamortized discount of $1.7 million , unamortized premium of $1.3 million , and unamortized debt issuance costs of $4.5 million . The carrying value of the Senior Notes, as presented at December 31, 2017 , is net of the unamortized discount of $2.2 million , unamortized premium of $1.8 million , and unamortized debt issuance costs of $5.9 million . The unamortized discount, unamortized premium and debt issuance costs are not factored into the estimated fair value.

Commitments and Contingencies C

Commitments and Contingencies Commitments and contingencies (tables) (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	As of December 31, 2018 , the future minimum lease payments under non-cancelable operating leases, primarily associated with our office facilities, are as follows (dollars in thousands): 2019 $ 1,739 2020 1,266 2021 322 2022 — 2023 — Thereafter — $ 3,327

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2018
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 years ended December 31, 2018 , 2017 and 2016 is presented below: Year Ended December 31, 2018 2017 2016 Number of Shares Weighted-Average Exercise Price per Share Number of Shares Weighted-Average Exercise Price per Share Number of Shares Weighted-Average Exercise Price per Share Outstanding Stock Option Activity Outstanding, beginning of period 826,498 $ 11.00 835,786 $ 11.00 840,298 $ 11.00 Granted — $ — — $ — — $ — Exercised — $ — (9,288 ) $ 11.00 — $ — Forfeited (5,028 ) $ 11.00 — $ — (4,512 ) $ 11.00 Outstanding, end of period 821,470 $ 11.00 826,498 $ 11.00 835,786 $ 11.00 Exercisable, end of period 821,470 $ 11.00 826,498 $ 11.00 42,042 $ 11.00
Summary of restricted stock units	A summary of the Company’s restricted stock unit activity as of and for the years ended December 31, 2018 , 2017 and 2016 is presented below: Year Ended December 31, 2018 2017 2016 Number of Shares Weighted-Average Grant-Date Fair Value per Share Number of Shares Weighted-Average Grant-Date Fair Value per Share Number of Shares Weighted-Average Grant-Date Fair Value per Share Restricted Stock Unit Activity Outstanding, beginning of period 562,082 $ 10.72 474,989 $ 10.66 308,386 $ 14.20 Granted 179,268 $ 11.24 343,933 $ 10.84 414,045 $ 10.05 Vested (271,875 ) $ 11.02 (211,475 ) $ 10.76 (231,633 ) $ 14.22 Forfeited (248 ) $ 10.05 (45,365 ) $ 10.79 (15,809 ) $ 11.62 Outstanding, end of period 469,227 $ 10.75 562,082 $ 10.72 474,989 $ 10.66
Summary of performance share units	A summary of the Company’s performance share unit activity as of and for the years ended ended December 31, 2018 is presented below: Year Ended December 31, 2018 Number of Shares Weighted-Average Grant-Date Fair Value per Share Performance Share Unit Activity Outstanding, beginning of period — $ — Granted (at target) 125,422 $ 11.68 Vested — $ — Forfeited — $ — Outstanding, end of period (at target) 125,422 $ 11.68
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 consolidated statements of operations, was as follows: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Expense related to: Stock options $ — $ 11 $ 1,054 Restricted stock units and performance share units 3,090 2,792 2,417 $ 3,090 $ 2,803 $ 3,471
Schedule of valuation assumptions	The following table presents details of the assumptions used to calculate the re-measurement date fair value of common stock options granted to Mr. Davis by the Company in accordance with ASC 505-50 as discussed in Note 1. Mr Davis' stock options fully vested on January 30, 2017 and were fully expensed. The below reflects fair value assumptions at January 30, 2017. Period Ended January 30, Year Ended December 31, 2017 2016 Expected term (in years) 1.0 1.1 Expected volatility 34.9 % 36.7 % Risk-free interest rate 0.8 % 0.9 % Expected dividends — — Re-measurement date fair value per share $ 1.32 $ 2.14

Income Taxes Income Tax (Tables

Income Taxes Income Tax (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Line Items]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The provision (benefit) for income taxes includes the following: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Current provision (benefit) for income taxes: Federal $ (67 ) $ 10,243 $ 10,321 State 304 3,030 3,375 237 13,273 13,696 Deferred provision (benefit) for income taxes: Federal (4,208 ) 2,341 (506 ) State (2,104 ) (224 ) (166 ) (6,312 ) 2,117 (672 ) Provision (benefit) for income taxes $ (6,075 ) $ 15,390 $ 13,024
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The effective tax rate differs from the federal statutory rate of 21% for the year ended December 31, 2018 and 35% for the years ended December 31, 2017 and 2016, due to the following items: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Income (loss) before taxes of taxable entities $ (20,305 ) $ 32,531 $ 33,950 (Provision) benefit for income taxes at federal statutory rate $ 4,264 $ (11,386 ) $ (11,883 ) (Increases) decreases in tax resulting from: Provisional rate adjustment - tax reform 148 (3,190 ) — State income taxes, net of federal benefit 1,396 (1,860 ) (1,977 ) Manufacturing deduction — 958 1,142 Return to provision difference 388 159 (145 ) Other (121 ) (71 ) (161 ) (Provision) benefit for income taxes $ 6,075 $ (15,390 ) $ (13,024 ) Effective tax rate 29.9 % 47.3 % 38.4 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The components of our deferred income tax asset, net are as follows: December 31, 2018 2017 (Dollars in thousands) State taxes $ 74 $ 633 Reserves and accruals 2,258 1,893 Intangible assets 28 207 Share based compensation 1,594 1,585 Inventory 3,699 627 Investments in joint ventures 6,318 1,411 Depreciation and amortization (34 ) (39 ) Deferred tax asset, net $ 13,937 $ 6,317

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Schedule of financial information related to reportable segments	Financial information relating to reportable segments was as follows: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Revenues: Homebuilding $ 504,029 $ 560,842 $ 507,949 Fee building, including management fees 163,537 190,324 186,507 Total $ 667,566 $ 751,166 $ 694,456 Pretax income (loss): Homebuilding $ (24,706 ) $ 27,034 $ 25,546 Fee building, including management fees 4,401 5,497 8,404 Total $ (20,305 ) $ 32,531 $ 33,950 December 31, 2018 2017 (Dollars in thousands) Assets: Homebuilding $ 685,218 $ 631,087 Fee building 10,879 13,425 Total $ 696,097 $ 644,512

Results of Quarterly Operatio_2

Results of Quarterly Operations (Tables)	12 Months Ended
	Dec. 31, 2018
Results of Quarterly Operations [Abstract]
Quarterly Financial Information [Table Text Block]	First Quarter Second Quarter Third Quarter Fourth Quarter Total (Dollars in thousands, except per share amounts) 2018 Home sales revenue $ 79,437 $ 117,460 $ 119,874 $ 187,258 $ 504,029 Cost of home sales 69,694 102,678 102,124 162,034 436,530 Home sales impairments — — — 10,000 10,000 Homebuilding gross margin $ 9,743 $ 14,782 $ 17,750 $ 15,224 $ 57,499 Fee building revenue $ 43,794 $ 38,095 $ 39,240 $ 42,408 $ 163,537 Cost of fee building 42,699 37,038 38,124 41,275 159,136 Fee building gross margin $ 1,095 $ 1,057 $ 1,116 $ 1,133 $ 4,401 Pretax income (loss) $ (1,511 ) $ 182 $ 3,400 $ (22,376 ) $ (20,305 ) Net income (loss) attributable to The New Home Company Inc. $ (640 ) $ 115 $ 2,459 $ (16,150 ) $ (14,216 ) Basic earnings (loss) per share attributable to The New Home Company Inc. (1) $ (0.03 ) $ 0.01 $ 0.12 $ (0.80 ) $ (0.69 ) Diluted earnings (loss) per share attributable to The New Home Company Inc. (1) $ (0.03 ) $ 0.01 $ 0.12 $ (0.80 ) $ (0.69 ) 2017 Home sales revenue $ 69,406 $ 96,929 $ 114,622 $ 279,885 $ 560,842 Cost of home sales 60,065 82,488 95,992 234,668 473,213 Home sales impairments — 1,300 — 900 2,200 Homebuilding gross margin $ 9,341 $ 13,141 $ 18,630 $ 44,317 $ 85,429 Fee building revenue $ 55,617 $ 47,181 $ 43,309 $ 44,217 $ 190,324 Cost of fee building 53,926 45,899 41,808 43,194 184,827 Fee building gross margin $ 1,691 $ 1,282 $ 1,501 $ 1,023 $ 5,497 Pretax income $ 1,360 $ 2,505 $ 6,974 $ 21,692 $ 32,531 Net income attributable to The New Home Company Inc. $ 846 $ 1,517 $ 4,318 $ 10,471 $ 17,152 Basic earnings per share attributable to The New Home Company Inc. (1) $ 0.04 $ 0.07 $ 0.21 $ 0.50 $ 0.82 Diluted earnings per share attributable to The New Home Company Inc. (1) $ 0.04 $ 0.07 $ 0.21 $ 0.50 $ 0.82 (1) Some amounts do not add to our full year results presented on our consolidated statement of operations due to rounding differences in quarterly and annual weighted average share calculations

Supplemental Discloure of Cas_2

Supplemental Discloure of Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	Supplemental Disclosure of Cash Flow Information The following table presents certain supplemental cash flow information: Year Ended December 31, 2018 2017 2016 (Dollars in thousands) Supplemental disclosures of cash flow information Interest paid, net of amounts capitalized $ — $ — $ — Income taxes paid $ 7,110 $ 14,050 $ 13,670 Supplemental disclosures of non-cash transactions Contribution of real estate to unconsolidated joint ventures $ — $ — $ 798 Assets assumed from unconsolidated joint ventures $ — $ 26,613 $ 46,811 Liabilities and equity assumed from unconsolidated joint ventures $ — $ 27,608 $ 47,197

Supplemental Guarantor Inform_2

Supplemental Guarantor Information (Tables)	12 Months Ended
	Dec. 31, 2018
Supplemental Guarantor Information [Abstract]
Supplemental Condensed Consolidating Balance Sheet [Table Text Block]	December 31, 2018 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Assets Cash and cash equivalents $ 28,877 $ 13,249 $ 147 $ — $ 42,273 Restricted cash — 269 — — 269 Contracts and accounts receivable 7 18,926 — (668 ) 18,265 Intercompany receivables 192,341 — — (192,341 ) — Due from affiliates — 1,218 — — 1,218 Real estate inventories — 566,290 — — 566,290 Investment in and advances to unconsolidated joint ventures — 34,330 — — 34,330 Investment in subsidiaries 396,466 — — (396,466 ) — Other assets 18,643 14,812 — (3 ) 33,452 Total assets $ 636,334 $ 649,094 $ 147 $ (589,478 ) $ 696,097 Liabilities and equity Accounts payable $ 240 $ 39,151 $ — $ — $ 39,391 Accrued expenses and other liabilities 8,492 21,129 71 (664 ) 29,028 Intercompany payables — 192,341 — (192,341 ) — Due to affiliates — 7 — (7 ) — Unsecured revolving credit facility 67,500 — — — 67,500 Senior notes, net 320,148 — — — 320,148 Total liabilities 396,380 252,628 71 (193,012 ) 456,067 Stockholders' equity 239,954 396,466 — (396,466 ) 239,954 Non-controlling interest in subsidiary — — 76 — 76 Total equity 239,954 396,466 76 (396,466 ) 240,030 Total liabilities and equity $ 636,334 $ 649,094 $ 147 $ (589,478 ) $ 696,097 December 31, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Assets Cash and cash equivalents $ 99,586 $ 23,772 $ 188 $ — $ 123,546 Restricted cash — 424 — — 424 Contracts and accounts receivable 10 24,238 — (1,024 ) 23,224 Intercompany receivables 129,414 — — (129,414 ) — Due from affiliates — 1,060 — — 1,060 Real estate inventories — 416,143 — — 416,143 Investment in and advances to unconsolidated joint ventures — 55,824 — — 55,824 Investment in subsidiaries 356,443 — — (356,443 ) — Other assets 8,464 15,827 — — 24,291 Total assets $ 593,917 $ 537,288 $ 188 $ (486,881 ) $ 644,512 Liabilities and equity Accounts payable $ 237 $ 23,479 $ 6 $ — $ 23,722 Accrued expenses and other liabilities 11,034 27,954 80 (1,014 ) 38,054 Intercompany payables — 129,414 — (129,414 ) — Due to affiliates — 10 — (10 ) — Senior notes, net 318,656 — — — 318,656 Total liabilities 329,927 180,857 86 (130,438 ) 380,432 Stockholders' equity 263,990 356,431 12 (356,443 ) 263,990 Non-controlling interest in subsidiary — — 90 — 90 Total equity 263,990 356,431 $ 102 (356,443 ) 264,080 Total liabilities and equity $ 593,917 $ 537,288 $ 188 $ (486,881 ) $ 644,512
Supplemental Condensed Consolidating Statement of Operations [Table Text Block]	Year Ended December 31, 2018 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 504,029 $ — $ — $ 504,029 Fee building — 163,537 — — 163,537 — 667,566 — — 667,566 Cost of Sales: Home sales — 436,508 22 — 436,530 Home sales impairments — 10,000 — — 10,000 Fee building — 159,136 — — 159,136 — 605,644 22 — 605,666 Gross Margin: Home sales — 57,521 (22 ) — 57,499 Fee building — 4,401 — — 4,401 — 61,922 (22 ) — 61,900 Selling and marketing expenses — (36,065 ) — — (36,065 ) General and administrative expenses 4,330 (30,293 ) (3 ) — (25,966 ) Equity in net loss of unconsolidated joint ventures — (19,653 ) — — (19,653 ) Equity in net loss of subsidiaries (17,372 ) — — 17,372 — Other income (expense), net (66 ) (455 ) — — (521 ) Pretax loss (13,108 ) (24,544 ) (25 ) 17,372 (20,305 ) (Provision) benefit for income taxes (1,108 ) 7,183 — — 6,075 Net loss (14,216 ) (17,361 ) (25 ) 17,372 (14,230 ) Net loss attributable to non-controlling interest in subsidiary — — 14 — 14 Net loss attributable to The New Home Company Inc. $ (14,216 ) $ (17,361 ) $ (11 ) $ 17,372 $ (14,216 ) Year Ended December 31, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 560,842 $ — $ — $ 560,842 Fee building — 190,324 — — 190,324 — 751,166 — — 751,166 Cost of Sales: Home sales — 473,181 32 — 473,213 Home sales impairments — 2,200 — — 2,200 Fee building — 184,827 — — 184,827 — 660,208 32 — 660,240 Gross Margin: Home sales — 85,461 (32 ) — 85,429 Fee building — 5,497 — — 5,497 — 90,958 (32 ) — 90,926 Selling and marketing expenses — (32,702 ) — — (32,702 ) General and administrative expenses (2,403 ) (23,927 ) — — (26,330 ) Equity in net income of unconsolidated joint ventures — 866 — — 866 Equity in net income of subsidiaries 21,773 — — (21,773 ) — Other income (expense), net 107 (336 ) — — (229 ) Pretax income (loss) 19,477 34,859 (32 ) (21,773 ) 32,531 Provision for income taxes (2,325 ) (13,065 ) — — (15,390 ) Net income (loss) 17,152 21,794 (32 ) (21,773 ) 17,141 Net loss attributable to non-controlling interest in subsidiary — — 11 — 11 Net income (loss) attributable to The New Home Company Inc. $ 17,152 $ 21,794 $ (21 ) $ (21,773 ) $ 17,152 Year Ended December 31, 2016 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Revenues: Home sales $ — $ 502,792 $ 5,157 $ — $ 507,949 Fee building — 186,662 — (155 ) 186,507 — 689,454 5,157 (155 ) 694,456 Cost of Sales: Home sales — 428,881 4,678 — 433,559 Home sales impairments — 2,350 — — 2,350 Land sales impairment — 1,150 — — 1,150 Fee building 2,240 175,863 — — 178,103 2,240 608,244 4,678 — 615,162 Gross Margin: Home sales — 71,561 479 — 72,040 Land sales — (1,150 ) — — (1,150 ) Fee building (2,240 ) 10,799 — (155 ) 8,404 (2,240 ) 81,210 479 (155 ) 79,294 Selling and marketing expenses — (26,058 ) (686 ) — (26,744 ) General and administrative expenses (14,719 ) (11,163 ) — — (25,882 ) Equity in net income of unconsolidated joint ventures — 7,691 — — 7,691 Equity in net income of subsidiaries 32,091 — — (32,091 ) — Other income (expense), net (119 ) (303 ) (142 ) 155 (409 ) Pretax income (loss) 15,013 51,377 (349 ) (32,091 ) 33,950 Benefit (provision) for income taxes 6,009 (19,033 ) — — (13,024 ) Net income (loss) 21,022 32,344 (349 ) (32,091 ) 20,926 Net loss attributable to non-controlling interest in subsidiary — — 96 — 96 Net income (loss) attributable to The New Home Company Inc. $ 21,022 $ 32,344 $ (253 ) $ (32,091 ) $ 21,022
Supplemental Condensed Consolidated Statement of Cash Flows [Table Text Block]	Year Ended December 31, 2018 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash used in operating activities $ (63,076 ) $ (71,789 ) $ (41 ) $ (4,779 ) $ (139,685 ) Investing activities: Purchases of property and equipment (49 ) (197 ) — — (246 ) Contributions and advances to unconsolidated joint ventures — (15,066 ) — — (15,066 ) Contributions to subsidiaries from corporate (249,435 ) — — 249,435 — Distributions of capital from subsidiaries 183,896 — — (183,896 ) — Distributions of capital and repayment of advances to unconsolidated joint ventures — 15,436 — — 15,436 Interest collected on advances to unconsolidated joint ventures — 178 — — 178 Net cash (used in) provided by investing activities $ (65,588 ) $ 351 $ — $ 65,539 $ 302 Financing activities: Borrowings from credit facility 150,000 — — — 150,000 Repayments of credit facility (82,500 ) — — — (82,500 ) Contributions to subsidiaries from corporate — 249,435 — (249,435 ) — Distributions to corporate from subsidiaries — (188,675 ) — 188,675 — Repurchase of common stock (8,563 ) — — — (8,563 ) Tax withholding paid on behalf of employees for stock awards (982 ) — — — (982 ) Net cash provided by financing activities $ 57,955 $ 60,760 $ — $ (60,760 ) $ 57,955 Net decrease in cash, cash equivalents and restricted cash (70,709 ) (10,678 ) (41 ) — (81,428 ) Cash, cash equivalents and restricted cash – beginning of period 99,586 24,196 188 — 123,970 Cash, cash equivalents and restricted cash – end of period $ 28,877 $ 13,518 $ 147 $ — $ 42,542 Year Ended December 31, 2017 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash used in operating activities $ (31,824 ) $ (41,900 ) $ (81 ) $ (17,058 ) $ (90,863 ) Investing activities: Purchases of property and equipment (71 ) (124 ) — — (195 ) Cash assumed from joint venture at consolidation — 995 — — 995 Contributions and advances to unconsolidated joint ventures — (27,479 ) — — (27,479 ) Contributions to subsidiaries from corporate (275,794 ) — — 275,794 — Distributions of capital from subsidiaries 192,478 — — (192,478 ) — Distributions of capital and repayment of advances to unconsolidated joint ventures — 15,577 — — 15,577 Interest collected on advances to unconsolidated joint ventures — 552 — — 552 Net cash used in investing activities $ (83,387 ) $ (10,479 ) $ — $ 83,316 $ (10,550 ) Financing activities: Borrowings from credit facility 88,000 — — — 88,000 Repayments of credit facility (206,000 ) — — — (206,000 ) Proceeds from senior notes 324,465 — — — 324,465 Repayments of other notes payable — (4,110 ) — — (4,110 ) Payment of debt issuance costs (7,565 ) — — — (7,565 ) Contributions to subsidiaries from corporate — 275,794 — (275,794 ) — Distributions to corporate from subsidiaries — (209,536 ) — 209,536 — Tax withholding paid on behalf of employees for stock awards (590 ) — — — (590 ) Proceeds from exercise of stock options 102 — — — 102 Net cash provided by financing activities $ 198,412 $ 62,148 $ — $ (66,258 ) $ 194,302 Net increase (decrease) in cash, cash equivalents and restricted cash 83,201 9,769 (81 ) — 92,889 Cash, cash equivalents and restricted cash – beginning of period 16,385 14,427 269 — 31,081 Cash, cash equivalents and restricted cash – end of period $ 99,586 $ 24,196 $ 188 $ — $ 123,970 Year Ended December 31, 2016 NWHM Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated NWHM (Dollars in thousands) Net cash (used in) provided by operating activities $ (7,041 ) $ (12,149 ) $ 3,272 $ (26,894 ) $ (42,812 ) Investing activities: Purchases of property and equipment (193 ) (246 ) — — (439 ) Cash assumed from joint venture at consolidation — 2,610 — — 2,610 Contributions and advances to unconsolidated joint ventures — (15,088 ) — — (15,088 ) Contributions to subsidiaries from corporate (225,169 ) — — 225,169 — Distributions of capital from subsidiaries 189,392 725 — (190,117 ) — Distributions of capital from unconsolidated joint ventures — 15,307 — — 15,307 Net cash (used in) provided by investing activities $ (35,970 ) $ 3,308 $ — $ 35,052 $ 2,390 Financing activities: Borrowings from credit facility 223,050 — — — 223,050 Repayments of credit facility (179,974 ) — — — (179,974 ) 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 non-controlling interest in subsidiary — — (725 ) — (725 ) Contributions to subsidiaries from corporate — 225,169 — (225,169 ) — Distributions to corporate from subsidiaries — (216,286 ) (725 ) 217,011 — Tax withholding paid on behalf of employees for stock awards (648 ) — — — (648 ) Excess income tax provision from stock-based compensation (97 ) — — — (97 ) Net cash provided by (used in) financing activities $ 41,267 $ (4,252 ) $ (3,608 ) $ (8,158 ) $ 25,249 Net decrease in cash, cash equivalents and restricted cash (1,744 ) (13,093 ) (336 ) — (15,173 ) Cash, cash equivalents and restricted cash – beginning of period 18,129 27,520 605 — 46,254 Cash, cash equivalents and restricted cash – end of period $ 16,385 $ 14,427 $ 269 $ — $ 31,081

Organization and Summary of S_4

Organization and Summary of Significant Accounting Policies - Additional Disclosures (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018	Dec. 31, 2015
Restricted Cash	$ 269,000	$ 424,000	$ 585,000
Cumulative Effect of New Accounting Principle in Period of Adoption		(3,365,000)
Deferred Costs	0	11,232,000
Deferred tax asset	13,937,000	6,317,000
Selling and Marketing Expense	36,065,000	32,702,000	26,744,000
Cash and cash equivalents	42,273,000	123,546,000	30,496,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	42,542,000	123,970,000	31,081,000		$ 46,254,000
Restricted cash	269,000	424,000
Inventory impairments	10,000,000	2,200,000	3,500,000
Non-controlling interest in subsidiary	76,000	90,000
Equity Method Investment, Impairment Of Joint Ventures	28,776,000	0	0
Equity Method Investments, Impairment of Unconsolidated Entity Investments	18,900,000	0	0
Impairments related to investment in unconsolidated joint ventures		0	0
Allowance for doubtful contracts and accounts receivable	0	0
Depreciation and amortization	6,631,000	449,000	511,000
Other Depreciation and Amortization	$ 400,000	$ 400,000	500,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	35.00%
Noncash deferred tax asset charge	$ 0	$ 3,190,000	0
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	8.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount	$ 11,000
Employer contribution amount	1,000,000	838,000	861,000
Capitalized Sales and Marketing Amortized	6,200,000	11,300,000	9,200,000
Stock Repurchased and Retired During Period, Value	8,500,000
Other than Temporary Impairment Losses, Investments	$ 1,100,000	0	$ 0
Typical Ownership Threshold [Member]
Equity Method Investment, Ownership Percentage	35.00%
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Accounting Standards Update 2018-07 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 18,000
Accounting Standards Update 2014-09 [Member]
Selling and Marketing Expense	$ 100,000
Employee Stock Options and Restricted Stock Units [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	2,600,000
Employee Stock Options and Restricted Stock Units [Member] | Consultant Stelmar [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 24,000
Common Stock [Member]
Stock Repurchased and Retired During Period, Shares	1,003,116
ASC 606 Adoption Other Assets Write Off [Member]
Deferred Costs				$ 4,700,000
Deferred tax asset				$ 1,300,000

Organization and Summary of S_5

Organization and Summary of Significant Accounting Policies - Initial Public Offering (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 09, 2015	Jan. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Common stock, shares outstanding					20,058,904	20,876,837
IPO [Member]
Class of Stock [Line Items]
Common stock, shares outstanding		16,448,750
Common Stock [Member] | IPO [Member]
Class of Stock [Line Items]
Issuance of common stock, net of issuance costs, shares		8,984,375
Share Price (in dollars per share)		$ 11
Repurchase of common stock, shares			1,171,875
Net proceeds from issuance of common stock, net of underwriting discount, offering expenses and repurchase or shares			$ 75.8
Common Stock [Member] | Over-Allotment Option [Member]
Class of Stock [Line Items]
Issuance of common stock, net of issuance costs, shares	525,000	1,171,875
Common Stock [Member] | Follow-on offering [Member]
Class of Stock [Line Items]
Issuance of common stock, net of issuance costs, shares	4,025,000
Share Price (in dollars per share)	$ 12.50
Net proceeds from issuance of common stock, net of underwriting discount, offering expenses and repurchase or shares				$ 47.3
Common stock, shares outstanding	20,541,546

Organization and Summary of S_6

Organization and Summary of Significant Accounting Policies - Major Customer Revenue (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)customer	Dec. 31, 2017USD ($)customer	Dec. 31, 2016customer
Concentration Risk [Line Items]
Non-controlling interest in subsidiary	$ 76	$ 90
Cumulative Effect of New Accounting Principle in Period of Adoption		(3,365)
Document Period End Date	Dec. 31, 2018
Deferred Costs	$ 0	11,232
Deferred tax asset	$ 13,937	$ 6,317
Fee Building Segment [Member] | Customer Concentration Risk [Member] | Sales Revenue [Member]
Concentration Risk [Line Items]
Concentration risk, number of customers | customer	1	1	1
Concentration Risk, Percentage	95.00%	97.00%	96.00%
Fee Building Segment [Member] | Customer Concentration Risk [Member] | Contracts and Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk, number of customers | customer	1	1
Concentration Risk, Percentage	48.00%	49.00%

Computation of (Loss) Earnings

Computation of (Loss) Earnings Per Share - Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2018		Sep. 30, 2018		Jun. 30, 2018		Mar. 31, 2018		Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018		Dec. 31, 2017	Dec. 31, 2016
Numerator:
Net income (loss) attributable to The New Home Company Inc.	$ (16,150)		$ 2,459		$ 115		$ (640)		$ 10,471	$ 4,318	$ 1,517	$ 846	$ (14,216)		$ 17,152	$ 21,022
Denominator:
Basic weighted-average shares outstanding													20,703,967		20,849,736	20,685,386
Stock options and unvested restricted stock units													0		145,762	106,059
Diluted weighted-average shares outstanding													20,703,967		20,995,498	20,791,445
Basic earnings (loss) per share attributable to The New Home Company Inc.	$ (0.80)	[1]	$ 0.12	[1]	$ 0.01	[1]	$ (0.03)	[1]	$ 0.50	$ 0.21	$ 0.07	$ 0.04	$ (0.69)	[1]	$ 0.82	$ 1.02
Diluted earnings (loss) per share attributable to The New Home Company Inc.	$ (0.80)		$ 0.12	[1]	$ 0.01	[1]	$ (0.03)	[1]	$ 0.50	$ 0.21	$ 0.07	$ 0.04	$ (0.69)	[1]	$ 0.82	$ 1.01
Antidilutive stock options and unvested restricted stock units not included in diluted earnings per share													1,311,802		7,074	849,977
[1]	(1)Some amounts do not add to our full year results presented on our consolidated statement of operations due to rounding differences in quarterly and annual weighted average share calculations

Contracts and Accounts Receiv_3

Contracts and Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Contracts Receivable:
Costs incurred on fee building projects	$ 159,136	$ 184,827
Estimated earnings	4,401	5,497
Contracts receivable, before collections	163,537	190,324
Less: amounts collected during the period	(154,743)	(178,704)
Total contracts receivable	8,794	11,620
Billed	0	0
Unbilled	8,794	11,620
Other receivables
Escrow receivables	8,787	11,554
Other receivables	684	50
Contract and Accounts Receivable	18,265	23,224
Accounts payable related to costs incurred under fee building contracts	$ 8,500	$ 11,300

Real Estate Inventories (Detail

Real Estate Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Real Estate [Abstract]
Deposits and pre-acquisition costs	$ 20,726	$ 35,846
Land held and land under development	115,987	47,757
Homes completed or under construction	380,956	302,884
Model homes	48,621	29,656
Real estate inventories	566,290	416,143
Deposits and pre-acquisition costs, refundable	$ 900	$ 800

Real Estate Inventories Invento

Real Estate Inventories Inventory Impairments (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Inventory Disclosure [Abstract]
Impairment of Real Estate Homes	$ 10,000	$ 0	$ 0	$ 0	$ 900	$ 0	$ 1,300	$ 0	$ 10,000	$ 2,200	$ 2,350
Impairment of Real Estate Land									0	0	1,150
Total Inventory Impairments									10,000	2,200	3,500
Remaining Carrying Value of Inventory Impaired									$ 57,845	$ 5,921	$ 30,225
Number of Projects Impaired									2	1	3
Number of Projects Reviewed for Impairment									26	26	27

Real Estate Inventories - Addit

Real Estate Inventories - Additional Details (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Inventory Disclosure [Abstract]
Home sales impairments	$ 10,000	$ 0	$ 0	$ 0	$ 900	$ 0	$ 1,300	$ 0	$ 10,000	$ 2,200	$ 2,350
Number of Homebuilding Projects Impaired									2	1	2
Impairment of Real Estate									$ 10,000	$ 2,200	$ 3,500

Capitalized Interest (Details)

Capitalized Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Capitalized Interest [Abstract]
Interest incurred	$ 28,377	$ 21,978	$ 7,484
Interest expensed	0	0	0
Interest capitalized to inventory	(27,393)	(20,394)	(7,484)
Interest Capitalized to Investments in Unconsolidated Joint Ventures	(984)	(1,584)	0
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized interest in beginning inventory	16,453	6,342	4,190
Interest capitalized as a cost of inventory	27,393	20,394	7,484
Capitalized interest acquired from unconsolidated joint venture at consolidation	0	738	0
Capitalized interest transferred from investment in unconsolidated joint venture to inventory upon lot acquisition	513	0	0
Contribution to unconsolidated joint ventures	0	0	(1)
Previously capitalized interest included in cost of home sales	(18,678)	(11,021)	(5,331)
Capitalized interest in ending inventory	25,681	16,453	6,342
Real Estate Inventory, Capitalized Interest Costs in Unconsolidated Joint Venture [Roll Forward]
Capitalized interest in beginning investment in unconsolidated joint ventures	1,472	0	0
Interest capitalized to investment in unconsolidated joint ventures	984	1,584	0
Capitalized interest transferred from investment in unconsolidated joint venture to inventory upon consolidation	0	(76)	0
Capitalized interest transferred from investment in unconsolidated joint venture to inventory upon lot acquisition	(513)	0	0
Previously capitalized interest included in equity in net income (loss) of unconsolidated joint ventures	(1,230)	(36)	0
Capitalized interest in ending investment in unconsolidated joint ventures	713	1,472	0
Total capitalized interest in ending inventory and investments in unconsolidated joint ventures	$ 26,394	$ 17,925	$ 6,342
Capitalized interest as a percentage of inventory	4.50%	4.00%	2.20%
Interest included in cost of home sales as a percentage of home sales revenue	3.70%	2.00%	1.10%
Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures	2.10%	2.60%	0.00%
OTTI - Interest previously capitalized to investment in unconsolidated JV	$ 1,100	$ 0	$ 0

Unconsolidated Joint Ventures -

Unconsolidated Joint Ventures - Additional Disclosures (Details)	Oct. 23, 2017USD ($)	Aug. 31, 2017USD ($)	Dec. 31, 2018USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2018USD ($)project	Dec. 31, 2017USD ($)project	Dec. 31, 2016USD ($)project	Dec. 31, 2018project	Dec. 31, 2018	Dec. 31, 2018investment
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Impairment Of Joint Ventures						$ 28,776,000	$ 0	$ 0
Number Of Joint Venture Projects Impaired During Period | project						1	0	0
Equity Method Investments, Impairment of Unconsolidated Entity Investments						$ 18,900,000	$ 0	$ 0
Other than Temporary Impairment Losses, Investments						1,100,000	$ 0	$ 0
Equity Method Investments, Number							10	13	10		10
Advances to Affiliate			$ 0			0	$ 3,800,000
Debt Instrument, Interest Rate, Stated Percentage										7.25%
Management fee revenue, unconsolidated joint ventures						3,385,000	4,945,000	$ 8,202,000
Equity method investment, acquisition of partner's interest	$ 13,600,000	$ 2,600,000			$ 20,600,000
Proceeds from (Repayments of) Notes Payable	$ 0						(4,110,000)	(15,636,000)
Equity in net income (loss) of unconsolidated joint ventures						(19,653,000)	866,000	7,691,000
Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage										5.00%
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage										35.00%
Gain on Joint Venture Closeout [Member] [Member]
Schedule of Equity Method Investments [Line Items]
Equity in net income (loss) of unconsolidated joint ventures			300,000	$ 1,100,000
Gain on Fair Value Remeasurement [Member]
Schedule of Equity Method Investments [Line Items]
Equity in net income (loss) of unconsolidated joint ventures			$ 100,000	$ 500,000
Interest Income on Note to Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage										10.00%
Homebuilding Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Impairment Of Joint Ventures							0
Land Development Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Impairment Of Joint Ventures						$ 28,776,000	$ 0	$ 0

Unconsolidated Joint Ventures_2

Unconsolidated Joint Ventures - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Cash and cash equivalents	$ 45,945	$ 30,017
Restricted cash	19,205	15,041
Real estate inventories	374,607	396,850
Other assets	4,231	3,942
Total assets	443,988	445,850
Accounts payable and accrued liabilities	43,158	34,959
Notes Payable	71,299	78,341
Liabilities	114,457	113,300
The Company's equity	33,617	50,523
Other partners' equity	295,914	282,027
Total equity	329,531	332,550
Total liabilities and equity	$ 443,988	$ 445,850
Ratio of indebtedness to capital of equity method investments	17.80%	19.10%
Debt-to-equity ratio	21.60%	23.60%

Unconsolidated Joint Ventures_3

Unconsolidated Joint Ventures - Income Statement (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Revenues		$ 181,623	$ 147,447	$ 233,219
Cost of sales and expenses		(209,527)	(147,976)	(207,028)
Net income (loss) of unconsolidated joint ventures		(27,904)	(529)	26,191
Equity in net income of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations		(19,653)	866	7,691
Russell Ranch [Member]
Schedule of Equity Method Investments [Line Items]
Revenues		24,632	0	0
Land sales		24,510	0	0
Inventory impairments		28,776	0	0
Gross Margin		(28,654)	0	0
Expenses		(1,149)	(920)	(361)
Net loss		(29,803)	(920)	(361)
Equity in net income of unconsolidated joint ventures reflected in the accompanying consolidated statements of operations	[1]	$ (20,219)	$ (372)	$ (264)
[1]	(1) Balance represents equity in net income (loss) of unconsolidated joint ventures included in the statements of operations related to the Company's investment in the Russell Ranch joint venture. The balance may differ from the amount of profit or loss allocated to the Company as reflected in Russell Ranch's financial records primarily due to the other-than-temporary impairment charge taken to the Company's interest in the joint venture and profit deferral from lot sales from Russell Ranch to the Company

Investments In and Advances to

Investments In and Advances to Unconsolidated Joint Ventures Unconsolidated Joint Ventures - Inventory Impairments (Details)	12 Months Ended
	Dec. 31, 2018USD ($)project	Dec. 31, 2017USD ($)project	Dec. 31, 2016USD ($)project	Dec. 31, 2018investment
Other than Temporary Impairment Losses, Investments	$ 1,100,000	$ 0	$ 0
Equity Method Investment, Impairment Of Joint Ventures	$ 28,776,000	$ 0	$ 0
Number Of Joint Venture Projects Impaired During Period | project	1	0	0
Equity Method Investments, Number	10	10	13	10
Homebuilding Joint Ventures [Member]
Equity Method Investment, Impairment Of Joint Ventures		$ 0
Land Development Joint Ventures [Member]
Equity Method Investment, Impairment Of Joint Ventures	$ 28,776,000	$ 0	$ 0

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other Assets [Abstract]
Property, equipment and capitalized selling and marketing costs, net(1)(2)	$ 11,738	$ 603
Deferred tax asset, net	13,937	6,317
Prepaid income taxes	514	0
Prepaid expenses	6,348	4,937
Warranty insurance receivable(3)	915	1,202
Capitalized selling and marketing costs(1)	0	11,232
Total other assets	33,452	24,291
Capitalized Sales and Marketing Amortized	6,200	11,300	$ 9,200
Property and Equipment Depreciation	$ 400	400	500
Estimated probable recoveries		$ 600	$ 600

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities - Schedule of Accrued Liabilities and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Warranty accrual(1)	$ 6,898	$ 6,859	$ 4,931
Accrued compensation and benefits	5,749	9,164
Accrued interest	6,497	6,217
Completion reserve	4,192	5,792
Income taxes payable	0	6,368
Deferred profit from unconsolidated joint ventures	0	136
Other accrued expenses	5,692	3,518
Total accrued expenses and other liabilities	$ 29,028	$ 38,054

Accrued Expenses and Other Li_4

Accrued Expenses and Other Liabilities - Changes in Warranty Accrual (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning warranty liability	$ 6,859	$ 4,931
Adjustment to warranty accrual	100	900
Ending warranty liability	6,898	6,859	$ 4,931
Homebuilding Segment [Member]
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning warranty liability	6,634	4,608	3,846
Warranty provision	2,330	1,825	1,921
Warranty assumed from joint ventures at consolidation	0	781	469
Warranty payments	(2,006)	(989)	(563)
Adjustment to warranty accrual	(277)	409	(1,065)
Ending warranty liability	6,681	6,634	4,608
Fee Building Segment [Member]
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning warranty liability	225	323	335
Warranty provision	0	0	0
Warranty payments	(70)	(3)	(12)
Adjustment to warranty accrual	62	(95)	0
Ending warranty liability	$ 217	$ 225	$ 323

Accrued Expenses and Other Li_5

Accrued Expenses and Other Liabilities Accrued Expenses and Other Liabilities - Warranty (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Insurance Settlements Receivable	$ 915,000	$ 1,202,000
Adjustment to warranty accrual	100,000	900,000
Estimated probable recoveries		600,000	$ 600,000
Increase (Decrease) in Insurance Settlements Receivable	300,000
Homebuilding Segment [Member]
Adjustment related to higher warranty expenditures	43,000
Adjustment to warranty accrual	(277,000)	409,000	(1,065,000)
Adjustment related to lower warranty expenditures		800,000
Fee Building Segment [Member]
Adjustment related to higher warranty expenditures	30,000	63,000
Adjustment to warranty accrual	62,000	$ (95,000)	$ 0
Increase (Decrease) in Insurance Settlements Receivable	$ 32,000

Notes Payable - Schedule of Not

Notes Payable - Schedule of Notes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Senior notes, net	$ 320,148	$ 318,656
Unsecured revolving credit facility	67,500	0
Notes payable	$ 387,648	$ 318,656

Notes Payable - Additional Disc

Notes Payable - Additional Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	May 04, 2017	Mar. 17, 2017	Dec. 19, 2016
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	$ 1,700	$ 2,200
Debt Instrument, Unamortized Premium	1,300	1,800
Debt Instrument, Unamortized Debt Issuance Costs	$ 4,500	5,900
Interest rate	7.25%
Unsecured revolving credit facility	$ 67,500	0
Long-term Debt	387,648	318,656
Gain (Loss) on Extinguishment of Debt	$ 0	0	$ 250
Notes Payable with Land Sellers [Member]
Debt Instrument [Line Items]
Long-term Debt		4,000				$ 3,750
Notes Payable with Land Sellers [Member] | 2012 Notes Payable to Land Seller [Member]
Debt Instrument [Line Items]
Interest rate			7.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate at period end	5.50%
Maximum borrowing capacity	$ 200,000
Revolving Credit Facility [Member] | Minimum [Member] | Unsecured revolving credit facility | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Revolving Credit Facility [Member] | Maximum [Member] | Unsecured revolving credit facility | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	3.00%
Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 25,000
Letters of Credit Outstanding, Amount	2,300	$ 3,400
Accordion Feature Maximum Borrowing Capacity [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	300,000
Sr Notes Due 2022 [Member]
Debt Instrument [Line Items]
Face value of note					$ 250,000
Percent of Debt Instrument Par Value Issued					98.96%
Interest rate at period end					7.50%
Sr Notes Due 2022 Tack-on [Member]
Debt Instrument [Line Items]
Face value of note				$ 75,000
Percent of Debt Instrument Par Value Issued				102.75%
Interest rate at period end				6.44%
Existing or future credit facility borrowings [Member] | Sr Notes Due 2022 [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 260,000
Basket limitation components [Member] | Sr Notes Due 2022 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Percent of consolidated net income	50.00%
Net Cash Proceeds from Qualified Equity Offerings	100.00%
Consolidated tangible net assets	15.00%
Basket Limitation	$ 15,000

Senior Notes and Unsecured Revo

Senior Notes and Unsecured Revolving Credit Facility Notes Payable - Maturities (Details) $ in Thousands	Dec. 31, 2018USD ($)
Debt Disclosure [Abstract]
Long-term Debt, Maturities, Repayments of Principal in 2019	$ 0
Long-term Debt, Maturities, Repayments of Principal in 2020	67,500
Long-term Debt, Maturities, Repayments of Principal in 2021	0
Long-term Debt, Maturities, Repayments of Principal in 2022	325,000
Long-term Debt, Maturities, Repayments of Principal in 2023	0
Long Term Debt, Maturities, Repayments of Principal	$ 392,500

Fair Value Disclosures Fair V_2

Fair Value Disclosures Fair Value Disclosure (Details) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Fair Value Disclosures [Abstract]
Unsecured revolving credit facility	$ 67,500				$ 0				$ 67,500	$ 0
Assets, Fair Value Adjustment											$ 0
Debt Instrument, Unamortized Discount	1,700				2,200				1,700	2,200
Debt Instrument, Unamortized Premium	1,300				1,800				1,300	1,800
Debt Instrument, Unamortized Debt Issuance Costs	4,500				5,900				$ 4,500	$ 5,900
Number of Projects Impaired									2	1	2
Impairment of Real Estate									$ 10,000	$ 2,200	$ 3,500
Impairment of Real Estate Homes	$ 10,000	$ 0	$ 0	$ 0	$ 900	$ 0	$ 1,300	$ 0	10,000	2,200	2,350
Impairment of Real Estate Land									0	0	1,150
Remaining Carrying Value of Inventory Impaired									57,845	5,921	30,225
Other than Temporary Impairment Losses, Investments									$ 1,100	$ 0	0
Liabilities, Fair Value Adjustment											$ 0

Fair Value Disclosures Fair V_3

Fair Value Disclosures Fair Value Table (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes, net	$ 320,148	$ 318,656
Notes Payable, Fair Value Disclosure	292,500	336,375
Unsecured revolving credit facility	$ 67,500	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net	$ 1.1
Surety Bond [Member]
Loss Contingencies [Line Items]
Outstanding surety bonds	50.5	$ 52.1
Loss Contingency Portion Attributable to Work Remaining to Complete	20.3	24.4
Loans Payable [Member] | Corporate Joint Venture [Member]
Loss Contingencies [Line Items]
Related Party Transaction, Guarantor Obligations, Underlying Asset Class Guaranteed	7.3	6.7
Financial Guarantee [Member] | Corporate Joint Venture [Member]
Loss Contingencies [Line Items]
Long-term Debt, Gross	$ 41.3	$ 38.6

Commitments and Contingencies_2

Commitments and Contingencies Commitments and Contingencies - Operating Leases (Details) $ in Thousands	Dec. 31, 2018USD ($)ft²
Other Commitments [Line Items]
Operating Leases, Future Minimum Payments Due, 2019	$ 1,739
Operating Leases, Future Minimum Payments, Due 2020	1,266
Operating Leases, Future Minimum Payments, Due 2021	322
Operating Leases, Future Minimum Payments, Due 2022	0
Operating Leases, Future Minimum Payments, Due 2023	0
Operating Leases, Future Minimum Payments, Due Thereafter	0
Operating Leases, Future Minimum Payments Due	$ 3,327
Aliso Viejo, California [Member]
Other Commitments [Line Items]
Lease agreements, area | ft²	18,700
Other Locations [Member]
Other Commitments [Line Items]
Lease agreements, area | ft²	19,000
Sublease [Member]
Other Commitments [Line Items]
Lease agreements, area | ft²	5,800

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands	Oct. 23, 2017USD ($)	Jun. 29, 2015USD ($)	Aug. 31, 2017USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)project	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)project	Dec. 31, 2016USD ($)project	Dec. 31, 2018project	Dec. 31, 2018	Dec. 31, 2018investment	Dec. 31, 2015USD ($)
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage																		7.25%
Due from affiliates				$ 1,218				$ 1,060						$ 1,218	$ 1,060
Equity Method Investments, Number								10							10	13	10		10
Investment in and advances to unconsolidated joint ventures				34,330				$ 55,824						34,330	$ 55,824
Equity in net income (loss) of unconsolidated joint ventures														(19,653)	866	$ 7,691
Advances to Affiliate				0				3,800						0	3,800
Deferred Revenue				0				136						0	136
Due to affiliates				0										0
Equity method investment, acquisition of partner's interest	$ 13,600		$ 2,600										$ 20,600
Proceeds from (Repayments of) Notes Payable	$ 0														4,110	15,636
General Partners' Contributed Capital									$ 4,000
Deposits Assets				5,100										5,100
Construction Revenue				42,408	$ 39,240	$ 38,095	$ 43,794	44,217	43,309	$ 47,181	$ 55,617			163,537	190,324	186,507
Fee building				41,275	$ 38,124	$ 37,038	$ 42,699	43,194	$ 41,808	$ 45,899	$ 53,926			159,136	184,827	178,103
Joint Venture Contribution [Member]
Related Party Transaction [Line Items]
Equity in net income (loss) of unconsolidated joint ventures		$ 1,600												200	100
Deferred Revenue																				$ 400
Joint Venture Asset Acquisition [Member]
Related Party Transaction [Line Items]
Deferred Revenue				132										132
Cannery Land Sale [Member]
Related Party Transaction [Line Items]
Deferred Revenue				0				100						0	100
Deferred Profit Contra WIP Balance				243				500						243	500
Profit Participation [Member]
Related Party Transaction [Line Items]
Profit Participation														200
Purchase Agreement, Reimbursement Of Fee Credits														100
Builder Fees [Member]
Related Party Transaction [Line Items]
Due from affiliates				37				100						37	100
Interest Income on Note to Joint Venture [Member]
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage																		10.00%
Due from affiliates				0				34						0	34
Revenue from related party														100	500
Board Affiliate [Member] | Bedford 1 [Member]
Related Party Transaction [Line Items]
Deposits Assets				1,500										1,500
Purchase Options, Land				10,000										10,000
Deposits Assets - Outstanding				900										900
Board Affiliate [Member] | Bedford 2 [Member]
Related Party Transaction [Line Items]
Deposits Assets				1,400										1,400
Purchase Options, Land				10,500										10,500
10% Common Stock Affiliate [Member] | Northern CA Phased Takedown [Member]
Related Party Transaction [Line Items]
Deposits Assets				300										300
Purchase Options, Land								16,100							16,100
Master Marking Fees														300
10% Common Stock Affiliate [Member] | Northern CA Rolling Option [Member]
Related Party Transaction [Line Items]
Deposits Assets				5,300										5,300
Estimated Purchase Price														56,300
Land owner fees reimbursed														100
Option Payment														5,900
10% Common Stock Affiliate [Member] | Northern CA Finished Lots [Member]
Related Party Transaction [Line Items]
Purchase Options, Land				8,000										8,000
Master Marking Fees														300
10% Common Stock Affiliate [Member] | Arizona Master Plan [Member]
Related Party Transaction [Line Items]
Deposits Assets				300										300
Purchase Options, Land				3,800										3,800
Gain on Joint Venture Closeout [Member] [Member]
Related Party Transaction [Line Items]
Equity in net income (loss) of unconsolidated joint ventures				300								$ 1,100
Consultant Stelmar [Member] | Monthly consulting fee [Member]
Related Party Transaction [Line Items]
Transaction amount														6
Accounts Payable, Related Parties				0										0
Consultant Davis [Member]
Related Party Transaction [Line Items]
Due from affiliates				600				500						600	500
Construction Revenue														3,000	471
General Contractor Revenue														83	13
Fee building														2,900	500
Consultant Davis [Member] | Consulting Fee [Member]
Related Party Transaction [Line Items]
Transaction amount														5
Accounts Payable, Related Parties				0										0
TL Fab LP [Member] | Trade Payment [Member] | Wholly owned [Member]
Related Party Transaction [Line Items]
Transaction amount														300	600	300
Accounts Payable, Related Parties				7				11						7	11
TL Fab LP [Member] | Trade Payment [Member] | Unconsolidated Joint Ventures [Member]
Related Party Transaction [Line Items]
Transaction amount														400	900	600
Accounts Payable, Related Parties				8				0						8	0
Director [Member]
Related Party Transaction [Line Items]
Equity Method Investments, Number | investment																			3
Director [Member] | Russell Ranch [Member]
Related Party Transaction [Line Items]
Purchase Options, Land								34,000							34,000
Board Member and 10% Beneficial Owner [Member]
Related Party Transaction [Line Items]
Equity Method Investments, Number | investment																			2
Related Party [Member]
Related Party Transaction [Line Items]
The percentage of ownership of common stock entities with investments in Company’s unconsolidated joint ventures hold																		10.00%
Equity Method Investments, Number | investment																			5
Investment in and advances to unconsolidated joint ventures				18,500										18,500
Corporate Joint Venture [Member] | Construction-related Costs [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party														6,400	7,300	9,400
Due from affiliates				400				100						400	100
Corporate Joint Venture [Member] | Management Fees [Member]
Related Party Transaction [Line Items]
Due from affiliates				200				$ 300						200	300
Revenue from related party																8,200
Gain on Fair Value Remeasurement [Member]
Related Party Transaction [Line Items]
Equity in net income (loss) of unconsolidated joint ventures				$ 100								$ 500
Sponsor [Member] | FMR LLC [Member]
Related Party Transaction [Line Items]
Investment Income, Investment Expense														14	11	0
Participant [Member] | FMR LLC [Member]
Related Party Transaction [Line Items]
Investment Income, Investment Expense														$ 6	$ 4	$ 0

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,090	$ 2,803	$ 3,471
Award expiration period	10 years
Unearned stock-based compensation expense not yet recognized, recognition period	1 year 4 months 35 days
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	$ 2,600
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	51,681
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	1,465,834
2016 Incentive Plan Amended and Restated [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares that may be issued under plan	2,100,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Common Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Number of Shares
Options outstanding at December 31 (shares)	826,498	835,786	840,298
Options granted (shares)	0	0	0
Options exercised (shares)	0	9,288	0
Options forfeited (shares)	(5,028)	0	(4,512)
Options outstanding at December 31 (shares)	821,470	826,498	835,786
Options exercisable at December 31 (shares)	821,470	826,498	42,042
Weighted-Average Exercise Price per share
Options outstanding at December 31 (in dollars per share)	$ 11	$ 11	$ 11
Options granted (in dollars per share)	0	0	0
Options exercised (in dollars per share)	0	11	0
Options forfeited (in dollars per share)	11	0	11
Options outstanding at December 31 (in dollars per share)	11	11	11
Options exercisable at December 31 (in dollars per share)	$ 11	$ 11	$ 11

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Restricted Stock Units (Details) - Restricted Stock Units - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Balance outstanding at December 31 (shares)	562,082	474,989	308,386
Restricted stock units granted (shares)	179,268	343,933	414,045
Restricted stock units vested (shares)	(271,875)	(211,475)	(231,633)
Restricted stock units forfeited (shares)	(248)	(45,365)	(15,809)
Balance outstanding at December 31 (shares)	469,227	562,082	474,989
Weighted-Average Grant-Date Fair Value per Share
Balance outstanding at December 31 (in dollars per share)	$ 10.72	$ 10.66	$ 14.20
Restricted stock units granted (in dollars per share)	11.24	10.84	10.05
Restricted stock units vested (shares)	11.02	10.76	14.22
Restricted stock units forfeited (in dollars per share)	10.05	10.79	11.62
Balance outstanding at December 31 (in dollars per share)	$ 10.75	$ 10.72	$ 10.66

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Source of Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,090	$ 2,803	$ 3,471
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	0	11	1,054
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,090	$ 2,792	$ 2,417

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of Valuation Assumptions (Details) - $ / shares	1 Months Ended	12 Months Ended
	Jan. 30, 2017	Dec. 31, 2017
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	4 years 4 months
Expected volatility	49.00%
Risk-free interest rate	1.20%
Expected dividends	0.00%
Weighted-average grant date fair value per share (in dollars per share)	$ 4.43
Non-Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	1 year	1 year 1 month 15 days
Expected volatility	34.90%	36.70%
Risk-free interest rate	0.80%	0.90%
Expected dividends	0.00%	0.00%
Weighted-average grant date fair value per share (in dollars per share)	$ 1.32	$ 2.14

Stock-Based Compensation Summar

Stock-Based Compensation Summary of Performance Share Unit Awards (Details) - Performance Shares [Member]	12 Months Ended
	Dec. 31, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance outstanding at December 31 (shares) | shares	0
Balance outstanding at December 31 (in dollars per share) | $ / shares	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares	125,422
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 11.68
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	$ 0
Balance outstanding at December 31 (in dollars per share) | $ / shares	$ 11.68
Balance outstanding at December 31 (shares) | shares	125,422

Income Taxes Income Tax Eff Rat

Income Taxes Income Tax Eff Rate Recon (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Tax Cuts And Jobs Act Of 2017, Deferred Tax Asset, Change In Tax Rate, Provisional Adjustment									$ (148)	$ 3,190
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent									21.00%	35.00%
Pretax income (loss)	$ (22,376)	$ 3,400	$ 182	$ (1,511)	$ 21,692	$ 6,974	$ 2,505	$ 1,360	$ (20,305)	$ 32,531	$ 33,950
(Provision) benefit for income taxes at federal statutory rate									4,264	(11,386)	(11,883)
Tax rate change									0	(3,190)	0
State income taxes, net of federal benefit									1,396	(1,860)	(1,977)
Manufacturing deduction									0	958	1,142
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Amount									388	159	(145)
Other									(121)	(71)	(161)
Provision for income taxes									$ 6,075	$ (15,390)	$ (13,024)
Effective tax rate									29.90%	47.30%	38.40%
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent									21.00%

Income Taxes Current Deferred I

Income Taxes Current Deferred Income Tax (Details) (Tables) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current Federal Tax Expense (Benefit)	$ (67)	$ 10,243	$ 10,321
Current State and Local Tax Expense (Benefit)	304	3,030	3,375
Current Income Tax Expense (Benefit)	237	13,273	13,696
Deferred Federal Income Tax Expense (Benefit)	(4,208)	2,341	(506)
Deferred State and Local Income Tax Expense (Benefit)	(2,104)	(224)	(166)
Deferred Income Tax Expense (Benefit)	(7,620)	(1,073)	(918)
Provision for income taxes	(6,075)	15,390	13,024
Federal and State [Member]
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Deferred Income Tax Expense (Benefit)	$ (6,312)	$ 2,117	$ (672)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Line Items]
Deferred Tax Assets, State Taxes	$ 74	$ 633
Deferred Tax Assets, Reserves and Accruals	2,258	1,893
Deferred Tax Assets, Intangible Assets	28	207
Deferred Tax Assets, Tax Deferred Expense, Share-based Compensation	1,594	1,585
Deferred Tax Assets, Inventory	3,699	627
Deferred Tax Assets, Investments in JVs	6,318	1,411
Deferred Tax Liabilities, Depreciation	(34)	(39)
Deferred tax asset	13,937	6,317
Tax Cuts And Jobs Act Of 2017, Deferred Tax Asset, Change In Tax Rate, Provisional Adjustment	$ (148)	$ 3,190

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment									2
Home sales revenue	$ 187,258	$ 119,874	$ 117,460	$ 79,437	$ 279,885	$ 114,622	$ 96,929	$ 69,406	$ 504,029	$ 560,842	$ 507,949
Fee building revenue	42,408	39,240	38,095	43,794	44,217	43,309	47,181	55,617	163,537	190,324	186,507
Revenues									667,566	751,166	694,456
(Loss) income before taxes	(22,376)	$ 3,400	$ 182	$ (1,511)	21,692	$ 6,974	$ 2,505	$ 1,360	(20,305)	32,531	33,950
Assets	696,097				644,512				696,097	644,512
Homebuilding Segment [Member]
Segment Reporting Information [Line Items]
Home sales revenue									504,029	560,842	507,949
(Loss) income before taxes									(24,706)	27,034	25,546
Assets	685,218				631,087				685,218	631,087
Fee Building Segment [Member]
Segment Reporting Information [Line Items]
Fee building revenue									163,537	190,324	186,507
(Loss) income before taxes									4,401	5,497	$ 8,404
Assets	$ 10,879				$ 13,425				$ 10,879	$ 13,425

Results of Quarterly Operatio_3

Results of Quarterly Operations Results of Quarterly Operations (details) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2018		Sep. 30, 2018		Jun. 30, 2018		Mar. 31, 2018		Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018		Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Home sales revenue	$ 187,258		$ 119,874		$ 117,460		$ 79,437		$ 279,885	$ 114,622	$ 96,929	$ 69,406	$ 504,029		$ 560,842	$ 507,949
Cost of homes sales	162,034		102,124		102,678		69,694		234,668	95,992	82,488	60,065	436,530		473,213	433,559
Home sales impairments	10,000		0		0		0		900	0	1,300	0	10,000		2,200	2,350
Homebuilding gross margin	15,224		17,750		14,782		9,743		44,317	18,630	13,141	9,341	57,499		85,429	72,040
Land sale impairment													0		0	1,150
Land sales gross margin													0		0	(1,150)
Fee building revenue	42,408		39,240		38,095		43,794		44,217	43,309	47,181	55,617	163,537		190,324	186,507
Fee building	41,275		38,124		37,038		42,699		43,194	41,808	45,899	53,926	159,136		184,827	178,103
Fee building gross margin	1,133		1,116		1,057		1,095		1,023	1,501	1,282	1,691	4,401		5,497	8,404
Pretax income (loss)	(22,376)		3,400		182		(1,511)		21,692	6,974	2,505	1,360	(20,305)		32,531	33,950
Net Income (Loss) Attributable to The New Home Company Inc.	$ (16,150)		$ 2,459		$ 115		$ (640)		$ 10,471	$ 4,318	$ 1,517	$ 846	$ (14,216)		$ 17,152	$ 21,022
Earnings Per Share, Basic	$ (0.80)	[1]	$ 0.12	[1]	$ 0.01	[1]	$ (0.03)	[1]	$ 0.50	$ 0.21	$ 0.07	$ 0.04	$ (0.69)	[1]	$ 0.82	$ 1.02
Earnings Per Share, Diluted	$ (0.80)		$ 0.12	[1]	$ 0.01	[1]	$ (0.03)	[1]	$ 0.50	$ 0.21	$ 0.07	$ 0.04	$ (0.69)	[1]	$ 0.82	$ 1.01
Homebuilding Segment [Member]
Segment Reporting Information [Line Items]
Home sales revenue													$ 504,029		$ 560,842	$ 507,949
Pretax income (loss)													(24,706)		27,034	25,546
Fee Building Segment [Member]
Segment Reporting Information [Line Items]
Fee building revenue													163,537		190,324	186,507
Pretax income (loss)													$ 4,401		$ 5,497	$ 8,404
[1]	(1)Some amounts do not add to our full year results presented on our consolidated statement of operations due to rounding differences in quarterly and annual weighted average share calculations

Supplemental Discloure of Cas_3

Supplemental Discloure of Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Interest Paid, Net	$ 0	$ 0	$ 0
Income Taxes Paid	7,110	14,050	13,670
Contribution of Property	0	0	798
Fair Value of Assets Acquired	0	26,613	46,811
Liabilities Assumed	$ 0	$ 27,608	$ 47,197

Supplemental Guarantor Inform_3

Supplemental Guarantor Information Supplemental Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash and cash equivalents	$ 42,273	$ 123,546	$ 30,496
Restricted cash	269	424
Contracts and accounts receivable	18,265	23,224
Intercompany Receivables	0	0
Due from affiliates	1,218	1,060
Real estate inventories	566,290	416,143
Investment in and advances to unconsolidated joint ventures	34,330	55,824
Investment in subsidiaries	0	0
Other assets	33,452	24,291
Total assets	696,097	644,512
Accounts payable	39,391	23,722
Accrued expenses and other liabilities	29,028	38,054
Intercompany Payables	0	0
Due to Affiliate	0	0
Unsecured revolving credit facility	67,500	0
Senior notes, net	320,148	318,656
Total liabilities	456,067	380,432
Stockholders' Equity Attributable to Parent	239,954	263,990
Non-controlling interest in subsidiary	76	90
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	240,030	264,080	$ 244,624	$ 221,697
Total liabilities and equity	696,097	644,512
Consolidation, Eliminations [Member]
Cash and cash equivalents	0	0
Restricted cash	0	0
Contracts and accounts receivable	(668)	(1,024)
Intercompany Receivables	(192,341)	(129,414)
Due from affiliates	0	0
Real estate inventories	0	0
Investment in and advances to unconsolidated joint ventures	0	0
Investment in subsidiaries	(396,466)	(356,443)
Other assets	(3)	0
Total assets	(589,478)	(486,881)
Accounts payable	0	0
Accrued expenses and other liabilities	(664)	(1,014)
Intercompany Payables	(192,341)	(129,414)
Due to Affiliate	(7)	(10)
Unsecured revolving credit facility	0
Senior notes, net	0	0
Total liabilities	(193,012)	(130,438)
Stockholders' Equity Attributable to Parent	(396,466)	(356,443)
Non-controlling interest in subsidiary	0	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(396,466)	(356,443)
Total liabilities and equity	(589,478)	(486,881)
Non-Guarantor Subsidiaries [Member]
Cash and cash equivalents	147	188
Restricted cash	0	0
Contracts and accounts receivable	0	0
Intercompany Receivables	0	0
Due from affiliates	0	0
Real estate inventories	0	0
Investment in and advances to unconsolidated joint ventures	0	0
Investment in subsidiaries	0	0
Other assets	0	0
Total assets	147	188
Accounts payable	0	6
Accrued expenses and other liabilities	71	80
Intercompany Payables	0	0
Due to Affiliate	0	0
Unsecured revolving credit facility	0
Senior notes, net	0	0
Total liabilities	71	86
Stockholders' Equity Attributable to Parent	0	12
Non-controlling interest in subsidiary	76	90
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	76	102
Total liabilities and equity	147	188
Guarantor Subsidiaries [Member]
Cash and cash equivalents	13,249	23,772
Restricted cash	269	424
Contracts and accounts receivable	18,926	24,238
Intercompany Receivables	0	0
Due from affiliates	1,218	1,060
Real estate inventories	566,290	416,143
Investment in and advances to unconsolidated joint ventures	34,330	55,824
Investment in subsidiaries	0	0
Other assets	14,812	15,827
Total assets	649,094	537,288
Accounts payable	39,151	23,479
Accrued expenses and other liabilities	21,129	27,954
Intercompany Payables	192,341	129,414
Due to Affiliate	7	10
Unsecured revolving credit facility	0
Senior notes, net	0	0
Total liabilities	252,628	180,857
Stockholders' Equity Attributable to Parent	396,466	356,431
Non-controlling interest in subsidiary	0	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	396,466	356,431
Total liabilities and equity	649,094	537,288
Parent Company [Member]
Cash and cash equivalents	28,877	99,586
Restricted cash	0	0
Contracts and accounts receivable	7	10
Intercompany Receivables	192,341	129,414
Due from affiliates	0	0
Real estate inventories	0	0
Investment in and advances to unconsolidated joint ventures	0	0
Investment in subsidiaries	396,466	356,443
Other assets	18,643	8,464
Total assets	636,334	593,917
Accounts payable	240	237
Accrued expenses and other liabilities	8,492	11,034
Intercompany Payables	0	0
Due to Affiliate	0	0
Unsecured revolving credit facility	67,500
Senior notes, net	320,148	318,656
Total liabilities	396,380	329,927
Stockholders' Equity Attributable to Parent	239,954	263,990
Non-controlling interest in subsidiary	0	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	239,954	263,990
Total liabilities and equity	$ 636,334	$ 593,917

Supplemental Guarantor Inform_4

Supplemental Guarantor Information Supplemental Condensed Consolidating Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Home sales	$ 187,258	$ 119,874	$ 117,460	$ 79,437	$ 279,885	$ 114,622	$ 96,929	$ 69,406	$ 504,029	$ 560,842	$ 507,949
Fee building, including management fees from unconsolidated joint ventures of $3,385, $4,945 and $8,202, respectively	42,408	39,240	38,095	43,794	44,217	43,309	47,181	55,617	163,537	190,324	186,507
Revenue, Net									667,566	751,166	694,456
Home sales	162,034	102,124	102,678	69,694	234,668	95,992	82,488	60,065	436,530	473,213	433,559
Home sales impairments	10,000	0	0	0	900	0	1,300	0	10,000	2,200	2,350
Impairment of Real Estate Land									0	0	1,150
Fee building	41,275	38,124	37,038	42,699	43,194	41,808	45,899	53,926	159,136	184,827	178,103
Cost of Sales									605,666	660,240	615,162
Gross Profit Home Sales	15,224	17,750	14,782	9,743	44,317	18,630	13,141	9,341	57,499	85,429	72,040
Gross Profit Fee Building	1,133	1,116	1,057	1,095	1,023	1,501	1,282	1,691	4,401	5,497	8,404
Gross Profit Land Sales									0	0	(1,150)
Gross Profit									61,900	90,926	79,294
Selling and marketing expenses									(36,065)	(32,702)	(26,744)
General and administrative expenses									(25,966)	(26,330)	(25,882)
Equity in net income (loss) of unconsolidated joint ventures									(19,653)	866	7,691
Equity in net income (loss) of subsdiaries									0	0	0
Other income (expense), net									(521)	(229)	(409)
Pretax income (loss)	(22,376)	3,400	182	(1,511)	21,692	6,974	2,505	1,360	(20,305)	32,531	33,950
(Provision) benefit for income taxes									6,075	(15,390)	(13,024)
Net income (loss)									(14,230)	17,141	20,926
Net loss attributable to non-controlling interest									14	11	96
Net Income (Loss) Attributable to The New Home Company Inc.	(16,150)	$ 2,459	$ 115	$ (640)	10,471	$ 4,318	$ 1,517	$ 846	(14,216)	17,152	21,022
Cash and cash equivalents	42,273				123,546				42,273	123,546	30,496
Guarantor Subsidiaries [Member]
Home sales									504,029	560,842	502,792
Fee building, including management fees from unconsolidated joint ventures of $3,385, $4,945 and $8,202, respectively									163,537	190,324	186,662
Revenue, Net									667,566	751,166	689,454
Home sales									436,508	473,181	428,881
Home sales impairments									10,000	2,200	2,350
Impairment of Real Estate Land											1,150
Fee building									159,136	184,827	175,863
Cost of Sales									605,644	660,208	608,244
Gross Profit Home Sales									57,521	85,461	71,561
Gross Profit Fee Building									4,401	5,497	10,799
Gross Profit Land Sales											(1,150)
Gross Profit									61,922	90,958	81,210
Selling and marketing expenses									(36,065)	(32,702)	(26,058)
General and administrative expenses									(30,293)	(23,927)	(11,163)
Equity in net income (loss) of unconsolidated joint ventures									(19,653)	866	7,691
Equity in net income (loss) of subsdiaries									0	0	0
Other income (expense), net									(455)	(336)	(303)
Pretax income (loss)									(24,544)	34,859	51,377
(Provision) benefit for income taxes									(7,183)	13,065	19,033
Net income (loss)									(17,361)	21,794	32,344
Net loss attributable to non-controlling interest									0	0	0
Net Income (Loss) Attributable to The New Home Company Inc.									(17,361)	21,794	32,344
Cash and cash equivalents	13,249				23,772				13,249	23,772
Non-Guarantor Subsidiaries [Member]
Home sales									0	0	5,157
Fee building, including management fees from unconsolidated joint ventures of $3,385, $4,945 and $8,202, respectively									0	0	0
Revenue, Net									0	0	5,157
Home sales									22	32	4,678
Home sales impairments									0	0	0
Impairment of Real Estate Land											0
Fee building									0	0	0
Cost of Sales									22	32	4,678
Gross Profit Home Sales									(22)	(32)	479
Gross Profit Fee Building									0	0	0
Gross Profit Land Sales											0
Gross Profit									(22)	(32)	479
Selling and marketing expenses									0	0	(686)
General and administrative expenses									(3)	0	0
Equity in net income (loss) of unconsolidated joint ventures									0	0	0
Equity in net income (loss) of subsdiaries									0	0	0
Other income (expense), net									0	0	(142)
Pretax income (loss)									(25)	(32)	(349)
(Provision) benefit for income taxes									0	0	0
Net income (loss)									(25)	(32)	(349)
Net loss attributable to non-controlling interest									14	11	96
Net Income (Loss) Attributable to The New Home Company Inc.									(11)	(21)	(253)
Cash and cash equivalents	147				188				147	188
Parent Company [Member]
Home sales									0	0	0
Fee building, including management fees from unconsolidated joint ventures of $3,385, $4,945 and $8,202, respectively									0	0	0
Revenue, Net									0	0	0
Home sales									0	0	0
Home sales impairments									0	0	0
Impairment of Real Estate Land											0
Fee building									0	0	2,240
Cost of Sales									0	0	2,240
Gross Profit Home Sales									0	0	0
Gross Profit Fee Building									0	0	(2,240)
Gross Profit Land Sales											0
Gross Profit									0	0	(2,240)
Selling and marketing expenses									0	0	0
General and administrative expenses									4,330	(2,403)	(14,719)
Equity in net income (loss) of unconsolidated joint ventures									0	0	0
Equity in net income (loss) of subsdiaries									(17,372)	21,773	32,091
Other income (expense), net									(66)	107	(119)
Pretax income (loss)									(13,108)	19,477	15,013
(Provision) benefit for income taxes									1,108	2,325	(6,009)
Net income (loss)									(14,216)	17,152	21,022
Net loss attributable to non-controlling interest									0	0	0
Net Income (Loss) Attributable to The New Home Company Inc.									(14,216)	17,152	21,022
Cash and cash equivalents	28,877				99,586				28,877	99,586
Consolidation, Eliminations [Member]
Home sales									0	0	0
Fee building, including management fees from unconsolidated joint ventures of $3,385, $4,945 and $8,202, respectively									0	0	(155)
Revenue, Net									0	0	(155)
Home sales									0	0	0
Home sales impairments									0	0	0
Impairment of Real Estate Land											0
Fee building									0	0	0
Cost of Sales									0	0	0
Gross Profit Home Sales									0	0	0
Gross Profit Fee Building									0	0	(155)
Gross Profit Land Sales											0
Gross Profit									0	0	(155)
Selling and marketing expenses									0	0	0
General and administrative expenses									0	0	0
Equity in net income (loss) of unconsolidated joint ventures									0	0	0
Equity in net income (loss) of subsdiaries									17,372	(21,773)	(32,091)
Other income (expense), net									0	0	155
Pretax income (loss)									17,372	(21,773)	(32,091)
(Provision) benefit for income taxes									0	0	0
Net income (loss)									17,372	(21,773)	(32,091)
Net loss attributable to non-controlling interest									0	0	0
Net Income (Loss) Attributable to The New Home Company Inc.									17,372	(21,773)	$ (32,091)
Cash and cash equivalents	$ 0				$ 0				$ 0	$ 0

Supplemental Guarantor Inform_5

Supplemental Guarantor Information Supplemental Condensed Consolidated Statement of Cash Flows (Details) - USD ($) $ in Thousands	Oct. 23, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net Cash Provided by (Used in) Operating Activities		$ (139,685)	$ (90,863)	$ (42,812)
Purchases of property and equipment		(246)	(195)	(439)
Cash assumed from joint venture at consolidation		0	995	2,610
Contributions and advances to unconsolidated joint ventures		(15,066)	(27,479)	(15,088)
Contributions to Subsidiaries from Corporate		0	0	0
Distributions of Equity from Subsidiaries		0	0	0
Distributions of capital and repayment of advances from unconsolidated joint ventures		15,436	15,577	15,307
Interest collected on advances to unconsolidated joint ventures		178	552
Net Cash Provided by (Used in) Investing Activities		302	(10,550)	2,390
Borrowings from credit facility		150,000	88,000	223,050
Repayments of credit facility		(82,500)	(206,000)	(179,974)
Proceeds from senior notes		0	324,465	0
Borrowings from other notes payable		0	0	343
Repayments of other notes payable	$ 0		(4,110)	(15,636)
Payment of debt issuance costs		0	(7,565)	(1,064)
Cash distributions to non-controlling interest in subsidiary		0	0	(725)
Contributions to subsidiaries from corporate		0	0	0
Distributions to Corporate from Subsidiaries		0	0	0
Repurchase of common stock		(8,563)	0	0
Tax withholding paid on behalf of employees for stock awards		(982)	(590)	(648)
Excess income tax benefit from stock-based compensation		0	0	(97)
Proceeds from exercise of stock options		0	102	0
Net Cash Provided by (Used in) Financing Activities		57,955	194,302	25,249
Net (decrease) increase in cash, cash equivalents and restricted cash		(81,428)	92,889	(15,173)
Cash, cash equivalents and restricted cash – end of period		42,542	123,970	31,081	$ 46,254
Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities		(71,789)	(41,900)	(12,149)
Purchases of property and equipment		(197)	(124)	(246)
Cash assumed from joint venture at consolidation			995	2,610
Contributions and advances to unconsolidated joint ventures		(15,066)	(27,479)	(15,088)
Contributions to Subsidiaries from Corporate		0	0	0
Distributions of Equity from Subsidiaries		0	0	725
Distributions of capital and repayment of advances from unconsolidated joint ventures		15,436	15,577	15,307
Interest collected on advances to unconsolidated joint ventures		178	552
Net Cash Provided by (Used in) Investing Activities		351	(10,479)	3,308
Borrowings from credit facility		0	0	0
Repayments of credit facility		0	0	0
Proceeds from senior notes			0
Borrowings from other notes payable				0
Repayments of other notes payable			(4,110)	(13,135)
Payment of debt issuance costs			0	0
Cash distributions to non-controlling interest in subsidiary				0
Contributions to subsidiaries from corporate		249,435	275,794	225,169
Distributions to Corporate from Subsidiaries		(188,675)	(209,536)	(216,286)
Repurchase of common stock		0
Tax withholding paid on behalf of employees for stock awards		0	0	0
Excess income tax benefit from stock-based compensation				0
Proceeds from exercise of stock options			0
Net Cash Provided by (Used in) Financing Activities		60,760	62,148	(4,252)
Net (decrease) increase in cash, cash equivalents and restricted cash		(10,678)	9,769	(13,093)
Cash, cash equivalents and restricted cash – end of period		13,518	24,196	14,427	27,520
Non-Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities		(41)	(81)	3,272
Purchases of property and equipment		0	0	0
Cash assumed from joint venture at consolidation			0	0
Contributions and advances to unconsolidated joint ventures		0	0	0
Contributions to Subsidiaries from Corporate		0	0	0
Distributions of Equity from Subsidiaries		0	0	0
Distributions of capital and repayment of advances from unconsolidated joint ventures		0	0	0
Interest collected on advances to unconsolidated joint ventures		0	0
Net Cash Provided by (Used in) Investing Activities		0	0	0
Borrowings from credit facility		0	0	0
Repayments of credit facility		0	0	0
Proceeds from senior notes			0
Borrowings from other notes payable				343
Repayments of other notes payable			0	(2,501)
Payment of debt issuance costs			0	0
Cash distributions to non-controlling interest in subsidiary				(725)
Contributions to subsidiaries from corporate		0	0	0
Distributions to Corporate from Subsidiaries		0	0	(725)
Repurchase of common stock		0
Tax withholding paid on behalf of employees for stock awards		0	0	0
Excess income tax benefit from stock-based compensation				0
Proceeds from exercise of stock options			0
Net Cash Provided by (Used in) Financing Activities		0	0	(3,608)
Net (decrease) increase in cash, cash equivalents and restricted cash		(41)	(81)	(336)
Cash, cash equivalents and restricted cash – end of period		147	188	269	605
Parent Company [Member]
Net Cash Provided by (Used in) Operating Activities		(63,076)	(31,824)	(7,041)
Purchases of property and equipment		(49)	(71)	(193)
Cash assumed from joint venture at consolidation			0	0
Contributions and advances to unconsolidated joint ventures		0	0	0
Contributions to Subsidiaries from Corporate		(249,435)	(275,794)	(225,169)
Distributions of Equity from Subsidiaries		183,896	192,478	189,392
Distributions of capital and repayment of advances from unconsolidated joint ventures		0	0	0
Interest collected on advances to unconsolidated joint ventures		0	0
Net Cash Provided by (Used in) Investing Activities		(65,588)	(83,387)	(35,970)
Borrowings from credit facility		150,000	88,000	223,050
Repayments of credit facility		(82,500)	(206,000)	(179,974)
Proceeds from senior notes			324,465
Borrowings from other notes payable				0
Repayments of other notes payable			0	0
Payment of debt issuance costs			(7,565)	(1,064)
Cash distributions to non-controlling interest in subsidiary				0
Contributions to subsidiaries from corporate		0	0	0
Distributions to Corporate from Subsidiaries		0	0	0
Repurchase of common stock		(8,563)
Tax withholding paid on behalf of employees for stock awards		(982)	(590)	(648)
Excess income tax benefit from stock-based compensation				(97)
Proceeds from exercise of stock options			102
Net Cash Provided by (Used in) Financing Activities		57,955	198,412	41,267
Net (decrease) increase in cash, cash equivalents and restricted cash		(70,709)	83,201	(1,744)
Cash, cash equivalents and restricted cash – end of period		28,877	99,586	16,385	18,129
Consolidation, Eliminations [Member]
Net Cash Provided by (Used in) Operating Activities		(4,779)	(17,058)	(26,894)
Purchases of property and equipment		0	0	0
Cash assumed from joint venture at consolidation			0	0
Contributions and advances to unconsolidated joint ventures		0	0	0
Contributions to Subsidiaries from Corporate		249,435	275,794	225,169
Distributions of Equity from Subsidiaries		(183,896)	(192,478)	(190,117)
Distributions of capital and repayment of advances from unconsolidated joint ventures		0	0	0
Interest collected on advances to unconsolidated joint ventures		0	0
Net Cash Provided by (Used in) Investing Activities		65,539	83,316	35,052
Borrowings from credit facility		0	0	0
Repayments of credit facility		0	0	0
Proceeds from senior notes			0
Borrowings from other notes payable				0
Repayments of other notes payable			0	0
Payment of debt issuance costs			0	0
Cash distributions to non-controlling interest in subsidiary				0
Contributions to subsidiaries from corporate		(249,435)	(275,794)	(225,169)
Distributions to Corporate from Subsidiaries		188,675	209,536	217,011
Repurchase of common stock		0
Tax withholding paid on behalf of employees for stock awards		0	0	0
Excess income tax benefit from stock-based compensation				0
Proceeds from exercise of stock options			0
Net Cash Provided by (Used in) Financing Activities		(60,760)	(66,258)	(8,158)
Net (decrease) increase in cash, cash equivalents and restricted cash		0	0	0
Cash, cash equivalents and restricted cash – end of period		$ 0	$ 0	$ 0	$ 0

Supplemental Guarantor Inform_6

Supplemental Guarantor Information Supplemental Guarantor Info (Details)	Dec. 31, 2018
Supplemental Guarantor Info [Abstract]
Interest rate	7.25%