Century Communities (CCS) 10-Q 6 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Entity Registrant Name	Century Communities, Inc.
Entity Central Index Key	1,576,940
Entity Filer Category	Accelerated Filer
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Trading Symbol	ccs
Entity Common Stock, Shares Outstanding		21,100,880

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 11,437	$ 29,287
Accounts receivable	17,192	17,058
Inventories	867,357	810,137
Prepaid expenses and other assets	26,147	26,735
Property and equipment, net	9,983	8,375
Amortizable intangible assets, net	4,140	4,784
Goodwill	21,365	21,365
Total Assets	957,621	917,741
Liabilities:
Accounts payable	13,538	10,967
Accrued expenses and other liabilities	112,092	106,777
Deferred tax liability, net	411	275
Notes payable and revolving line of credit	415,051	390,243
Total liabilities	$ 541,092	$ 508,262
Stockholders' equity:
Preferred Stock, $0.01 par value, 50,000,000 shares authorized, none outstanding
Common stock, $0.01 par value, 100,000,000 shares authorized, 21,101,574 and 21,303,702 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	$ 211	$ 213
Additional paid-in capital	340,022	340,953
Retained earnings	76,296	68,313
Total stockholders' equity	416,529	409,479
Total liabilities and stockholders' equity	$ 957,621	$ 917,741

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Condensed Consolidated Balance Sheets [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock shares authorized	50,000,000	50,000,000
Preferred stock shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock shares authorized	100,000,000	100,000,000
Common stock shares issued	21,101,574	21,303,702
Common stock shares outstanding	21,101,574	21,303,702

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues
Home sales revenues	$ 181,081	$ 154,335
Land sales revenues	1,970
Golf course and other revenue	1,045	2,103
Total revenue	184,096	156,438
Costs and expenses
Cost of home sales revenues	144,353	124,806
Cost of land sales revenues	1,826
Cost of golf course and other revenue	716	1,506
Selling, general, and administrative	25,185	20,932
Total operating costs and expenses	172,080	147,244
Operating income (loss)	12,016	9,194
Other income (expense):
Interest income	40	16
Interest expense	(2)	(3)
Acquisition expense	(169)
Other income	324	317
Gain on disposition of assets	220
Income before income tax expense	12,429	9,524
Income tax expense	4,446	3,173
Net income	$ 7,983	$ 6,351
Earnings per share:
Basic and diluted	$ 0.38	$ 0.30
Weighted average common shares outstanding:
Basic	20,626,451	20,509,679
Diluted	20,645,247	20,509,679

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities
Net income	$ 7,983	$ 6,351
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	1,404	988
Stock-based compensation expense	1,715	1,056
Deferred income taxes	137	(453)
Gain on disposition of assets	(220)
Changes in assets and liabilities:
Accounts receivable	(134)	(5,005)
Inventories	(51,637)	(43,583)
Prepaid expenses and other assets	347	872
Accounts payable	2,571	(7,653)
Accrued expenses and other liabilities	270	9,654
Net cash used in operating activities	(37,564)	(37,773)
Investing activities
Purchases of property and equipment	(2,784)	(1,215)
Proceeds from sale of assets	636
Principal payments on notes receivable	24
Net cash used in investing activities	(2,124)	(1,215)
Financing activities
Borrowings under revolving credit facilities	50,000	35,000
Payments on revolving credit facilities	(25,000)
Principal payments from notes payable	(515)	(2,442)
Debt issuance costs		(385)
Repurchases of common stock upon vesting of restricted stock awards	(254)
Repurchases of common stock under our stock repurchase program	(2,393)
Net cash provided by financing activities	21,838	32,173
Net increase (decrease) in cash and cash equivalents	(17,850)	(6,815)
Cash and cash equivalents, Beginning of period	29,287	33,462
Cash and cash equivalents, End of period	11,437	26,647
Supplemental cash flow disclosure
Cash paid for income taxes	$ 582	$ 3,483

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation Century Communities, Inc. (which we refer to as “we,” “CCS” or the “Company”) is engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in metropolitan areas in Colorado, Austin and San Antonio, Texas (which we refer to as “Central Texas”), Houston, Texas, Las Vegas, Nevada, and Atlanta, Georgia. Our homebuilding operations are organized into the following five operating segments based on the geographic markets in which we operate: Atlanta, Central Texas, Colorado, Houston and Nevada. In many of our projects, in addition to building homes, we are responsible for the entitlement and development of the underlying land. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (which we refer to as “GAAP”) for interim financial statements and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (which we refer to as the “SEC”). In the o pinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation of its financial position and results of operations. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year. The financial statements and related notes do not include all information and footnotes required by GAAP and should be read in conjunction with the consolidated financial statements for the year ended December 31, 2015, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 that was filed with the SEC on February 19, 2016. Principles of Consolidation The consolidated financial statements include the accounts of the Company, as well as all subsidiaries in which we have a controlling interest, and variable interest entities for which the Company is deemed to be the primary beneficiary. All intercompany accounts and transactions have been eliminated. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results could differ from those estimates. Recently Issued Accounting Standards In August 2015, the Financial Accounting Standards Board (which we refer to as “FASB”) issued ASU 2015-14, “Revenue from Contracts with Customers (Topic 606).” ASU 2015-14 defers the effective date of ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” for public entities by one year to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted as of annual reporting periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-14 will have on our consolidated financial statements. We do not intend to adopt ASU 2015-14 early. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” ASU 2016-02 requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. ASU 2016-02 is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods. We are currently evaluating the impact ASU 2016-02 will have on our consolidated financial statements.  In March 2016, the FASB issued ASU 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted in any interim or annual period. We are currently evaluating the impact ASU 2016-09 will have on our consolidated financial statements. 

Reporting Segments

Reporting Segments	3 Months Ended
	Mar. 31, 2016
Reporting Segments [Abstract]
Reporting Segments	2. Reporting Segments Our homebuilding operations are organized into the following five operating segments based on the geographic markets in which we operate: Atlanta, Central Texas, Colorado, Houston and Nevada. Our Corporate operations are a non-operating segment, as it serves to support our homebuilding operations through functions such as our executive, finance, treasury, human resources, and accounting departments. In addition, our Corporate operations include certain assets and income produced from residential rental property in Colorado. Our homebuilding reportable segments are engaged in the development, design, construction, marketing and sale of single-family attached and detached homes. The following table summarize s total revenue and income before income tax expense by operating segment (in thousands):     Three Months Ended  March 31,  2016 2015   Revenue:  Atlanta $ 64,522 $ 56,640  Central Texas 29,124 17,036  Colorado 68,846 55,819  Houston 7,475 10,405  Nevada 14,129 16,538  Total revenue $ 184,096 $ 156,438   Income before income tax expense:  Atlanta $ 5,250 $ 3,213  Central Texas 2,176 2,161  Colorado 10,843 7,895  Houston (794) (415)  Nevada 867 1,817  Corporate (5,913) (5,147)  Total income before income tax expense $ 12,429 $ 9,524  The following table summarizes total assets by operating segment (in thousands):    March 31, December 31,  2016 2015  Atlanta $ 216,729 $ 185,331  Central Texas 121,748 117,037  Colorado 320,822 313,653  Houston 48,513 51,534  Nevada 236,330 220,209  Corporate 13,479 29,977  Total assets $ 957,621 $ 917,741 Corporate assets include certain cash and cash equivalents, prepaid insurance, deferred financing costs, and certain property and equipment.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventories [Abstract]
Inventory	 3. Inventories Inventories included the following (in thousands):     March 31, December 31,  2016 2015  Homes under construction $ 469,355 $ 374,274  Land and land development 373,156 414,330  Capitalized interest 24,846 21,533  Total inventories $ 867,357 $ 810,137

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	3 Months Ended
	Mar. 31, 2016
Prepaid Expenses and Other Assets [Abstract]
Prepaid Expenses and Other Assets	4. Prepaid Expenses and Other Assets Prepaid expenses and other assets included the following (in thousands):      March 31, December 31,  2016 2015  Prepaid insurance $ 4,827 $ 5,696  Lot option and escrow deposits 4,991 4,634  Performance deposits 1,412 1,404  Deferred financing costs, net 2,137 2,318  Restricted cash 1,200 360  Secured note receivable 2,923 2,947  Assets held for sale 5,839 5,797  Other 2,818 3,579  Total prepaid expenses and other assets $ 26,147 $ 26,735

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	3 Months Ended
	Mar. 31, 2016
Accrued Expenses and Other Liabilities [Abstract]
Accrued Expenses and Other Liabilities	 5. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities included the following (in thousands):     March 31, December 31,  2016 2015  Earnest money deposits $ 8,424 $ 6,717  Warranty reserve 2,542 2,622  Accrued compensation costs 3,773 8,114  Land development and home construction accruals 84,121 83,322  Accrued interest 7,267 2,651  Income taxes payable 2,863 374  Liabilities related to assets held for sale 298 223  Other 2,804 2,754  Total accrued expenses and other liabilities $ 112,092 $ 106,777 

Warranty Reserve

Warranty Reserve	3 Months Ended
	Mar. 31, 2016
Warranty Reserve [Abstract]
Warranty Reserve	6. Warranty Reserve  Estimated future direct warranty costs are accrued and charged to cost of home sales revenues in the period when the related home sales revenues are recognized. Amounts accrued, which are included in accrued expenses and other liabilities on the consolidated balance sheets, are based upon historical experience rates. We subsequently assess the adequacy of our warranty accrual on a quarterly basis through an internal model that incorporates historical payment trends and adjust the amounts recorded if necessary. Based on favorable warranty payment trends relative to our estimates at the time of home closing, we reduced our warranty reserve by $0.4 million during the three months ended March 31, 2016 , which is included as a reduction to cost of homes sales revenues on our consolidated statement of operations. The following table summarizes the changes in our warranty accrual (in thousands):    Three Months Ended  March 31,  2016 2015  Beginning balance $ 2,622 $ 2,194  Warranty expense provisions 570 575  Payments (265) (242)  Warranty adjustment (385) —  Ending balance $ 2,542 $ 2,527

Notes Payable and Revolving Lin

Notes Payable and Revolving Line of Credit	3 Months Ended
	Mar. 31, 2016
Notes Payable and Revolving Line of Credit [Abstract]
Notes Payable and Revolving Line of Credit	7. Notes Payable and Revolving Line of Credit Notes payable and revolving line of credit included the following (in thousands):     March 31, December 31,  2016 2015  6.875% senior notes $ 252,139 $ 251,815  Revolving line of credit 160,000 135,000  Land development notes 2,369 2,677  Insurance premium notes 543 751  Total notes payable and revolving line of credit $ 415,051 $ 390,243    6.875% senior notes In May 2014, we completed a private offering of $200.0 million in aggregate principal amount of senior unsecured notes due 2022 (which we refer to as the “Initial Senior Notes”) in reliance on Rule 144A and Regulation S under the Securities Act of 1933, as amended (which we refer to as the “Securities Act”). The Initial Senior Notes were issued at a price equal to 99.239% of their principal amount, and we received net proceeds of approximately $193.3 million. In February 2015, we completed an offer to exchange $200.0 million in aggregate principal amount of our 6.875% senior notes due 2022 , which are registered under the Securities Act (which we refer to as the “Initial Exchange Notes”), for all of the Initial Senior Notes. The terms of the Initial Exchange Notes are identical in all material respects to the Initial Senior Notes, except that the Initial Exchange Notes are registered under the Securities Act and the transfer restrictions, registration rights, and additional interest provisions applicable to the Initial Senior Notes do not apply to the Initial Exchange Notes. In April 2015, we completed a private offering of an additional $60 million in aggregate principal amount of our 6.875% senior notes due 2022 (which we refer to as the “Additional Senior Notes”) in reliance on Rule 144A and Regulation S under the Securities Act. The Additional Senior Notes were issued at a price equal to 98.26% of their principal amount, and we received net proceeds of approximately $58.5 million. The Additional Senior Notes are additional notes issued under the indenture pursuant to which the initial $200 million in aggregate principal amount of Initial Senior Notes were issued. In October 2015, we completed an offer to exchange $60.0 million in aggregate principal amount of our 6.875% senior notes due 2022 , which are registered under the Securities Act (which we refer to as the “Additional Exchange Notes”), for all of the Additional Senior Notes. The terms of the Additional Exchange Notes are identical in all material respects to the Additional Senior Notes, except that the Additional Exchange Notes are registered under the Securities Act and the transfer restrictions, registration rights, and additional interest provisions applicable to the Additional Senior Notes do not apply to the Additional Exchange Notes. The Initial Exchange Notes and the Additional Exchange Notes bear the same CUSIP number, are fungible with each other, and are treated as a single series of notes under the indenture. We refer to the Initial Exchange Notes and the Additional Exchange Notes, collectively, as the “Senior Notes.” The Senior Notes carry a coupon of 6.875% per annum. The Senior Notes are unsecured senior obligations which are guaranteed on an unsecured senior basis by certain of our current and future subsidiaries. The Senior Notes contain certain restrictive covenants on issuing future secured debt and other transactions. The aggregate principal balance of the Senior Notes is due May 2022 , with interest only payments due semi-annually in May and November of each year. Revolving line of credit On October 21, 2014, we entered into a credit agreement with Texas Capital Bank, National Association, as Administrative Agent and L/C Issuer, and the lenders from time to time party thereto (which , as modified as described below, we refer to as the “Credit Agreement”). The Credit Agreement provide d us with a revolving line of credit of up to $120 million (which , as modified as described below, we refer to as the “Revolving Credit Facility”). Under the terms of the Credit Agreement, we were entitled to request an increase in the size of the Revolving Credit Facility by an amount not exceeding $80 million. If the existing lenders elect not to provide the full amount of a requested increase, we may invite one or more other lender(s) to become a party to the Credit Agreement, subject to the approval of the Administrative Agent and L/C Issuer. The Credit Agreement includes a letter of credit sublimit of $20 million. The obligations under the Revolving Credit Facility were guaranteed by certain of our subsidiaries. On July 31, 2015, we entered into a First Modification Agreement with Texas Capital Bank, National Association, as Administrative Agent, the lenders party thereto, and our subsidiary guarantors party thereto, which modified the Credit Agreement. The First Modification Agreement, among other things, (i) increased the Revolving Credit Facility from $120 million to $200 million, (ii) extended the maturity date of the Revolving Credit Facility from October 21, 2017 to October 21, 2018 , (iii) admitted Bank of America, N.A. as a new lender under the Rev olving Credit Facility, and ( iv) increased the amount of the increase in the size of the Revolving Credit Facility that we had the option to request, from time to time, from an amount not exceeding $80 million to an amount not exceeding $100 million, subject to the terms and conditions of the First Modification Agreement and the Credit Agreement. On December 22, 2015, we entered into a Second Modification Agreement with Texas Capital Bank, National Association, as Administrative Agent, the lenders party thereto, and our subsidiary guarantors party thereto, which further modified the Credit Agreement. The Second Modification Agreement, among other things, (i) increased the Revolving Credit Facility from $200 million to $300 million, and (ii) admitted Compass Bank, an Alabama Banking Corporation, and U.S. Bank National Association as new lenders under the Revolving Credit Facility. Unless terminated earlier , the principal amount under the Revolving Credit Facility, together with all accrued unpaid interest and other amounts owing thereunder, if any, will be payable in full on October 21, 2018, the maturity date of the Revolving Credit Facility. Borrowings under the Revolving Credit Facility bear interest at a floating rate equal to the L ondon Interbank Offered Rate plus an applicable margin between 2.75% and 3.25% per annum, or, in the Administrative Agent’s discretion, a base rate plus an applicable margin between 1.75% and 2.25% per annum. The “applicable margins” described above are determined by a schedule based on our leverage ratio, as defined in the Credit Agreement. The Credit Agreement also provides for fronting fees and letter of credit fees payable to the L/C Issuer and commitment fees payable to the Administrative Agent equal to 0.20% of the unused portion of the Revolving Credit Facility. The Credit Agreement contains customary affirmative and negative covenants (including limitations on our ability to grant liens, incur additional debt, pay dividends, redeem our common stock, make certain investments , and engage in certain merger, consolidation or asset sale transactions), as well as customary events of default. The Credit Agreement also requires us to maintain (i) a leverage ratio of not more than 1.50 to 1.0 as of the last day of any fiscal quarter, based upon our and our subsidiaries’ (on a consolidated basis) ratio of debt to tangible net worth, (ii) an interest coverage ratio of not less than 1.50 to 1.0 for any four fiscal quarter period, based upon our and our subsidiaries’ (on a consolidated basis) ratio of EBITDA to cash interest expense, (iii) a consolidated tangible net worth of not less than the sum of $250 million, plus 50% of the net proceeds of any issuances of equity interests by us and the guarantors of the Revolving Credit Facility, plus 50% of the amount of our and our subsidiaries’ consolidated net income, (iv) liquidity of not less than $25 million, and (v) a risk asset ratio of not more than 1.25 to 1.0 , based upon the ratio of the book value of all risk assets owned by us and our subsidiaries to our tangible net worth. As of March 31, 2016, we were in compliance with all covenants under the Credit Agreement. As of March 31, 2016, we had $160.0 million outstanding under the Credit Agreement. Other financing obligations As of March 31, 2016, the Company has three land development notes, two of which mature in May 2016 and one in December 2017 , and one insurance premium note which matures in March 2017 . These notes bear interest at rates ranging from 0.5% to 5.0% . As of March 31, 2016 and December 31, 2015, we had $2.9 million and $3.4 million, respectively, of outstanding land development notes and insurance premium notes.

Interest

Interest	3 Months Ended
	Mar. 31, 2016
Interest [Abstract]
Interest	8. Interest Interest is capitalized to inventories while the related communities are being actively developed and until homes are completed. As our qualifying assets exceeded our outstanding debt during the three months ended March 3 1 , 201 6 and 201 5 , we capitalized all interest costs incurred during these periods, except for interest incurred on capital leases of equipment related to our golf course operations. Our interest costs are as follows (in thousands):    Three Months Ended  March 31,  2016 2015  Interest capitalized beginning of period $ 21,533 $ 11,302  Interest capitalized during period 6,380 3,919  Less: capitalized interest in cost of sales (3,067) (1,621)  Interest capitalized end of period $ 24,846 $ 13,600 

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Taxes [Abstract]
Income Taxes	9 . Income Taxes At the end of each interim period we are required to estimate our annual effective tax rate for the fiscal year, and to use that rate to provide for income taxes for the current year-to-date reporting period. Accordingly, we recorded income tax expense of $ 4. 4 million and $3.2 million for the three months ended March 31 , 201 6 and 201 5 , respectively. Our income tax expense for the three months ended March 31 , 201 6 is based on our estimated annual effective tax rate of approximately 34.5% and a discrete item related to vesting of restricted stock awards . Our effective tax rate is driven by our blended federal and state statutory rate of 37.2% . Our blended federal and state statutory tax rate is reflective of the states in which we operate, including Nevada and Texas which generally do not have corporate income tax. Our blended federal and state statutory tax rate is partially offset by benefits from additional deductions for tax related to domestic production activities allowed for under Section 199 of the Internal Revenue Code.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures	1 0 . Fair Value Disclosures A ccounting Standards Codification Topic 820, Fair Value Measurement , 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. The following table presents carrying values and estimated fair values of financial instruments (in thousands):     March 31, 2016 December 31, 2015  Hierarchy Carrying Fair Value Carrying Fair Value  Secured note receivable (1) Level 2 $ 2,923 $ 2,962 $ 2,947 $ 2,926   6.875% Senior Notes (2) Level 2 $ 252,139 $ 242,492 $ 251,815 $ 232,503  Revolving Credit Facility (3) Level 2 160,000 160,000 135,000 135,000  Land development notes (4) Level 2 2,369 2,437 2,677 2,672  Insurance premium notes (3) Level 2 543 543 751 751  Total notes payable and revolving line of credit $ 415,051 $ 405,472 $ 390,243 $ 370,926 (1) Th e estimated fair value of the secured note received in connection with the disposition of the golf course in our Tuscany community in our Nevada operating segment as of March 31, 2016 was based on a cash flow model discounted at market interest rates that considered the underlying risks of the not e. (2) Estimated fair value of the S enior N otes at March 31, 2016 and December 31, 2015 incorporated recent trading activity in inactive markets. (3) Carrying amount approximates fair value due to short-term nature and interest rate terms. (4) The estimated fair values of the land development notes at March 31, 2016 and December 31, 201 5 were based on cash flow models discounted at market interest rates that considered underlying risks of the debt. The carrying amount of cash and cash equivalents approximates fair value. Non-financial assets and liabilities include items such as inventory and long-lived assets that are measured at fair value when acquired and resulting from impairment, if deemed necessary.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2016
Stock-Based Compensation [Abstract]
Stock-Based Compensation	1 1 . Stock-Based Compensation Our authorized capital stock consists of 100.0 million shares of common stock, par value $ 0.01 per share, and 50.0 million shares of preferred stock, par value $ 0.01 per share . As of March 31 , 201 6 and December 31, 201 5 , there were 20.6 million and 20.6 million shares of common stock issued and outstanding, respectively , exclusive of the restricted common stock issued. During the three months ended March 31, 2016 we repurchased 0.2 million shares of our common stock at a weighted average price of $15.03 per share. We also issued 0.2 million shares of common stock related to the vesting of restricted stock awards during the same period. We had reserved a total of 1.8 million shares of our common stock for issuance under our First Amended & Restated 2013 Long-Term Incentive Plan, of which, as of March 31, 2016, 0.6 million s hares remain available for issuance . During the three months ended March 31, 2016 , we granted 0.5 million shares of restricted stock units with a weighted average grant date fair value of $14.17 per share. Such restricted stock units vest over a three year period from the grant date. Previously, we had issued awards of restricted common stock under our First Amended & Restated 2013 Long-Term Inventive Plan. A summary of our outstanding awards of restricted common stock and restricted stock units are as follows (in thousands , except years ):    As of  March 31, 2016  Restricted Common Stock Restricted Stock Units  Unvested shares/units 517 492  Unrecognized compensation cost $6,805 $6,648  Period to recognize compensation cost 1.6 years 2.9 years During the three months ended March 31 , 201 6 and 201 5 , we recognized stock-based compensation expense of $1.7 million and $ 1.1 million, respectively. Stock-based compensation expense is included in selling, general, and administrative on our consolidated statements of operations.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	1 2 . Earnings Per Share We use the two-class method of calculating earnings per share (which we refer to as “EPS”) as our non-vested restricted stock awards have non-forfeitable rights to dividends and, accordingly, represent a participating security. The two-class method is an earnings allocation method under which EPS is calculated for each class of common stock and participating security considering both dividends declared (or accumulated) and participation rights in undistributed earnings as if all such earnings had been distributed during the period. We use the treasury stock method to calculate the dilutive effect of our restricted stock units as the restricted stock units do not have participating rights. The following table sets forth the computation of basic and diluted EPS for the three months ended March 31 , 201 6 and 201 5 (in thousands, except share and per share information):   Three Months Ended  March 31,  2016 2015  Numerator  Net income $ 7,983 $ 6,351  Less: Undistributed earnings allocated to participating securities (232) (185)  Net income allocable to common stockholders $ 7,751 $ 6,166  Denominator  Weighted average common shares outstanding - basic 20,626,451 20,509,679  Dilutive effect of restricted stock units 18,796 —  Weighted average common shares outstanding - diluted 20,645,247 20,509,679  Earnings per share:  Basic and diluted $ 0.38 $ 0.30  

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	1 3 . Commitments and Contingencies Letters of Credit and Performance Bonds In the normal course of business, the Company posts letters of credit and performance bonds related to our land development performance obligations with local municipalities. As of March 31 , 201 6 and December 31, 201 5 , we had $ 63.7 million and $ 63.6 million, respectively, in letters of credit and performance bonds issued and outstanding. Litigation The Company is subject to claims and lawsuits that arise primarily in the ordinary course of business, which consist primarily of construction defect claims. It is the opinion of our management that if the claims have merit, parties other than the Company would be, at least in part, liable for the claims, and eventual outcome of these claims will not have a material adverse effect upon our consolidated financial condition, results of operations, or cash flows. When we believe that a loss is probable and estimable, we record a charge to selling, general, and administrative on our consolidated statements of operations for our estimated loss. We do not believe that the ultimate resolution of any claims and lawsuits will have a material adverse effect upon our consolidated financial position, results of operations, or cash flow. 

Disposition of Golf Courses

Disposition of Golf Courses	3 Months Ended
	Mar. 31, 2016
Disposition of Golf Courses [Abstract]
Disposition of Golf Courses	1 4 . Disposition of Golf Courses On May 26, 2015, we disposed of the operations of the golf course in our Tuscany community in our Nevada operating segment for total consideration of $4.0 million, which included $1.0 million in cash and a $3.0 million secured note, and resulted in a gain on sale of $2.0 thousand. The secured note accrues interest at rates ranging from 4.5% to 5.5% per annum and requires monthly payments of principal and interest with a balloon payment of $2.5 million of principal in May of 2020 . On May 19, 2015, we initiated our rights under a fixed price put option to dispose of the golf course in our Rhodes Ranch community in our Nevada operating segment for $5.9 million. The fixed price put option requires closing to occur on or before June 1, 2016 . Accordingly, the assets and liabilities of the Rhodes Ranch golf course have been classified as held for sale and presented in prepaid expenses and other assets and accrued expenses and other liabilities on the consolidated balance sheet as of March 31, 2016.

Supplemental Guarantor Informat

Supplemental Guarantor Information	3 Months Ended
	Mar. 31, 2016
Supplemental Guarantor Information [Abstract]
Supplemental Guarantor Information	15. Supplemental Guarantor Information In May 2014, we completed a private offering of $200 .0 million in aggregate principal amount of our 6.875% senior notes due 2022 (which we refer to as the “Initial Senior Notes”). In February 2015, we completed an offer to exchange $200.0 million in aggregate principal amount of our 6.875% senior notes due 2022, which are registered under the Securities Act (which we refer to as the “Initial Exchange Notes”), for all of the Initial Senior Notes sold and issued in the May 2014 private offering. The terms of the Initial Exchange Notes are identical in all material respects to the Initial Senior Notes, except that the Initial Exchange Notes are registered under the Securities Act and the transfer restrictions, registration rights, and additional interest provisions applicable to the Initial Senior Notes do not apply to the Initial Exchange Notes. In April 2015, we completed a private offering of an additional $60 million in aggregate principal amount of our 6.875% senior notes due 2022 (which we refer to as the “Additional Senior Notes”). In October 2015, we completed an offer to exchange $60.0 million in aggregate principal amount of our 6.875% senior notes due 2022, which are registered under the Securities Act (which we refer to as the “Additional Exchange Notes”), for all of the Additional Senior Notes. The terms of the Additional Exchange Notes are identical in all material respects to the Additional Senior Notes, except that the Additional Exchange Notes are registered under the Securities Act and the transfer restrictions, registration rights, and additional interest provisions applicable to the Additional Senior Notes do not apply to the Additional Exchange Notes. The Additional Senior Notes and the Additional Exchange Notes are additional notes issued under the indenture pursuant to which the Initial Senior Notes and Initial Exchange Notes were issued. The Initial Exchange Notes and the Additional Exchange Notes bear the same CUSIP number, are fungible with each other, and are treated as a single series of notes under the indenture. We refer to the Initial Exchange Notes and the Additional Exchange Notes, collectively, as the “Senior Notes.” The Senior Notes are our unsecured senior obligations, and are fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by substantially all of our direct and indirect wholly-owned operating subsidiaries (which we refer to as “Guarantors”). The Indenture governing the Senior 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 does not constitute an “Asset Sale” (as defined in the Indenture) or is made in compliance with applicable provisions of the Indenture; (2) upon any sale, transfer, exchange or other disposition (by merger, consolidation or otherwise) of all of the assets of such Guarantor, which sale, transfer, exchange or other disposition does not constitute an Asset Sale or is made in compliance with applicable provisions of the Indenture; provided, that after such sale, transfer, exchange or other disposition, such Guarantor is an “Immaterial Subsidiary” (as defined in the Indenture); (3) 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; provided that 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; (4) upon the designation of such Guarantor as an “Unrestricted Subsidiary” (as defined in the Indenture), in accordance with the Indenture; (5) 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; or (6) in connection with the dissolution of such Guarantor under applicable law in accordance with the Indenture. As the guarantees were made in connection with the February 2015 exchange offer for the Initial Exchange Notes and the October 2015 exchange offer for the Additional Exchange Notes, the Guarantors’ condensed financial information is presented as if the guarantees existed during the periods presented. If any Guarantors are released from the guarantees in future periods, the changes are reflected prospectively. We have determined that separate, full financial statements of the Guarantors would not be material to investors and, accordingly, supplemental financial information is presented below:     Supplemental Condensed Consolidated Balance Sheet  As of March 31, 2016 ( in thousands )  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Assets  Cash and cash equivalents $ 7,986 $ 3,451 $ — $ — $ 11,437  Accounts receivable 3 17,189 — — 17,192  Investment in subsidiaries 829,122 — — (829,122) —  Inventories — 867,357 — — 867,357  Prepaid expenses and other assets 3,170 22,977 — — 26,147  Property and equipment, net 1,003 8,980 — — 9,983  Amortizable intangible assets, net — 4,140 — — 4,140  Goodwill — 21,365 — — 21,365  Total assets $ 841,284 $ 945,459 $ — $ (829,122) $ 957,621  Liabilities and stockholders’ equity  Liabilities:  Accounts payable $ — $ 13,538 $ — $ — $ 13,538  Accrued expenses and other liabilities 12,206 99,886 — — 112,092  Deferred tax liability, net 411 — — — 411  Notes payable and revolving line of credit 412,138 2,913 — — 415,051  Total liabilities 424,755 116,337 — — 541,092  Stockholders’ equity: 416,529 829,122 — (829,122) 416,529  Total liabilities and stockholders’ equity $ 841,284 $ 945,459 $ — $ (829,122) $ 957,621      Supplemental Condensed Consolidated Balance Sheet  As of December 31, 2015 ( in thousands )  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Assets  Cash and cash equivalents $ 22,002 $ 7,285 $ — $ — $ 29,287  Accounts receivable 1,239 15,819 — — 17,058  Investment in subsidiaries 777,898 — — (777,898) —  Inventories — 810,137 — — 810,137  Prepaid expenses and other assets 3,727 23,008 — — 26,735  Property and equipment, net 857 7,518 — — 8,375  Amortizable intangible assets, net — 4,784 — — 4,784  Goodwill — 21,365 — — 21,365  Total assets $ 805,723 $ 889,916 $ — $ (777,898) $ 917,741  Liabilities and stockholders’ equity  Liabilities:  Accounts payable $ — $ 10,967 $ — $ — $ 10,967  Accrued expenses and other liabilities 9,154 97,623 — — 106,777  Deferred tax liability, net 275 — — — 275  Notes payable and revolving line of credit 386,815 3,428 — — 390,243  Total liabilities 396,244 112,018 — — 508,262  Stockholders’ equity: 409,479 777,898 — (777,898) 409,479  Total liabilities and stockholders’ equity $ 805,723 $ 889,916 $ — $ (777,898) $ 917,741      Supplemental Condensed Consolidated Statement of Operations  For the Three Months Ended March 31, 2016 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Revenue  Home sales revenues $ — $ 181,081 $ — $ — $ 181,081  Land sales revenues — 1,970 — — 1,970  Golf course and other revenue — 1,045 — — 1,045  Total revenue — 184,096 — — 184,096  Costs and expenses  Cost of homes sales revenues — 144,353 — — 144,353  Cost of land sales revenues — 1,826 — — 1,826  Cost of golf course and other revenue — 716 — — 716  Selling, general and administrative 5,392 19,793 — — 25,185  Total operating costs and expenses 5,392 166,688 — — 172,080  Operating income (loss) (5,392) 17,408 — — 12,016  Other income (expense)  Equity in earnings from consolidated subsidiaries 11,689 — — (11,689) —  Interest income 7 33 — — 40  Interest expense — (2) — — (2)  Acquisition expense (169) — — — (169)  Other income — 324 — — 324  Loss on disposition of assets — 220 — — 220  Income before income tax expense 6,135 17,983 — (11,689) 12,429  Income tax expense (1,848) 6,294 — — 4,446  Net income $ 7,983 $ 11,689 $ — $ (11,689) $ 7,983         Supplemental Condensed Consolidated Statement of Operations  For the Three Months Ended March 31, 2015 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS   Revenue  Home sales revenues $ — $ 154,335 $ — $ — $ 154,335  Golf course and other revenue — 2,103 — — 2,103  Total revenue — 156,438 — — 156,438  Cost of home sale revenues  Cost of homes sales revenues — 124,806 — — 124,806  Cost of golf course and other revenue — 1,506 — — 1,506  Selling, general and administrative 4,884 16,048 — — 20,932  Total operating costs and expenses 4,884 142,360 — — 147,244  Operating income (4,884) 14,078 — — 9,194  Other income (expense)  Equity in earnings from consolidated subsidiaries 9,356 — — (9,356) —  Interest income 14 2 — — 16  Interest expense — (3) — — (3)  Acquisition expense — — — — —  Other income — 317 — — 317  Income before income tax expense 4,486 14,394 — (9,356) 9,524  Income tax expense (1,865) 5,038 — — 3,173  Net income $ 6,351 $ 9,356 $ — $ (9,356) $ 6,351       Supplemental Condensed Consolidated Statement of Cash Flows  For the Three Months Ended March 31, 2016 ( in thousands )  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Net cash provided by/(used in) operating activities $ 2,837 $ (40,401) $ — $ — $ (37,564)  Net cash used in investing activities $ (39,206) $ (1,915) $ — $ 38,997 $ (2,124)  Financing activities  Borrowings under revolving credit facilities $ 50,000 $ — $ — $ — $ 50,000  Payments on revolving credit facilities (25,000) — — — (25,000)  Principal payments from notes payable — (515) — — (515)  Repurchases of common stock under our stock repurchase program (2,393) — — — (2,393)  Repurchases of common stock upon vesting of restricted stock awards (254) — — — (254)  Payments from (and advances to) parent/subsidiary — 38,997 — (38,997) —  Net cash provided by financing activities $ 22,353 $ 38,482 $ — $ (38,997) $ 21,838  Net decrease in cash and cash equivalents $ (14,016) $ (3,834) $ — $ — $ (17,850)  Cash and cash equivalents  Beginning of period $ 22,002 $ 7,285 $ — $ $ 29,287  End of period $ 7,986 $ 3,451 $ — $ — $ 11,437         Supplemental Condensed Consolidated Statement of Cash Flows  For the Three Months Ended March 31, 2015 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS   Net cash used in operating activities $ (1,270) $ (36,503) $ — $ — $ (37,773)  Net cash used in investing activities $ (41,677) $ (1,069) $ — $ 41,531 $ (1,215)  Financing activities  Borrowings under revolving credit facilities $ 35,000 $ — $ — $ — $ 35,000  Principal payments on notes payable — (2,442) — — (2,442)  Debt issuance costs (385) — — — (385)  Payments from (and advances to) parent/subsidiary — 41,531 — (41,531) —  Net cash provided by financing activities $ 34,615 $ 39,089 $ — $ (41,531) $ 32,173  Net increase (decrease) in cash and cash equivalents $ (8,332) $ 1,517 $ — $ — $ (6,815)  Cash and cash equivalents  Beginning of period 22,710 10,752 — — 33,462  End of period $ 14,378 $ 12,269 $ — $ — $ 26,647       

Basis of Presentation (Policy)

Basis of Presentation (Policy)	3 Months Ended
	Mar. 31, 2016
Basis of Presentation [Abstract]
Basis of Presentation	Basis of Presentation Century Communities, Inc. (which we refer to as “we,” “CCS” or the “Company”) is engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in metropolitan areas in Colorado, Austin and San Antonio, Texas (which we refer to as “Central Texas”), Houston, Texas, Las Vegas, Nevada, and Atlanta, Georgia. Our homebuilding operations are organized into the following five operating segments based on the geographic markets in which we operate: Atlanta, Central Texas, Colorado, Houston and Nevada. In many of our projects, in addition to building homes, we are responsible for the entitlement and development of the underlying land. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (which we refer to as “GAAP”) for interim financial statements and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (which we refer to as the “SEC”). In the o pinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation of its financial position and results of operations. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year. The financial statements and related notes do not include all information and footnotes required by GAAP and should be read in conjunction with the consolidated financial statements for the year ended December 31, 2015, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 that was filed with the SEC on February 19, 2016.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company, as well as all subsidiaries in which we have a controlling interest, and variable interest entities for which the Company is deemed to be the primary beneficiary. All intercompany accounts and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results could differ from those estimates.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In August 2015, the Financial Accounting Standards Board (which we refer to as “FASB”) issued ASU 2015-14, “Revenue from Contracts with Customers (Topic 606).” ASU 2015-14 defers the effective date of ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” for public entities by one year to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted as of annual reporting periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-14 will have on our consolidated financial statements. We do not intend to adopt ASU 2015-14 early. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” ASU 2016-02 requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. ASU 2016-02 is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods. We are currently evaluating the impact ASU 2016-02 will have on our consolidated financial statements.  In March 2016, the FASB issued ASU 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted in any interim or annual period. We are currently evaluating the impact ASU 2016-09 will have on our consolidated financial statements.

Reporting Segments (Tables)

Reporting Segments (Tables)	3 Months Ended
	Mar. 31, 2016
Reporting Segments [Abstract]
Schedule Of Home Sale Revenues And Pretax Income By Segment	  Three Months Ended  March 31,  2016 2015   Revenue:  Atlanta $ 64,522 $ 56,640  Central Texas 29,124 17,036  Colorado 68,846 55,819  Houston 7,475 10,405  Nevada 14,129 16,538  Total revenue $ 184,096 $ 156,438   Income before income tax expense:  Atlanta $ 5,250 $ 3,213  Central Texas 2,176 2,161  Colorado 10,843 7,895  Houston (794) (415)  Nevada 867 1,817  Corporate (5,913) (5,147)  Total income before income tax expense $ 12,429 $ 9,524 
Schedule Of Total Assets By Segment	   March 31, December 31,  2016 2015  Atlanta $ 216,729 $ 185,331  Central Texas 121,748 117,037  Colorado 320,822 313,653  Houston 48,513 51,534  Nevada 236,330 220,209  Corporate 13,479 29,977  Total assets $ 957,621 $ 917,741 

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventories [Abstract]
Schedule Of Inventories	   March 31, December 31,  2016 2015  Homes under construction $ 469,355 $ 374,274  Land and land development 373,156 414,330  Capitalized interest 24,846 21,533  Total inventories $ 867,357 $ 810,137 

Prepaid Expenses and Other As24

Prepaid Expenses and Other Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Prepaid Expenses and Other Assets [Abstract]
Schedule Of Prepaid Expenses And Other Assets	   March 31, December 31,  2016 2015  Prepaid insurance $ 4,827 $ 5,696  Lot option and escrow deposits 4,991 4,634  Performance deposits 1,412 1,404  Deferred financing costs, net 2,137 2,318  Restricted cash 1,200 360  Secured note receivable 2,923 2,947  Assets held for sale 5,839 5,797  Other 2,818 3,579  Total prepaid expenses and other assets $ 26,147 $ 26,735 

Accrued Expenses and Other Li25

Accrued Expenses and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Accrued Expenses and Other Liabilities [Abstract]
Schedule Of Accrued Expenses And Other Liabilities	   March 31, December 31,  2016 2015  Earnest money deposits $ 8,424 $ 6,717  Warranty reserve 2,542 2,622  Accrued compensation costs 3,773 8,114  Land development and home construction accruals 84,121 83,322  Accrued interest 7,267 2,651  Income taxes payable 2,863 374  Liabilities related to assets held for sale 298 223  Other 2,804 2,754  Total accrued expenses and other liabilities $ 112,092 $ 106,777 

Warranty Reserve (Tables)

Warranty Reserve (Tables)	3 Months Ended
	Mar. 31, 2016
Warranty Reserve [Abstract]
Schedule Of Changes In Warranty Accrual	  Three Months Ended  March 31,  2016 2015  Beginning balance $ 2,622 $ 2,194  Warranty expense provisions 570 575  Payments (265) (242)  Warranty adjustment (385) —  Ending balance $ 2,542 $ 2,527 

Notes Payable and Revolving L27

Notes Payable and Revolving Line of Credit (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Payable and Revolving Line of Credit [Abstract]
Schedule Of Notes Payable And Revolving Loan Agreement	   March 31, December 31,  2016 2015  6.875% senior notes $ 252,139 $ 251,815  Revolving line of credit 160,000 135,000  Land development notes 2,369 2,677  Insurance premium notes 543 751  Total notes payable and revolving line of credit $ 415,051 $ 390,243 

Interest (Tables)

Interest (Tables)	3 Months Ended
	Mar. 31, 2016
Interest [Abstract]
Schedule Of Capitalized Interest Costs	  Three Months Ended  March 31,  2016 2015  Interest capitalized beginning of period $ 21,533 $ 11,302  Interest capitalized during period 6,380 3,919  Less: capitalized interest in cost of sales (3,067) (1,621)  Interest capitalized end of period $ 24,846 $ 13,600 

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule Of Carrying Values And Estimated Fair Values Of Financial Instruments	   March 31, 2016 December 31, 2015  Hierarchy Carrying Fair Value Carrying Fair Value  Secured note receivable (1) Level 2 $ 2,923 $ 2,962 $ 2,947 $ 2,926   6.875% Senior Notes (2) Level 2 $ 252,139 $ 242,492 $ 251,815 $ 232,503  Revolving Credit Facility (3) Level 2 160,000 160,000 135,000 135,000  Land development notes (4) Level 2 2,369 2,437 2,677 2,672  Insurance premium notes (3) Level 2 543 543 751 751  Total notes payable and revolving line of credit $ 415,051 $ 405,472 $ 390,243 $ 370,926 (1) Th e estimated fair value of the secured note received in connection with the disposition of the golf course in our Tuscany community in our Nevada operating segment as of March 31, 2016 was based on a cash flow model discounted at market interest rates that considered the underlying risks of the not e. (2) Estimated fair value of the S enior N otes at March 31, 2016 and December 31, 2015 incorporated recent trading activity in inactive markets. (3) Carrying amount approximates fair value due to short-term nature and interest rate terms. (4) The estimated fair values of the land development notes at March 31, 2016 and December 31, 201 5 were based on cash flow models discounted at market interest rates that considered underlying risks of the debt.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Stock Issued or Granted During Period, Share-based Compensation [Abstract]
Summary Of Outstanding Restricted Stock Awards And Units	  As of  March 31, 2016  Restricted Common Stock Restricted Stock Units  Unvested shares/units 517 492  Unrecognized compensation cost $6,805 $6,648  Period to recognize compensation cost 1.6 years 2.9 years 

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule Of Earnings Per Share, Basic And Diluted	  Three Months Ended  March 31,  2016 2015  Numerator  Net income $ 7,983 $ 6,351  Less: Undistributed earnings allocated to participating securities (232) (185)  Net income allocable to common stockholders $ 7,751 $ 6,166  Denominator  Weighted average common shares outstanding - basic 20,626,451 20,509,679  Dilutive effect of restricted stock units 18,796 —  Weighted average common shares outstanding - diluted 20,645,247 20,509,679  Earnings per share:  Basic and diluted $ 0.38 $ 0.30 

Supplemental Guarantor Inform32

Supplemental Guarantor Information (Tables)	3 Months Ended
	Mar. 31, 2016
Supplemental Guarantor Information [Abstract]
Supplemental Condensed Consolidated Balance Sheet	 Supplemental Condensed Consolidated Balance Sheet  As of March 31, 2016 ( in thousands )  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Assets  Cash and cash equivalents $ 7,986 $ 3,451 $ — $ — $ 11,437  Accounts receivable 3 17,189 — — 17,192  Investment in subsidiaries 829,122 — — (829,122) —  Inventories — 867,357 — — 867,357  Prepaid expenses and other assets 3,170 22,977 — — 26,147  Property and equipment, net 1,003 8,980 — — 9,983  Amortizable intangible assets, net — 4,140 — — 4,140  Goodwill — 21,365 — — 21,365  Total assets $ 841,284 $ 945,459 $ — $ (829,122) $ 957,621  Liabilities and stockholders’ equity  Liabilities:  Accounts payable $ — $ 13,538 $ — $ — $ 13,538  Accrued expenses and other liabilities 12,206 99,886 — — 112,092  Deferred tax liability, net 411 — — — 411  Notes payable and revolving line of credit 412,138 2,913 — — 415,051  Total liabilities 424,755 116,337 — — 541,092  Stockholders’ equity: 416,529 829,122 — (829,122) 416,529  Total liabilities and stockholders’ equity $ 841,284 $ 945,459 $ — $ (829,122) $ 957,621      Supplemental Condensed Consolidated Balance Sheet  As of December 31, 2015 ( in thousands )  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Assets  Cash and cash equivalents $ 22,002 $ 7,285 $ — $ — $ 29,287  Accounts receivable 1,239 15,819 — — 17,058  Investment in subsidiaries 777,898 — — (777,898) —  Inventories — 810,137 — — 810,137  Prepaid expenses and other assets 3,727 23,008 — — 26,735  Property and equipment, net 857 7,518 — — 8,375  Amortizable intangible assets, net — 4,784 — — 4,784  Goodwill — 21,365 — — 21,365  Total assets $ 805,723 $ 889,916 $ — $ (777,898) $ 917,741  Liabilities and stockholders’ equity  Liabilities:  Accounts payable $ — $ 10,967 $ — $ — $ 10,967  Accrued expenses and other liabilities 9,154 97,623 — — 106,777  Deferred tax liability, net 275 — — — 275  Notes payable and revolving line of credit 386,815 3,428 — — 390,243  Total liabilities 396,244 112,018 — — 508,262  Stockholders’ equity: 409,479 777,898 — (777,898) 409,479  Total liabilities and stockholders’ equity $ 805,723 $ 889,916 $ — $ (777,898) $ 917,741 
Supplemental Condensed Consolidated Statement Of Operations	 Supplemental Condensed Consolidated Statement of Operations  For the Three Months Ended March 31, 2016 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Revenue  Home sales revenues $ — $ 181,081 $ — $ — $ 181,081  Land sales revenues — 1,970 — — 1,970  Golf course and other revenue — 1,045 — — 1,045  Total revenue — 184,096 — — 184,096  Costs and expenses  Cost of homes sales revenues — 144,353 — — 144,353  Cost of land sales revenues — 1,826 — — 1,826  Cost of golf course and other revenue — 716 — — 716  Selling, general and administrative 5,392 19,793 — — 25,185  Total operating costs and expenses 5,392 166,688 — — 172,080  Operating income (loss) (5,392) 17,408 — — 12,016  Other income (expense)  Equity in earnings from consolidated subsidiaries 11,689 — — (11,689) —  Interest income 7 33 — — 40  Interest expense — (2) — — (2)  Acquisition expense (169) — — — (169)  Other income — 324 — — 324  Loss on disposition of assets — 220 — — 220  Income before income tax expense 6,135 17,983 — (11,689) 12,429  Income tax expense (1,848) 6,294 — — 4,446  Net income $ 7,983 $ 11,689 $ — $ (11,689) $ 7,983         Supplemental Condensed Consolidated Statement of Operations  For the Three Months Ended March 31, 2015 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS   Revenue  Home sales revenues $ — $ 154,335 $ — $ — $ 154,335  Golf course and other revenue — 2,103 — — 2,103  Total revenue — 156,438 — — 156,438  Cost of home sale revenues  Cost of homes sales revenues — 124,806 — — 124,806  Cost of golf course and other revenue — 1,506 — — 1,506  Selling, general and administrative 4,884 16,048 — — 20,932  Total operating costs and expenses 4,884 142,360 — — 147,244  Operating income (4,884) 14,078 — — 9,194  Other income (expense)  Equity in earnings from consolidated subsidiaries 9,356 — — (9,356) —  Interest income 14 2 — — 16  Interest expense — (3) — — (3)  Acquisition expense — — — — —  Other income — 317 — — 317  Income before income tax expense 4,486 14,394 — (9,356) 9,524  Income tax expense (1,865) 5,038 — — 3,173  Net income $ 6,351 $ 9,356 $ — $ (9,356) $ 6,351 
Supplemental Condensed Consolidated Statement Of Cash Flows	 Supplemental Condensed Consolidated Statement of Cash Flows  For the Three Months Ended March 31, 2016 ( in thousands )  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Net cash provided by/(used in) operating activities $ 2,837 $ (40,401) $ — $ — $ (37,564)  Net cash used in investing activities $ (39,206) $ (1,915) $ — $ 38,997 $ (2,124)  Financing activities  Borrowings under revolving credit facilities $ 50,000 $ — $ — $ — $ 50,000  Payments on revolving credit facilities (25,000) — — — (25,000)  Principal payments from notes payable — (515) — — (515)  Repurchases of common stock under our stock repurchase program (2,393) — — — (2,393)  Repurchases of common stock upon vesting of restricted stock awards (254) — — — (254)  Payments from (and advances to) parent/subsidiary — 38,997 — (38,997) —  Net cash provided by financing activities $ 22,353 $ 38,482 $ — $ (38,997) $ 21,838  Net decrease in cash and cash equivalents $ (14,016) $ (3,834) $ — $ — $ (17,850)  Cash and cash equivalents  Beginning of period $ 22,002 $ 7,285 $ — $ $ 29,287  End of period $ 7,986 $ 3,451 $ — $ — $ 11,437         Supplemental Condensed Consolidated Statement of Cash Flows  For the Three Months Ended March 31, 2015 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS   Net cash used in operating activities $ (1,270) $ (36,503) $ — $ — $ (37,773)  Net cash used in investing activities $ (41,677) $ (1,069) $ — $ 41,531 $ (1,215)  Financing activities  Borrowings under revolving credit facilities $ 35,000 $ — $ — $ — $ 35,000  Principal payments on notes payable — (2,442) — — (2,442)  Debt issuance costs (385) — — — (385)  Payments from (and advances to) parent/subsidiary — 41,531 — (41,531) —  Net cash provided by financing activities $ 34,615 $ 39,089 $ — $ (41,531) $ 32,173  Net increase (decrease) in cash and cash equivalents $ (8,332) $ 1,517 $ — $ — $ (6,815)  Cash and cash equivalents  Beginning of period 22,710 10,752 — — 33,462  End of period $ 14,378 $ 12,269 $ — $ — $ 26,647 

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details)	3 Months Ended
	Mar. 31, 2016segment
Basis of Presentation [Abstract]
Number of geographic operating segments	5

Reporting Segments (Schedule Of

Reporting Segments (Schedule Of Segment Reporting Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total revenue	$ 184,096	$ 156,438
Total income before tax expense	12,429	9,524
Total assets	957,621		$ 917,741
Atlanta [Member]
Segment Reporting Information [Line Items]
Total revenue	64,522	56,640
Total income before tax expense	5,250	3,213
Total assets	216,729		185,331
Central Texas [Member]
Segment Reporting Information [Line Items]
Total revenue	29,124	17,036
Total income before tax expense	2,176	2,161
Total assets	121,748		117,037
Colorado [Member]
Segment Reporting Information [Line Items]
Total revenue	68,846	55,819
Total income before tax expense	10,843	7,895
Total assets	320,822		313,653
Houston [Member]
Segment Reporting Information [Line Items]
Total revenue	7,475	10,405
Total income before tax expense	(794)	(415)
Total assets	48,513		51,534
Nevada [Member]
Segment Reporting Information [Line Items]
Total revenue	14,129	16,538
Total income before tax expense	867	1,817
Total assets	236,330		220,209
Corporate [Member]
Segment Reporting Information [Line Items]
Total income before tax expense	(5,913)	$ (5,147)
Total assets	$ 13,479		$ 29,977

Inventories (Schedule Of Invent

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Inventories [Abstract]
Homes under construction	$ 469,355	$ 374,274
Land and land development	373,156	414,330
Capitalized interest	24,846	21,533	$ 13,600	$ 11,302
Total inventories	$ 867,357	$ 810,137

Prepaid Expenses and Other As36

Prepaid Expenses and Other Assets (Schedule Of Prepaid Expenses And Other Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Prepaid Expenses and Other Assets [Abstract]
Prepaid insurance	$ 4,827	$ 5,696
Lot option and escrow deposits	4,991	4,634
Performance deposits	1,412	1,404
Deferred financing costs, net	2,137	2,318
Restricted cash	1,200	360
Secured note receivable	2,923	2,947
Assets held for sale	5,839	5,797
Other	2,818	3,579
Total prepaid expenses and other assets	$ 26,147	$ 26,735

Accrued Expenses and Other Li37

Accrued Expenses and Other Liabilities (Schedule Of Accrued Expenses And Other Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Accrued Expenses and Other Liabilities [Abstract]
Earnest money deposits	$ 8,424	$ 6,717
Warranty reserve	2,542	2,622	$ 2,527	$ 2,194
Accrued compensation costs	3,773	8,114
Land development and home construction accruals	84,121	83,322
Accrued interest	7,267	2,651
Income taxes payable	2,863	374
Liabilities related to assets held for sale	298	223
Other	2,804	2,754
Total accrued expenses and other liabilities	$ 112,092	$ 106,777

Warranty Reserve (Schedule Of C

Warranty Reserve (Schedule Of Changes In Warranty Accrual) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Warranty Reserve [Abstract]
Beginning balance	$ 2,622	$ 2,194
Warranty expense provisions	570	575
Payments	(265)	(242)
Warranty adjustment	(385)
Ending balance	$ 2,542	$ 2,527

Notes Payable and Revolving L39

Notes Payable and Revolving Line of Credit (Narrative) (Details)	Jul. 31, 2015USD ($)	Jul. 30, 2015USD ($)	Oct. 21, 2014USD ($)	Oct. 31, 2015USD ($)	Apr. 30, 2015USD ($)	Feb. 28, 2015USD ($)	May. 31, 2014USD ($)	Mar. 31, 2016USD ($)loan	Dec. 31, 2015USD ($)	Dec. 22, 2015USD ($)	Dec. 21, 2015USD ($)
Debt Instrument [Line Items]
Line of credit facility, outstanding amount								$ 160,000,000	$ 135,000,000
Land Development Notes And Insurance Premium Notes [Member]
Debt Instrument [Line Items]
Notes, outstanding								$ 2,900,000	$ 3,400,000
Land Development Notes And Insurance Premium Notes [Member] | Minimum
Debt Instrument [Line Items]
Interest rate								0.50%
Land Development Notes And Insurance Premium Notes [Member] | Maximum
Debt Instrument [Line Items]
Interest rate								5.00%
Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate								6.875%
Maturity date								2022-05
Initial Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount							$ 200,000,000
Net proceeds from issuance of senior debt							$ 193,300,000
Interest rate							6.875%
Discount rate							99.239%
Maturity year							2,022
Initial Exchange Notes [Member]
Debt Instrument [Line Items]
Principal amount						$ 200,000,000
Interest rate						6.875%
Maturity year						2,022
Additional Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount					$ 60,000,000
Net proceeds from issuance of senior debt					$ 58,500,000
Interest rate					6.875%
Discount rate					98.26%
Maturity year					2,022
Additional Exchange Notes [Member]
Debt Instrument [Line Items]
Principal amount				$ 60,000,000
Interest rate				6.875%
Maturity year				2,022
Land Development Notes [Member]
Debt Instrument [Line Items]
Number of notes payable | loan								3
Land Development Notes [Member] | Note Payable One [Member]
Debt Instrument [Line Items]
Maturity date								2016-05
Land Development Notes [Member] | Note Payable Two [Member]
Debt Instrument [Line Items]
Maturity date								2017-12
Insurance Premium Note [Member]
Debt Instrument [Line Items]
Number of notes payable | loan								1
Maturity date								2017-03
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility. maximum borrowing capacity			$ 80,000,000
Letter of credit sublimit			20,000,000
Covenant description								The Credit Agreement also requires us to maintain (i) a leverage ratio of not more than 1.50 to 1.0 as of the last day of any fiscal quarter, based upon our and our subsidiaries' (on a consolidated basis) ratio of debt to tangible net worth, (ii) an interest coverage ratio of not less than 1.50 to 1.0 for any four fiscal quarter period, based upon our and our subsidiaries' (on a consolidated basis) ratio of EBITDA to cash interest expense, (iii) a consolidated tangible net worth of not less than the sum of $250 million, plus 50% of the net proceeds of any issuances of equity interests by us and the guarantors of the Revolving Credit Facility, plus 50% of the amount of our and our subsidiaries' consolidated net income, (iv) liquidity of not less than $25 million, and (v) a risk asset ratio of not more than 1.25 to 1.0, based upon the ratio of the book value of all risk assets owned by us and our subsidiaries to our tangible net worth.  As of March 31, 2016, we were in compliance with all covenants under the Credit Agreement.
Commitment fee percentage								0.20%
Consolidated tangible net worth								$ 250,000,000
Percentage of proceeds from equity issuance								50.00%
Percentage of subsidiaries' consolidated net income								50.00%
Liquidity value								$ 25,000,000
Revolving Credit Facility [Member] | Texas Capital Bank [Member]
Debt Instrument [Line Items]
Maturity date		Oct. 21, 2017
Line of credit facility. maximum borrowing capacity		$ 120,000,000	$ 120,000,000
Revolving Credit Facility [Member] | Minimum
Debt Instrument [Line Items]
Leverage ratio								1
Interest coverage ratio								1
Risk asset ratio								1
Revolving Credit Facility [Member] | Maximum
Debt Instrument [Line Items]
Leverage ratio								1.50
Interest coverage ratio								1.50
Risk asset ratio								1.25
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate								2.75%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate								3.25%
Revolving Credit Facility [Member] | Base Rate [Member] | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate								1.75%
Revolving Credit Facility [Member] | Base Rate [Member] | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate								2.25%
Revolving Credit Facility [Member] | First Modification Agreement [Member] | Texas Capital Bank [Member]
Debt Instrument [Line Items]
Line of credit facility. maximum borrowing capacity	$ 200,000,000										$ 200,000,000
Revolving Credit Facility [Member] | First Modification Agreement [Member] | Texas Capital Bank [Member] | Extended Maturity [Member]
Debt Instrument [Line Items]
Maturity date	Oct. 21, 2018
Revolving Credit Facility [Member] | First Modification Agreement [Member] | Bank of America [Member]
Debt Instrument [Line Items]
Uncommitted option to increase credit facility	$ 100,000,000	$ 80,000,000
Revolving Credit Facility [Member] | Second Modification Agreement [Member] | Texas Capital Bank [Member]
Debt Instrument [Line Items]
Line of credit facility. maximum borrowing capacity										$ 300,000,000

Notes Payable and Revolving L40

Notes Payable and Revolving Line of Credit (Schedule Of Notes Payable And Revolving Line Of Credit) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Notes Payable and Revolving Line of Credit [Abstract]
6.875% senior notes	$ 252,139	$ 251,815
Revolving line of credit	160,000	135,000
Land development notes	2,369	2,677
Insurance premium notes	543	751
Total notes payable and revolving line of credit	$ 415,051	$ 390,243

Interest (Schedule Of Capitaliz

Interest (Schedule Of Capitalized Interest Costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest [Abstract]
Interest capitalized beginning of period	$ 21,533	$ 11,302
Interest capitalized during period	6,380	3,919
Less: capitalized interest in cost of sales	(3,067)	(1,621)
Interest capitalized end of period	$ 24,846	$ 13,600

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Taxes [Abstract]
Income tax expense	$ 4,446	$ 3,173
Effective tax rate	34.50%
Blended federal and state effective tax rate	37.20%

Fair Value Disclosures (Schedul

Fair Value Disclosures (Schedule Of Carrying Values And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total notes payable and revolving line of credit		$ 415,051	$ 390,243
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total notes payable and revolving line of credit		405,472	370,926
Level 2 [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured note receivable	[1]	2,923	2,947
6.875% Senior Notes	[2]	252,139	251,815
Revolving Credit Facility	[3]	160,000	135,000
Land development notes	[4]	2,369	2,677
Insurance premium notes	[3]	543	751
Level 2 [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured note receivable	[1]	2,962	2,926
6.875% Senior Notes	[2]	242,492	232,503
Revolving Credit Facility	[3]	160,000	135,000
Land development notes	[4]	2,437	2,672
Insurance premium notes	[3]	$ 543	$ 751
[1]	The estimated fair value of the secured note received in connection with the disposition of the golf course in our Tuscany community in our Nevada operating segment as of March 31, 2016 was based on a cash flow model discounted at market interest rates that considered the underlying risks of the note.
[2]	Estimated fair value of the Senior Notes at March 31, 2016 and December 31, 2015 incorporated recent trading activity in inactive markets.
[3]	Carrying amount approximates fair value due to short-term nature and interest rate terms.
[4]	The estimated fair values of the land development notes at March 31, 2016 and December 31, 2015 were based on cash flow models discounted at market interest rates that considered underlying risks of the debt.

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares authorized	100,000,000		100,000,000
Common stock, par value	$ 0.01		$ 0.01
Preferred stock shares authorized	50,000,000		50,000,000
Preferred stock, par value	$ 0.01		$ 0.01
Common stock shares issued, excluding restricted common shares	20,600,000		20,600,000
Common stock shares outstanding, excluding restricted common shares	20,600,000		20,600,000
Common stock shares repurchased	200,000
Weighted average price per share	$ 15.03
Common stock shares for stock award issuances	1,800,000
Common stock shares for stock award, available for issuance	600,000
Compensation expense	$ 1.7	$ 1.1
Restricted Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares repurchased	200,000
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted	500,000
Weighted average grant date fair value	$ 14.17
Awards vesting period	3 years

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary Of Outstanding Restricted Stock Awards And Units) (Details) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)shares
Restricted Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested awards/units | shares	517
Unrecognized compensation cost | $	$ 6,805
Period to recognize compensation cost	1 year 7 months 6 days
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested awards/units | shares	492
Unrecognized compensation cost | $	$ 6,648
Period to recognize compensation cost	2 years 10 months 24 days

Earnings Per Share (Schedule Of

Earnings Per Share (Schedule Of Earnings Per Share, Basic And Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Numerator
Net income	$ 7,983	$ 6,351
Less: Undistributed earnings allocated to participating securities	(232)	(185)
Net income allocable to common stockholders	$ 7,751	$ 6,166
Denominator
Weighted average common shares outstanding - basic	20,626,451	20,509,679
Dilutive effect of restricted stock units	18,796
Weighted average common shares outstanding - diluted	20,645,247	20,509,679
Earnings per share:
Basic and diluted	$ 0.38	$ 0.30

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Commitments and Contingencies [Abstract]
Outstanding letters of credit and performance bonds	$ 63.7	$ 63.6

Disposition of Golf Courses (Na

Disposition of Golf Courses (Narrative) (Details) - USD ($) $ in Thousands	May. 26, 2015	Mar. 31, 2016	May. 19, 2015
Tuscany Golf Course [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total consideration amount	$ 4,000
Cash from total consideration amount	1,000
Secured note from total consideration amount	3,000
Gain on sale	2
Term of payments for principal and interest		monthly
Date of balloon payment		May 1, 2020
Balloon payment of secure note	$ 2,500
Tuscany Golf Course [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest rate		4.50%
Tuscany Golf Course [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest rate		5.50%
Rhodes Ranch Golf Course [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Put Option [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total consideration amount			$ 5,900
Expiration date of put option		Jun. 1, 2016

Supplemental Guarantor Inform49

Supplemental Guarantor Information (Narrative) (Details) - USD ($)	1 Months Ended
	Oct. 31, 2015	Apr. 30, 2015	Feb. 28, 2015	May. 31, 2014
Initial Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount				$ 200,000,000
Interest rate				6.875%
Maturity year				2,022
Initial Exchange Notes [Member]
Debt Instrument [Line Items]
Principal amount			$ 200,000,000
Interest rate			6.875%
Maturity year			2,022
Additional Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount		$ 60,000,000
Interest rate		6.875%
Maturity year		2,022
Additional Exchange Notes [Member]
Debt Instrument [Line Items]
Principal amount	$ 60,000,000
Interest rate	6.875%
Maturity year	2,022

Supplemental Guarantor Inform50

Supplemental Guarantor Information (Supplemental Condensed Consolidated Balance Sheet) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 11,437	$ 29,287	$ 26,647	$ 33,462
Accounts receivable	17,192	17,058
Inventories	867,357	810,137
Prepaid expenses and other assets	26,147	26,735
Property and equipment, net	9,983	8,375
Amortizable intangible assets, net	4,140	4,784
Goodwill	21,365	21,365
Total Assets	957,621	917,741
Liabilities:
Accounts payable	13,538	10,967
Accrued expenses and other liabilities	112,092	106,777
Deferred tax liability, net	411	275
Notes payable and revolving line of credit	415,051	390,243
Total liabilities	541,092	508,262
Total stockholders' equity	416,529	409,479
Total liabilities and stockholders' equity	957,621	917,741
CCS [Member]
Assets
Cash and cash equivalents	7,986	22,002	14,378	22,710
Accounts receivable	3	1,239
Investment in subsidiaries	829,122	777,898
Prepaid expenses and other assets	3,170	3,727
Property and equipment, net	1,003	857
Total Assets	841,284	805,723
Liabilities:
Accrued expenses and other liabilities	12,206	9,154
Deferred tax liability, net	411	275
Notes payable and revolving line of credit	412,138	386,815
Total liabilities	424,755	396,244
Total stockholders' equity	416,529	409,479
Total liabilities and stockholders' equity	841,284	805,723
Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents	3,451	7,285	$ 12,269	$ 10,752
Accounts receivable	17,189	15,819
Inventories	867,357	810,137
Prepaid expenses and other assets	22,977	23,008
Property and equipment, net	8,980	7,518
Amortizable intangible assets, net	4,140	4,784
Goodwill	21,365	21,365
Total Assets	945,459	889,916
Liabilities:
Accounts payable	13,538	10,967
Accrued expenses and other liabilities	99,886	97,623
Notes payable and revolving line of credit	2,913	3,428
Total liabilities	116,337	112,018
Total stockholders' equity	829,122	777,898
Total liabilities and stockholders' equity	945,459	889,916
Elimination Entries [Member]
Assets
Investment in subsidiaries	(829,122)	(777,898)
Total Assets	(829,122)	(777,898)
Liabilities:
Total stockholders' equity	(829,122)	(777,898)
Total liabilities and stockholders' equity	$ (829,122)	$ (777,898)

Supplemental Guarantor Inform51

Supplemental Guarantor Information (Supplemental Condensed Consolidated Statement Of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues
Home sales revenues	$ 181,081	$ 154,335
Land sales revenues	1,970
Golf course and other revenue	1,045	2,103
Total revenue	184,096	156,438
Cost of home sales revenues	144,353	124,806
Cost of land sales revenues	1,826
Cost of golf course and other revenue	716	1,506
Selling, general, and administrative	25,185	20,932
Total operating costs and expenses	172,080	147,244
Operating income (loss)	12,016	9,194
Other income (expense):
Interest income	40	16
Interest expense	(2)	(3)
Acquisition expense	(169)
Other income	324	317
Gain on disposition of assets	220
Income before income tax expense	12,429	9,524
Income tax expense (benefit)	4,446	3,173
Net income	7,983	6,351
CCS [Member]
Revenues
Selling, general, and administrative	5,392	4,884
Total operating costs and expenses	5,392	4,884
Operating income (loss)	(5,392)	(4,884)
Other income (expense):
Equity in earnings from consolidated subsidiaries	11,689	9,356
Interest income	7	14
Acquisition expense	(169)
Income before income tax expense	6,135	4,486
Income tax expense (benefit)	(1,848)	(1,865)
Net income	7,983	6,351
Guarantor Subsidiaries [Member]
Revenues
Home sales revenues	181,081	154,335
Land sales revenues	1,970
Golf course and other revenue	1,045	2,103
Total revenue	184,096	156,438
Cost of home sales revenues	144,353	124,806
Cost of land sales revenues	1,826
Cost of golf course and other revenue	716	1,506
Selling, general, and administrative	19,793	16,048
Total operating costs and expenses	166,688	142,360
Operating income (loss)	17,408	14,078
Other income (expense):
Interest income	33	2
Interest expense	(2)	(3)
Other income	324	317
Gain on disposition of assets	220
Income before income tax expense	17,983	14,394
Income tax expense (benefit)	6,294	5,038
Net income	11,689	9,356
Elimination Entries [Member]
Other income (expense):
Equity in earnings from consolidated subsidiaries	(11,689)	(9,356)
Income before income tax expense	(11,689)	(9,356)
Net income	$ (11,689)	$ (9,356)

Supplemental Guarantor Inform52

Supplemental Guarantor Information (Supplemental Condensed Consolidated Statement Of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by/(used in) operating activities	$ (37,564)	$ (37,773)
Net cash used in investing activities	(2,124)	(1,215)
Financing activities
Borrowings under revolving credit facilities	50,000	35,000
Payments on revolving credit facilities	(25,000)
Principal payments from notes payable	(515)	(2,442)
Debt issuance costs		(385)
Repurchases of common stock under our stock repurchase program	(2,393)
Repurchases of common stock upon vesting of restricted stock awards	(254)
Net cash provided by financing activities	21,838	32,173
Net increase (decrease) in cash and cash equivalents	(17,850)	(6,815)
Cash and cash equivalents, Beginning of period	29,287	33,462
Cash and cash equivalents, End of period	11,437	26,647
CCS [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by/(used in) operating activities	2,837	(1,270)
Net cash used in investing activities	(39,206)	(41,677)
Financing activities
Borrowings under revolving credit facilities	50,000	35,000
Payments on revolving credit facilities	(25,000)
Debt issuance costs		(385)
Repurchases of common stock under our stock repurchase program	(2,393)
Repurchases of common stock upon vesting of restricted stock awards	(254)
Net cash provided by financing activities	22,353	34,615
Net increase (decrease) in cash and cash equivalents	(14,016)	(8,332)
Cash and cash equivalents, Beginning of period	22,002	22,710
Cash and cash equivalents, End of period	7,986	14,378
Guarantor Subsidiaries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by/(used in) operating activities	(40,401)	(36,503)
Net cash used in investing activities	(1,915)	(1,069)
Financing activities
Principal payments from notes payable	(515)	(2,442)
Payments from (and advances to) parent/subsidiary	38,997	41,531
Net cash provided by financing activities	38,482	39,089
Net increase (decrease) in cash and cash equivalents	(3,834)	1,517
Cash and cash equivalents, Beginning of period	7,285	10,752
Cash and cash equivalents, End of period	3,451	12,269
Elimination Entries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash used in investing activities	38,997	41,531
Financing activities
Payments from (and advances to) parent/subsidiary	(38,997)	(41,531)
Net cash provided by financing activities	$ (38,997)	$ (41,531)