Century Communities (CCS) 10-Q 3 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 26, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 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	Q2
Current Fiscal Year End Date	--12-31
Trading Symbol	ccs
Entity Common Stock, Shares Outstanding		21,053,571

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 10,684	$ 29,287
Accounts receivable	29,290	17,058
Inventories	869,741	810,137
Prepaid expenses and other assets	25,085	26,735
Property and equipment, net	11,002	8,375
Deferred tax asset, net	279
Amortizable intangible assets, net	3,666	4,784
Goodwill	21,365	21,365
Total Assets	971,112	917,741
Liabilities:
Accounts payable	12,050	10,967
Accrued expenses and other liabilities	115,441	106,777
Deferred tax liability, net		275
Notes payable and revolving line of credit	412,851	390,243
Total liabilities	540,342	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, 21,059,230 and 21,303,702 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	211	213
Additional paid-in capital	341,121	340,953
Retained earnings	89,438	68,313
Total stockholders' equity	430,770	409,479
Total liabilities and stockholders' equity	$ 971,112	$ 917,741

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 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	21,059,230	21,303,702
Common stock shares outstanding	21,059,230	21,303,702

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues
Home sales revenues	$ 257,179	$ 186,808	$ 438,260	$ 341,143
Land sales revenues	1,288	370	3,258	370
Golf course and other revenue	1,175	1,876	2,220	3,979
Total revenue	259,642	189,054	443,738	345,492
Costs and expenses
Cost of home sales revenues	207,883	150,225	352,236	275,031
Cost of land sales revenues	587	365	2,413	365
Cost of golf course and other revenue	884	1,662	1,600	3,168
Selling, general, and administrative	31,383	22,812	56,568	43,744
Total operating costs and expenses	240,737	175,064	412,817	322,308
Operating income (loss)	18,905	13,990	30,921	23,184
Other income (expense):
Interest income	41	21	81	37
Interest expense	(2)	(3)	(4)	(6)
Acquisition expense	(244)	(15)	(413)	(15)
Other income	294	308	618	625
Gain on disposition of assets	103	130	323	130
Income before income tax expense	19,097	14,431	31,526	23,955
Income tax expense	5,955	4,633	10,401	7,806
Net income	$ 13,142	$ 9,798	$ 21,125	$ 16,149
Earnings per share:
Basic	$ 0.62	$ 0.46	$ 1	$ 0.76
Diluted	$ 0.62	$ 0.46	$ 1	$ 0.76
Weighted average common shares outstanding:
Basic	20,649,910	20,556,536	20,628,598	20,533,237
Diluted	20,747,312	20,556,536	20,686,697	20,533,237

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating activities
Net income	$ 21,125	$ 16,149
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	2,797	2,270
Stock-based compensation expense	3,463	2,491
Deferred income taxes	(554)	(1,558)
Gain on disposition of assets	(323)	(130)
Changes in assets and liabilities:
Accounts receivable	(12,232)	510
Inventories	(49,841)	(80,878)
Prepaid expenses and other assets	1,173	520
Accounts payable	1,083	(7,746)
Accrued expenses and other liabilities	(20)	(3,788)
Net cash used in operating activities	(33,329)	(72,160)
Investing activities
Purchases of property and equipment	(4,944)	(2,153)
Proceeds from sale of assets	961	1,148
Principal payments on notes receivable	48
Net cash used in investing activities	(3,935)	(1,005)
Financing activities
Borrowings under revolving credit facilities	90,000	75,000
Payments on revolving credit facilities	(65,000)	(55,000)
Proceeds from issuance of senior notes		58,956
Proceeds from issuances of insurance premium notes		448
Principal payments on notes payable	(3,042)	(4,570)
Debt issuance costs		(1,784)
Repurchases of common stock upon vesting of restricted stock awards	(904)	(717)
Repurchases of common stock under our stock repurchase program	(2,393)
Net cash provided by financing activities	18,661	72,333
Net increase (decrease) in cash and cash equivalents	(18,603)	(832)
Cash and cash equivalents, Beginning of period	29,287	33,462
Cash and cash equivalents, End of period	10,684	32,630
Non-cash investing and financing information
Note receivable from sale of Tuscany golf course		3,000
Supplemental cash flow disclosure
Cash paid for income taxes	$ 15,259	$ 9,273

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 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, Salt Lake City, Utah and Atlanta, Georgia. Our homebuilding operations are organized into the following six operating segments based on the geographic markets in which we operate: Atlanta, Central Texas, Colorado, Houston, Nevada, and Utah. 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)” and will be effective for the Company beginning on January 1, 2018, including interim reporting periods within that 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 early adopt ASU 2015-14. 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 the Company beginning January 1, 2019 and interim periods within the 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 the Company beginning January 1, 2017 and interim periods within the 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	6 Months Ended
	Jun. 30, 2016
Reporting Segments [Abstract]
Reporting Segments	2. Reporting Segments Our homebuilding operations are organized into the following six operating segments based on the geographic markets in which we operate: Atlanta, Central Texas, Colorado, Houston, Nevada, and Utah. 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 summarizes total revenue and income before income tax expense by operating segment (in thousands):     Three Months Ended Six Months Ended  June 30, June 30,  2016 2015 2016 2015   Revenue:  Atlanta $ 90,467 $ 70,260 $ 154,989 $ 126,900  Central Texas 23,925 16,537 53,049 33,573  Colorado 98,024 75,309 166,870 131,128  Houston 15,619 7,085 23,094 17,490  Nevada 31,607 19,863 45,736 36,401  Utah — — — —  Corporate — — — —  Total revenue $ 259,642 $ 189,054 $ 443,738 $ 345,492   Income before income tax expense:  Atlanta $ 8,729 $ 6,591 $ 13,979 $ 9,804  Central Texas 1,936 1,089 4,112 3,250  Colorado 12,946 9,624 23,789 17,519  Houston (892) (239) (1,686) (654)  Nevada 3,740 2,953 4,607 4,770  Utah (157) — (157) —  Corporate (7,205) (5,587) (13,118) (10,734)  Total income before income tax expense $ 19,097 $ 14,431 $ 31,526 $ 23,955  The following table summarizes total assets by operating segment (in thousands):    June 30, December 31,  2016 2015  Atlanta $ 229,777 $ 185,331  Central Texas 122,512 117,037  Colorado 313,197 313,653  Houston 34,812 51,534  Nevada 243,186 220,209  Utah 5,165 —  Corporate 22,463 29,977  Total assets $ 971,112 $ 917,741 Corporate assets include certain cash and cash equivalents, prepaid insurance, deferred financing costs, and certain property and equipment.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2016
Inventories [Abstract]
Inventories	 3. Inventories Inventories included the following (in thousands):     June 30, December 31,  2016 2015  Homes under construction $ 484,258 $ 374,274  Land and land development 358,906 414,330  Capitalized interest 26,577 21,533  Total inventories $ 869,741 $ 810,137

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	6 Months Ended
	Jun. 30, 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):      June 30, December 31,  2016 2015  Prepaid insurance $ 3,995 $ 5,696  Lot option and escrow deposits 4,346 4,634  Performance deposits 1,436 1,404  Deferred financing costs, net 1,925 2,318  Restricted cash 2,202 360  Secured note receivable 2,918 2,947  Assets held for sale 5,751 5,797  Other 2,512 3,579  Total prepaid expenses and other assets $ 25,085 $ 26,735

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 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):     June 30, December 31,  2016 2015  Earnest money deposits $ 9,758 $ 6,717  Warranty reserve 2,754 2,622  Accrued compensation costs 6,518 8,114  Land development and home construction accruals 90,051 83,322  Accrued interest 2,830 2,651  Income taxes payable 454 374  Liabilities related to assets held for sale 284 223  Other 2,792 2,754  Total accrued expenses and other liabilities $ 115,441 $ 106,777 

Warranty Reserve

Warranty Reserve	6 Months Ended
	Jun. 30, 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 $0.2 million and $0.6 million during the three and six months ended June 30, 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 Six Months Ended  June 30, June 30,  2016 2015 2016 2015  Beginning balance $ 2,542 $ 2,527 $ 2,622 $ 2,194  Warranty expense provisions 822 810 1,392 1,429  Payments (375) (309) (640) (595)  Warranty adjustment (235) (596) (620) (596)  Ending balance $ 2,754 $ 2,432 $ 2,754 $ 2,432

Notes Payable and Revolving Lin

Notes Payable and Revolving Line of Credit	6 Months Ended
	Jun. 30, 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):     June 30, December 31,  2016 2015  6.875% senior notes $ 252,441 $ 251,815  Revolving line of credit 160,000 135,000  Land development notes — 2,677  Insurance premium notes 410 751  Total notes payable and revolving line of credit $ 412,851 $ 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 provided 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 Revolving 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 London 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 June 30, 2016, we were in compliance with all covenants under the Credit Agreement. As of June 30, 2016, we had $160.0 million outstanding under the Credit Agreement. Other financing obligations As of June 30, 2016, the Company has one insurance premium note outstanding totaling $0.4 million which matures in March 2017 . This note bears interest at a rate of 3.89% . During the three months ended June 30, 2016 we repaid three outstanding land development notes totaling $2.4 million. As of June 30, 2016 and December 31, 2015, we had $0.4 million and $3.4 million, respectively, of outstanding land development notes and insurance premium notes.

Interest

Interest	6 Months Ended
	Jun. 30, 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 a nd six months ended June 30, 2016 and 2015 , 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 Six Months Ended  June 30, June 30,  2016 2015 2016 2015  Interest capitalized beginning of period $ 24,846 $ 13,600 $ 21,533 $ 11,302  Interest capitalized during period 6,649 4,971 13,029 8,890  Less: capitalized interest in cost of sales (4,918) (2,830) (7,985) (4,451)  Interest capitalized end of period $ 26,577 $ 15,741 $ 26,577 $ 15,741 

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 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. Our 2016 estimated annual effective tax rate is driven by our blended federal and state statutory rate of 37.3% , which is partially offset by estimated benefits of 3.3% from additional deductions for tax related to domestic production activities and estimated energy credits , resulting in an estimated annual effective tax rate of 34.0%.  For the three months ended June 30, 2016 and 2015 , we recorded income tax expense of $6.0 million and $4.6 million, respectively. For the six months ended June 30, 2016 and 2015, we recorded income tax expense of $10.4 million and $7.8 million, respectively. Our income tax expense for the three months ended June 30, 2016 is based on our estimated annual effective tax rate , a discrete item related to the vesting of restricted stock awards which increased income tax expense by $0.1 million and energy credits certified during the three months ended June 30, 2016 related to homes delivered in prior years which decreased our expense by $0.6 million. 

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures	10. Fair Value Disclosures Accounting 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):     June 30, 2016 December 31, 2015  Hierarchy Carrying Fair Value Carrying Fair Value  Secured note receivable (1) Level 2 $ 2,918 $ 2,958 $ 2,947 $ 2,926   6.875% senior notes (2) Level 2 $ 252,441 $ 246,611 $ 251,815 $ 232,503  Revolving line of credit (3) Level 2 160,000 160,000 135,000 135,000  Land development notes (4) Level 2 — — 2,677 2,672  Insurance premium notes (3) Level 2 410 410 751 751  Total notes payable and revolving line of credit $ 412,851 $ 407,021 $ 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 June 30, 2016 and December 31, 2015 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 Senior Notes at June 30, 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 value of the land development notes at December 31, 2015 was 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	6 Months Ended
	Jun. 30, 2016
Stock-Based Compensation [Abstract]
Stock-Based Compensation	11. 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 June 30 , 2016 and December 31, 2015 , there were 20.7 million and 20.6 million shares of common stock issued and outstanding, respectively, exclusive of the restricted common stock issued. During the six months ended June 30, 2016, we repurchased 0.2 million shares of our common stock at a weighted average price of $15.03 per share. We issued 0.1 million and 0.2 million shares of common stock related to the vesting of restricted stock awards during the three and six months ended June 30, 2016, respectively. 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 June 30, 2016, 0.6 million shares remain available for issuance. During the three months ended June 30, 2016, we granted 17.1 thousand shares of restricted stock units with a weighted average grant date fair value of $17.50 per share. During the six months ended June 30, 2016 , we granted 0.5 million shares of restricted stock units with a weighted average grant date fair value of $14.28 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  June 30, 2016  Restricted Stock Awards Restricted Stock Units  Unvested awards/units 388 506  Unrecognized compensation cost $5,469 $6,313  Period to recognize compensation cost 1.4 years 2.6 years During the three months ended June 30, 2016 and 2015 , we recognized stock-based compensation expense of $1.7 million and $ 1.4 million, respectively. During the six months ended June 30, 2016 and 2015, we recognized stock-based compensation expense of $3.5 million and $2.5 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	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	12. 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 and six months ended June 30, 201 6 and 201 5 (in thousands, except share and per share information):   Three Months Ended Six Months Ended  June 30, June 30,  2016 2015 2016 2015  Numerator  Net income $ 13,142 $ 9,798 $ 21,125 $ 16,149  Less: Undistributed earnings allocated to participating securities (280) (361) (530) (533)  Net income allocable to common stockholders $ 12,862 $ 9,437 $ 20,595 $ 15,616  Denominator  Weighted average common shares outstanding - basic 20,649,910 20,556,536 20,628,598 20,533,237  Dilutive effect of restricted stock units 97,402 — 58,099 —  Weighted average common shares outstanding - diluted 20,747,312 20,556,536 20,686,697 20,533,237  Earnings per share:  Basic $ 0.62 $ 0.46 $ 1.00 $ 0.76  Diluted $ 0.62 $ 0.46 $ 1.00 $ 0.76 

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	13. 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 June 30, 2016 and December 31, 2015 , we had $ 53.4 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	6 Months Ended
	Jun. 30, 2016
Disposition of Golf Courses [Abstract]
Disposition of Golf Courses	14. 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 . As the put option we exercised on the golf course in our Rhodes Ranch golf community was not responded to by the counterparty, during the second quarter of 2016 , we initiated a plan for the disposition of the golf course . W e believe the disposition is probable within one year and a ccordingly, the assets and liabilities have continued to be 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 June 30, 2016.

Supplemental Guarantor Informat

Supplemental Guarantor Information	6 Months Ended
	Jun. 30, 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 June 30, 2016 ( in thousands )  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Assets  Cash and cash equivalents $ 10,553 $ 131 $ — $ — $ 10,684  Accounts receivable 5,625 23,665 — — 29,290  Investment in subsidiaries 829,870 — — (829,870) —  Inventories — 869,741 — — 869,741  Prepaid expenses and other assets 3,272 21,813 — — 25,085  Property and equipment, net 940 10,062 — — 11,002  Deferred tax asset, net 279 — — — 279  Amortizable intangible assets, net — 3,666 — — 3,666  Goodwill — 21,365 — — 21,365  Total assets $ 850,539 $ 950,443 $ — $ (829,870) $ 971,112  Liabilities and stockholders’ equity  Liabilities:  Accounts payable $ 271 $ 11,779 $ — $ — $ 12,050  Accrued expenses and other liabilities 7,057 108,384 — — 115,441  Notes payable and revolving line of credit 412,441 410 — — 412,851  Total liabilities 419,769 120,573 — — 540,342  Stockholders’ equity: 430,770 829,870 — (829,870) 430,770  Total liabilities and stockholders’ equity $ 850,539 $ 950,443 $ — $ (829,870) $ 971,112      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 June 30, 2016 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Revenue  Home sales revenues $ — $ 257,179 $ — $ — $ 257,179  Land sales revenues — 1,288 — — 1,288  Golf course and other revenue — 1,175 — — 1,175  Total revenue — 259,642 — — 259,642  Costs and expenses  Cost of homes sales revenues — 207,883 — — 207,883  Cost of land sales revenues — 587 — — 587  Cost of golf course and other revenue — 884 — — 884  Selling, general and administrative 6,085 25,298 — — 31,383  Total operating costs and expenses 6,085 234,652 — — 240,737  Operating income (loss) (6,085) 24,990 — — 18,905  Other income (expense)  Equity in earnings from consolidated subsidiaries 16,522 — — (16,522) —  Interest income 9 32 — — 41  Interest expense (1) (1) — — (2)  Acquisition expense (244) — — — (244)  Other income — 294 — — 294  Loss on disposition of assets — 103 — — 103  Income before income tax expense 10,201 25,418 — (16,522) 19,097  Income tax expense (2,941) 8,896 — — 5,955  Net income $ 13,142 $ 16,522 $ — $ (16,522) $ 13,142           Supplemental Condensed Consolidated Statement of Operations  For the Three Months Ended June 30, 2015 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS   Revenue  Home sales revenues $ — $ 186,808 $ — $ — $ 186,808  Land sales revenue — 370 — — 370  Golf course and other revenue — 1,876 — — 1,876  Total revenue — 189,054 — — 189,054  Cost of home sale revenues  Cost of homes sales revenues — 150,225 — — 150,225  Cost of land sales revenues — 365 — — 365  Cost of golf course and other revenue — 1,662 — — 1,662  Selling, general and administrative 5,423 17,389 — — 22,812  Total operating costs and expenses 5,423 169,641 — — 175,064  Operating income (5,423) 19,413 — — 13,990  Other income (expense)  Equity in earnings from consolidated subsidiaries 12,905 — — (12,905) —  Interest income 15 6 — — 21  Interest expense — (3) — — (3)  Acquisition expense (15) — — — (15)  Other income — 308 — — 308  Gain on disposition of assets — 130 — — 130  Income before income tax expense 7,482 19,854 — (12,905) 14,431  Income tax expense (2,316) 6,949 — — 4,633  Net income $ 9,798 $ 12,905 $ — $ (12,905) $ 9,798    Supplemental Condensed Consolidated Statement of Operations  For the Six Months Ended June 30, 2016 ( in thousands )  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Revenue  Home sales revenues $ — $ 438,260 $ — $ — $ 438,260  Land sales revenues — 3,258 — — 3,258  Golf course and other revenue — 2,220 — — 2,220  Total revenue — 443,738 — — 443,738  Costs and expenses  Cost of homes sales revenues — 352,236 — — 352,236  Cost of land sales revenues — 2,413 — — 2,413  Cost of golf course and other revenue — 1,600 — — 1,600  Selling, general and administrative 11,478 45,090 — — 56,568  Total operating costs and expenses 11,478 401,339 — — 412,817  Operating income (11,478) 42,399 — — 30,921  Other income (expense)  Equity in earnings from consolidated subsidiaries 28,212 — — (28,212) —  Interest income 15 66 — — 81  Interest expense (1) (3) — — (4)  Acquisition expense (413) — — — (413)  Other income — 618 — — 618  Gain on disposition of assets — 323 — — 323  Income before income tax expense 16,335 43,403 — (28,212) 31,526  Income tax expense (4,790) 15,191 — — 10,401  Net income $ 21,125 $ 28,212 $ — $ (28,212) $ 21,125       Supplemental Condensed Consolidated Statement of Operations  For the Six Months Ended June 30, 2015 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS   Revenue  Home sales revenues $ — $ 341,143 $ — $ — $ 341,143  Land sales revenues — 370 — — 370  Golf course and other revenue — 3,979 — — 3,979  Total revenue — 345,492 — — 345,492  Cost of home sale revenues  Cost of homes sales revenues — 275,031 — — 275,031  Cost of land sales revenues — 365 — — 365  Cost of golf course and other revenue — 3,168 — — 3,168  Selling, general and administrative 10,440 33,304 — — 43,744  Total operating costs and expenses 10,440 311,868 — — 322,308  Operating income (10,440) 33,624 — — 23,184  Other income (expense)  Equity in earnings from consolidated subsidiaries 22,347 — — (22,347) —  Interest income 30 7 — — 37  Interest expense — (6) — — (6)  Acquisition expense (15) — — — (15)  Other income — 625 — — 625  Gain on disposition of assets — 130 — — 130  Income before income tax expense 11,922 34,380 — (22,347) 23,955  Income tax expense (4,227) 12,033 — — 7,806  Net income $ 16,149 $ 22,347 $ — $ (22,347) $ 16,149       Supplemental Condensed Consolidated Statement of Cash Flows  For the Six Months Ended June 30, 2016 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Net cash provided by/(used in) operating activities $ (10,020) $ (23,309) $ — $ — $ (33,329)  Net cash used in investing activities $ (23,108) $ (3,722) $ — $ 22,895 $ (3,935)  Financing activities  Borrowings under revolving credit facilities $ 90,000 $ — $ — $ — $ 90,000  Payments on revolving credit facilities (65,000) — — — (65,000)  Principal payments on notes payable (24) (3,018) — — (3,042)  Repurchases of common stock under our stock repurchase program (2,393) — — — (2,393)  Repurchases of common stock upon vesting of restricted stock awards (904) — — — (904)  Payments from (and advances to) parent/subsidiary — 22,895 — (22,895) —  Net cash provided by financing activities $ 21,679 $ 19,877 $ — $ (22,895) $ 18,661  Net decrease in cash and cash equivalents $ (11,449) $ (7,154) $ — $ — $ (18,603)  Cash and cash equivalents  Beginning of period $ 22,002 $ 7,285 $ — $ $ 29,287  End of period $ 10,553 $ 131 $ — $ — $ 10,684         Supplemental Condensed Consolidated Statement of Cash Flows  For the Six Months Ended June 30, 2015 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS   Net cash used in operating activities $ (5,139) $ (67,021) $ — $ — $ (72,160)  Net cash used in investing activities $ (83,969) $ (796) $ — $ 83,760 $ (1,005)  Financing activities  Borrowings under revolving credit facilities $ 75,000 $ — $ — $ — $ 75,000  Payments on revolving credit facilities (55,000) — — — (55,000)  Proceeds from issuance of senior notes 58,956 — — — 58,956  Proceeds from issuance of insurance premium notes — 448 — — 448  Principal payments on notes payable — (4,570) — — (4,570)  Debt issuance costs (1,784) — — — (1,784)  Repurchases of common stock upon vesting of restricted stock awards (717) — — — (717)  Payments from (and advances to) parent/subsidiary — 83,760 — (83,760) —  Net cash provided by financing activities $ 76,455 $ 79,638 $ — $ (83,760) $ 72,333  Net increase (decrease) in cash and cash equivalents $ (12,653) $ 11,821 $ — $ — $ (832)  Cash and cash equivalents  Beginning of period 22,710 10,752 — — 33,462  End of period $ 10,057 $ 22,573 $ — $ — $ 32,630

Basis of Presentation (Policy)

Basis of Presentation (Policy)	6 Months Ended
	Jun. 30, 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, Salt Lake City, Utah and Atlanta, Georgia. Our homebuilding operations are organized into the following six operating segments based on the geographic markets in which we operate: Atlanta, Central Texas, Colorado, Houston, Nevada, and Utah. 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)” and will be effective for the Company beginning on January 1, 2018, including interim reporting periods within that 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 early adopt ASU 2015-14. 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 the Company beginning January 1, 2019 and interim periods within the 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 the Company beginning January 1, 2017 and interim periods within the 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)	6 Months Ended
	Jun. 30, 2016
Reporting Segments [Abstract]
Schedule Of Home Sale Revenues And Pretax Income By Segment	  Three Months Ended Six Months Ended  June 30, June 30,  2016 2015 2016 2015   Revenue:  Atlanta $ 90,467 $ 70,260 $ 154,989 $ 126,900  Central Texas 23,925 16,537 53,049 33,573  Colorado 98,024 75,309 166,870 131,128  Houston 15,619 7,085 23,094 17,490  Nevada 31,607 19,863 45,736 36,401  Utah — — — —  Corporate — — — —  Total revenue $ 259,642 $ 189,054 $ 443,738 $ 345,492   Income before income tax expense:  Atlanta $ 8,729 $ 6,591 $ 13,979 $ 9,804  Central Texas 1,936 1,089 4,112 3,250  Colorado 12,946 9,624 23,789 17,519  Houston (892) (239) (1,686) (654)  Nevada 3,740 2,953 4,607 4,770  Utah (157) — (157) —  Corporate (7,205) (5,587) (13,118) (10,734)  Total income before income tax expense $ 19,097 $ 14,431 $ 31,526 $ 23,955 
Schedule Of Total Assets By Segment	   June 30, December 31,  2016 2015  Atlanta $ 229,777 $ 185,331  Central Texas 122,512 117,037  Colorado 313,197 313,653  Houston 34,812 51,534  Nevada 243,186 220,209  Utah 5,165 —  Corporate 22,463 29,977  Total assets $ 971,112 $ 917,741 

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2016
Inventories [Abstract]
Schedule Of Inventories	   June 30, December 31,  2016 2015  Homes under construction $ 484,258 $ 374,274  Land and land development 358,906 414,330  Capitalized interest 26,577 21,533  Total inventories $ 869,741 $ 810,137 

Prepaid Expenses and Other As24

Prepaid Expenses and Other Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Prepaid Expenses and Other Assets [Abstract]
Schedule Of Prepaid Expenses And Other Assets	   June 30, December 31,  2016 2015  Prepaid insurance $ 3,995 $ 5,696  Lot option and escrow deposits 4,346 4,634  Performance deposits 1,436 1,404  Deferred financing costs, net 1,925 2,318  Restricted cash 2,202 360  Secured note receivable 2,918 2,947  Assets held for sale 5,751 5,797  Other 2,512 3,579  Total prepaid expenses and other assets $ 25,085 $ 26,735 

Accrued Expenses and Other Li25

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2016
Accrued Expenses and Other Liabilities [Abstract]
Schedule Of Accrued Expenses And Other Liabilities	   June 30, December 31,  2016 2015  Earnest money deposits $ 9,758 $ 6,717  Warranty reserve 2,754 2,622  Accrued compensation costs 6,518 8,114  Land development and home construction accruals 90,051 83,322  Accrued interest 2,830 2,651  Income taxes payable 454 374  Liabilities related to assets held for sale 284 223  Other 2,792 2,754  Total accrued expenses and other liabilities $ 115,441 $ 106,777 

Warranty Reserve (Tables)

Warranty Reserve (Tables)	6 Months Ended
	Jun. 30, 2016
Warranty Reserve [Abstract]
Schedule Of Changes In Warranty Accrual	  Three Months Ended Six Months Ended  June 30, June 30,  2016 2015 2016 2015  Beginning balance $ 2,542 $ 2,527 $ 2,622 $ 2,194  Warranty expense provisions 822 810 1,392 1,429  Payments (375) (309) (640) (595)  Warranty adjustment (235) (596) (620) (596)  Ending balance $ 2,754 $ 2,432 $ 2,754 $ 2,432 

Notes Payable and Revolving L27

Notes Payable and Revolving Line of Credit (Tables)	6 Months Ended
	Jun. 30, 2016
Notes Payable and Revolving Line of Credit [Abstract]
Schedule Of Notes Payable And Revolving Loan Agreement	   June 30, December 31,  2016 2015  6.875% senior notes $ 252,441 $ 251,815  Revolving line of credit 160,000 135,000  Land development notes — 2,677  Insurance premium notes 410 751  Total notes payable and revolving line of credit $ 412,851 $ 390,243 

Interest (Tables)

Interest (Tables)	6 Months Ended
	Jun. 30, 2016
Interest [Abstract]
Schedule Of Capitalized Interest Costs	  Three Months Ended Six Months Ended  June 30, June 30,  2016 2015 2016 2015  Interest capitalized beginning of period $ 24,846 $ 13,600 $ 21,533 $ 11,302  Interest capitalized during period 6,649 4,971 13,029 8,890  Less: capitalized interest in cost of sales (4,918) (2,830) (7,985) (4,451)  Interest capitalized end of period $ 26,577 $ 15,741 $ 26,577 $ 15,741 

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Schedule Of Carrying Values And Estimated Fair Values Of Financial Instruments	   June 30, 2016 December 31, 2015  Hierarchy Carrying Fair Value Carrying Fair Value  Secured note receivable (1) Level 2 $ 2,918 $ 2,958 $ 2,947 $ 2,926   6.875% senior notes (2) Level 2 $ 252,441 $ 246,611 $ 251,815 $ 232,503  Revolving line of credit (3) Level 2 160,000 160,000 135,000 135,000  Land development notes (4) Level 2 — — 2,677 2,672  Insurance premium notes (3) Level 2 410 410 751 751  Total notes payable and revolving line of credit $ 412,851 $ 407,021 $ 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 June 30, 2016 and December 31, 2015 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 Senior Notes at June 30, 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 value of the land development notes at December 31, 2015 was 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)	6 Months Ended
	Jun. 30, 2016
Stock Issued or Granted During Period, Share-based Compensation [Abstract]
Summary Of Outstanding Restricted Stock Awards And Units	  As of  June 30, 2016  Restricted Stock Awards Restricted Stock Units  Unvested awards/units 388 506  Unrecognized compensation cost $5,469 $6,313  Period to recognize compensation cost 1.4 years 2.6 years 

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule Of Earnings Per Share, Basic And Diluted	  Three Months Ended Six Months Ended  June 30, June 30,  2016 2015 2016 2015  Numerator  Net income $ 13,142 $ 9,798 $ 21,125 $ 16,149  Less: Undistributed earnings allocated to participating securities (280) (361) (530) (533)  Net income allocable to common stockholders $ 12,862 $ 9,437 $ 20,595 $ 15,616  Denominator  Weighted average common shares outstanding - basic 20,649,910 20,556,536 20,628,598 20,533,237  Dilutive effect of restricted stock units 97,402 — 58,099 —  Weighted average common shares outstanding - diluted 20,747,312 20,556,536 20,686,697 20,533,237  Earnings per share:  Basic $ 0.62 $ 0.46 $ 1.00 $ 0.76  Diluted $ 0.62 $ 0.46 $ 1.00 $ 0.76 

Supplemental Guarantor Inform32

Supplemental Guarantor Information (Tables)	6 Months Ended
	Jun. 30, 2016
Supplemental Guarantor Information [Abstract]
Supplemental Condensed Consolidated Balance Sheet	   Supplemental Condensed Consolidated Balance Sheet  As of June 30, 2016 ( in thousands )  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Assets  Cash and cash equivalents $ 10,553 $ 131 $ — $ — $ 10,684  Accounts receivable 5,625 23,665 — — 29,290  Investment in subsidiaries 829,870 — — (829,870) —  Inventories — 869,741 — — 869,741  Prepaid expenses and other assets 3,272 21,813 — — 25,085  Property and equipment, net 940 10,062 — — 11,002  Deferred tax asset, net 279 — — — 279  Amortizable intangible assets, net — 3,666 — — 3,666  Goodwill — 21,365 — — 21,365  Total assets $ 850,539 $ 950,443 $ — $ (829,870) $ 971,112  Liabilities and stockholders’ equity  Liabilities:  Accounts payable $ 271 $ 11,779 $ — $ — $ 12,050  Accrued expenses and other liabilities 7,057 108,384 — — 115,441  Notes payable and revolving line of credit 412,441 410 — — 412,851  Total liabilities 419,769 120,573 — — 540,342  Stockholders’ equity: 430,770 829,870 — (829,870) 430,770  Total liabilities and stockholders’ equity $ 850,539 $ 950,443 $ — $ (829,870) $ 971,112      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 June 30, 2016 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Revenue  Home sales revenues $ — $ 257,179 $ — $ — $ 257,179  Land sales revenues — 1,288 — — 1,288  Golf course and other revenue — 1,175 — — 1,175  Total revenue — 259,642 — — 259,642  Costs and expenses  Cost of homes sales revenues — 207,883 — — 207,883  Cost of land sales revenues — 587 — — 587  Cost of golf course and other revenue — 884 — — 884  Selling, general and administrative 6,085 25,298 — — 31,383  Total operating costs and expenses 6,085 234,652 — — 240,737  Operating income (loss) (6,085) 24,990 — — 18,905  Other income (expense)  Equity in earnings from consolidated subsidiaries 16,522 — — (16,522) —  Interest income 9 32 — — 41  Interest expense (1) (1) — — (2)  Acquisition expense (244) — — — (244)  Other income — 294 — — 294  Loss on disposition of assets — 103 — — 103  Income before income tax expense 10,201 25,418 — (16,522) 19,097  Income tax expense (2,941) 8,896 — — 5,955  Net income $ 13,142 $ 16,522 $ — $ (16,522) $ 13,142           Supplemental Condensed Consolidated Statement of Operations  For the Three Months Ended June 30, 2015 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS   Revenue  Home sales revenues $ — $ 186,808 $ — $ — $ 186,808  Land sales revenue — 370 — — 370  Golf course and other revenue — 1,876 — — 1,876  Total revenue — 189,054 — — 189,054  Cost of home sale revenues  Cost of homes sales revenues — 150,225 — — 150,225  Cost of land sales revenues — 365 — — 365  Cost of golf course and other revenue — 1,662 — — 1,662  Selling, general and administrative 5,423 17,389 — — 22,812  Total operating costs and expenses 5,423 169,641 — — 175,064  Operating income (5,423) 19,413 — — 13,990  Other income (expense)  Equity in earnings from consolidated subsidiaries 12,905 — — (12,905) —  Interest income 15 6 — — 21  Interest expense — (3) — — (3)  Acquisition expense (15) — — — (15)  Other income — 308 — — 308  Gain on disposition of assets — 130 — — 130  Income before income tax expense 7,482 19,854 — (12,905) 14,431  Income tax expense (2,316) 6,949 — — 4,633  Net income $ 9,798 $ 12,905 $ — $ (12,905) $ 9,798    Supplemental Condensed Consolidated Statement of Operations  For the Six Months Ended June 30, 2016 ( in thousands )  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Revenue  Home sales revenues $ — $ 438,260 $ — $ — $ 438,260  Land sales revenues — 3,258 — — 3,258  Golf course and other revenue — 2,220 — — 2,220  Total revenue — 443,738 — — 443,738  Costs and expenses  Cost of homes sales revenues — 352,236 — — 352,236  Cost of land sales revenues — 2,413 — — 2,413  Cost of golf course and other revenue — 1,600 — — 1,600  Selling, general and administrative 11,478 45,090 — — 56,568  Total operating costs and expenses 11,478 401,339 — — 412,817  Operating income (11,478) 42,399 — — 30,921  Other income (expense)  Equity in earnings from consolidated subsidiaries 28,212 — — (28,212) —  Interest income 15 66 — — 81  Interest expense (1) (3) — — (4)  Acquisition expense (413) — — — (413)  Other income — 618 — — 618  Gain on disposition of assets — 323 — — 323  Income before income tax expense 16,335 43,403 — (28,212) 31,526  Income tax expense (4,790) 15,191 — — 10,401  Net income $ 21,125 $ 28,212 $ — $ (28,212) $ 21,125       Supplemental Condensed Consolidated Statement of Operations  For the Six Months Ended June 30, 2015 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS   Revenue  Home sales revenues $ — $ 341,143 $ — $ — $ 341,143  Land sales revenues — 370 — — 370  Golf course and other revenue — 3,979 — — 3,979  Total revenue — 345,492 — — 345,492  Cost of home sale revenues  Cost of homes sales revenues — 275,031 — — 275,031  Cost of land sales revenues — 365 — — 365  Cost of golf course and other revenue — 3,168 — — 3,168  Selling, general and administrative 10,440 33,304 — — 43,744  Total operating costs and expenses 10,440 311,868 — — 322,308  Operating income (10,440) 33,624 — — 23,184  Other income (expense)  Equity in earnings from consolidated subsidiaries 22,347 — — (22,347) —  Interest income 30 7 — — 37  Interest expense — (6) — — (6)  Acquisition expense (15) — — — (15)  Other income — 625 — — 625  Gain on disposition of assets — 130 — — 130  Income before income tax expense 11,922 34,380 — (22,347) 23,955  Income tax expense (4,227) 12,033 — — 7,806  Net income $ 16,149 $ 22,347 $ — $ (22,347) $ 16,149 
Supplemental Condensed Consolidated Statement Of Cash Flows	   Supplemental Condensed Consolidated Statement of Cash Flows  For the Six Months Ended June 30, 2016 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS  Net cash provided by/(used in) operating activities $ (10,020) $ (23,309) $ — $ — $ (33,329)  Net cash used in investing activities $ (23,108) $ (3,722) $ — $ 22,895 $ (3,935)  Financing activities  Borrowings under revolving credit facilities $ 90,000 $ — $ — $ — $ 90,000  Payments on revolving credit facilities (65,000) — — — (65,000)  Principal payments on notes payable (24) (3,018) — — (3,042)  Repurchases of common stock under our stock repurchase program (2,393) — — — (2,393)  Repurchases of common stock upon vesting of restricted stock awards (904) — — — (904)  Payments from (and advances to) parent/subsidiary — 22,895 — (22,895) —  Net cash provided by financing activities $ 21,679 $ 19,877 $ — $ (22,895) $ 18,661  Net decrease in cash and cash equivalents $ (11,449) $ (7,154) $ — $ — $ (18,603)  Cash and cash equivalents  Beginning of period $ 22,002 $ 7,285 $ — $ $ 29,287  End of period $ 10,553 $ 131 $ — $ — $ 10,684         Supplemental Condensed Consolidated Statement of Cash Flows  For the Six Months Ended June 30, 2015 (in thousands)  Guarantor Non Guarantor Elimination Consolidated  CCS Subsidiaries Subsidiaries Entries CCS   Net cash used in operating activities $ (5,139) $ (67,021) $ — $ — $ (72,160)  Net cash used in investing activities $ (83,969) $ (796) $ — $ 83,760 $ (1,005)  Financing activities  Borrowings under revolving credit facilities $ 75,000 $ — $ — $ — $ 75,000  Payments on revolving credit facilities (55,000) — — — (55,000)  Proceeds from issuance of senior notes 58,956 — — — 58,956  Proceeds from issuance of insurance premium notes — 448 — — 448  Principal payments on notes payable — (4,570) — — (4,570)  Debt issuance costs (1,784) — — — (1,784)  Repurchases of common stock upon vesting of restricted stock awards (717) — — — (717)  Payments from (and advances to) parent/subsidiary — 83,760 — (83,760) —  Net cash provided by financing activities $ 76,455 $ 79,638 $ — $ (83,760) $ 72,333  Net increase (decrease) in cash and cash equivalents $ (12,653) $ 11,821 $ — $ — $ (832)  Cash and cash equivalents  Beginning of period 22,710 10,752 — — 33,462  End of period $ 10,057 $ 22,573 $ — $ — $ 32,630 

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details)	6 Months Ended
	Jun. 30, 2016segment
Basis of Presentation [Abstract]
Number of geographic operating segments	6

Reporting Segments (Schedule Of

Reporting Segments (Schedule Of Segment Reporting Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total revenue	$ 259,642	$ 189,054	$ 443,738	$ 345,492
Total income before income tax expense	19,097	14,431	31,526	23,955
Total assets	971,112		971,112		$ 917,741
Atlanta [Member]
Segment Reporting Information [Line Items]
Total revenue	90,467	70,260	154,989	126,900
Total income before income tax expense	8,729	6,591	13,979	9,804
Total assets	229,777		229,777		185,331
Central Texas [Member]
Segment Reporting Information [Line Items]
Total revenue	23,925	16,537	53,049	33,573
Total income before income tax expense	1,936	1,089	4,112	3,250
Total assets	122,512		122,512		117,037
Colorado [Member]
Segment Reporting Information [Line Items]
Total revenue	98,024	75,309	166,870	131,128
Total income before income tax expense	12,946	9,624	23,789	17,519
Total assets	313,197		313,197		313,653
Houston [Member]
Segment Reporting Information [Line Items]
Total revenue	15,619	7,085	23,094	17,490
Total income before income tax expense	(892)	(239)	(1,686)	(654)
Total assets	34,812		34,812		51,534
Nevada [Member]
Segment Reporting Information [Line Items]
Total revenue	31,607	19,863	45,736	36,401
Total income before income tax expense	3,740	2,953	4,607	4,770
Total assets	243,186		243,186		220,209
Utah [Member]
Segment Reporting Information [Line Items]
Total income before income tax expense	(157)		(157)
Total assets	5,165		5,165
Corporate [Member]
Segment Reporting Information [Line Items]
Total income before income tax expense	(7,205)	$ (5,587)	(13,118)	$ (10,734)
Total assets	$ 22,463		$ 22,463		$ 29,977

Inventories (Schedule Of Invent

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Inventories [Abstract]
Homes under construction	$ 484,258		$ 374,274
Land and land development	358,906		414,330
Capitalized interest	26,577	$ 24,846	21,533	$ 15,741	$ 13,600	$ 11,302
Total inventories	$ 869,741		$ 810,137

Prepaid Expenses and Other As36

Prepaid Expenses and Other Assets (Schedule Of Prepaid Expenses And Other Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Prepaid Expenses and Other Assets [Abstract]
Prepaid insurance	$ 3,995	$ 5,696
Lot option and escrow deposits	4,346	4,634
Performance deposits	1,436	1,404
Deferred financing costs, net	1,925	2,318
Restricted cash	2,202	360
Secured note receivable	2,918	2,947
Assets held for sale	5,751	5,797
Other	2,512	3,579
Total prepaid expenses and other assets	$ 25,085	$ 26,735

Accrued Expenses and Other Li37

Accrued Expenses and Other Liabilities (Schedule Of Accrued Expenses And Other Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Accrued Expenses and Other Liabilities [Abstract]
Earnest money deposits	$ 9,758		$ 6,717
Warranty reserve	2,754	$ 2,542	2,622	$ 2,432	$ 2,527	$ 2,194
Accrued compensation costs	6,518		8,114
Land development and home construction accruals	90,051		83,322
Accrued interest	2,830		2,651
Income taxes payable	454		374
Liabilities related to assets held for sale	284		223
Other	2,792		2,754
Total accrued expenses and other liabilities	$ 115,441		$ 106,777

Warranty Reserve (Schedule Of C

Warranty Reserve (Schedule Of Changes In Warranty Accrual) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Warranty Reserve [Abstract]
Beginning balance	$ 2,542	$ 2,527	$ 2,622	$ 2,194
Warranty expense provisions	822	810	1,392	1,429
Payments	(375)	(309)	(640)	(595)
Warranty adjustment	(235)	(596)	(620)	(596)
Ending balance	$ 2,754	$ 2,432	$ 2,754	$ 2,432

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 ($)

Jun. 30, 2016USD ($)loan

Jun. 30, 2016USD ($)loan

Dec. 31, 2015USD ($)

Dec. 22, 2015USD ($)

Dec. 21, 2015USD ($)

Debt Instrument [Line Items]

Line of credit facility, outstanding amount

$ 160,000,000

$ 160,000,000

$ 135,000,000

Land Development Notes And Insurance Premium Notes [Member]

Debt Instrument [Line Items]

Notes, outstanding

$ 400,000

$ 400,000

$ 3,400,000

Senior Notes [Member]

Debt Instrument [Line Items]

Interest rate

6.875%

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

Repayments of notes

$ 2,400,000

Insurance Premium Note [Member]

Debt Instrument [Line Items]

Number of notes payable | loan

1

Interest rate

3.89%

3.89%

Maturity date

2017-03

Notes, outstanding

$ 400,000

$ 400,000

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 June 30, 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

1

Interest coverage ratio

1

1

Risk asset ratio

1

Revolving Credit Facility [Member] | Maximum

Debt Instrument [Line Items]

Leverage ratio

1.50

1.50

Interest coverage ratio

1.50

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	Jun. 30, 2016	Dec. 31, 2015
Notes Payable and Revolving Line of Credit [Abstract]
6.875% senior notes	$ 252,441	$ 251,815
Revolving line of credit	160,000	135,000
Land development notes		2,677
Insurance premium notes	410	751
Total notes payable and revolving line of credit	$ 412,851	$ 390,243

Interest (Schedule Of Capitaliz

Interest (Schedule Of Capitalized Interest Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Interest [Abstract]
Interest capitalized beginning of period	$ 24,846	$ 13,600	$ 21,533	$ 11,302
Interest capitalized during period	6,649	4,971	13,029	8,890
Less: capitalized interest in cost of sales	(4,918)	(2,830)	(7,985)	(4,451)
Interest capitalized end of period	$ 26,577	$ 15,741	$ 26,577	$ 15,741

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Taxes [Abstract]
Effective tax rate			34.00%
Blended federal and state effective tax rate			37.30%
Percentage of estimated benefits from additional deductions			3.30%
Income tax expense	$ 5,955	$ 4,633	$ 10,401	$ 7,806
Increase in income tax expense from discrete item related to the vesting of restricted stock awards	100
Decrease in income tax expense from energy credits	$ 600

Fair Value Disclosures (Schedul

Fair Value Disclosures (Schedule Of Carrying Values And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands		Jun. 30, 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		$ 412,851	$ 390,243
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total notes payable and revolving line of credit		407,021	370,926
Level 2 [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured note receivable	[1]	2,918	2,947
6.875% senior notes	[2]	252,441	251,815
Revolving line of credit	[3]	160,000	135,000
Land development notes	[4]		2,677
Insurance premium notes	[3]	410	751
Level 2 [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured note receivable	[1]	2,958	2,926
6.875% senior notes	[2]	246,611	232,503
Revolving line of credit	[3]	160,000	135,000
Land development notes	[4]		2,672
Insurance premium notes	[3]	$ 410	$ 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 June 30, 2016 and December 31, 2015 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 June 30, 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 value of the land development notes at December 31, 2015 was 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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 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		100,000,000
Common stock, par value	$ 0.01		$ 0.01		$ 0.01
Preferred stock shares authorized	50,000,000		50,000,000		50,000,000
Preferred stock, par value	$ 0.01		$ 0.01		$ 0.01
Common stock shares issued, excluding restricted common shares	20,700,000		20,700,000		20,600,000
Common stock shares outstanding, excluding restricted common shares	20,700,000		20,700,000		20,600,000
Common stock shares repurchased			200,000
Weighted average price per share	$ 15.03		$ 15.03
Common stock shares for stock award issuance	1,800,000		1,800,000
Common stock shares for stock award, available for issuance	600,000		600,000
Compensation expense	$ 1.7	$ 1.4	$ 3.5	$ 2.5
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares issued related to vesting of restricted stock awards	100,000		200,000
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted	17,100		500,000
Weighted average grant date fair value	$ 17.50		$ 14.28
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	6 Months Ended
	Jun. 30, 2016USD ($)shares
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested awards/units | shares	388
Unrecognized compensation cost | $	$ 5,469
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	506
Unrecognized compensation cost | $	$ 6,313
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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerator
Net income	$ 13,142	$ 9,798	$ 21,125	$ 16,149
Less: Undistributed earnings allocated to participating securities	(280)	(361)	(530)	(533)
Net income allocable to common stockholders	$ 12,862	$ 9,437	$ 20,595	$ 15,616
Denominator
Weighted average common shares outstanding - basic	20,649,910	20,556,536	20,628,598	20,533,237
Dilutive effect of restricted stock units	97,402		58,099
Weighted average common shares outstanding - diluted	20,747,312	20,556,536	20,686,697	20,533,237
Earnings per share:
Basic	$ 0.62	$ 0.46	$ 1	$ 0.76
Diluted	$ 0.62	$ 0.46	$ 1	$ 0.76

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Commitments and Contingencies [Abstract]
Outstanding letters of credit and performance bonds	$ 53.4	$ 63.6

Disposition of Golf Courses (Na

Disposition of Golf Courses (Narrative) (Details) - USD ($) $ in Thousands	May 26, 2015	Jun. 30, 2016
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]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Probable disposition of golf course		1 year

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	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 10,684	$ 29,287	$ 32,630	$ 33,462
Accounts receivable	29,290	17,058
Inventories	869,741	810,137
Prepaid expenses and other assets	25,085	26,735
Property and equipment, net	11,002	8,375
Deferred tax asset, net	279
Amortizable intangible assets, net	3,666	4,784
Goodwill	21,365	21,365
Total Assets	971,112	917,741
Liabilities:
Accounts payable	12,050	10,967
Accrued expenses and other liabilities	115,441	106,777
Deferred tax liability, net		275
Notes payable and revolving line of credit	412,851	390,243
Total liabilities	540,342	508,262
Stockholders' equity:	430,770	409,479
Total liabilities and stockholders' equity	971,112	917,741
CCS [Member]
Assets
Cash and cash equivalents	10,553	22,002	10,057	22,710
Accounts receivable	5,625	1,239
Investment in subsidiaries	829,870	777,898
Prepaid expenses and other assets	3,272	3,727
Property and equipment, net	940	857
Deferred tax asset, net	279
Total Assets	850,539	805,723
Liabilities:
Accounts payable	271
Accrued expenses and other liabilities	7,057	9,154
Deferred tax liability, net		275
Notes payable and revolving line of credit	412,441	386,815
Total liabilities	419,769	396,244
Stockholders' equity:	430,770	409,479
Total liabilities and stockholders' equity	850,539	805,723
Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents	131	7,285	$ 22,573	$ 10,752
Accounts receivable	23,665	15,819
Inventories	869,741	810,137
Prepaid expenses and other assets	21,813	23,008
Property and equipment, net	10,062	7,518
Amortizable intangible assets, net	3,666	4,784
Goodwill	21,365	21,365
Total Assets	950,443	889,916
Liabilities:
Accounts payable	11,779	10,967
Accrued expenses and other liabilities	108,384	97,623
Notes payable and revolving line of credit	410	3,428
Total liabilities	120,573	112,018
Stockholders' equity:	829,870	777,898
Total liabilities and stockholders' equity	950,443	889,916
Elimination Entries [Member]
Assets
Investment in subsidiaries	(829,870)	(777,898)
Total Assets	(829,870)	(777,898)
Liabilities:
Stockholders' equity:	(829,870)	(777,898)
Total liabilities and stockholders' equity	$ (829,870)	$ (777,898)

Supplemental Guarantor Inform51

Supplemental Guarantor Information (Supplemental Condensed Consolidated Statement Of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues
Home sales revenues	$ 257,179	$ 186,808	$ 438,260	$ 341,143
Land sales revenues	1,288	370	3,258	370
Golf course and other revenue	1,175	1,876	2,220	3,979
Total revenue	259,642	189,054	443,738	345,492
Cost of home sales revenues	207,883	150,225	352,236	275,031
Cost of land sales revenues	587	365	2,413	365
Cost of golf course and other revenue	884	1,662	1,600	3,168
Selling, general, and administrative	31,383	22,812	56,568	43,744
Total operating costs and expenses	240,737	175,064	412,817	322,308
Operating income (loss)	18,905	13,990	30,921	23,184
Other income (expense):
Interest income	41	21	81	37
Interest expense	(2)	(3)	(4)	(6)
Acquisition expense	(244)	(15)	(413)	(15)
Other income	294	308	618	625
Gain on disposition of assets	103	130	323	130
Income before income tax expense	19,097	14,431	31,526	23,955
Income tax expense (benefit)	5,955	4,633	10,401	7,806
Net income	13,142	9,798	21,125	16,149
CCS [Member]
Revenues
Selling, general, and administrative	6,085	5,423	11,478	10,440
Total operating costs and expenses	6,085	5,423	11,478	10,440
Operating income (loss)	(6,085)	(5,423)	(11,478)	(10,440)
Other income (expense):
Equity in earnings from consolidated subsidiaries	16,522	12,905	28,212	22,347
Interest income	9	15	15	30
Interest expense	(1)		(1)
Acquisition expense	(244)	(15)	(413)	(15)
Income before income tax expense	10,201	7,482	16,335	11,922
Income tax expense (benefit)	(2,941)	(2,316)	(4,790)	(4,227)
Net income	13,142	9,798	21,125	16,149
Guarantor Subsidiaries [Member]
Revenues
Home sales revenues	257,179	186,808	438,260	341,143
Land sales revenues	1,288	370	3,258	370
Golf course and other revenue	1,175	1,876	2,220	3,979
Total revenue	259,642	189,054	443,738	345,492
Cost of home sales revenues	207,883	150,225	352,236	275,031
Cost of land sales revenues	587	365	2,413	365
Cost of golf course and other revenue	884	1,662	1,600	3,168
Selling, general, and administrative	25,298	17,389	45,090	33,304
Total operating costs and expenses	234,652	169,641	401,339	311,868
Operating income (loss)	24,990	19,413	42,399	33,624
Other income (expense):
Interest income	32	6	66	7
Interest expense	(1)	(3)	(3)	(6)
Other income	294	308	618	625
Gain on disposition of assets	103	130	323	130
Income before income tax expense	25,418	19,854	43,403	34,380
Income tax expense (benefit)	8,896	6,949	15,191	12,033
Net income	16,522	12,905	28,212	22,347
Elimination Entries [Member]
Other income (expense):
Equity in earnings from consolidated subsidiaries	(16,522)	(12,905)	(28,212)	(22,347)
Income before income tax expense	(16,522)	(12,905)	(28,212)	(22,347)
Net income	$ (16,522)	$ (12,905)	$ (28,212)	$ (22,347)

Supplemental Guarantor Inform52

Supplemental Guarantor Information (Supplemental Condensed Consolidated Statement Of Cash Flows) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by/(used in) operating activities	$ (33,329)	$ (72,160)
Net cash used in investing activities	(3,935)	(1,005)
Financing activities
Borrowings under revolving credit facilities	90,000	75,000
Payments on revolving credit facilities	(65,000)	(55,000)
Principal payments on notes payable	(3,042)	(4,570)
Debt issuance costs		(1,784)
Proceeds from issuance of senior notes		58,956
Proceeds from issuances of insurance premium notes		448
Repurchases of common stock under our stock repurchase program	(2,393)
Repurchases of common stock upon vesting of restricted stock awards	(904)	(717)
Net cash provided by financing activities	18,661	72,333
Net increase (decrease) in cash and cash equivalents	(18,603)	(832)
Cash and cash equivalents, Beginning of period	29,287	33,462
Cash and cash equivalents, End of period	10,684	32,630
CCS [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by/(used in) operating activities	(10,020)	(5,139)
Net cash used in investing activities	(23,108)	(83,969)
Financing activities
Borrowings under revolving credit facilities	90,000	75,000
Payments on revolving credit facilities	(65,000)	(55,000)
Principal payments on notes payable	(24)
Debt issuance costs		(1,784)
Proceeds from issuance of senior notes		58,956
Repurchases of common stock under our stock repurchase program	(2,393)
Repurchases of common stock upon vesting of restricted stock awards	(904)	(717)
Net cash provided by financing activities	21,679	76,455
Net increase (decrease) in cash and cash equivalents	(11,449)	(12,653)
Cash and cash equivalents, Beginning of period	22,002	22,710
Cash and cash equivalents, End of period	10,553	10,057
Guarantor Subsidiaries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by/(used in) operating activities	(23,309)	(67,021)
Net cash used in investing activities	(3,722)	(796)
Financing activities
Principal payments on notes payable	(3,018)	(4,570)
Proceeds from issuances of insurance premium notes		448
Payments from (and advances to) parent/subsidiary	22,895	83,760
Net cash provided by financing activities	19,877	79,638
Net increase (decrease) in cash and cash equivalents	(7,154)	11,821
Cash and cash equivalents, Beginning of period	7,285	10,752
Cash and cash equivalents, End of period	131	22,573
Elimination Entries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash used in investing activities	22,895	83,760
Financing activities
Payments from (and advances to) parent/subsidiary	(22,895)	(83,760)
Net cash provided by financing activities	$ (22,895)	$ (83,760)