Century Communities (CCS) 10-Q 29 Jul 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 23, 2021
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Fiscal Period Focus	Q2
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-36491
Entity Registrant Name	Century Communities, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	68-0521411
Entity Address, Address Line One	8390 East Crescent Parkway
Entity Address, Address Line Two	Suite 650
Entity Address, City or Town	Greenwood Village
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80111
City Area Code	303
Local Phone Number	770-8300
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	CCS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		33,760,940
Entity Central Index Key	0001576940
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 419,416	$ 394,001
Cash held in escrow	37,640	23,149
Accounts receivable	30,286	21,781
Inventories	1,948,769	1,929,664
Mortgage loans held for sale	235,712	282,639
Prepaid expenses and other assets	147,284	122,630
Property and equipment, net	26,359	28,384
Deferred tax assets, net	18,392	12,450
Goodwill	30,395	30,395
Total assets	2,894,253	2,845,093
Liabilities:
Accounts payable	80,609	107,712
Accrued expenses and other liabilities	263,956	302,751
Notes payable	901,254	894,875
Revolving line of credit
Mortgage repurchase facilities	159,776	259,050
Total liabilities	1,405,595	1,564,388
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, 33,760,940 and 33,350,633 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively	338	334
Additional paid-in capital	690,707	697,200
Retained earnings	797,613	583,171
Total stockholders' equity	1,488,658	1,280,705
Total liabilities and stockholders' equity	$ 2,894,253	$ 2,845,093

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
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	33,760,940	33,350,633
Common stock shares outstanding	33,760,940	33,350,633

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues
Total revenues	$ 1,042,912	$ 776,444	$ 2,051,481	$ 1,379,053
Selling, general and administrative	(99,656)	(86,706)	(191,807)	(160,325)
Inventory impairment and other	(41)	(910)	(41)	(1,691)
Other income (expense)	(1,245)	(2,942)	(1,786)	(2,784)
Income before income tax expense	152,134	50,103	283,183	84,191
Income tax expense	(34,224)	(11,653)	(63,621)	(19,615)
Net income	$ 117,910	$ 38,450	$ 219,562	$ 64,576
Earnings per share:
Basic	$ 3.49	$ 1.15	$ 6.52	$ 1.94
Diluted	$ 3.47	$ 1.15	$ 6.47	$ 1.93
Weighted average common shares outstanding:
Basic	33,738,586	33,340,184	33,651,727	33,274,056
Diluted	33,956,638	33,461,694	33,920,939	33,469,069
Homebuilding [Member]
Revenues
Total revenues	$ 1,013,047	$ 750,722	$ 1,987,996	$ 1,343,536
Cost of revenues	(771,668)	(623,039)	(1,538,195)	(1,107,732)
Home Sales [Member]
Revenues
Total revenues	1,004,789	747,415	1,964,068	1,320,125
Cost of revenues	(764,668)	(620,655)	(1,521,175)	(1,091,181)
Land Sales And Other [Member]
Revenues
Total revenues	8,258	3,307	23,928	23,411
Cost of revenues	(7,000)	(2,384)	(17,020)	(16,551)
Financial Services [Member]
Revenues
Total revenues	29,865	25,722	63,485	35,517
Cost of revenues	$ (18,168)	$ (12,744)	$ (36,469)	$ (22,330)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating activities
Net income	$ 219,562	$ 64,576
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	5,655	6,842
Stock-based compensation expense	7,212	8,588
Fair value of mortgage loans held for sale and other	3,359	(6,175)
Inventory impairment and other	41	1,691
Deferred income taxes	(5,942)	(1,322)
Loss on disposition of assets	804	914
Changes in assets and liabilities:
Cash held in escrow	(14,491)	(11,311)
Accounts receivable	(8,505)	4,592
Inventories	(56,779)	138,049
Mortgage loans held for sale	42,659	(30,990)
Prepaid expenses and other assets	(25,694)	13,229
Accounts payable	(27,103)	(35,158)
Accrued expenses and other liabilities	2,643	20,259
Net cash provided by operating activities	143,421	173,784
Investing activities
Purchases of property and equipment	(4,405)	(4,913)
Other investing activities	54	62
Net cash used in investing activities	(4,351)	(4,851)
Financing activities
Borrowings under revolving credit facilities		678,000
Payments on revolving credit facilities		(746,700)
Proceeds from issuance of insurance premium notes and other	9,477	4,542
Principal payments on insurance notes payable	(3,854)	(4,220)
Net proceeds (payments) on mortgage repurchase facilities	(99,274)	23,374
Withholding of common stock upon vesting of restricted stock units	(13,726)	(5,145)
Dividend payments	(5,065)
Other	(34)	(345)
Net cash used in financing activities	(112,476)	(50,494)
Net increase	26,594	118,439
Cash and cash equivalents and Restricted cash, Beginning of period	398,081	58,521
Cash and cash equivalents and Restricted cash, End of period	424,675	176,960
Supplemental cash flow disclosure
Cash paid for income taxes	78,909	410
Cash and cash equivalents and Restricted cash
Cash and cash equivalents	419,416	173,521
Restricted cash (Note 5)	$ 5,259	$ 3,439

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Total
Beginning balance at Dec. 31, 2019	$ 331	$ 684,354	$ 377,014	$ 1,061,699
Beginning balance, shares at Dec. 31, 2019	33,067
Vesting of restricted stock units	$ 5	(5)
Vesting of restricted stock units, shares	454
Withholding of common stock upon vesting of restricted stock units	$ (2)	(5,143)		(5,145)
Withholding of common stock upon vesting of restricted stock units, shares	(170)
Stock-based compensation expense		8,588		8,588
Other		(230)		(230)
Net income			64,576	64,576
Ending balance at Jun. 30, 2020	$ 334	687,564	441,590	1,129,488
Ending balance, shares at Jun. 30, 2020	33,351
Beginning balance at Mar. 31, 2020	$ 333	681,060	403,140	1,084,533
Beginning balance, shares at Mar. 31, 2020	33,319
Vesting of restricted stock units	$ 1	(1)
Vesting of restricted stock units, shares	42
Withholding of common stock upon vesting of restricted stock units		(168)		(168)
Withholding of common stock upon vesting of restricted stock units, shares	(10)
Stock-based compensation expense		6,903		6,903
Other		(230)		(230)
Net income			38,450	38,450
Ending balance at Jun. 30, 2020	$ 334	687,564	441,590	1,129,488
Ending balance, shares at Jun. 30, 2020	33,351
Beginning balance at Dec. 31, 2020	$ 334	697,200	583,171	1,280,705
Beginning balance, shares at Dec. 31, 2020	33,351
Vesting of restricted stock units	$ 7	(7)
Vesting of restricted stock units, shares	675
Withholding of common stock upon vesting of restricted stock units	$ (3)	(13,723)		(13,726)
Withholding of common stock upon vesting of restricted stock units, shares	(265)
Stock-based compensation expense		7,212		7,212
Cash dividends declared		55	(5,120)	(5,065)
Other		(30)		(30)
Net income			219,562	219,562
Ending balance at Jun. 30, 2021	$ 338	690,707	797,613	1,488,658
Ending balance, shares at Jun. 30, 2021	33,761
Beginning balance at Mar. 31, 2021	$ 337	688,009	684,823	1,373,169
Beginning balance, shares at Mar. 31, 2021	33,708
Vesting of restricted stock units	$ 1	(1)
Vesting of restricted stock units, shares	74
Withholding of common stock upon vesting of restricted stock units		(1,549)		(1,549)
Withholding of common stock upon vesting of restricted stock units, shares	(21)
Stock-based compensation expense		4,193		4,193
Cash dividends declared		55	(5,120)	(5,065)
Net income			117,910	117,910
Ending balance at Jun. 30, 2021	$ 338	$ 690,707	$ 797,613	$ 1,488,658
Ending balance, shares at Jun. 30, 2021	33,761

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2021
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation Century Communities, Inc. (which we refer to as “we,” “CCS,” or the “Company”), together with its subsidiaries, is engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in 17 states. In many of our projects, in addition to building homes, we are responsible for the entitlement and development of the underlying land. We build and sell homes under our Century Communities and Century Complete brands. Our Century Communities brand targets a wide range of buyer profiles including: entry-level, first and second time move-up, and lifestyle homebuyers, and provides our homebuyers with the ability to personalize their homes through certain option and upgrade opportunities. Our Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the internet, and generally provides no option or upgrade opportunities. Our homebuilding operations are organized into the following five reportable segments: West, Mountain, Texas, Southeast, and Century Complete. Additionally, our indirect wholly-owned subsidiaries, Inspire Home Loans Inc., Parkway Title, LLC, and IHL Home Insurance Agency, LLC, which provide mortgage, title, and insurance services, respectively, primarily to our homebuyers, have been identified as our Financial Services segment. 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”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (which we refer to as the “SEC”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation of our financial position and results of operations for the periods presented. 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, 2020, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 that was filed with the SEC on February 5, 2021. Principles of Consolidation The condensed 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. We currently do not have any variable interest entities in which we are deemed 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 Adopted Accounting Standards Income Taxes In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, “ Income Taxes (Topic 740) : Simplifying the Accounting for Income Taxes” (“ASU 2019-12”). The standard simplifies the accounting for income taxes, eliminates certain exceptions, and clarifies certain aspects of ASC 740 to promote consistency among reporting entities. We adopted this standard on January 1, 2021 with no material effect on the condensed consolidated financial statements and related disclosures.

Reporting Segments

Reporting Segments	6 Months Ended
	Jun. 30, 2021
Reporting Segments [Abstract]
Reporting Segments	2. Reporting Segments Our homebuilding operations are engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in 17 states. We build and sell homes under our Century Communities and Century Complete brands. Our Century Communities brand is managed by geographic location, and each of our four geographic regions targets a wide range of buyer profiles including: entry-level, first and second time move-up, and lifestyle homebuyers, and provides our homebuyers with the ability to personalize their homes through certain option and upgrade selections. Each of our four geographic regions is considered a separate operating segment. Our Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the internet, and generally provides no option or upgrade selections. Our Century Complete brand currently has operations in 11 states and is managed separately from our four geographic regions. Accordingly, it is considered a separate operating segment. The management of our four Century Communities geographic regions and Century Complete reports to our chief operating decision makers (which we refer to as “CODMs”), the Co-Chief Executive Officers of our Company. The CODMs review the results of our operations, including total revenue and income before income tax expense to determine profitability and to allocate resources. Accordingly, we have presented our homebuilding operations as the following five reportable segments:  West (California and Washington)  Mountain (Arizona, Colorado, Nevada, and Utah)  Texas  Southeast (Georgia, North Carolina, South Carolina, Tennessee, and Florida)  Century Complete (Alabama, Arizona, Florida, Georgia, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, and Texas) We have also identified our Financial Services operations, which provide mortgage, title, and insurance services to our homebuyers, as a sixth reportable segment. Our Corporate operations are a non-operating segment, as they serve to support our homebuilding, and to a lesser extent our financial services operations, through functions, such as our executive, finance, treasury, human resources, accounting and legal departments. The following table summarizes total revenue and income before income tax expense by segment (in thousands ): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Revenue: West $ 237,367 $ 166,125 $ 423,193 $ 298,012 Mountain 295,001 177,569 600,314 348,721 Texas 132,789 98,678 220,524 158,842 Southeast 168,519 174,626 388,925 306,128 Century Complete 179,371 133,724 355,040 231,833 Financial Services 29,865 25,722 63,485 35,517 Corporate — — — — Total revenue $ 1,042,912 $ 776,444 $ 2,051,481 $ 1,379,053 Income (loss) before income tax expense: West $ 40,903 $ 13,747 $ 68,364 $ 29,089 Mountain 55,814 20,616 107,794 39,094 Texas 19,139 9,610 27,670 15,108 Southeast 26,096 12,020 49,536 20,329 Century Complete 23,089 8,548 44,819 9,333 Financial Services 11,697 12,978 27,016 13,187 Corporate ( 24,604 ) ( 27,416 ) ( 42,016 ) ( 41,949 ) Total income before income tax expense $ 152,134 $ 50,103 $ 283,183 $ 84,191 The following table summarizes total assets by segment (in thousands): June 30, December 31, 2021 2020 West $ 611,192 $ 536,907 Mountain 803,816 778,198 Texas 238,221 207,746 Southeast 279,101 329,930 Century Complete 284,838 218,604 Financial Services 333,109 421,153 Corporate 343,976 352,555 Total assets $ 2,894,253 $ 2,845,093 Corporate assets primarily include certain cash and cash equivalents, certain property and equipment, prepaid insurance, and deferred financing costs on our revolving line of credit.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2021
Inventories [Abstract]
Inventories	3. Inventories Inventories included the following (in thousands): June 30, December 31, 2021 2020 Homes under construction $ 1,156,881 $ 1,040,584 Land and land development 737,727 828,242 Capitalized interest 54,161 60,838 Total inventories $ 1,948,769 $ 1,929,664

Financial Services

Financial Services	6 Months Ended
	Jun. 30, 2021
Financial Services [Abstract]
Financial Services	4. Financial Services Our Financial Services are principally comprised of our mortgage lending operations, Inspire Home Loans Inc. (which we refer to as “Inspire”). Inspire is a full-service mortgage lender and primarily originates mortgage loans for our homebuyers. Inspire sells substantially all of the loans it originates either as loans with servicing rights released, or with servicing rights retained, in the secondary mortgage market within a short period of time after origination, generally within 30 days. Inspire primarily finances these loans using its mortgage repurchase facilities. Mortgage loans in process for which interest rates were locked by borrowers, or interest rate lock commitments, totaled approximately $ 148.7 million and $ 172.3 million at June 30, 2021 and December 31, 2020, respectively, and carried a weighted average interest rate of approximately 3.2 % and 2.8 %, respectively . As of June 30, 2021 and December 31, 2020, Inspire had mortgage loans held for sale with an aggregate fair value of $ 235.7 million and $ 282.6 million, respectively, and an aggregate outstanding principal balance of $ 226.9 million and $ 269.6 million, respectively. Our net gains on the sale of mortgage loans were $ 23.9 million and $ 16.1 million for the three months ended June 30, 2021 and 2020, respectively, and were $ 46.8 million and $ 27.6 million for the six months ended June 30, 2021 and 2020, respectively, and are included in the financial services revenue on the condensed consolidated statements of operations. Interest rate risks related to these obligations are typically mitigated by the preselling of loans to investors or through our program to economically hedge interest rates. Mortgage loans in process for which interest rates were committed to borrowers, mortgage loans held-for-sale, including the rights to service the mortgage loans, as well as the derivative instrument used to economically hedge our interest rate risk, which are typically forward commitments on mortgage backed securities, are carried at fair value and changes in fair value are reflected in financial services revenue on the condensed consolidated statements of operations. Management believes carrying loans held-for-sale and the derivative instruments used to economically hedge them at fair value improves financial reporting by more accurately reflecting the underlying transaction. Refer to Note 11 – Fair Value Disclosures for further information regarding our derivative instruments .

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	6 Months Ended
	Jun. 30, 2021
Prepaid Expenses and Other Assets [Abstract]
Prepaid Expenses and Other Assets	5. Prepaid Expenses and Other Assets Prepaid expenses and other assets included the following (in thousands): June 30, December 31, 2021 2020 Prepaid insurance $ 22,060 $ 18,699 Lot option and escrow deposits 52,749 39,985 Performance deposits 10,104 9,372 Deferred financing costs on revolving line of credit, net 5,727 3,206 Restricted cash (1) 5,259 4,080 Secured note receivable 2,380 2,434 Right of use assets 14,012 16,175 Other assets and prepaid expenses 8,327 8,082 Mortgage loans held for investment 10,823 8,727 Derivative assets and mortgage servicing rights 15,843 11,870 Total prepaid expenses and other assets $ 147,284 $ 122,630 (1) Restricted cash consists of earnest money deposits for home sale contracts held by third parties as required by various jurisdictions, and certain pledge balances associated with our mortgage repurchase facilities.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2021
Accrued Expenses and Other Liabilities [Abstract]
Accrued Expenses and Other Liabilities	6. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities included the following (in thousands): June 30, December 31, 2021 2020 Earnest money deposits $ 42,114 $ 30,578 Warranty reserve 13,862 13,824 Accrued compensation costs 51,842 60,692 Land development and home construction accruals 81,381 80,088 Liability for product financing arrangements 19,808 62,084 Accrued interest 13,649 13,649 Lease liabilities - operating leases 14,551 16,801 Income taxes payable — 3,118 Derivative liabilities 758 3,807 Other accrued liabilities 25,991 18,110 Total accrued expenses and other liabilities $ 263,956 $ 302,751

Warranties

Warranties	6 Months Ended
	Jun. 30, 2021
Warranties [Abstract]
Warranties	7. Warranties 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 condensed consolidated balance sheets, are based upon historical experience rates. We subsequently assess the adequacy of our warranty accrual on a quarterly basis through a model that incorporates historical payment trends and adjust the amounts recorded, if necessary. Based on warranty payment trends relative to our estimates at the time of home closing, we reduced our warranty reserve by $ 0.4 million and $ 0.2 million during the three months ended June 30, 2021 and 2020, respectively, and we reduced our warranty reserve by $ 2.2 million and $ 1.3 million during the six months ended June 30, 2021 and 2020, respectively. These adjustments are included in cost of home sales revenues on our condensed consolidated statements of operations. Changes in our warranty accrual for the three and six months ended June 30, 2021 and 2020 are detailed in the table below (in thousands) : Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Beginning balance $ 13,480 $ 9,727 $ 13,824 $ 9,731 Warranty expense provisions 2,382 2,274 4,680 4,051 Payments ( 1,605 ) ( 612 ) ( 2,444 ) ( 1,301 ) Warranty adjustment ( 395 ) ( 168 ) ( 2,198 ) ( 1,260 ) Ending balance $ 13,862 $ 11,221 $ 13,862 $ 11,221

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt [Abstract]
Debt	8. Debt Our outstanding debt obligations included the following as of June 30, 2021 and December 31, 2020 (in thousands): June 30, December 31, 2021 2020 6.750 % senior notes, due May 2027 (1) $ 495,176 $ 494,768 5.875 % senior notes, due July 2025 (1) 397,170 396,821 Other financing obligations 8,908 3,286 Notes payable 901,254 894,875 Revolving line of credit — — Mortgage repurchase facilities 159,776 259,050 Total debt $ 1,061,030 $ 1,153,925 (1) The carrying value of senior notes reflects the impact of premiums, discounts, and issuance costs that are amortized to interest expense over the respective terms of the senior notes. Revolving Line of Credit On June 5, 2018, we entered into an Amended and Restated Credit Agreement with Texas Capital Bank, National Association, as Administrative Agent and L/C Issuer, the lenders party thereto and certain of our subsidiaries (which we refer to as the “Amended and Restated Credit Agreement”), which provided us with a revolving line of credit of up to $ 640.0 million, and unless terminated earlier, was scheduled to mature on April 30, 2023 . On May 21, 2021, we entered into a Second Amended and Restated Credit Agreement (the “Second A&R Credit Agreement”) with Texas Capital Bank, National Association, as Administrative Agent and L/C Issuer, and the lenders party thereto. The Second A&R Credit Agreement, which amended and restated the Amended and Restated Credit Agreement , provides us with a senior unsecured revolving line of credit (the “Credit Facility”) of up to $ 800 million, and unless terminated earlier, will mature on April 30, 2026 . The Credit Facility includes a $ 250.0 million sublimit for standby letters of credit. Under the terms of the Second A&R Credit Agreement, the Company is entitled to request an increase in the size of the Credit Facility by an amount not exceeding $ 200 million. Our obligations under the Second A&R Credit Agreement are guaranteed by certain of our subsidiaries. The Second A&R 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. Borrowings under the Second A&R Credit Agreement bear interest at a floating rate equal to the adjusted Eurodollar Rate plus an applicable margin between 2.05 % and 2.65 % per annum, and if made available in the Administrative Agent’s discretion, a base rate plus an applicable margin between 1.05 % and 1.65 % per annum. As of June 30, 2021 and December 31, 2020, no amounts were outstanding under the Credit Facility, and we were in compliance with all covenants. Mortgage Repurchase Facilities – Financial Services On May 4, 2018, September 14, 2018, and August 1, 2019, Inspire entered into mortgage warehouse facilities, with Comerica Bank, J.P. Morgan, and Wells Fargo, respectively. The mortgage warehouse lines of credit (which we refer to as the “repurchase facilities”), which were increased in 2020, provide Inspire with uncommitted repurchase facilities of up to $ 350 million as of June 30, 2021, secured by the mortgage loans financed thereunder. The repurchase facilities have varying short term maturity dates through June 21, 2022 and bear a weighted average interest rate of 2.38 %. Amounts outstanding under the repurchase facilities are not guaranteed by us or any of our subsidiaries and the agreements contain various affirmative and negative covenants applicable to Inspire that are customary for arrangements of this type. As of June 30, 2021 and December 31, 2020, we had $ 159.8 million and $ 259.1 million outstanding under these repurchase facilities, respectively, and were in compliance with all covenants thereunder. During the three months ended June 30, 2021 and 2020, we incurred interest expense on the repurchase facilities of $ 0.6 million and $ 0.5 million, respectively, which are included in financial services costs on our condensed consolidated statements of operations. During the six months ended June 30, 2021 and 2020, we incurred interest expense on the repurchase facilities of $ 1.4 million and $ 1.3 million, respectively.

Interest

Interest	6 Months Ended
	Jun. 30, 2021
Interest [Abstract]
Interest	9. 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 and six months ended June 30, 2021 and 2020, we capitalized all interest costs incurred during these periods, except for interest incurred on our mortgage repurchase facilities. Our interest costs are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Interest capitalized beginning of period $ 57,509 $ 70,837 $ 60,838 $ 67,069 Interest capitalized during period 15,058 18,168 30,106 35,621 Less: capitalized interest in cost of sales ( 18,406 ) ( 18,694 ) ( 36,783 ) ( 32,379 ) Interest capitalized end of period $ 54,161 $ 70,311 $ 54,161 $ 70,311

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Taxes [Abstract]
Income Taxes	10 . 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 2021 estimated annual effective tax rate, before discrete items, of 23.5 % is driven by our blended federal and state statutory rate of 24.7 %, and certain permanent differences between GAAP and tax, including disallowed deductions for executive compensation and estimated federal energy credits for current year home deliveries, which decreased our rate by 1.2 %. For the six months ended June 30, 2021, our estimated annual rate of 23.5 % was impacted by discrete items which had a net impact of decreasing our rate by 1.0 %, including federal energy tax credits claimed on prior year home deliveries in excess of previous estimates and excess tax benefits for vested stock-based compensation. For the three months ended June 30, 2021 and 2020, we recorded income tax expense of $ 34.2 million and $ 11.7 million, respectively. For the six months ended June 30, 2021 and 2020, we recorded income tax expense of $ 63.6 million and $ 19.6 million, respectively.

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Disclosures	11. Fair Value Disclosures Fair value measurements are used for the Company’s mortgage loans held for sale, mortgage loans held for investment, mortgage servicing rights, interest rate lock commitments and other derivative instruments on a recurring basis. We also utilize fair value measurements on a non-recurring basis for inventories, and intangible assets when events and circumstances indicate that the carrying value is not recoverable. The fair value hierarchy and its application to the Company’s assets and liabilities is as follows: 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 the measurement date.  Mortgage loans held for sale – Fair value is based on quoted market prices for committed mortgage loans.  Derivative assets and liabilities – Derivative assets and liabilities are related to our financial services segment and f air value is based on market prices for similar instruments. Level 3 – Valuations derived from techniques where one or more significant inputs or significant value drivers are unobservable in active markets at the measurement date.  Mortgage servicing rights - The fair value of the mortgage servicing rights is calculated using third-party valuations. The key assumptions, which are generally unobservable inputs, used in the valuation of the mortgage servicing rights include mortgage prepayment rates, discount rates and delinquency rates.  Mortgage loans held for investment – The fair value of mortgage loans held for investment is calculated based on Level 3 analysis which incorporates information including the value of underlying collateral, from markets where there is little observable trading activity. The following outlines the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2021 and December 31, 2020, respectively: June 30, December 31, Balance Sheet Classification Hierarchy 2021 2020 Mortgage loans held for sale Mortgage loans held for sale Level 2 $ 235,712 $ 282,639 Mortgage loans held for investment Prepaid expenses and other assets Level 3 $ 10,823 $ 8,727 Derivative assets Prepaid expenses and other assets Level 2 $ 5,545 $ 7,755 Mortgage servicing rights (1) Prepaid expenses and other assets Level 3 $ 10,298 $ 4,115 Derivative liabilities Accrued expenses and other liabilities Level 2 $ 758 $ 3,807 (1) The unobservable inputs used in the valuation of the mortgage servicing rights include mortgage prepayment rates, discount rates and delinquency rates, which were 9.0 %, 9.8 %, and 0.3 %, respectively as of June 30, 2021, and 10.4 %, 9.8 %, and 0.6 %, respectively, as of December 31, 2020. The high and low end of the range of unobservable inputs used in the valuation did not result in a significant change to the fair value measurement. The following table represents the reconciliation of the beginning and ending balance for the Level 3 recurring fair value measurements: Three Months Ended June 30, Six Months Ended June 30, Mortgage servicing rights: 2021 2020 2021 2020 Beginning of period $ 8,249 $ — $ 4,115 $ — Originations 2,500 — 6,382 — Disposals/settlements ( 143 ) — ( 270 ) — Changes in fair value ( 308 ) — 71 — End of period $ 10,298 $ — $ 10,298 $ — Three Months Ended June 30, Six Months Ended June 30, Mortgage loans held-for-investment 2021 2020 2021 2020 Beginning of period $ 10,078 $ 6,387 $ 8,727 $ 3,385 Originations 1,981 1,209 3,381 4,646 Disposals/settlements ( 1,180 ) ( 754 ) ( 1,180 ) ( 1,173 ) Reduction in unpaid principal balance ( 56 ) ( 29 ) ( 105 ) ( 45 ) Changes in fair value — — — — End of period $ 10,823 $ 6,813 $ 10,823 $ 6,813 For the financial assets and liabilities that the Company does not reflect at fair value, the following present both their respective carrying value and fair value at June 30, 2021 and December 31, 2020, respectively. June 30, 2021 December 31, 2020 Hierarchy Carrying Fair Value Carrying Fair Value Cash and cash equivalents Level 1 $ 419,416 $ 419,416 $ 394,001 $ 394,001 Secured notes receivable (1) Level 2 $ 2,380 $ 2,380 $ 2,434 $ 2,448 5.875 % senior notes (2)(3) Level 2 $ 397,170 $ 412,500 $ 396,821 $ 417,500 6.750 % senior notes (2)(3) Level 2 $ 495,176 $ 530,000 $ 494,768 $ 533,750 Revolving line of credit (4) Level 2 $ — $ — $ — $ — Other financing obligations (4)(5) Level 3 $ 8,908 $ 8,908 $ 3,286 $ 3,286 Mortgage repurchase facilities (4) Level 2 $ 159,776 $ 159,776 $ 259,050 $ 259,050 (1) During the second quarter of 2021, the maturity of the secured note receivable was extended by two months to July of 2021, and the secured note receivable was paid in full in July 2021. Carrying amount approximates fair value due to short-term nature. (2) Estimated fair value of the senior notes is based on recent trading activity in inactive markets. (3) Carrying amounts include any associated unamortized deferred financing costs, premiums and discounts. As of June 30, 2021, these amounts totaled $ 4.8 million and $ 2.8 million for the 6.750 % senior notes and 5.875 % senior notes, respectively. As of December 31, 2020, these amounts totaled $ 5.2 million and $ 3.2 million for the 6.750 % senior notes and 5.875 % senior notes, respectively. (4) Carrying amount approximates fair value due to short-term nature and interest rate terms. (5) Insurance premium notes included in other financing obligations bore interest rates ranging from 3.200 % 3.240 % during the periods ended June 30, 2021 and December 31, 2020. Non-financial assets and liabilities include items such as inventory and property and equipment that are measured at fair value when acquired and as a result of impairments, if deemed necessary. Nominal impairment charges were recorded in the three and six months ended June 30, 2021. During the three and six months ended June 30, 2020, we recognized impairment charges of $ 0.9 million and $ 1.7 million, respectively. The estimated fair value of the communities were determined through a discounted cash flow approach utilizing Level 3 inputs. Changes in our cash flow projections in future periods related to these communities may change our conclusions on the recoverability of inventory in the future.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2021
Stock-Based Compensation [Abstract]
Stock-Based Compensation	12. Stock-Based Compensation During the six months ended June 30, 2021, we granted restricted stock units (which we refer to as “RSUs”) covering 0.2 million shares of common stock, respectively, with a grant date fair value of $ 53.43 , that primarily vest over a three year period. During the six months ended June 30, 2021, we also granted performance share units (which we refer to as “PSUs”) covering up to 0.2 million shares of common stock, assuming maximum level of performance, with a grant date fair value of $ 58.28 per share. Granted PSUs are subject to both service and performance vesting conditions. The quantity of shares that will ultimately vest for the PSUs ranges from 0 % to 250 % of a targeted number of shares for each participant and will be determined based on an achievement of a three year pre-tax income performance goal. Approximately 0.8 million shares will vest if the defined maximum performance targets are met, and no shares will vest if the defined minimum performance targets are not met. A summary of our outstanding RSUs and PSUs, assuming current estimated level of performance achievement, are as follows (in thousands, except years): As of June 30, 2021 Unvested units 1,123 Unrecognized compensation cost $ 24,071 Weighted-average period to recognize compensation cost 2.0 years During the three months ended June 30, 2021 and 2020, we recognized stock-based compensation expense of $ 4.2 million and $ 6.9 million, respectively. During the six months ended June 30, 2021 and 2020, we recognized stock-based compensation expense of $ 7.2 million and $ 8.6 million, respectively. Stock-based compensation expense is included in selling, general, and administrative expense on our condensed consolidated statements of operations. During the three months ended June 30, 2020, we updated our recognition of stock-based compensation expense associated with previously granted PSU awards to reflect probable financial results as they relate to the performance goals of the awards. Accordingly, our estimate of the number of shares which will ultimately vest under our PSU awards increased by 0.2 million, and we recorded a cumulative catch-up adjustment to increase stock-based compensation expense of $ 2.9 million ($ 2.2 million net of tax), or $ 0.07 per share (basic and diluted) for the three months ended June 30, 2020.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity [Abstract]
Stockholders' Equity	13. Stockholders’ Equity 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, 2021, and December 31, 2020 there were 33.8 million and 33.4 million shares of common stock issued and outstanding, respectively, and no shares of preferred stock outstanding. On May 10, 2017, our stockholders approved the adoption of the Century Communities, Inc. 2017 Omnibus Incentive Plan (which we refer to as our “2017 Incentive Plan”), which replaced our First Amended & Restated 2013 Long-Term Incentive Plan. 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 approximately 0.6 million shares rolled over into the 2017 Incentive Plan when it became effective. On May 8, 2019, our stockholders approved the Century Communities, Inc. Amended and Restated 2017 Omnibus Incentive Plan (which we refer to as our “Amended 2017 Incentive Plan”), which increased the number of shares of our common stock authorized for issuance under the 2017 Incentive Plan by an additional 1.631 million shares. We issued 0.7 million and 0.5 million shares of common stock related to the vesting of RSUs during the six months ended June 30, 2021 and 2020, respectively. As of June 30, 2021, approximately 0.7 million shares of common stock remained available for issuance under the Amended 2017 Incentive Plan. On November 27, 2019, we entered into a Distribution Agreement with J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., and Fifth Third Securities, Inc. (which we refer to as the “Distribution Agreement”), as sales agents pursuant to which we may offer and sell shares of our common stock having an aggregate offering price of up to $ 100.0 million from time to time through any of the sales agents party thereto in “at-the-market” offerings, in accordance with the terms and conditions set forth in the Distribution Agreement. This Distribution Agreement, which superseded and replaced a prior similar distribution agreement, had all $ 100.0 million available for sale as of June 30, 2021. We did no t sell or issue any shares of our common stock during the three and six months ended June 30, 2021 and 2020, respectively. The Distribution Agreement will remain in full force and effect until terminated by either party pursuant to the terms of the agreement or such date that the maximum offering amount has been sold in accordance with the terms of the agreement . Sales cannot be made under the Distribution Agreement unless and until we file a prospectus supplement to our recently filed shelf registration statement that was filed on July 1, 2021, which prospectus supplement we intend to file in the near future. On November 6, 2018, we authorized a stock repurchase program, under which we may repurchase up to 4,500,000 shares of our outstanding common stock. During the three and six months ended June 30, 2021 and 2020, we did not repurchase any shares of common stock. The maximum number of shares available to be purchased under the stock repurchase program as of June 30, 2021 was 3,812,939 shares. On May 19, 2021, our Board of Directors announced the approval of the initiation of a quarterly cash dividend. Additionally, on May 19, 2021 , our Board of Directors declared our first quarterly cash dividend of $ 0.15 per share and totaling $ 5.1 million, which was paid on June 16, 2021 to stockholders of record of our common stock as of June 2, 2021 .

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	14. Earnings Per Share We use the treasury stock method to calculate earnings per share as our currently issued non-vested RSUs and PSUs 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, 2021 and 2020 (in thousands, except share and per share information): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator Net income $ 117,910 $ 38,450 $ 219,562 $ 64,576 Denominator Weighted average common shares outstanding - basic 33,738,586 33,340,184 33,651,727 33,274,056 Dilutive effect of restricted stock units 218,052 121,510 269,212 195,013 Weighted average common shares outstanding - diluted 33,956,638 33,461,694 33,920,939 33,469,069 Earnings per share: Basic $ 3.49 $ 1.15 $ 6.52 $ 1.94 Diluted $ 3.47 $ 1.15 $ 6.47 $ 1.93 Stock-based awards are excluded from the calculation of diluted EPS in the event they are subject to unsatisfied performance conditions or are antidilutive. We excluded 0.8 million common stock unit equivalents from diluted earnings per share during each of the three and six months ended June 30, 2021 and 2020 related to the PSUs for which performance conditions remained unsatisfied.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies Letters of Credit and Performance Bonds In the normal course of business, we post letters of credit and performance and other bonds primarily related to our land development performance obligations with local municipalities. As of June 30, 2021, and December 31, 2020, we had $ 464.6 million and $ 402.7 million, respectively, in letters of credit and performance and other bonds issued and outstanding. Legal Proceedings We are subject to claims and lawsuits that arise primarily in the ordinary course of business, which consist primarily of construction 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 the 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 expense on our condensed consolidated statements of operations for our estimated loss. Under various insurance policies, we have the ability to recoup costs in excess of applicable self-insured retentions. Estimates of such amounts are recorded in other assets on our condensed consolidated balance sheet when recovery is probable. 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 flows.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	6 Months Ended
	Jun. 30, 2021
Basis of Presentation [Abstract]
Basis of Presentation	Century Communities, Inc. (which we refer to as “we,” “CCS,” or the “Company”), together with its subsidiaries, is engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in 17 states. In many of our projects, in addition to building homes, we are responsible for the entitlement and development of the underlying land. We build and sell homes under our Century Communities and Century Complete brands. Our Century Communities brand targets a wide range of buyer profiles including: entry-level, first and second time move-up, and lifestyle homebuyers, and provides our homebuyers with the ability to personalize their homes through certain option and upgrade opportunities. Our Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the internet, and generally provides no option or upgrade opportunities. Our homebuilding operations are organized into the following five reportable segments: West, Mountain, Texas, Southeast, and Century Complete. Additionally, our indirect wholly-owned subsidiaries, Inspire Home Loans Inc., Parkway Title, LLC, and IHL Home Insurance Agency, LLC, which provide mortgage, title, and insurance services, respectively, primarily to our homebuyers, have been identified as our Financial Services segment. 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”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (which we refer to as the “SEC”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation of our financial position and results of operations for the periods presented. 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, 2020, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 that was filed with the SEC on February 5, 2021.
Principles of Consolidation	Principles of Consolidation The condensed 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. We currently do not have any variable interest entities in which we are deemed 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 Adopted Accounting Standards	Recently Adopted Accounting Standards Income Taxes In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, “ Income Taxes (Topic 740) : Simplifying the Accounting for Income Taxes” (“ASU 2019-12”). The standard simplifies the accounting for income taxes, eliminates certain exceptions, and clarifies certain aspects of ASC 740 to promote consistency among reporting entities. We adopted this standard on January 1, 2021 with no material effect on the condensed consolidated financial statements and related disclosures.

Reporting Segments (Tables)

Reporting Segments (Tables)	6 Months Ended
	Jun. 30, 2021
Reporting Segments [Abstract]
Schedule of Total Revenue and Pretax Income by Segment	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Revenue: West $ 237,367 $ 166,125 $ 423,193 $ 298,012 Mountain 295,001 177,569 600,314 348,721 Texas 132,789 98,678 220,524 158,842 Southeast 168,519 174,626 388,925 306,128 Century Complete 179,371 133,724 355,040 231,833 Financial Services 29,865 25,722 63,485 35,517 Corporate — — — — Total revenue $ 1,042,912 $ 776,444 $ 2,051,481 $ 1,379,053 Income (loss) before income tax expense: West $ 40,903 $ 13,747 $ 68,364 $ 29,089 Mountain 55,814 20,616 107,794 39,094 Texas 19,139 9,610 27,670 15,108 Southeast 26,096 12,020 49,536 20,329 Century Complete 23,089 8,548 44,819 9,333 Financial Services 11,697 12,978 27,016 13,187 Corporate ( 24,604 ) ( 27,416 ) ( 42,016 ) ( 41,949 ) Total income before income tax expense $ 152,134 $ 50,103 $ 283,183 $ 84,191
Schedule of Total Assets by Segment	June 30, December 31, 2021 2020 West $ 611,192 $ 536,907 Mountain 803,816 778,198 Texas 238,221 207,746 Southeast 279,101 329,930 Century Complete 284,838 218,604 Financial Services 333,109 421,153 Corporate 343,976 352,555 Total assets $ 2,894,253 $ 2,845,093

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2021
Inventories [Abstract]
Schedule of Inventories	June 30, December 31, 2021 2020 Homes under construction $ 1,156,881 $ 1,040,584 Land and land development 737,727 828,242 Capitalized interest 54,161 60,838 Total inventories $ 1,948,769 $ 1,929,664

Prepaid Expenses and Other As_2

Prepaid Expenses and Other Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Prepaid Expenses and Other Assets [Abstract]
Schedule of Prepaid Expenses and Other Assets	June 30, December 31, 2021 2020 Prepaid insurance $ 22,060 $ 18,699 Lot option and escrow deposits 52,749 39,985 Performance deposits 10,104 9,372 Deferred financing costs on revolving line of credit, net 5,727 3,206 Restricted cash (1) 5,259 4,080 Secured note receivable 2,380 2,434 Right of use assets 14,012 16,175 Other assets and prepaid expenses 8,327 8,082 Mortgage loans held for investment 10,823 8,727 Derivative assets and mortgage servicing rights 15,843 11,870 Total prepaid expenses and other assets $ 147,284 $ 122,630 (1) Restricted cash consists of earnest money deposits for home sale contracts held by third parties as required by various jurisdictions, and certain pledge balances associated with our mortgage repurchase facilities.

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Accrued Expenses and Other Liabilities [Abstract]
Schedule of Accrued Expenses and Other Liabilities	June 30, December 31, 2021 2020 Earnest money deposits $ 42,114 $ 30,578 Warranty reserve 13,862 13,824 Accrued compensation costs 51,842 60,692 Land development and home construction accruals 81,381 80,088 Liability for product financing arrangements 19,808 62,084 Accrued interest 13,649 13,649 Lease liabilities - operating leases 14,551 16,801 Income taxes payable — 3,118 Derivative liabilities 758 3,807 Other accrued liabilities 25,991 18,110 Total accrued expenses and other liabilities $ 263,956 $ 302,751

Warranties (Tables)

Warranties (Tables)	6 Months Ended
	Jun. 30, 2021
Warranties [Abstract]
Schedule of Changes in Warranty Accrual	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Beginning balance $ 13,480 $ 9,727 $ 13,824 $ 9,731 Warranty expense provisions 2,382 2,274 4,680 4,051 Payments ( 1,605 ) ( 612 ) ( 2,444 ) ( 1,301 ) Warranty adjustment ( 395 ) ( 168 ) ( 2,198 ) ( 1,260 ) Ending balance $ 13,862 $ 11,221 $ 13,862 $ 11,221

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt [Abstract]
Schedule of Outstanding Debt Obligations	June 30, December 31, 2021 2020 6.750 % senior notes, due May 2027 (1) $ 495,176 $ 494,768 5.875 % senior notes, due July 2025 (1) 397,170 396,821 Other financing obligations 8,908 3,286 Notes payable 901,254 894,875 Revolving line of credit — — Mortgage repurchase facilities 159,776 259,050 Total debt $ 1,061,030 $ 1,153,925 (1) The carrying value of senior notes reflects the impact of premiums, discounts, and issuance costs that are amortized to interest expense over the respective terms of the senior notes.

Interest (Tables)

Interest (Tables)	6 Months Ended
	Jun. 30, 2021
Interest [Abstract]
Schedule of Capitalized Interest Costs	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Interest capitalized beginning of period $ 57,509 $ 70,837 $ 60,838 $ 67,069 Interest capitalized during period 15,058 18,168 30,106 35,621 Less: capitalized interest in cost of sales ( 18,406 ) ( 18,694 ) ( 36,783 ) ( 32,379 ) Interest capitalized end of period $ 54,161 $ 70,311 $ 54,161 $ 70,311

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	June 30, December 31, Balance Sheet Classification Hierarchy 2021 2020 Mortgage loans held for sale Mortgage loans held for sale Level 2 $ 235,712 $ 282,639 Mortgage loans held for investment Prepaid expenses and other assets Level 3 $ 10,823 $ 8,727 Derivative assets Prepaid expenses and other assets Level 2 $ 5,545 $ 7,755 Mortgage servicing rights (1) Prepaid expenses and other assets Level 3 $ 10,298 $ 4,115 Derivative liabilities Accrued expenses and other liabilities Level 2 $ 758 $ 3,807 (1) The unobservable inputs used in the valuation of the mortgage servicing rights include mortgage prepayment rates, discount rates and delinquency rates, which were 9.0 %, 9.8 %, and 0.3 %, respectively as of June 30, 2021, and 10.4 %, 9.8 %, and 0.6 %, respectively, as of December 31, 2020. The high and low end of the range of unobservable inputs used in the valuation did not result in a significant change to the fair value measurement.
Schedule of Reconciliation of Level 3 Recurring at Fair Value	Three Months Ended June 30, Six Months Ended June 30, Mortgage servicing rights: 2021 2020 2021 2020 Beginning of period $ 8,249 $ — $ 4,115 $ — Originations 2,500 — 6,382 — Disposals/settlements ( 143 ) — ( 270 ) — Changes in fair value ( 308 ) — 71 — End of period $ 10,298 $ — $ 10,298 $ — Three Months Ended June 30, Six Months Ended June 30, Mortgage loans held-for-investment 2021 2020 2021 2020 Beginning of period $ 10,078 $ 6,387 $ 8,727 $ 3,385 Originations 1,981 1,209 3,381 4,646 Disposals/settlements ( 1,180 ) ( 754 ) ( 1,180 ) ( 1,173 ) Reduction in unpaid principal balance ( 56 ) ( 29 ) ( 105 ) ( 45 ) Changes in fair value — — — — End of period $ 10,823 $ 6,813 $ 10,823 $ 6,813
Schedule of Carrying Values and Fair Values of Financial Instruments	June 30, 2021 December 31, 2020 Hierarchy Carrying Fair Value Carrying Fair Value Cash and cash equivalents Level 1 $ 419,416 $ 419,416 $ 394,001 $ 394,001 Secured notes receivable (1) Level 2 $ 2,380 $ 2,380 $ 2,434 $ 2,448 5.875 % senior notes (2)(3) Level 2 $ 397,170 $ 412,500 $ 396,821 $ 417,500 6.750 % senior notes (2)(3) Level 2 $ 495,176 $ 530,000 $ 494,768 $ 533,750 Revolving line of credit (4) Level 2 $ — $ — $ — $ — Other financing obligations (4)(5) Level 3 $ 8,908 $ 8,908 $ 3,286 $ 3,286 Mortgage repurchase facilities (4) Level 2 $ 159,776 $ 159,776 $ 259,050 $ 259,050 (1) During the second quarter of 2021, the maturity of the secured note receivable was extended by two months to July of 2021, and the secured note receivable was paid in full in July 2021. Carrying amount approximates fair value due to short-term nature. (2) Estimated fair value of the senior notes is based on recent trading activity in inactive markets. (3) Carrying amounts include any associated unamortized deferred financing costs, premiums and discounts. As of June 30, 2021, these amounts totaled $ 4.8 million and $ 2.8 million for the 6.750 % senior notes and 5.875 % senior notes, respectively. As of December 31, 2020, these amounts totaled $ 5.2 million and $ 3.2 million for the 6.750 % senior notes and 5.875 % senior notes, respectively. (4) Carrying amount approximates fair value due to short-term nature and interest rate terms. (5) Insurance premium notes included in other financing obligations bore interest rates ranging from 3.200 % 3.240 % during the periods ended June 30, 2021 and December 31, 2020.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Stock-Based Compensation [Abstract]
Summary of Outstanding RSUs and PSUs	As of June 30, 2021 Unvested units 1,123 Unrecognized compensation cost $ 24,071 Weighted-average period to recognize compensation cost 2.0 years

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator Net income $ 117,910 $ 38,450 $ 219,562 $ 64,576 Denominator Weighted average common shares outstanding - basic 33,738,586 33,340,184 33,651,727 33,274,056 Dilutive effect of restricted stock units 218,052 121,510 269,212 195,013 Weighted average common shares outstanding - diluted 33,956,638 33,461,694 33,920,939 33,469,069 Earnings per share: Basic $ 3.49 $ 1.15 $ 6.52 $ 1.94 Diluted $ 3.47 $ 1.15 $ 6.47 $ 1.93

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details)	6 Months Ended
	Jun. 30, 2021segmentstate
Basis of Presentation [Abstract]
Number of operating states | state	17
Number of reportable segments | segment	5

Reporting Segments (Narrative)

Reporting Segments (Narrative) (Details)	6 Months Ended
	Jun. 30, 2021segmentstateregion
Segment Reporting Information [Line Items]
Number of operating states	17
Number of reportable segments | segment	5
Century Complete [Member]
Segment Reporting Information [Line Items]
Number of operating states	11
Number of operating regions | region	4

Reporting Segments (Schedule of

Reporting Segments (Schedule of Total Revenue and Pretax Income by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Total revenue	$ 1,042,912	$ 776,444	$ 2,051,481	$ 1,379,053
Total income before income tax expense	152,134	50,103	283,183	84,191
West [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	237,367	166,125	423,193	298,012
Total income before income tax expense	40,903	13,747	68,364	29,089
Mountain [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	295,001	177,569	600,314	348,721
Total income before income tax expense	55,814	20,616	107,794	39,094
Texas [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	132,789	98,678	220,524	158,842
Total income before income tax expense	19,139	9,610	27,670	15,108
Southeast [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	168,519	174,626	388,925	306,128
Total income before income tax expense	26,096	12,020	49,536	20,329
Century Complete [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	179,371	133,724	355,040	231,833
Total income before income tax expense	23,089	8,548	44,819	9,333
Financial Services [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	29,865	25,722	63,485	35,517
Total income before income tax expense	11,697	12,978	27,016	13,187
Corporate [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total income before income tax expense	$ (24,604)	$ (27,416)	$ (42,016)	$ (41,949)

Reporting Segments (Schedule _2

Reporting Segments (Schedule of Total Assets by Segment) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total assets	$ 2,894,253	$ 2,845,093
West [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	611,192	536,907
Mountain [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	803,816	778,198
Texas [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	238,221	207,746
Southeast [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	279,101	329,930
Century Complete [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	284,838	218,604
Financial Services [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	333,109	421,153
Corporate [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	$ 343,976	$ 352,555

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Inventories [Abstract]
Homes under construction	$ 1,156,881		$ 1,040,584
Land and land development	737,727		828,242
Capitalized interest	54,161	$ 57,509	60,838	$ 70,311	$ 70,837	$ 67,069
Total inventories	$ 1,948,769		$ 1,929,664

Financial Services (Narrative)

Financial Services (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Financial Services [Line Items]
Mortgage loans in process	$ 148,700		$ 148,700		$ 172,300
Mortgage loans held for sale	235,712		235,712		282,639
Mortgage loans held for sale aggregate outstanding principal balance	226,900		226,900		$ 269,600
Realized net gains from the sale of mortgages	$ 23,900	$ 16,100	$ 46,800	$ 27,600
Weighted Average [Member]
Financial Services [Line Items]
Interest rate	3.20%		3.20%		2.80%

Prepaid Expenses and Other As_3

Prepaid Expenses and Other Assets (Schedule of Prepaid Expenses and Other Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Prepaid Expenses and Other Assets [Abstract]
Prepaid insurance	$ 22,060	$ 18,699
Lot option and escrow deposits	52,749	39,985
Performance deposits	10,104	9,372
Deferred financing costs on revolving line of credit, net	5,727	3,206
Restricted cash	5,259	4,080
Secured note receivable	2,380	2,434
Right of use assets	14,012	16,175
Other assets and prepaid expenses	8,327	8,082
Mortgage loans held for investment	10,823	8,727
Derivative assets and mortgage servicing rights	15,843	11,870
Total prepaid expenses and other assets	$ 147,284	$ 122,630

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Schedule of Accrued Expenses and Other Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Accrued Expenses and Other Liabilities [Abstract]
Earnest money deposits	$ 42,114		$ 30,578
Warranty reserve	13,862	$ 13,480	13,824	$ 11,221	$ 9,727	$ 9,731
Accrued compensation costs	51,842		60,692
Land development and home construction accruals	81,381		80,088
Liability for product financing arrangements	19,808		62,084
Accrued interest	13,649		13,649
Lease liabilities - operating leases	14,551		16,801
Income taxes payable			3,118
Derivative liabilities	758		3,807
Other accrued liabilities	25,991		18,110
Total accrued expenses and other liabilities	$ 263,956		$ 302,751

Warranties (Narrative) (Details

Warranties (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Warranties [Abstract]
Warranty reserve adjustment	$ (395)	$ (168)	$ (2,198)	$ (1,260)

Warranties (Schedule of Changes

Warranties (Schedule of Changes in Warranty Accrual) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Warranties [Abstract]
Beginning balance	$ 13,480	$ 9,727	$ 13,824	$ 9,731
Warranty expense provisions	2,382	2,274	4,680	4,051
Payments	(1,605)	(612)	(2,444)	(1,301)
Warranty adjustment	(395)	(168)	(2,198)	(1,260)
Ending balance	$ 13,862	$ 11,221	$ 13,862	$ 11,221

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	May 21, 2021	Jun. 05, 2018	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Line of credit facility, outstanding amount
Mortgage repurchase facilities			159,776,000		159,776,000		259,050,000
Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Mortgage repurchase facilities			159,800,000		159,800,000		259,100,000
Incurred interest expense			600,000	$ 500,000	1,400,000	$ 1,300,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, outstanding amount			$ 0		$ 0		$ 0
Inspire [Member] | Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Weighted average interest rate			2.38%		2.38%
Maximum [Member] | Inspire [Member] | Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Maturity date					Jun. 21, 2022
Line of credit facility. maximum borrowing capacity			$ 350,000,000		$ 350,000,000
Amended And Restated Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maturity date		Apr. 30, 2023
Line of credit facility. maximum borrowing capacity		$ 640,000,000
Second Amended And Restated Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maturity date	Apr. 30, 2026
Line of credit facility. maximum borrowing capacity	$ 800,000,000
Letter of credit sublimit	250,000,000
Second Amended And Restated Credit Agreement [Member] | Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, increased amount	$ 200,000,000
Second Amended And Restated Credit Agreement [Member] | Eurodollar Rate [Member] | Minimum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate					2.05%
Second Amended And Restated Credit Agreement [Member] | Eurodollar Rate [Member] | Maximum [Member] | Texas Capital Bank [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate					2.65%
Second Amended And Restated Credit Agreement [Member] | Base Rate [Member] | Minimum [Member] | Texas Capital Bank [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate					1.05%
Second Amended And Restated Credit Agreement [Member] | Base Rate [Member] | Maximum [Member] | Texas Capital Bank [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate					1.65%

Debt (Schedule of Outstanding D

Debt (Schedule of Outstanding Debt Obligations) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Notes payable	$ 901,254	$ 894,875
Revolving line of credit
Mortgage repurchase facilities	159,776	259,050
Total debt	1,061,030	1,153,925
Senior Notes 6.750% Due May 2027 [Member]
Debt Instrument [Line Items]
Notes payable	$ 495,176	494,768
Interest rate	6.75%
Maturity date	2027-05
Senior Notes 5.875% Due July 2025 [Member]
Debt Instrument [Line Items]
Notes payable	$ 397,170	396,821
Interest rate	5.875%
Maturity date	2025-07
Other Financing Obligations [Member]
Debt Instrument [Line Items]
Notes payable	$ 8,908	$ 3,286

Interest (Schedule of Capitaliz

Interest (Schedule of Capitalized Interest Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Interest [Abstract]
Interest capitalized beginning of period	$ 57,509	$ 70,837	$ 60,838	$ 67,069
Interest capitalized during period	15,058	18,168	30,106	35,621
Less: capitalized interest in cost of sales	(18,406)	(18,694)	(36,783)	(32,379)
Interest capitalized end of period	$ 54,161	$ 70,311	$ 54,161	$ 70,311

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2021
Income Tax Examination [Line Items]
Effective tax rate			23.50%
Percentage of decrease related to rate impacted by discrete items			1.00%
Income tax expense	$ 34,224	$ 11,653	$ 63,621	$ 19,615
Forecast [Member]
Income Tax Examination [Line Items]
Effective tax rate					23.50%
Blended federal and state statutary rate					24.70%
Decreased to effective tax rate					1.20%

Fair Value Disclosures (Narrati

Fair Value Disclosures (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Impairment charge	$ 41	$ 910	$ 41	$ 1,691

Fair Value Disclosures (Schedul

Fair Value Disclosures (Schedule of Assets and Liabilities Measured at Fair Value) (Details) $ in Thousands	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans held for sale	$ 235,712	$ 282,639
Derivative liabilities	$ 758	$ 3,807
Prepayment Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage servicing right rates	9	10.4
Discount Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage servicing right rates	9.8	9.8
Delinquency Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage servicing right rates	0.3	0.6
Level 2 [Member] | Recurring [Member] | Mortgage Loan Held For Sale [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans held for sale	$ 235,712	$ 282,639
Level 2 [Member] | Recurring [Member] | Prepaid Expenses And Other Assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	5,545	7,755
Level 2 [Member] | Recurring [Member] | Accrued Expenses And Other Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities	758	3,807
Level 3 [Member] | Recurring [Member] | Prepaid Expenses And Other Assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans held for investment	10,823	8,727
Mortgage servicing rights	$ 10,298	$ 4,115

Fair Value Disclosures (Sched_2

Fair Value Disclosures (Schedule of Reconciliation of Level 3 Recurring at Fair Value) (Details) - Level 3 [Member] - Recurring [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Mortgage Servicing Rights [Member]
Servicing Assets at Fair Value [Line Items]
Beginning of period	$ 8,249		$ 4,115
Originations	2,500		6,382
Disposals/settlements	(143)		(270)
Changes in fair value	(308)		71
End of period	10,298		10,298
Mortgage Loans Held For Investment [Member]
Servicing Assets at Fair Value [Line Items]
Beginning of period	10,078	6,387	8,727	3,385
Originations	1,981	1,209	3,381	4,646
Disposals/settlements	(1,180)	(754)	(1,180)	(1,173)
Reduction in unpaid principal balance	(56)	(29)	(105)	(45)
Changes in fair value
End of period	$ 10,823	$ 6,813	$ 10,823	$ 6,813

Fair Value Disclosures (Sched_3

Fair Value Disclosures (Schedule of Carrying Values and Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 419,416	$ 394,001	$ 173,521
Secured notes receivable	2,380	2,434
Senior notes	901,254	894,875
Revolving line of credit
Mortgage repurchase facilities	159,776	259,050
Senior Notes 5.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amounts include unamortized deferred financing costs, premiums and discounts	$ 2,800	$ 3,200
Interest rate	5.875%	5.875%
Senior Notes 6.750% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amounts include unamortized deferred financing costs, premiums and discounts	$ 4,800	$ 5,200
Interest rate	6.75%	6.75%
Level 1 [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 419,416	$ 394,001
Level 1 [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	419,416	394,001
Level 2 [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured notes receivable	2,380	2,434
Revolving line of credit
Mortgage repurchase facilities	159,776	259,050
Level 2 [Member] | Carrying Value [Member] | Senior Notes 5.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	397,170	396,821
Level 2 [Member] | Carrying Value [Member] | Senior Notes 6.750% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	495,176	494,768
Level 2 [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured notes receivable	2,380	2,448
Revolving line of credit
Mortgage repurchase facilities	159,776	259,050
Level 2 [Member] | Fair Value [Member] | Senior Notes 5.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	412,500	417,500
Level 2 [Member] | Fair Value [Member] | Senior Notes 6.750% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	530,000	533,750
Level 3 [Member] | Carrying Value [Member] | Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	8,908	3,286
Level 3 [Member] | Fair Value [Member] | Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 8,908	$ 3,286
Minimum [Member] | Insurance Premium Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	3.20%	3.20%
Maximum [Member] | Insurance Premium Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	3.24%	3.24%

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 4.2	$ 6.9	$ 7.2	$ 8.6
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			0.2
Shares of common stock granted			0.2
Grant date fair value			$ 53.43
Awards vesting period			3 years
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			0.2
Shares of common stock granted			0.2
Grant date fair value			$ 58.28
Awards vesting period			3 years	3 years
Shares will vest if defined maximum performance targets are met			0.8
Shares will vest if defined maximum performance targets are not met			0
Shares increased		0.2
Cumulative catch-up adjustment		$ 2.9
Cumulative catch-up adjustment, net of tax		$ 2.2
Earnings per share, basic and diluted		$ 0.07
Performance Share Units [Member] | Tranche One [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target range			0.00%	0.00%
Performance Share Units [Member] | Tranche Two [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target range			250.00%	250.00%

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Outstanding RSUs and PSUs) (Details) - RSUs And PSUs [Member] shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested units | shares	1,123
Unrecognized compensation cost | $	$ 24,071
Weighted-average period to recognize compensation cost	2 years

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	May 19, 2021	Nov. 27, 2019	May 08, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Nov. 06, 2018	May 10, 2017
Class of Stock [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				33,760,940		33,760,940		33,350,633
Common stock shares outstanding				33,760,940		33,760,940		33,350,633
Preferred stock shares outstanding				0		0		0
Shares authorized to be repurchased									4,500,000
Dividends, date declared	May 19, 2021
Cash dividends declared per share	$ 0.15
Cash dividends declared	$ 5,100			$ 5,065		$ 5,065
Dividends, date to be paid	Jun. 16, 2021
Dividends, date of record	Jun. 2, 2021
Maximum [Member]
Class of Stock [Line Items]
Shares available to be purchased				3,812,939		3,812,939
First Amended And Restated 2013 Long-Term Incentive Plan [Member]
Class of Stock [Line Items]
Common stock shares for stock award issuance										1,800,000
2017 Incentive Plan [Member]
Class of Stock [Line Items]
Common stock shares rolled into plan										600,000
Amended 2017 Incentive Plan [Member]
Class of Stock [Line Items]
Additional shares authorized			1,631,000
Common stock shares for stock award, available for issuance				700,000		700,000
Vesting of restricted stock units, shares						700,000	500,000
Distribution Agreement [Member]
Class of Stock [Line Items]
Aggregate offering price		$ 100,000
Available for sale				$ 100,000		$ 100,000
Common stock shares sold and issued				0	0	0	0

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Anti-dilutive shares related to PSU's granted	0.8	0.8	0.8	0.8

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator
Net income	$ 117,910	$ 38,450	$ 219,562	$ 64,576
Denominator
Weighted average common shares outstanding - basic	33,738,586	33,340,184	33,651,727	33,274,056
Dilutive effect of restricted stock units	218,052	121,510	269,212	195,013
Weighted average common shares outstanding - diluted	33,956,638	33,461,694	33,920,939	33,469,069
Earnings per share:
Basic	$ 3.49	$ 1.15	$ 6.52	$ 1.94
Diluted	$ 3.47	$ 1.15	$ 6.47	$ 1.93

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Commitments and Contingencies [Abstract]
Outstanding letters of credit and performance bonds	$ 464.6	$ 402.7