Dream Finders Homes (DFH) 10-Q 3 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 03, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-39916
Entity Registrant Name	DREAM FINDERS HOMES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-2983036
Entity Address, Address Line One	14701 Philips Highway
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Jacksonville
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32256
City Area Code	904
Local Phone Number	644-7670
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Trading Symbol	DFH
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001825088
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		32,882,124
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		60,226,153

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 292,510	$ 364,531
Restricted cash	33,081	30,599
Accounts receivable (VIE amounts of $590 and $580)	31,433	43,490
Inventories:
Construction in process and finished homes	1,212,289	1,175,107
Company owned land and lots	203,932	196,563
VIE owned land and lots	1,037	6,515
Total inventories	1,417,258	1,378,185
Lot deposits	247,903	277,258
Other assets (VIE amounts of $2,238 and $1,877)	50,315	59,438
Investments in unconsolidated entities	13,948	14,008
Property and equipment, net	7,948	7,337
Operating lease right-of-use assets	21,624	24,084
Goodwill	172,207	172,207
Total assets	2,288,227	2,371,137
Liabilities
Accounts payable (VIE amounts of $15 and $353)	124,185	134,702
Accrued expenses (VIE amounts of $2,575 and $4,434)	89,854	184,051
Customer deposits	163,237	145,654
Construction lines of credit	875,672	966,248
Operating lease liabilities	22,300	24,661
Contingent consideration	93,500	115,128
Total liabilities	1,368,748	1,570,444
Commitments and contingencies (Note 4)
Mezzanine Equity
Preferred mezzanine equity	156,479	156,045
Stockholders’ Equity
Additional paid-in capital	270,905	264,757
Retained earnings	476,663	365,994
Noncontrolling interests	14,501	12,970
Total mezzanine and stockholders’ equity	919,479	800,693
Total liabilities, mezzanine equity and stockholders’ equity	2,288,227	2,371,137
Variable Interest Entity, Primary Beneficiary
Assets
Restricted cash	9,312	4,372
Accounts receivable (VIE amounts of $590 and $580)	590	580
Inventories:
Other assets (VIE amounts of $2,238 and $1,877)	2,238	1,877
Liabilities
Accounts payable (VIE amounts of $15 and $353)	15	353
Accrued expenses (VIE amounts of $2,575 and $4,434)	2,575	4,434
Class A Common Stock
Stockholders’ Equity
Common stock, value	329	325
Class B Common Stock
Stockholders’ Equity
Common stock, value	$ 602	$ 602

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Reconciliation of cash, cash equivalents and restricted cash	$ 33,081	$ 30,599
Accounts receivable	31,433	43,490
Other assets	50,315	59,438
Liabilities
Accounts payable	124,185	134,702
Accrued liabilities	$ 89,854	$ 184,051
Class A Common Stock | Common Stock
Stockholders’ Equity
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized (in shares)	289,000,000	289,000,000
Common stock shares outstanding (in shares)	32,882,124	32,533,883
Class B Common Stock | Common Stock
Stockholders’ Equity
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized (in shares)	61,000,000	61,000,000
Common stock shares outstanding (in shares)	60,226,153	60,226,153
Variable Interest Entity, Primary Beneficiary
Assets
Reconciliation of cash, cash equivalents and restricted cash	$ 9,312	$ 4,372
Accounts receivable	590	580
Other assets	2,238	1,877
Liabilities
Accounts payable	15	353
Accrued liabilities	$ 2,575	$ 4,434

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Consolidated revenues	$ 945,339	$ 793,134	$ 1,714,759	$ 1,457,200
Homebuilding cost of sales	762,855	635,422	1,400,199	1,174,290
Selling, general and administrative expense	73,709	66,015	134,470	127,725
Income from unconsolidated entities	(4,704)	(3,334)	(7,662)	(6,294)
Contingent consideration revaluation	18,266	5,042	23,582	9,234
Other (income) expense, net	(635)	291	(1,065)	(665)
Income before taxes	95,848	89,698	165,235	152,910
Income tax expense	(24,206)	(23,327)	(41,842)	(40,205)
Net income	71,642	66,371	123,393	112,705
Comprehensive income	71,642	66,371	123,393	112,705
Net income attributable to noncontrolling interest	(2,878)	(3,747)	(5,540)	(6,365)
Comprehensive income attributable to noncontrolling interest	(2,878)	(3,747)	(5,540)	(6,365)
Net income attributable to Dream Finders Homes, Inc.	68,764	62,624	117,853	106,340
Comprehensive income attributable to Dream Finders Homes, Inc.	$ 68,764	$ 62,624	$ 117,853	$ 106,340
Earnings per share
Basic (in dollars per share)	$ 0.70	$ 0.64	$ 1.19	$ 1.07
Diluted (in dollars per share)	$ 0.65	$ 0.60	$ 1.09	$ 1.02
Weighted-average number of shares
Basic (in shares)	93,108,277	92,758,939	93,025,626	92,758,939
Diluted (in shares)	105,439,519	104,566,243	107,704,859	103,531,560
Homebuilding
Revenues:
Consolidated revenues	$ 942,880	$ 791,230	$ 1,710,356	$ 1,453,703
Other
Revenues:
Consolidated revenues	$ 2,459	$ 1,904	$ 4,403	$ 3,497

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)	Total	Redeemable Preferred Mezzanine	Common Stock Common Stock - Class A	Common Stock Common Stock - Class B	Additional Paid-in Capital	Retained Earnings	Total Non- Controlling Interests
Beginning balance (in shares) at Dec. 31, 2021		157,143
Beginning balance at Dec. 31, 2021		$ 155,220,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Net and comprehensive income		$ 401,000
Ending balance (in shares) at Jun. 30, 2022		157,143
Ending balance at Jun. 30, 2022		$ 155,621,000
Beginning balance (in shares) at Dec. 31, 2021			32,295,329	60,226,153
Beginning balance at Dec. 31, 2021	$ 556,383,000		$ 323,000	$ 602,000	$ 257,963,000	$ 118,194,000	$ 24,081,000
Increase (Decrease) in Partners' Capital [Roll Forward]
Stock-based compensation (in shares)			83,610	153,847
Stock-based compensation	3,244,000				3,244,000
Distributions	(18,390,000)						(18,390,000)
Preferred dividends declared	(6,787,000)					(6,787,000)
Comprehensive income	112,705,000					105,939,000	6,365,000
Net and comprehensive income	112,705,000					105,939,000	6,365,000
Ending Balance (in shares) at Jun. 30, 2022			32,378,939	60,380,000
Ending balance at Jun. 30, 2022	647,155,000		$ 323,000	$ 602,000	261,207,000	217,346,000	12,056,000
Beginning balance (in shares) at Mar. 31, 2022		157,143
Beginning balance at Mar. 31, 2022		$ 155,417,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Net and comprehensive income		$ 204,000
Ending balance (in shares) at Jun. 30, 2022		157,143
Ending balance at Jun. 30, 2022		$ 155,621,000
Beginning balance (in shares) at Mar. 31, 2022			32,295,329	60,226,153
Beginning balance at Mar. 31, 2022	595,792,000		$ 323,000	$ 602,000	259,328,000	158,611,000	21,511,000
Increase (Decrease) in Partners' Capital [Roll Forward]
Stock-based compensation (in shares)			83,610	153,847
Stock-based compensation	1,879,000				1,879,000
Distributions	(13,202,000)						(13,202,000)
Preferred dividends declared	(3,685,000)					(3,685,000)
Comprehensive income	66,371,000					62,420,000	3,747,000
Net and comprehensive income	66,371,000					62,420,000	3,747,000
Ending Balance (in shares) at Jun. 30, 2022			32,378,939	60,380,000
Ending balance at Jun. 30, 2022	647,155,000		$ 323,000	$ 602,000	261,207,000	217,346,000	12,056,000
Beginning balance (in shares) at Dec. 31, 2022		157,143
Beginning balance at Dec. 31, 2022	156,045,000	$ 156,045,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Net and comprehensive income		$ 434,000
Ending balance (in shares) at Jun. 30, 2023		157,143
Ending balance at Jun. 30, 2023	156,479,000	$ 156,479,000
Beginning balance (in shares) at Dec. 31, 2022			32,533,883	60,226,153
Beginning balance at Dec. 31, 2022	800,693,000		$ 325,000	$ 602,000	264,757,000	365,994,000	12,970,000
Increase (Decrease) in Partners' Capital [Roll Forward]
Stock-based compensation	6,474,000				6,474,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	0		$ 4,000		(4,000)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number			371,841
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings			(23,600)
Restricted Stock, Value, Shares Issued Net of Tax Withholdings	(322,000)				(322,000)
Distributions	(4,009,000)						(4,009,000)
Preferred dividends declared	(6,750,000)					(6,750,000)
Comprehensive income	123,393,000					117,419,000	5,540,000
Net and comprehensive income	123,393,000					117,419,000	5,540,000
Ending Balance (in shares) at Jun. 30, 2023			32,882,124	60,226,153
Ending balance at Jun. 30, 2023	919,479,000		$ 329,000	$ 602,000	270,905,000	476,663,000	14,501,000
Beginning balance (in shares) at Mar. 31, 2023		157,143
Beginning balance at Mar. 31, 2023		$ 156,259,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Net and comprehensive income		$ 220,000
Ending balance (in shares) at Jun. 30, 2023		157,143
Ending balance at Jun. 30, 2023	156,479,000	$ 156,479,000
Beginning balance (in shares) at Mar. 31, 2023			32,775,526	60,226,153
Beginning balance at Mar. 31, 2023	850,475,000		$ 327,000	$ 602,000	267,185,000	411,494,000	14,608,000
Increase (Decrease) in Partners' Capital [Roll Forward]
Stock-based compensation	4,044,000				4,044,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	0		$ 2,000		(2,000)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number			130,008
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings			(23,410)
Restricted Stock, Value, Shares Issued Net of Tax Withholdings	(322,000)				(322,000)
Distributions	(2,985,000)						(2,985,000)
Preferred dividends declared	(3,375,000)					(3,375,000)
Comprehensive income	71,642,000					68,544,000	2,878,000
Net and comprehensive income	71,642,000					68,544,000	2,878,000
Ending Balance (in shares) at Jun. 30, 2023			32,882,124	60,226,153
Ending balance at Jun. 30, 2023	$ 919,479,000		$ 329,000	$ 602,000	$ 270,905,000	$ 476,663,000	$ 14,501,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities
Net and comprehensive income	$ 123,393	$ 112,705
Adjustments to Reconcile Net Income to Net cash provided by/(used in) operating activities
Depreciation and amortization	5,312	4,230
Gain on sale of property and equipment	(20)	(16)
Amortization of debt issuance costs	2,264	1,860
Extinguishment of unamortized debt issuance costs	0	282
Amortization of right-of-use operating lease assets	3,617	2,489
Stock-based compensation	6,474	3,244
Deferred tax (benefit) expense	(2,036)	16,633
Return on investments, net of income from unconsolidated entities	60	1,372
Revaluation of contingent consideration	23,582	9,234
Payments of contingent consideration	(12,618)	0
Changes in Operating Assets and Liabilities
Accounts receivable	12,057	3,203
Inventories	(39,073)	(289,355)
Lot deposits	29,355	(47,021)
Other assets	6,069	(32,058)
Accounts payable and accrued expenses	(104,715)	(13,374)
Customer deposits	17,583	13,260
Operating lease liabilities	(3,518)	(2,439)
Net cash provided by/(used in) operating activities	67,786	(215,751)
Cash Flows from Investing Activities
Purchase of property and equipment	(3,003)	(1,923)
Proceeds from disposal of property and equipment	52	42
Return of investments from unconsolidated entities	0	407
Net cash used in investing activities	(2,951)	(1,474)
Cash Flows from Financing Activities
Proceeds from construction lines of credit	5,410,000	230,578
Principal payments on construction lines of credit	(5,500,576)	(117,301)
Payments of debt issuance costs	(125)	(5,069)
Payments of preferred stock dividends	(6,750)	(6,787)
Payments for common stock withheld for taxes	(322)	0
Distributions to noncontrolling interests	(4,009)	(18,390)
Payments of contingent consideration	(32,592)	(17,735)
Net decrease in cash, cash equivalents and restricted cash	(134,374)	65,296
Net decrease in cash, cash equivalents and restricted cash	(69,539)	(151,929)
Cash, cash equivalents and restricted cash at beginning of period	395,130	281,322
Cash, cash equivalents and restricted cash at end of period	325,591	129,393
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	292,510	84,097
Restricted cash	33,081	45,296
Total cash, cash equivalents and restricted cash	325,591	129,393
Noncash Financing Activities
Accrued distributions	434	0
Leased assets obtained in exchange for new operating lease liabilities	1,157	8,239
Total noncash activities	$ 1,591	$ 8,239

Nature of Business and Signific

Nature of Business and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Nature of Business and Significant Accounting Policies	Nature of Business and Significant Accounting Policies Nature of Business Dream Finders Homes, Inc. (together with its subsidiaries, “Dream Finders”, the “Company” or “DFH, Inc.”) designs, builds and sells homes in markets throughout the United States. The Company also offers title insurance and mortgage banking solutions. The Company was incorporated in the State of Delaware on September 11, 2020. Basis of Presentation and Consolidation The accompanying unaudited, condensed consolidated financial statements include the accounts of DFH, Inc., its wholly owned subsidiaries and its investments that qualify for consolidation treatment (see Note 5, Variable Interest Entities), including Dream Finders Holdings, LLC (“DFH LLC”), which is the legal entity that issued the outstanding Series B Preferred Units. The accompanying statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for a complete set of financial statements. As such, the accompanying statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The accompanying statements include all adjustments that are of a normal, recurring nature and necessary for the fair presentation of our results for the interim periods presented, which are not necessarily indicative of results to be expected for the full year. All intercompany accounts and transactions have been eliminated in consolidation. There are no other components of comprehensive income not already reflected in net and comprehensive income on our Condensed Consolidated Statements of Comprehensive Income. 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 the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. Contingent Consideration In connection with applicable business combinations, the Company records the fair value of contingent consideration as a liability on the acquisition date as prescribed by the underlying agreement. The initial measurement of contingent consideration is based on projected cash flows such as revenues, gross margin, overhead expenses and pre-tax income of the acquired business and is discounted to present value using the discounted cash flow method. The remaining estimated contingent consideration payments are subsequently remeasured to fair value at each reporting date based on the estimated future earnings of the acquired entities and the re-assessment of risk-adjusted discount rates that reflect current market conditions. Maximum potential exposure for contingent consideration is not estimable based on the contractual terms of the contingent consideration agreements, which allow for a percentage payout based on a potentially unlimited range of pre-tax net income. As of June 30, 2023 and December 31, 2022, the Company remeasured the fair value of contingent consideration related to the 2020 acquisition of H&H Constructors of Fayetteville, LLC and adjusted the liability to $10.2 million and $11.6 million, respectively, based on actual results achieved, revised pre-tax income forecasts and revised discount rates as of the balance sheet date and from accretion of the liability . The Company recorded contingent consideration adjustments resulting in $1.7 million of expense and $0.7 million of expense for the three months ended June 30, 2023 and 2022, and $3.2 million of expense and $2.5 million of expense for the six months ended June 30, 2023 and 2022, respectively. As of June 30, 2023 and December 31, 2022, the Company remeasured the fair value of contingent consideration related to the 2021 acquisition of McGuyer Homebuilders, Inc. (“MHI”) and adjusted the liability to $83.3 million and $102.1 million, respectively, based on actual results achieved, revised pre-tax income forecasts and revised discount rates as of the balance sheet date and from accretion of the liability . The Company recorded contingent consideration adjustments resulting in $16.6 million of expense and $1.9 million of expense for the three months ended June 30, 2023 and 2022, and $20.0 million of expense and $3.9 million of expense for the six months ended June 30, 2023 and 2022, respectively. The increase in contingent consideration expense is primarily due to fair value adjustments from actual results achieved being better-than-projected and the related increase in expected future earnout payments from the MHI acquisition. See Note 8, Fair Value Disclosures for the fair value measurement of contingent consideration. Share Buyback Program In June 2023, the Company’s Board of Directors (the “Board”) approved a share buyback program under which the Company can repurchase up to $25 million of its Class A common stock through June 30, 2026 in open market purchases, privately negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The actual timing, number and value of shares repurchased under the share buyback program will depend on a number of factors, including constraints specified in any Rule 10b5-1 trading plans, price, general business and market conditions, and alternative investment opportunities. The share buyback program does not obligate the Company to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued at any time. The Company has not repurchased any stock under the share buyback program. Reclassifications Certain reclassifications have been made in the condensed consolidated financial statements for 2022 to conform to the classifications used in 2023.

Construction Lines of Credit

Construction Lines of Credit	6 Months Ended
	Jun. 30, 2023
Line of Credit Facility [Abstract]
Construction Lines of Credit	Construction Lines of Credit On June 2, 2022, the Company entered into an agreement to amend and restate its previous credit agreement (the “Existing Credit Agreement” or the “Credit Agreement”). The Existing Credit Agreement (i) provides for aggregate commitments under the facility up to $1.1 billion, inclusive of an additional commitment of $50.0 million under the terms of the accordion feature; (ii) allows the facility to expand to a borrowing base of up to $1.6 billion through its accordion feature; (iii) has a maturity date of June 2, 2025; and (iv) references a Secured Overnight Financing Rate (“SOFR”) based rate, as described below. Certain of our subsidiaries guaranteed the Company’s obligations under the Existing Credit Agreement. Under the Existing Credit Agreement, loans bear interest at the Company’s option of (1) a “Base Rate”, which means, for any day, a fluctuating rate per annum equal to credit spreads of 1.5% to 2.6%, which are determined based on the Company’s net debt-to-capitalization ratio, plus the highest of (a) the Federal Funds Rate plus 0.5%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” (c) Term SOFR plus 1.0% and (d) 1.0%, or (2) a “Term SOFR/Letter of Credit Rate”, which means for any day a fluctuating rate per annum equal to credit spreads of 2.5% to 3.6%, which are determined based on the Company’s debt-to-capitalization ratio, plus the adjusted term SOFR rate (based on one, three or six-month interest periods). As of June 30, 2023 and December 31, 2022, the outstanding balance under the Existing Credit Agreement was $875.0 million and $965.0 million, respectively. Under the Existing Credit Agreement, the funds available are unsecured and availability under the borrowing base is calculated based on specified percentages of finished lots, construction in process, and finished homes inventory on the Condensed Consolidated Balance Sheets. The Company had capitalized debt issuance costs related to the line of credit and notes payable, net of amortization, of $4.8 million and $7.3 million as of June 30, 2023 and December 31, 2022, respectively, which were included in other assets on the Condensed Consolidated Balance Sheets. The Company amortized $1.2 million and $1.1 million of debt issuance costs for the three months ended June 30, 2023 and 2022, and $2.3 million and $1.9 million of debt issuance costs for the six months ended June 30, 2023 and 2022, respectively. Debt issuance costs are expensed in cost of sales as the homes close. The Existing Credit Agreement contains restrictive covenants and financial covenants. The Company was in compliance with all debt covenants as of June 30, 2023 and December 31, 2022. The Company expects to remain in compliance with all debt covenants over the next twelve months.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of fi nished lots, construction in process (“CIP”) and finished homes, including capitalized interest. In addition, lot option fees related to off-balance sheet arrangements and due diligence costs related to land development are also capitalized into inventory. Finished lots are purchased with the intent of building and selling a home, and are generally purchased just-in-time for construction. CIP represents the homebuilding activity associated with homes to be sold and speculative homes. CIP includes the cost of finished lots and all of the direct costs incurred to build homes. The cost of homes is expensed on a specific identification basis. Interest is capitalized and included within each inventory category above. Capitalized interest activity is summarized in the table below for the three and six months ended June 30, 2023 and 2022 (in th ousands): For the Three Months Ended For the Six Months Ended 2023 2022 2023 2022 Capitalized interest at the beginning of the period $ 108,900 $ 49,392 $ 94,603 $ 33,266 Interest incurred 41,293 25,447 78,009 50,433 Interest expensed (1) (13) (1) (26) Interest charged to homebuilding cost of sales (32,798) (12,790) (55,217) (21,637) Capitalized interest at the end of the period $ 117,394 $ 62,036 $ 117,394 $ 62,036 The Company reviews the performance and outlook of its inventories for indicators of potential impairment on a quarterly basis at the community level. In addition to considering market and economic conditions, the Company assesses current sales absorption levels and recent profitability. The Company looks for instances where sales prices for a home in backlog or potential sales prices for a future sold home would be at a level at which the carrying value of the home may not be recoverable. There were no inventory impairment charges and $0.6 million in inventory impairment charges recorded for the three and six months ended June 30, 2023, respectively, and no inventory impairment charges recorded for the three and six months ended June 30, 2022. The Company reviews lot deposits for impairment on a quarterly basis and will record an impairment charge if it believes it will forfeit its deposit on an individual or portfolio of lots. There were $0.7 million and $1.6 million in lot deposit impairment charges recorded for the three and six months ended June 30, 2023, respectively, and no lot deposit impairment charges recorded for the three and six months ended June 30, 2022.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Silver Meadows Townhome Owners Association, Inc. Lawsuit On October 9, 2019, Silver Meadows Townhome Owners Association, Inc. filed a lawsuit in Boulder County Colorado District Court against DFH Mandarin, LLC (“Mandarin”) and Dream Finders Homes, LLC (collectively with Mandarin, “DFH”), both wholly owned subsidiaries of the Company, as well as other named defendants. The lawsuit alleges certain construction and development defects. Mandarin successfully compelled arbitration. On March 2, 2022 during arbitration proceedings, the parties settled the matter for $12.0 million subject to the execution of a mutually acceptable settlement agreement, including a denial of any admission of liability on behalf of DFH. DFH’s insurance carrier agreed to pay the policy limit of $4.0 million toward the settlement. In April 2022, the parties executed a mutually acceptable settlement agreement and DFH paid the settlement amount, net of the insurance proceeds received. In April 2022, DFH also commenced arbitration to seek contribution toward DFH’s portion of the settlement amount from responsible subcontractors and vendors who performed work on the project. Subsequent to the settlement with the Silver Meadows Townhome Owners Association, Inc., DFH settled with one subcontractor for contribution toward DFH's amounts paid toward the settlement and continued its proceedings to collect additional contributions from responsible subcontractors and vendors, which is still in progress as of the date of this filing. No such additional contributions from the vendors have been collected for the three and six months ended June 30, 2023 and 2022. However, the arbitrator entered a scheduling order on May 1, 2023, which set the final arbitration hearing for October 4, 2024, with the next status conference set for August 8, 2023.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2023
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities The Company holds investments in certain limited partnerships and similar entities that conduct land acquisition, land development and/or other homebuilding activities in various markets where our homebuilding operations are located, which are considered variable interests. The Company also has an interest in Jet Home Loans LLC (“Jet Home Loans” or “Jet LLC”), where the primary activities include underwriting, originating and selling home mortgages. The Company’s investments create a variable interest in a variable interest entity (“VIE”), depending on the contractual terms of the arrangement. Additionally, the Company, in the ordinary course of business, enters into option contracts with third parties and unconsolidated entities for the ability to acquire rights to finished lots for the construction of homes. Under these contracts, the Company typically makes a specified earnest money deposit in consideration for the right to purchase finished lots in the future, usually at a predetermined price. The VIEs are funded by initial capital contributions from the Company, as well as its other partners, and generally do not have significant debt. In some cases, an unrelated third party is the general partner or managing member and, in others, the general partner or managing member is a related party. The primary risk of loss associated with the Company’s involvement in these VIEs is limited to the Company’s initial capital contributions due to bankruptcy or insolvency of the VIE; however, management has deemed the likelihood of this as remote. The maximum exposure to loss related to the VIEs is disclosed below for both consolidated and unconsolidated VIEs, which equals the Company’s capital investment in each entity. Pursuant to ASC 810 and subtopics related to the consolidation of VIEs, m anagement analyzes the Company’s investments first under the variable interest model to determine if they are VIEs and, if so, whether the Company is the primary beneficiary. Management determines whether the Company is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders that conclusion if changes to the Company’s involvement arise. To make this determination, management considers factors such as whether the Company could direct finance, determine or limit the scope of the entity, sell or transfer property, direct development or direct other operating decisions. The primary beneficiary is defined as the entity having both of the following characteristics: 1) the power to direct the activities that most significantly impact the VIE’s economic performance, and 2) the obligation to absorb losses and rights to receive the returns from the VIE that would be potentially significant to the VIE. Management consolidates the entity if the Company is the primary beneficiary or if a standalone primary beneficiary does not exist and the Company and its related parties collectively meet the definition of a primary beneficiary. If the investment does not qualify as a VIE under the variable interest model, management then evaluates the entity under the voting interest model to assess if consolidation is appropriate. Consolidated VIEs For VIEs that the Company does consolidate, management has the power to direct the activities that most significantly impact the VIEs’ economic performance. The Company typically serves as the party with homebuilding expertise in the VIE. The Company does not guarantee the debts of the VIEs, and creditors of the VIEs have no recourse against the Company. The table below displays the carrying amounts of the assets and liabilities related to the consolidated VIEs (in thousands) : As of As of Consolidated 2023 2022 Assets $ 13,177 $ 13,344 Liabilities $ 2,590 $ 4,787 Unconsolidated VIEs For VIEs that the Company does not consolidate, the Company does not hold the power to direct the activities that most significantly impact the VIEs’ economic performance. The Company’s maximum exposure to loss is limited to its investment in the entities because the Company is not obligated to provide them any additional capital and does not guarantee any of the unconsolidated VIEs’ debt. The table below shows the Company’s investments in the unconsolidated VIEs (in thousands): As of As of Unconsolidated 2023 2022 Jet Home Loans $ 8,081 $ 7,102 Other unconsolidated VIEs 5,867 6,906 Total investment in unconsolidated VIEs $ 13,948 $ 14,008 Lot Option Contracts The Company generally does not engage in the land development business. Instead, the Company employs an asset-light land financing strategy, providing us optionality to purchase lots on a ‘‘just-in-time’’ basis for construction and affording us flexibility to acquire lots at a rate that matches the expected sales pace in a given community. The Company primarily employs two variations of our asset-light land financing strategy—finished lot option contracts and land bank option contracts—pursuant to which the Company secures the right to purchase finished lots at predetermined market prices from various land sellers and land bank partners, by paying deposits based on the aggregate purchase price of the finished lots. These option contracts generally allow us, at our option, to forfeit our right to purchase the lots controlled for any reason, and our sole legal obligation and economic loss as a result of such forfeitures is limited to the amount of the deposits paid pursuant to such option contracts and, in the case of land bank option contracts, our loss is limited to the related lot option fees paid to the land bank partner, any potential performance obligations, management of the land development to completion and any cost overruns relative to the project. None of the creditors of any of the land bank entities with which the Company enters into lot option contracts have recourse to our general credit. The Company generally does not have any specific performance obligations to purchase a certain number or any of the lots or guarantee any of the land bankers’ financial or other liabilities. The Company is not involved in the design or creation of the land bank entities from which the Company purchases lots under lot option contracts. The land bankers’ equity holders have the power to direct 100% of the operating activities of the land bank entity. The Company has no voting rights in any of the land bank entities. The sole purpose of the land bank entity’s activities is to generate positive cash flow returns for such entity’s equity holders. Further, the Company does not share in any of the profit or loss generated by the project’s development. The profits and losses are passed directly to the land bankers’ equity holders. The deposit placed by us pursuant to the lot option contracts is deemed to be a variable interest in the respective land bank entities. Certain of those land bank entities are deemed to be VIEs. Therefore, the land bank entities with which the Company enters into lot option contracts are evaluated for possible consolidation by the Company. The Company believes the activities that most significantly impact a land bank entity’s economic performance are the operating activities of the land bank entity. In the case of development projects, unless and until a land bank entity delivers finished lots for sale, the land bank entity’s equity investors bear the risk of land ownership and do not earn any revenues, except for lot option fees paid by the Company. The operating development activities are directed by the land bank entity’s equity investors. Dream Finders possesses no more than limited protective legal rights through the lot option contracts in the specific finished lots that are purchased, and possesses no participative rights in the land bank entities. Accordingly, the Company does not have the power to direct the activities of a land bank entity that most significantly impact its economic performance. For the aforementioned reasons, the Company concluded that it is not the primary beneficiary of the land bank entities with which it enters into lot option contracts, and therefore the Company does not consolidate any of these VIEs. The Company’s risk of loss related to finished lot option and land bank option deposits and related fees and interest was $316.7 million and $461.6 million as of June 30, 2023 and December 31, 2022, respectivel y.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the six months ended June 30, 2023 and 2022 is estimated to be 25.3% and 26.3%, respectively. The effective tax rate decrease of 1.0% is primarily attributable to including an estimate of the 45L tax credit during the six months ended June 30, 2023, but not during the six months ended June 30, 2022 due to the timing of the enactment of the legislation.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company primarily operates in the homebuilding business and is organized and reported by division. There are six reportable segments: (i) Jacksonville, (ii) Colorado, (iii) Orlando, (iv) The Carolinas, (v) Texas and (vi) Jet LLC, the Company’s mortgage operations. The MHI operations comprise the Texas segment, which excludes legacy Austin, Texas operations. The remaining operating segments are combined into the “Other” category, along with the corporate component, which is not considered an operating segment. During the second quarter of 2023, the CODM’s most relevant measure of profit and loss for segment reporting changed from net and comprehensive income to income before taxes. The comparative disclosures below reflect this change in segment reporting for the three and six months ended June 30, 2022. The following tables summarize revenues and income before taxes by segment for the three and six months ended June 30, 2023 and 2022, as well as total assets and goodwill by segment as of June 30, 2023 and December 31, 2022 (in thousands): For the Three Months Ended For the Six Months Ended Revenues: 2023 2022 2023 2022 Jacksonville $ 164,161 $ 180,853 $ 307,102 $ 315,684 Colorado 46,936 39,431 92,840 77,584 Orlando 144,027 60,468 260,089 107,311 The Carolinas 121,004 118,180 225,977 201,763 Texas 362,110 305,068 640,037 580,492 Jet Home Loans 8,647 6,695 17,062 13,653 Other (1) 107,101 89,134 188,714 174,366 Total segment revenues 953,986 799,829 1,731,821 1,470,853 Reconciling items from equity method investments (8,647) (6,695) (17,062) (13,653) Consolidated revenues $ 945,339 $ 793,134 $ 1,714,759 $ 1,457,200 For the Three Months Ended For the Six Months Ended Income before taxes 2023 2022 2023 2022 Jacksonville $ 23,873 $ 36,615 $ 39,018 $ 60,218 Colorado 3,331 6,483 6,699 12,595 Orlando 19,236 5,359 32,300 9,298 The Carolinas 6,677 8,695 10,879 11,642 Texas 39,815 31,364 67,472 54,919 Jet Home Loans 4,310 2,908 8,962 6,003 Other (1) 765 (269) 4,395 1,321 Total segment income before taxes 98,007 91,155 169,725 155,996 Reconciling items from equity method investments (2,159) (1,457) (4,490) (3,086) Consolidated income before taxes $ 95,848 $ 89,698 $ 165,235 $ 152,910 Assets: Goodwill: As of As of As of As of 2023 2022 2023 2022 Jacksonville $ 280,527 $ 300,491 $ — $ — Colorado 210,497 187,813 — — Orlando 303,250 276,720 1,795 1,795 The Carolinas 259,669 311,469 16,853 16,853 Texas 660,045 793,219 141,071 141,071 Jet Home Loans 73,864 96,108 — — Other (1) 565,931 494,150 12,488 12,488 Total segments 2,353,783 2,459,970 172,207 172,207 Reconciling items from equity method investments (65,556) (88,833) — — Consolidated $ 2,288,227 $ 2,371,137 $ 172,207 $ 172,207

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures Fair value represents the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair values are determined using a fair value hierarchy based on the inputs used to measure fair value. Level 1 inputs are unadjusted quoted prices in active markets for identical assets and liabilities. Level 2 inputs are inputs other than quoted market prices that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable and significant to the fair value. The following table presents a summary of the change in fair value measurement of contingent consideration, which is based on Level 3 inputs and is the only asset or liability measured at fair value on a recurring basis (in thousands): Beginning balance, December 31, 2022 $ 115,128 Fair value adjustments related to prior year acquisitions 23,582 Contingent consideration payments (45,210) Ending balance, June 30, 2023 $ 93,500 Fair value measurements may also be utilized on a nonrecurring basis, such as for the impairment of long-lived assets and inventory. The fair value of financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, notes payable and customer deposits, approximate their carrying amounts due to the short-term nature of these instruments. The fair value of the construction lines of credit approximate their carrying amounts since they are subject to short-term fixed interest rates that reflect current market rates.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company enters into or participates in related party transactions. The majority of these transactions are entered into to secure finished lots for the construction of new homes. Consolidated VIEs The Company has arrangements to acquire land, develop finished lots and build homes. Certain stockholders, directors and members of management of the Company, have invested in these VIEs and some are limited partners in these VIEs. DFH Investors LLC is the managing member of certain of these VIEs. The VIEs are consolidated for accounting purposes (see Note 5, Variable Interest Entities). DF Residential I, LP DF Residential I, LP (“Fund I”) is a real estate investment vehicle organized to acquire and develop finished lots. DF Capital Management, LLC (“DF Capital”) is the investment manager of Fund I. The Company owns a 49% membership interest in DF Capital. DF Capital is controlled by unaffiliated parties. The general partner of Fund I is DF Management GP, LLC (“DF Management”). Dream Finders Homes LLC is one of four members of DF Management with a 25.8% membership interest. Fund I was fully committed in 2019 for a total of $36.7 million. Dream Finders Homes LLC and DFH Investors LLC, collectively invested $1.4 million or 3.8% of the total committed capital of Fund I. Dream Finders Homes LLC has entered into six joint ventures and ten land bank projects with Fund I since its formation in January 2017. DF Residential II, LP DF Residential II, LP (“Fund II”) initiated its first close on March 11, 2021. DF Management GP II, LLC, a Florida limited liability company, serves as the general partner of Fund II (the “General Partner”). Fund II raised total capital commitments of $322.1 million and was fully committed as of January 2022. DF Capital is the investment manager of Fund II. The Company indirectly owns 72.0% of the membership interests in the General Partner and receives 72.0% of the economic interests. The General Partner is controlled by unaffiliated parties. The Company’s investment commitment in Fund II is $3.0 million or 0.9% of the total committed capital of Fund II. On March 11, 2021, the Company entered into land bank financing arrangements and a Memorandum of Right of First Offer with Fund II, under which Fund II has an exclusive right of first offer on any land bank financing projects that meet its investment criteria and are undertaken by the Company during Fund II’s investment period. Certain directors, executive officers and members of management have made investment commitments as limited partners in Fund II in an aggregate amount of $133.9 million or 41.6% of the total committed capital of Fund II as of June 30, 2023, inclusive of a $100.0 million commitment from Rockpoint Group, LLC discussed below. Land Bank Transactions with DF Capital DF Capital raised additional commitments from limited partners through deals other than Fund I and Fund II, which provided land bank financing for specific projects. One of the Company’s officers invested $0.2 million in one of these funds managed by DF Capital as a limited partner in 2019. The Company continues to purchase lots controlled by these funds. As of June 30, 2023 and December 31, 2022 , the Company had $58.1 million and $58.6 million, respectively, in outstanding lot deposits primarily related to Fund II and other land bank transaction deals in relation to DF Capital projects, controlling approximately 4,800 lots. Transactions with Rockpoint Group, LLC and affiliates From time to time, the Company enters into land bank option contracts with Rockpoint Group, LLC (“Rockpoint”) or its affiliates in connection with the Company’s acquisition and development of land. Rockpoint or its affiliate provides the funding for the land acquisition and the Company secures the right to purchase finished lots at market prices by paying deposits based on the aggregate purchase price of the finished lots and any related fees, similar to land bank option contracts with third-party land bankers. William H. Walton III is the founding principal and chief executive officer of Rockpoint. Mr. Walton served as a member of the Board through May 21, 2023. During the six months ended June 30, 2023, no transactions were entered into between Rockpoint and the Company. Jet Home Loans Jet LLC performs mortgage origination activities for the Company, including underwriting and originating home mortgages for Company customers and non-Company customers. The Company owns 49.9% of Jet LLC, but is not the primary beneficiary. Jet LLC is accounted for under the equity method and is a related party of the Company (Note 7, Segment Reporting).

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per Share The following weighted-average shares and share equivalents were used to calculate basic and diluted earnings per share (“EPS”) for the three and six months ended June 30, 2023 and 2022 (in thousands, except share amounts): For the Three Months Ended For the Six Months Ended 2023 2022 2023 2022 Numerator Net and comprehensive income attributable to Dream Finders Homes, Inc. $ 68,764 $ 62,624 $ 117,853 $ 106,340 Less: Preferred dividends 3,595 3,616 7,184 7,195 Net and comprehensive income available to common stockholders (1) $ 65,169 $ 59,008 $ 110,669 $ 99,145 Denominator Weighted-average number of common shares outstanding - basic 93,108,277 92,758,939 93,025,626 92,758,939 Add: Common stock equivalent shares (2) 12,331,242 11,807,304 14,679,233 10,772,621 Weighted-average number of shares outstanding - diluted 105,439,519 104,566,243 107,704,859 103,531,560 (1) For the diluted earnings per share calculation, $3.4 million and $6.8 million in preferred dividends associated with convertible preferred stock that are assumed to be converted have been added back to the numerator, for both the three months ended June 30, 2023 and 2022, and for both the six months ended June 30, 2023 and 2022, respectively. The remaining amount of preferred dividends that are not added back to the numerator are associated with paid-in-kind dividends for preferred mezzanine equity which is not convertible into the Company’s common stock. Since the conversion price of the Company’s convertible preferred stock is based on an average of the closing price of Class A common stock for the 90 trading days immediately preceding the end of the current period, changes in the price of the Class A common stock may significantly affect the number of additional assumed common shares outstanding under the if-converted method for diluted earnings per share, even when the number of convertible preferred stock shares outstanding is unchanged. (2) Stock-based compensation awards are excluded from the calculation of diluted EPS in the event they are antidilutive. There were no common stock equivalent shares and 0.9 million of common stock equivalent shares excluded from the diluted earnings per share calculation during the three months ended June 30, 2023 and 2022, respectively, and 1.2 million and 0.7 million of common stock equivalent shares excluded from the diluted earnings per share calculation during the six months ended June 30, 2023 and 2022, respectively, related to unvested restricted stock that were antidilutive.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 19, 2023, the Company entered into amendments to its Existing Credit Agreement (as amended, the “Amended Credit Agreement”). The amendments, among other things, (i) provide for an increase in the aggregate commitments under the revolving credit facility from $1.1 billion to $1.2 billion, subject to a borrowing base; (ii) extend the maturity date from June 2, 2025 to July 17, 2026 for certain new and existing lenders comprising $1.1 billion of the $1.2 billion of aggregate commitments under the Amended Credit Agreement; (iii) authorize the non-extending lenders to extend their maturity dates to July 17, 2026, with the consent of the Company; and (iv) provide the Company with the ability to incur certain additional unsecured debt. The amendments also increase the Company’s minimum tangible net worth covenant by increasing the base component of such covenant from $385 million to $607 million. The Amended Credit Agreement retains an accordion feature that allows the aggregate commitments to increase up to $1.6 billion, subject to a borrowing base. Under the Amended Credit Agreement, loans bear interest, at the Company’s option, at (1) a “Base Rate”, which means for any day a fluctuating rate per annum equal to credit spreads of 1.5% to 2.3%, which are determined based on the Company’s net debt to capitalization ratio, plus the highest of (a) the Federal Funds Rate plus 0.5%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” (c) Term SOFR plus 1.0% and (d) 1.0%, or (2) a “Term SOFR Rate” or “Daily SOFR Rate”, which means for any day a fluctuating rate per annum equal to credit spreads of 2.5% to 3.3%, which are determined based on the Company’s net debt to capitalization ratio, plus either the Daily SOFR Rate (including a SOFR adjustment of 10 basis points) or the Term SOFR Rate, which is based on one, three or six-month interest periods (including a SOFR adjustment of 10 basis points for a one-month interest period, 15 basis points for a three-month interest period and 25 basis points for a six-month interest period), as applicable. The Company may not request a borrowing of, or conversion to, a Base Rate Loan unless Daily Simple SOFR Loans and Term SOFR Rate Loans are unavailable under the Amended Credit Agreement.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net and comprehensive income attributable to Dream Finders Homes, Inc.	$ 68,764	$ 62,624	$ 117,853	$ 106,340

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Nature of Business and Signif_2

Nature of Business and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Nature of Business	Nature of Business Dream Finders Homes, Inc. (together with its subsidiaries, “Dream Finders”, the “Company” or “DFH, Inc.”) designs, builds and sells homes in markets throughout the United States. The Company also offers title insurance
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying unaudited, condensed consolidated financial statements include the accounts of DFH, Inc., its wholly owned subsidiaries and its investments that qualify for consolidation treatment (see Note 5, Variable Interest Entities), including Dream Finders Holdings, LLC (“DFH LLC”), which is the legal entity that issued the outstanding Series B Preferred Units. The accompanying statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for a complete set of financial statements. As such, the accompanying statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The accompanying statements include all adjustments that are of a normal, recurring nature and necessary for the fair presentation of our results for the interim periods presented, which are not necessarily indicative of results to be expected for the full year. All intercompany accounts and transactions have been eliminated in consolidation. There are no other components of comprehensive income not already reflected in net and comprehensive income on our Condensed Consolidated Statements of Comprehensive Income.
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 the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates.
Contingent Consideration	Contingent Consideration In connection with applicable business combinations, the Company records the fair value of contingent consideration as a liability on the acquisition date as prescribed by the underlying agreement. The initial measurement of contingent consideration is based on projected cash flows such as revenues, gross margin, overhead expenses and pre-tax income of the acquired business and is discounted to present value using the discounted cash flow method. The remaining estimated contingent consideration payments are subsequently remeasured to fair value at each reporting date based on the estimated future earnings of the acquired entities and the re-assessment of risk-adjusted discount rates that reflect current market conditions. Maximum potential exposure for contingent consideration is not estimable based on the contractual terms of the contingent consideration agreements, which allow for a percentage payout based on a potentially unlimited range of pre-tax net income. As of June 30, 2023 and December 31, 2022, the Company remeasured the fair value of contingent consideration related to the 2020 acquisition of H&H Constructors of Fayetteville, LLC and adjusted the liability to $10.2 million and $11.6 million, respectively, based on actual results achieved, revised pre-tax income forecasts and revised discount rates as of the balance sheet date and from accretion of the liability . The Company recorded contingent consideration adjustments resulting in $1.7 million of expense and $0.7 million of expense for the three months ended June 30, 2023 and 2022, and $3.2 million of expense and $2.5 million of expense for the six months ended June 30, 2023 and 2022, respectively. As of June 30, 2023 and December 31, 2022, the Company remeasured the fair value of contingent consideration related to the 2021 acquisition of McGuyer Homebuilders, Inc. (“MHI”) and adjusted the liability to $83.3 million and $102.1 million, respectively, based on actual results achieved, revised pre-tax income forecasts and revised discount rates as of the balance sheet date and from accretion of the liability . The Company recorded contingent consideration adjustments resulting in $16.6 million of expense and $1.9 million of expense for the three months ended June 30, 2023 and 2022, and $20.0 million of expense and $3.9 million of expense for the six months ended June 30, 2023 and 2022, respectively. The increase in contingent consideration expense is primarily due to fair value adjustments from actual results achieved being better-than-projected and the related increase in expected future earnout payments from the MHI acquisition. See Note 8, Fair Value Disclosures for the fair value measurement of contingent consideration.
Reclassifications	Reclassifications Certain reclassifications have been made in the condensed consolidated financial statements for 2022 to conform to the classifications used in 2023.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Capitalized Inventory	Interest is capitalized and included within each inventory category above. Capitalized interest activity is summarized in the table below for the three and six months ended June 30, 2023 and 2022 (in th ousands): For the Three Months Ended For the Six Months Ended 2023 2022 2023 2022 Capitalized interest at the beginning of the period $ 108,900 $ 49,392 $ 94,603 $ 33,266 Interest incurred 41,293 25,447 78,009 50,433 Interest expensed (1) (13) (1) (26) Interest charged to homebuilding cost of sales (32,798) (12,790) (55,217) (21,637) Capitalized interest at the end of the period $ 117,394 $ 62,036 $ 117,394 $ 62,036

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2023
Variable Interest Entities [Abstract]
Schedule of Variable Interest Entities	The table below displays the carrying amounts of the assets and liabilities related to the consolidated VIEs (in thousands) : As of As of Consolidated 2023 2022 Assets $ 13,177 $ 13,344 Liabilities $ 2,590 $ 4,787
Investment in Unconsolidated VIEs	The table below shows the Company’s investments in the unconsolidated VIEs (in thousands): As of As of Unconsolidated 2023 2022 Jet Home Loans $ 8,081 $ 7,102 Other unconsolidated VIEs 5,867 6,906 Total investment in unconsolidated VIEs $ 13,948 $ 14,008

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize revenues and income before taxes by segment for the three and six months ended June 30, 2023 and 2022, as well as total assets and goodwill by segment as of June 30, 2023 and December 31, 2022 (in thousands): For the Three Months Ended For the Six Months Ended Revenues: 2023 2022 2023 2022 Jacksonville $ 164,161 $ 180,853 $ 307,102 $ 315,684 Colorado 46,936 39,431 92,840 77,584 Orlando 144,027 60,468 260,089 107,311 The Carolinas 121,004 118,180 225,977 201,763 Texas 362,110 305,068 640,037 580,492 Jet Home Loans 8,647 6,695 17,062 13,653 Other (1) 107,101 89,134 188,714 174,366 Total segment revenues 953,986 799,829 1,731,821 1,470,853 Reconciling items from equity method investments (8,647) (6,695) (17,062) (13,653) Consolidated revenues $ 945,339 $ 793,134 $ 1,714,759 $ 1,457,200 For the Three Months Ended For the Six Months Ended Income before taxes 2023 2022 2023 2022 Jacksonville $ 23,873 $ 36,615 $ 39,018 $ 60,218 Colorado 3,331 6,483 6,699 12,595 Orlando 19,236 5,359 32,300 9,298 The Carolinas 6,677 8,695 10,879 11,642 Texas 39,815 31,364 67,472 54,919 Jet Home Loans 4,310 2,908 8,962 6,003 Other (1) 765 (269) 4,395 1,321 Total segment income before taxes 98,007 91,155 169,725 155,996 Reconciling items from equity method investments (2,159) (1,457) (4,490) (3,086) Consolidated income before taxes $ 95,848 $ 89,698 $ 165,235 $ 152,910 Assets: Goodwill: As of As of As of As of 2023 2022 2023 2022 Jacksonville $ 280,527 $ 300,491 $ — $ — Colorado 210,497 187,813 — — Orlando 303,250 276,720 1,795 1,795 The Carolinas 259,669 311,469 16,853 16,853 Texas 660,045 793,219 141,071 141,071 Jet Home Loans 73,864 96,108 — — Other (1) 565,931 494,150 12,488 12,488 Total segments 2,353,783 2,459,970 172,207 172,207 Reconciling items from equity method investments (65,556) (88,833) — — Consolidated $ 2,288,227 $ 2,371,137 $ 172,207 $ 172,207

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents a summary of the change in fair value measurement of contingent consideration, which is based on Level 3 inputs and is the only asset or liability measured at fair value on a recurring basis (in thousands): Beginning balance, December 31, 2022 $ 115,128 Fair value adjustments related to prior year acquisitions 23,582 Contingent consideration payments (45,210) Ending balance, June 30, 2023 $ 93,500

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Weighted-Average Shares and Share Equivalents Used to Calculate Basic and Diluted Earnings per Share	The following weighted-average shares and share equivalents were used to calculate basic and diluted earnings per share (“EPS”) for the three and six months ended June 30, 2023 and 2022 (in thousands, except share amounts): For the Three Months Ended For the Six Months Ended 2023 2022 2023 2022 Numerator Net and comprehensive income attributable to Dream Finders Homes, Inc. $ 68,764 $ 62,624 $ 117,853 $ 106,340 Less: Preferred dividends 3,595 3,616 7,184 7,195 Net and comprehensive income available to common stockholders (1) $ 65,169 $ 59,008 $ 110,669 $ 99,145 Denominator Weighted-average number of common shares outstanding - basic 93,108,277 92,758,939 93,025,626 92,758,939 Add: Common stock equivalent shares (2) 12,331,242 11,807,304 14,679,233 10,772,621 Weighted-average number of shares outstanding - diluted 105,439,519 104,566,243 107,704,859 103,531,560 (1) For the diluted earnings per share calculation, $3.4 million and $6.8 million in preferred dividends associated with convertible preferred stock that are assumed to be converted have been added back to the numerator, for both the three months ended June 30, 2023 and 2022, and for both the six months ended June 30, 2023 and 2022, respectively. The remaining amount of preferred dividends that are not added back to the numerator are associated with paid-in-kind dividends for preferred mezzanine equity which is not convertible into the Company’s common stock. Since the conversion price of the Company’s convertible preferred stock is based on an average of the closing price of Class A common stock for the 90 trading days immediately preceding the end of the current period, changes in the price of the Class A common stock may significantly affect the number of additional assumed common shares outstanding under the if-converted method for diluted earnings per share, even when the number of convertible preferred stock shares outstanding is unchanged. (2) Stock-based compensation awards are excluded from the calculation of diluted EPS in the event they are antidilutive. There were no common stock equivalent shares and 0.9 million of common stock equivalent shares excluded from the diluted earnings per share calculation during the three months ended June 30, 2023 and 2022, respectively, and 1.2 million and 0.7 million of common stock equivalent shares excluded from the diluted earnings per share calculation during the six months ended June 30, 2023 and 2022, respectively, related to unvested restricted stock that were antidilutive.

Nature of Business and Signif_3

Nature of Business and Significant Accounting Policies, Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Business Combination, Contingent Consideration Arrangements [Abstract]
Contingent consideration	$ 93,500		$ 93,500		$ 115,128
H&H
Business Combination, Contingent Consideration Arrangements [Abstract]
Contingent consideration	10,200		10,200		11,600
H&H | Other Expense
Business Combination, Contingent Consideration Arrangements [Abstract]
Contingent consideration adjustments, increase (decrease) in expenses	1,700	$ 700	3,200	$ 2,500
MHI Acquisition
Business Combination, Contingent Consideration Arrangements [Abstract]
Contingent consideration	83,300		83,300		$ 102,100
MHI Acquisition | Other Expense
Business Combination, Contingent Consideration Arrangements [Abstract]
Contingent consideration adjustments, increase (decrease) in expenses	$ 16,600	$ 1,900	$ 20,000	$ 3,900

Nature of Business and Signif_4

Nature of Business and Significant Accounting Policies - Share Buyback Program (Details) $ in Millions	Jun. 30, 2023 USD ($)
Accounting Policies [Abstract]
Share buyback program repurchase amount	$ 25

Construction Lines of Credit (D

Construction Lines of Credit (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Jun. 02, 2022
Line of Credit Facility [Line Items]
Construction loan, outstanding balance	$ 875,000		$ 875,000		$ 965,000
Amortization of debt issuance costs	1,200	$ 1,100	2,264	$ 1,860
Line of Credit and Notes Payable
Line of Credit Facility [Line Items]
Debt issuance costs, net of amortization	$ 4,800		$ 4,800		$ 7,300
Line of Credit | Variable Rate, Highest Option, One | Fed Funds Effective Rate Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.50%
Line of Credit | Variable Rate, Highest Option, Two | Secured Overnight Financing Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate			1%
Line of Credit | Variable Rate, Highest Option, Three
Line of Credit Facility [Line Items]
Basis spread on variable rate			1%
Line of Credit | Minimum | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.50%
Line of Credit | Minimum | Variable Rate, Highest Option, Four | Secured Overnight Financing Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate			2.50%
Line of Credit | Maximum | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate			2.60%
Line of Credit | Maximum | Variable Rate, Highest Option, Four | Secured Overnight Financing Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate			3.60%
Bank of America, N.A. and Other Lenders
Line of Credit Facility [Line Items]
Line of credit maximum borrowing base						$ 1,100,000
Accordion feature, increase amount						50,000
Accordion feature, increase limit						$ 1,600,000

Inventories - Interest (Details

Inventories - Interest (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized interest at the beginning of the period	$ 108,900	$ 49,392	$ 94,603	$ 33,266
Interest incurred	41,293	25,447	78,009	50,433
Interest expensed	(1)	(13)	(1)	(26)
Interest charged to homebuilding cost of sales	(32,798)	(12,790)	(55,217)	(21,637)
Capitalized interest at the end of the period	$ 117,394	$ 62,036	$ 117,394	$ 62,036

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventory write-down	$ 0	$ 0	$ 0.6	$ 0
Deposit forfeitures or impairments	$ 0.7	$ 0	$ 1.6	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Mar. 02, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Settlement amount during arbitration proceedings	$ 12
Litigation settlement, amount awarded to other party	$ 4

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) $ in Millions	Jun. 30, 2023 USD ($) Vote	Dec. 31, 2022 USD ($)
Variable Interest Entities [Abstract]
Land bankers equity holders power to direct , percentage of operating activities of land bank entity	100%
Number of voting rights of land bank entities | Vote	0
Total risk of loss related to finished lot option and land bank option contracts | $	$ 316.7	$ 461.6

Variable Interest Entities - Sc

Variable Interest Entities - Schedule of Variable Interest Entities (Details) - Variable Interest Entity, Primary Beneficiary - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Assets	$ 13,177	$ 13,344
Liabilities	$ 2,590	$ 4,787

Variable Interest Entities - In

Variable Interest Entities - Investment in Unconsolidated VIEs (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Investment in unconsolidated VIE's	$ 13,948	$ 14,008
Jet Home Loans
Variable Interest Entity [Line Items]
Investment in unconsolidated VIE's	8,081	7,102
Other unconsolidated VIEs
Variable Interest Entity [Line Items]
Investment in unconsolidated VIE's	$ 5,867	$ 6,906

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent		25.30%	26.30%
Decrease in effective tax rate due to tax credits	1%

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) Segment	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | Segment			6
Revenues [Abstract]
Consolidated revenues	$ 945,339	$ 793,134	$ 1,714,759	$ 1,457,200
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract]
Net and comprehensive income	71,642	66,371	123,393	112,705
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Comprehensive income	71,642	66,371	123,393	112,705
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	95,848	89,698	165,235	152,910
Assets [Abstract]
Assets	2,288,227		2,288,227		$ 2,371,137
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Goodwill	172,207		172,207		172,207
Operating Segments
Revenues [Abstract]
Consolidated revenues	953,986	799,829	1,731,821	1,470,853
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract]
Net and comprehensive income	98,007	91,155	169,725	155,996
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Comprehensive income	98,007	91,155	169,725	155,996
Assets [Abstract]
Assets	2,353,783		2,353,783		2,459,970
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Goodwill	172,207		172,207		172,207
Operating Segments | Jacksonville
Revenues [Abstract]
Consolidated revenues	164,161	180,853	307,102	315,684
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract]
Net and comprehensive income	23,873	36,615	39,018	60,218
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Comprehensive income	23,873	36,615	39,018	60,218
Assets [Abstract]
Assets	280,527		280,527		300,491
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Goodwill	0		0		0
Operating Segments | Colorado
Revenues [Abstract]
Consolidated revenues	46,936	39,431	92,840	77,584
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract]
Net and comprehensive income	3,331	6,483	6,699	12,595
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Comprehensive income	3,331	6,483	6,699	12,595
Assets [Abstract]
Assets	210,497		210,497		187,813
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Goodwill	0		0		0
Operating Segments | Orlando
Revenues [Abstract]
Consolidated revenues	144,027	60,468	260,089	107,311
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract]
Net and comprehensive income	19,236	5,359	32,300	9,298
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Comprehensive income	19,236	5,359	32,300	9,298
Assets [Abstract]
Assets	303,250		303,250		276,720
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Goodwill	1,795		1,795		1,795
Operating Segments | The Carolinas
Revenues [Abstract]
Consolidated revenues	121,004	118,180	225,977	201,763
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract]
Net and comprehensive income	6,677	8,695	10,879	11,642
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Comprehensive income	6,677	8,695	10,879	11,642
Assets [Abstract]
Assets	259,669		259,669		311,469
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Goodwill	16,853		16,853		16,853
Operating Segments | Texas
Revenues [Abstract]
Consolidated revenues	362,110	305,068	640,037	580,492
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract]
Net and comprehensive income	39,815	31,364	67,472	54,919
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Comprehensive income	39,815	31,364	67,472	54,919
Assets [Abstract]
Assets	660,045		660,045		793,219
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Goodwill	141,071		141,071		141,071
Operating Segments | Jet Home Loans
Revenues [Abstract]
Consolidated revenues	8,647	6,695	17,062	13,653
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract]
Net and comprehensive income	4,310	2,908	8,962	6,003
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Comprehensive income	4,310	2,908	8,962	6,003
Assets [Abstract]
Assets	73,864		73,864		96,108
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Goodwill	0		0		0
Operating Segments | Other Segments
Revenues [Abstract]
Consolidated revenues	107,101	89,134	188,714	174,366
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract]
Net and comprehensive income	765	(269)	4,395	1,321
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Comprehensive income	765	(269)	4,395	1,321
Assets [Abstract]
Assets	565,931		565,931		494,150
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Goodwill	12,488		12,488		12,488
Reconciling items from equity method investments
Revenues [Abstract]
Consolidated revenues	(8,647)	(6,695)	(17,062)	(13,653)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract]
Net and comprehensive income	(2,159)	(1,457)	(4,490)	(3,086)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Comprehensive income	(2,159)	$ (1,457)	(4,490)	$ (3,086)
Assets [Abstract]
Assets	(65,556)		(65,556)		(88,833)
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Goodwill	$ 0		$ 0		$ 0

Fair Value Disclosures (Details

Fair Value Disclosures (Details) - Fair Value, Inputs, Level 3 $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance, December 31, 2022	$ 115,128
Fair value adjustments related to prior year acquisitions	23,582
Contingent consideration payments	(45,210)
Ending balance, June 30, 2023	$ 93,500

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	1 Months Ended	6 Months Ended	12 Months Ended
	Jan. 31, 2022 USD ($)	Jun. 30, 2023 USD ($) lot Project JointVenture	Dec. 31, 2022 USD ($)	Dec. 31, 2019 USD ($)
DF Capital
Consolidated Joint Ventures [Abstract]
Percentage of ownership interest		49%
Payments to acquire projects		$ 0.2
Outstanding lot deposits		$ 58.1	$ 58.6
Number of lots controlled | lot		4,800
DF Management GP II, LLC
Consolidated Joint Ventures [Abstract]
Percentage of ownership interest		25.80%
Investment company, committed capital	$ 322.1
Fund I
Consolidated Joint Ventures [Abstract]
Investment company, committed capital				$ 36.7
Number of joint ventures entered | JointVenture		6
Number of land bank projects | Project		10
Dream Finders Homes LLC and DFH Investors LLC
Consolidated Joint Ventures [Abstract]
Investment company, committed capital				$ 1.4
Committed capital ratio				3.80%
Fund II
Consolidated Joint Ventures [Abstract]
Percentage of ownership interest		72%
Investment company, committed capital		$ 3
Committed capital ratio		0.90%
Jet Home Loans
Consolidated Joint Ventures [Abstract]
Percentage of ownership interest		49.90%
Directors Executive Officers and Management | Fund II
Consolidated Joint Ventures [Abstract]
Investment company, committed capital		$ 133.9
Committed capital ratio		41.60%
Directors Executive Officers and Management | Rockpoint Group LLC
Consolidated Joint Ventures [Abstract]
Investment company, committed capital		$ 100

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator
Net and comprehensive income attributable to Dream Finders Homes, Inc.	$ 68,764	$ 62,624	$ 117,853	$ 106,340
Less: Preferred dividends	3,595	3,616	7,184	7,195
Net and comprehensive income available to common stockholders	$ 65,169	$ 59,008	$ 110,669	$ 99,145
Denominator
Weighted-average number of shares outstanding - basic (in shares)	93,108,277	92,758,939	93,025,626	92,758,939
Add: Common stock equivalent shares (in shares)	12,331,242	11,807,304	14,679,233	10,772,621
Weighted-average number of shares outstanding - diluted (in shares)	105,439,519	104,566,243	107,704,859	103,531,560
Diluted earnings	$ 3,400	$ 6,800	$ 3,400	$ 6,800
Shares excluded from diluted earnings per share calculation (in shares)	0	900,000	1,200,000	700,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands		6 Months Ended
	Jul. 19, 2023	Jun. 30, 2023	Jul. 18, 2023	Jun. 02, 2022
Line of Credit | Variable Rate, Highest Option, Three
Subsequent Event [Line Items]
Basis spread on variable rate		1%
Line of Credit | Fed Funds Effective Rate Overnight Index Swap Rate | Variable Rate, Highest Option, One
Subsequent Event [Line Items]
Basis spread on variable rate		0.50%
Line of Credit | Secured Overnight Financing Rate | Variable Rate, Highest Option, Two
Subsequent Event [Line Items]
Basis spread on variable rate		1%
Minimum | Line of Credit | Base Rate
Subsequent Event [Line Items]
Basis spread on variable rate		1.50%
Minimum | Line of Credit | Secured Overnight Financing Rate | Variable Rate, Highest Option, Four
Subsequent Event [Line Items]
Basis spread on variable rate		2.50%
Maximum | Line of Credit | Base Rate
Subsequent Event [Line Items]
Basis spread on variable rate		2.60%
Maximum | Line of Credit | Secured Overnight Financing Rate | Variable Rate, Highest Option, Four
Subsequent Event [Line Items]
Basis spread on variable rate		3.60%
Subsequent Event
Subsequent Event [Line Items]
Banking regulation, tangible capital, minimum	$ 607,000		$ 385,000
Subsequent Event | Line of Credit | Variable Rate, Highest Option, Three
Subsequent Event [Line Items]
Basis spread on variable rate	1%
Subsequent Event | Line of Credit | Fed Funds Effective Rate Overnight Index Swap Rate | Variable Rate, Highest Option, One
Subsequent Event [Line Items]
Basis spread on variable rate	0.50%
Subsequent Event | Line of Credit | Secured Overnight Financing Rate | Variable Rate, Highest Option, One
Subsequent Event [Line Items]
Basis spread adjustment on variable rate	0.10%
Subsequent Event | Line of Credit | Secured Overnight Financing Rate | Variable Rate, Highest Option, Two
Subsequent Event [Line Items]
Basis spread on variable rate	1%
Subsequent Event | Line of Credit | Secured Overnight Financing Rate | Variable Rate, Highest Option, Three
Subsequent Event [Line Items]
Basis spread adjustment on variable rate	0.25%
Subsequent Event | Line of Credit | Secured Overnight Financing Rate | Variable Rate, Highest Option, Four
Subsequent Event [Line Items]
Basis spread adjustment on variable rate	0.15%
Subsequent Event | Minimum | Line of Credit | Base Rate
Subsequent Event [Line Items]
Basis spread on variable rate	1.50%
Subsequent Event | Minimum | Line of Credit | Secured Overnight Financing Rate | Variable Rate, Highest Option, Four
Subsequent Event [Line Items]
Basis spread on variable rate	2.50%
Subsequent Event | Maximum | Line of Credit | Base Rate
Subsequent Event [Line Items]
Basis spread on variable rate	2.30%
Subsequent Event | Maximum | Line of Credit | Secured Overnight Financing Rate | Variable Rate, Highest Option, Four
Subsequent Event [Line Items]
Basis spread on variable rate	3.30%
Bank of America, N.A. and Other Lenders
Subsequent Event [Line Items]
Line of credit maximum borrowing base				$ 1,100,000
Accordion feature, increase limit				$ 1,600,000
Bank of America, N.A. and Other Lenders | Subsequent Event
Subsequent Event [Line Items]
Line of credit maximum borrowing base	$ 1,200,000		$ 1,100,000
Accordion feature, increase limit	$ 1,600,000