M/I Homes (MHO) 10-Q 27 Jul 18 2018 Q2 Quarterly report Financial data

DEI Document

DEI Document - shares	6 Months Ended
	Jun. 30, 2018	Jul. 25, 2018
Entity Information [Line Items]
Entity Registrant Name	M I HOMES INC
Entity Central Index Key	799,292
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		28,570,853

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
ASSETS:
Cash, cash equivalents and restricted cash	$ 67,817	$ 151,703
Mortgage loans held for sale	108,000	171,580
Inventory	1,652,468	1,414,574
Property and equipment - net	28,885	26,816
Investment in joint venture arrangements	13,753	20,525
Deferred income tax asset	17,528	18,438
Goodwill	16,400	0
Other assets	65,689	61,135
Total assets	1,970,540	1,864,771
LIABILITIES:
Accounts payable	141,491	117,233
Customer deposits	41,510	26,378
Other liabilities	117,022	131,534
Community development district obligations	11,789	13,049
Obligation for consolidated inventory not owned	14,794	21,545
Notes payable bank - homebuilding operations	181,800	0
Notes payable bank - financial service operations	93,163	168,195
Notes payable - other	9,362	10,576
Convertible senior subordinated notes due 2018 - net	0	86,132
Senior notes due 2021 - net	297,332	296,780
Senior notes due 2025 - net	246,311	246,051
TOTAL LIABILITIES	1,154,574	1,117,473
Commitments and contingencies (Note 6)	0	0
SHAREHOLDERS' EQUITY:
Common shares - $.01 par value; authorized 58,000,000 shares at both June 30, 2018 and December 31, 2017; issued 30,137,141 and 29,508,626 shares at June 30, 2018 and December 31, 2017, respectively	301	295
Additional paid-in capital	327,470	306,483
Retained earnings	519,303	473,329
Treasury shares - at cost - 1,566,288 and 1,651,874 shares at June 30, 2018 and December 31, 2017, respectively	(31,108)	(32,809)
TOTAL SHAREHOLDERS' EQUITY	815,966	747,298
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,970,540	$ 1,864,771

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Parentheticals - Balance Sheet [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	58,000,000	58,000,000
Common Stock, Shares, Issued	30,137,141	29,508,626
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	2,000,000	2,000,000
Preferred Stock, Shares Issued	0	2,000
Preferred Stock, Shares Outstanding	0	2,000
Treasury Stock, Shares	1,566,288	1,651,874

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Costs and Expenses [Abstract]
Revenue	$ 558,098	$ 456,866	$ 995,955	$ 863,846
Land and housing	449,336	367,598	798,038	687,879
General and administrative	34,666	30,112	62,617	57,872
Selling	35,591	30,247	65,654	57,530
Acquisition and integration costs	0	0	1,700	0
Equity in loss (income) from joint venture arrangements	86	(110)	(224)	(127)
Interest	4,888	3,834	10,766	9,172
Total costs and expenses	524,567	431,681	938,551	812,326
Income before income taxes	33,531	25,185	57,404	51,520
Provision for income taxes	5,620	8,196	11,430	17,648
Net income	27,911	16,989	45,974	33,872
Preferred Dividends	0	1,219	0	2,438
Net income to common shareholders	$ 27,911	$ 15,770	$ 45,974	$ 31,434
Earnings per common share:
Basic	$ 0.98	$ 0.63	$ 1.62	$ 1.26
Diluted	$ 0.96	$ 0.55	$ 1.56	$ 1.09
Weighted Average Number of Shares Outstanding [Abstract]
Basic	28,571	24,990	28,349	24,864
Diluted	29,101	30,619	29,818	30,471

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Shareholders' Equity - 6 months ended Jun. 30, 2018 - USD ($) $ in Thousands	Total	Common Shares [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Shares [Member]
Shares Outstanding, Beginning Balance at Dec. 31, 2017		27,856,752
Stockholders' Equity, Beginning Balance at Dec. 31, 2017	$ 747,298	$ 295	$ 306,483	$ 473,329	$ (32,809)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	45,974			45,974
Proceeds from issuance of common shares for conversion of convertible notes	20,309	$ 6	20,303
Common shares issued for conversion of convertible notes		628,515
Stock options exercised, shares		24,220
Stock options exercised	426		(56)		482
Stock-based compensation expense	2,730		2,730
Deferral of executive and director compensation	184		184
Executive and director deferred compensation distributions shares		61,366
Executive and director deferred compensation distributions	(955)		(2,174)		1,219
Shares Outstanding, Ending Balance at Jun. 30, 2018		28,570,853
Stockholders' Equity, Ending Balance at Jun. 30, 2018	$ 815,966	$ 301	$ 327,470	$ 519,303	$ (31,108)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
OPERATING ACTIVITIES:
Net income	$ 45,974	$ 33,872
Adjustments to reconcile net income to net cash used in operating activities:
Equity in loss (income) from joint venture arrangements	(224)	(127)
Mortgage loan originations	(519,802)	(468,832)
Proceeds from the sale of mortgage loans	584,700	535,256
Fair value adjustment of mortgage loans held for sale	(1,318)	(4,390)
Capitalization of originated mortgage servicing rights	(2,486)	(2,239)
Amortization of mortgage servicing rights	383	546
Depreciation	5,278	4,608
Amortization of debt discount and debt issue costs	1,443	1,712
Stock-based compensation expense	2,730	2,566
Deferred income tax expense	910	797
Change in assets and liabilities:
Inventory	(137,689)	(146,171)
Other assets	(4,166)	1,897
Accounts payable	13,730	9,860
Customer deposits	10,976	7,499
Accrued compensation	(15,467)	(13,415)
Other liabilities	(4,673)	(2,759)
Net cash (used in) provided by operating activities	(19,701)	(39,320)
INVESTING ACTIVITIES:
Purchase of property and equipment	(4,615)	(1,872)
Return of capital from Investment in joint venture arrangements	676	1,078
Acquisition	(100,960)	0
Cash contributions to joint venture arrangements	(4,321)	(5,807)
Net proceeds from sale of mortgage servicing rights	5,111	7,558
Net cash provided by (used in) investing activities	(104,109)	957
FINANCING ACTIVITIES:
Repayments of 2018 Convertible Notes	(65,941)	0
Proceeds from bank borrowings - homebuilding operations	353,900	289,400
Principal repayments of bank borrowings - homebuilding operations	(172,100)	(191,700)
Net repayment of bank borrowings - financial services operations	(75,032)	(63,377)
(Principal repayment of) proceeds from notes payable - other and community development district bond obligations	(1,214)	(2,752)
Dividends paid on preferred shares	0	(2,438)
Debt issue costs	(115)	(63)
Proceeds from exercise of stock options	426	4,792
Net cash (used in) provided by financing activities	39,924	33,862
Net increase (decrease) in cash and cash equivalents	(83,886)	(4,501)
Cash and cash equivalents balance at beginning of period	151,703	34,441
Cash and cash equivalents balance at end of period	67,817	29,940
SUPPLEMENTAL DISCLOSURE OF CASH PAID DURING THE YEAR:
Interest — net of amount capitalized	9,643	7,381
Income taxes	10,176	17,770
NON-CASH TRANSACTIONS DURING THE PERIOD
Community development district infrastructure	(1,260)	5,399
Consolidated inventory not owned	(6,751)	4,735
Distribution of single-family lots from joint venture arrangements	10,641	9,995
Common stock issued for conversion of convertible notes	$ 20,309	$ 0

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Basis of Presentation [Abstract]
Basis of Accounting [Text Block]	Basis of Presentation The accompanying Unaudited Condensed Consolidated Financial Statements (the “financial statements”) of M/I Homes, Inc. and its subsidiaries (the “Company”) and notes thereto have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. The financial statements include the accounts of the Company. All intercompany transactions have been eliminated. Results for the interim period are not necessarily indicative of results for a full year. In the opinion of management, the accompanying financial statements reflect all adjustments (all of which are normal and recurring in nature) necessary for a fair presentation of financial results for the interim periods presented. These financial statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 (the “ 2017 Form 10-K”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during that period. Actual results could differ from these estimates and have a significant impact on the financial condition and results of operations and cash flows. With regard to the Company, estimates and assumptions are inherent in calculations relating to valuation of inventory and investment in unconsolidated joint ventures, property and equipment depreciation, valuation of derivative financial instruments, accounts payable on inventory, accruals for costs to complete inventory, accruals for warranty claims, accruals for self-insured general liability claims, litigation, accruals for health care and workers’ compensation, accruals for guaranteed or indemnified loans, stock-based compensation expense, income taxes, and contingencies. Items that could have a significant impact on these estimates and assumptions include the risks and uncertainties listed in “Item 1A. Risk Factors” in Part I of our 2017 Form 10-K and “Item 1A. Risk Factors” in Part II of this Quarterly Report on Form 10-Q, as the same may be updated from time to time in our subsequent filings with the SEC. Significant Accounting Policies We believe that there have been no significant changes to our significant accounting policies during the quarter ended June 30, 2018 as compared to those disclosed in our 2017 Form 10-K, other than the changes described below. Revenue Recognition. On January 1, 2018, we adopted ASC 606, Revenue from Contracts from Customers (“ASC 606”), using the modified retrospective transition method, which includes a cumulative catch-up in retained earnings on the initial date of adoption for existing contracts (those that are not completed) as of, and new contracts after, January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under ASC 605, Revenue Recognition (“ASC 605”) . We did not have any material adjustments to our 2018 results under ASC 606. Revenue from the sale of a home and revenue from the sale of land to third parties is recognized in the financial statements on the date of closing (point in time) if delivery has occurred, title has passed, all performance obligations have been met (please see definition of performance obligations below), and control of the home or land is transferred to the buyer in an amount that reflects the consideration we expect to be entitled to in exchange for the home or land. We recognize the majority of the revenue associated with our mortgage loan operations when the mortgage loans are sold and/or related servicing rights are sold to third party investors or retained and managed under a third party subservice arrangement. The revenue recognized is reduced by the fair value of the related guarantee provided to the investor. The fair value of the guarantee is recognized in revenue when the Company is released from its obligation under the guarantee (note that guarantees are excluded from the scope of ASC 606). We recognize financial services revenue associated with our title operations as homes are delivered, closing services are rendered, and title policies are issued, all of which generally occur simultaneously as each home is delivered. All of the underwriting risk associated with title insurance policies is transferred to third-party insurers. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. All of our contracts to sell homes have a single performance obligation as the promise to transfer the home is not separately identifiable from other promises in the contract and, therefore, not distinct. Our third party land contracts may include multiple performance obligations; however, revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, is not material. We generally expense sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within general, selling and administrative expenses as part of our sales and marketing expenses. We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. The following table presents our revenues disaggregated by geography: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 (a) 2017 2018 2017 Midwest homebuilding $ 226,902 $ 168,469 $ 385,522 $ 314,891 Southern homebuilding 237,582 178,780 427,970 328,145 Mid-Atlantic homebuilding 81,738 97,749 155,561 194,635 Financial services (b) 11,876 11,868 26,902 26,175 Total revenue $ 558,098 $ 456,866 $ 995,955 $ 863,846 (a) As noted above, prior period amounts have not been adjusted under the cumulative catch-up transition method. (b) Revenues include $0.2 million related to hedging gains for the three months ended June 30, 2018 and $2.0 million related to hedging losses for the three months ended June 30, 2017 . Revenues include $3.2 million and $2.6 million related to hedging gains for the six months ended June 30, 2018 and 2017 , respectively. Hedging gains (losses) do not represent revenues recognized from contracts with customers. The following table presents our revenues disaggregated by revenue source: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2018 (a) 2017 2018 2017 Housing $ 545,034 $ 443,093 $ 963,458 $ 830,551 Land sales 1,188 1,905 5,595 7,120 Financial services (b) 11,876 11,868 26,902 26,175 Total revenue $ 558,098 $ 456,866 $ 995,955 $ 863,846 (a) As noted above, prior period amounts have not been adjusted under the cumulative catch-up transition method. (b) Revenues include $0.2 million related to hedging gains for the three months ended June 30, 2018 and $2.0 million related to hedging losses for the three months ended June 30, 2017 . Revenues include $3.2 million and $2.6 million related to hedging gains for the six months ended June 30, 2018 and 2017 , respectively. Hedging gains (losses) do not represent revenues recognized from contracts with customers. Goodwill. Goodwill represents the excess of the purchase price paid over the fair value of the net assets acquired and liabilities assumed in business combinations. Because the purchase price allocation is subject to change within a measurement period of up to one year from the acquisition date pursuant to ASC 805, in connection with the Company’s acquisition of the homebuilding assets and operations of Pinnacle Homes in Detroit, Michigan, the Company recorded a provisional amount of goodwill of approximately $16.4 million as of June 30, 2018 , which is included as Goodwill in our Unaudited Condensed Consolidated Balance Sheets. This provisional amount was based on the estimated fair values of the acquired assets and assumed liabilities at the date of the acquisition in accordance with ASC 350, Intangibles, Goodwill and Other (“ASC 350”). Please see Note 7 to our financial statements for further discussion. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment , which eliminates Step 2 from the goodwill impairment test in order to simplify the subsequent measurement of goodwill. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. As a result of this ASU, the Company will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. ASU 2017-04 is effective beginning January 1, 2020, with early adoption permitted, and applied prospectively. The Company has elected to early adopt this ASU effective for the current reporting period in its impairment testing and analyses. The Company’s goodwill is described in Note 7 to our financial statements. In accordance with ASC 350, the Company analyzes goodwill for impairment on an annual basis (or more often if indicators of impairment exist). The Company performs a qualitative assessment to determine whether the existence of events or circumstances leads to a determination that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. When performing a qualitative assessment, the Company evaluates qualitative factors such as (1) macroeconomic conditions, such as a deterioration in general economic conditions; (2) industry and market considerations such as deterioration in the environment in which the entity operates; (3) cost factors such as increases in raw materials and labor costs; and (4) overall financial performance such as negative or declining cash flows or a decline in actual or planned revenue or earnings, to determine if it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount. If the qualitative assessment indicates that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount, then a quantitative assessment is performed to determine the reporting unit’s fair value. If the reporting unit’s carrying value exceeds its fair value, then an impairment loss is recognized for the amount of the excess of the carrying amount over the reporting unit’s fair value. The evaluation of goodwill for possible impairment includes estimating fair value using one or a combination of valuation techniques, such as discounted cash flows. These valuations require the Company to make estimates and assumptions regarding future operating results, cash flows, changes in capital expenditures, selling prices, profitability, and the cost of capital. Although the Company believes its assumptions and estimates are reasonable, deviations from the assumptions and estimates could produce a materially different result. Recently Adopted Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in ASC 605 and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, “Revenue Recognition-Construction-Type and Production-Type Contracts.” ASU 2014-09’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date , which delayed the effective date of ASU 2014-09 by one year. ASU 2014-09, as amended, is effective for public companies for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Subsequent to the issuance of ASU 2014-09, the FASB has issued several ASUs, such as ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net) , ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing , and ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients . These ASUs do not change the core principle of the guidance stated in ASU 2014-09. Instead, these amendments are intended to clarify and improve the operability of certain topics addressed by ASU 2014-09. These additional ASUs have the same effective date and transition requirements as ASU 2014-09, as amended. We adopted the standard, and the subsequently issued standards mentioned above, on January 1, 2018 using the modified retrospective transition method, which includes a cumulative catch-up in retained earnings on the initial date of adoption for existing contracts (those that are not completed) as of, and new contracts after, January 1, 2018. The adoption did not have a material impact on our consolidated financial statements. The amount and timing of our housing and land revenue remained substantially unchanged, and we did not have significant changes to our business processes, systems, or internal controls as a result of adopting the standard. The Company has developed the additional expanded disclosures required (please see our Significant Accounting Policies section above); however, the adoption did not have a material impact on its consolidated results of operations, financial position and cash flows. In February 2017, the FASB issued ASU 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (“ASU 2017-05”). ASU 2017-05 is intended to clarify the scope of the original guidance within Subtopic 610-20 that was issued in connection with ASU 2014-09, which provides guidance for recognizing gains and losses from the transfer of nonfinancial assets in contracts with noncustomers. ASU 2017-05 additionally added guidance for partial sales of nonfinancial assets. ASU 2017-05 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. We were required to adopt ASU 2017-05 concurrent with the adoption of ASU 2014-09. The adoption of ASU 2017-05 did not have a material impact on the Company’s consolidated financial statements and disclosures. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). ASU 2016-15 provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. For public entities, ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2016-15 did not modify the Company's current disclosures within the condensed consolidated statement of cash flows and did not have any impact on the Company’s consolidated financial statements and disclosures. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”), which provides a more robust framework for determining whether transactions should be accounted for as acquisitions (or dispositions) of assets or businesses. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company adopted the standard on January 1, 2018. The adoption of ASU 2017-01 did not have an impact on the Company’s consolidated financial statements and disclosures as the Company’s acquisition during the first quarter of 2018 met all requirements to be accounted for as a business acquisition. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment , which eliminates Step 2 from the goodwill impairment test in order to simplify the subsequent measurement of goodwill. The guidance is effective for fiscal years beginning after December 15, 2019. Early application is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company adopted the standard on January 1, 2018. The adoption of ASU 2017-04 did not have an impact on the Company’s consolidated financial statements and disclosures as it will perform its annual goodwill impairment analysis during the fourth quarter of 2018 (as no indicators for impairment existed at June 30, 2018 ). Impact of New Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”). ASU 2016-02 will require organizations that lease assets - referred to as “lessees” - to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Under ASU 2016-02, a lessee will be required to recognize assets and liabilities for leases with lease terms of more than 12 months. Lessor accounting remains substantially similar to current GAAP. In addition, disclosures of leasing activities will be expanded to include qualitative and specific quantitative information. For public entities, ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2016-02 mandates a modified retrospective transition method. The Company continues to evaluate the potential impact the adoption of ASU 2016-02 will have on the Company’s consolidated financial statements and disclosures; however, because a large majority of our leases are for office space, which we have determined will be treated as operating leases under ASU 2016-02, we anticipate recording a right-of-use asset and related lease liability for these leases, but do not expect our expense recognition pattern to change. In March 2017, the FASB issued ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities (“ASU 2017-08”), which shortens the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. For public entities, ASU 2017-08 is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company does not believe the adoption of ASU 2017-08 will have a material impact on the Company’s consolidated financial statements and disclosures. In January 2018, the FASB issued ASU 2018-01, Land Easement Practical Expedient for Transition to Topic 842 (ASU 2018-01”), which provides an optional transition practical expedient to not evaluate under Topic 842 existing or expired land easements that were not previously accounted for as leases under the current lease guidance in Topic 840. An entity that elects this practical expedient should evaluate new or modified land easements under Topic 842 beginning at the date the entity adopts Topic 842; otherwise, an entity should evaluate all existing or expired land easements in connection with the adoption of the new lease requirements in Topic 842 to assess whether they meet the definition of a lease. The effective date and transition requirements for the amendments are the same as the effective date and transition requirements in ASU 2016-02. This ASU is not expected to have a significant impact on the Company's expected impact of the adoption of ASU 2016-02 (discussed above) or its consolidated financial statements and disclosures. In March 2018, the FASB issued ASU 2018-05, which amends Income Taxes (Topic 740) by incorporating the Securities and Exchange Commission’s (“SEC”) Staff Accounting Bulletin 118 (“SAB 118”) issued on December 22, 2017. SAB 118 provides guidance on accounting for the effects of the Tax Cuts and Jobs Act of 2017 (the “Tax Act”). We recognized the income tax effects of the Tax Act in our 2017 financial statements in accordance with SAB 118. Please see Note 10 to our financial statements for additional disclosures.

Inventory and Capitalized Inter

Inventory and Capitalized Interest	6 Months Ended
	Jun. 30, 2018
Inventory [Abstract]
Inventory Disclosure [Text Block]	Inventory and Capitalized Interest Inventory Inventory is recorded at cost, unless events and circumstances indicate that the carrying value of the land is impaired, at which point the inventory is written down to fair value (please see Note 4 to our financial statements for additional details relating to our procedures for evaluating our inventories for impairment). Inventory includes the costs of land acquisition, land development and home construction, capitalized interest, real estate taxes, direct overhead costs incurred during development and home construction, and common costs that benefit the entire community, less impairments, if any. A summary of the Company’s inventory as of June 30, 2018 and December 31, 2017 is as follows: (In thousands) June 30, 2018 December 31, 2017 Single-family lots, land and land development costs $ 740,972 $ 687,260 Land held for sale 12,715 6,491 Homes under construction 757,478 579,051 Model homes and furnishings - at cost (less accumulated depreciation: June 30, 2018 - $13,711; December 31, 2017 - $12,715) 80,901 74,622 Community development district infrastructure 11,789 13,049 Land purchase deposits 33,820 32,556 Consolidated inventory not owned 14,793 21,545 Total inventory $ 1,652,468 $ 1,414,574 Single-family lots, land and land development costs include raw land that the Company has purchased to develop into lots, costs incurred to develop the raw land into lots, and lots for which development has been completed, but which have not yet been used to start construction of a home. Homes under construction include homes that are in various stages of construction. As of June 30, 2018 and December 31, 2017 , we had 1,272 homes (with a carrying value of $243.0 million ) and 1,134 homes (with a carrying value of $242.7 million ), respectively, included in homes under construction that were not subject to a sales contract. Model homes and furnishings include homes that are under construction or have been completed and are being used as sales models. The amount also includes the net book value of furnishings included in our model homes. Depreciation on model home furnishings is recorded using an accelerated method over the estimated useful life of the assets, which is typically three years. We own lots in certain communities in Florida that have Community Development Districts (“CDDs”). The Company records a liability for the estimated developer obligations that are probable and estimable and user fees that are required to be paid or transferred at the time the parcel or unit is sold to an end user. The Company reduces this liability at the time of closing and the transfer of the property. The Company recorded a $11.8 million and $13.0 million liability related to these CDD bond obligations as of June 30, 2018 and December 31, 2017 , respectively, along with the related inventory infrastructure. Land purchase deposits include both refundable and non-refundable amounts paid to third party sellers relating to the purchase of land. On an ongoing basis, the Company evaluates the land option agreements relating to the land purchase deposits. In the period during which the Company makes the decision not to proceed with the purchase of land under an agreement, the Company expenses any deposits and accumulated pre-acquisition costs relating to such agreement. Capitalized Interest The Company capitalizes interest during land development and home construction. Capitalized interest is charged to land and housing costs and expensed as the related inventory is delivered to a third party. The summary of capitalized interest for the three and six months ended June 30, 2018 and 2017 is as follows : Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Capitalized interest, beginning of period $ 18,264 $ 16,008 $ 17,169 $ 16,012 Interest capitalized to inventory 7,191 5,300 13,150 9,062 Capitalized interest charged to land and housing costs and expenses (6,203 ) (4,843 ) (11,067 ) (8,609 ) Capitalized interest, end of period $ 19,252 $ 16,465 $ 19,252 $ 16,465 Interest incurred $ 12,079 $ 9,134 $ 23,916 $ 18,234

Investment in Joint Venture Arr

Investment in Joint Venture Arrangements (Notes)	6 Months Ended
	Jun. 30, 2018
Schedule of Equity Method Investments [Line Items]
Equity Method Investments and Joint Venture Arrangements Disclosure [Text Block]	Investment in Joint Venture Arrangements Investment in Joint Venture Arrangements In order to minimize our investment and risk of land exposure in a single location, we have periodically partnered with other land developers or homebuilders to share in the land investment and development of a property through joint ownership and development agreements, joint ventures, and other similar arrangements. During the six-month period ended June 30, 2018 , we decreased our total investment in such joint venture arrangements by $6.7 million from $20.5 million at December 31, 2017 to $13.8 million at June 30, 2018 , which was driven primarily by our increased lot distributions from unconsolidated joint ventures of $10.6 million , offset, in part, by our cash contributions to our unconsolidated joint ventures during the first half of 2018 of $4.3 million . We believe that the Company’s maximum exposure related to its investment in these joint venture arrangements as of June 30, 2018 is the amount invested of $13.8 million , which is reported as Investment in Joint Venture Arrangements on our Unaudited Condensed Consolidated Balance Sheets, although we expect to invest further amounts in these joint venture arrangements as development of the properties progresses. We use the equity method of accounting for investments in unconsolidated joint ventures over which we exercise significant influence but do not have a controlling interest. Under the equity method, our share of the unconsolidated joint ventures’ earnings or loss, if any, is included in our consolidated statement of income. The Company assesses its investments in unconsolidated joint ventures for recoverability on a quarterly basis. Please see Note 4 to our financial statements for additional details relating to our procedures for evaluating our investments for impairment. For joint venture arrangements where a special purpose entity is established to own the property, we generally enter into limited liability company or similar arrangements (“LLCs”) with the other partners. The Company’s ownership in these LLCs as of both June 30, 2018 and December 31, 2017 ranged from 25% to 97% . These entities typically engage in land development activities for the purpose of distributing or selling developed lots to the Company and its partners in the LLC. Variable Interest Entities With respect to our investments in these LLCs, we are required, under ASC 810-10, Consolidation (“ASC 810”), to evaluate whether or not such entities should be consolidated into our consolidated financial statements. We initially perform these evaluations when each new entity is created and upon any events that require reconsideration of the entity. Please see Note 1, “Summary of Significant Accounting Policies - Variable Interest Entities” in the Company’s 2017 Form 10-K for additional information regarding the Company’s methodology for evaluating entities for consolidation. Land Option Agreements In the ordinary course of business, the Company enters into land option or purchase agreements for which we generally pay non-refundable deposits. Pursuant to these land option agreements, the Company provides a deposit to the seller as consideration for the right to purchase land at different times in the future, usually at predetermined prices. In accordance with ASC 810, we analyze our land option or purchase agreements to determine whether the corresponding land sellers are variable interest entities (“VIEs”) and, if so, whether we are the primary beneficiary, as further described in Note 1, “Summary of Significant Accounting Policies - Land Option Agreements” in the Company’s 2017 Form 10-K. If we are deemed to be the primary beneficiary of the VIE, we will consolidate the VIE in our consolidated financial statements and reflect such assets and liabilities in our Consolidated Inventory not Owned in our Unaudited Condensed Consolidated Balance Sheets. At both June 30, 2018 and December 31, 2017 , we concluded that we were not the primary beneficiary of any VIEs from which we are purchasing land under option or purchase agreements.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Measurements [Abstract]
Fair Value Disclosures [Text Block]	Fair Value Measurements There are three measurement input levels for determining fair value: Level 1, Level 2, and Level 3. Fair values determined by Level 1 inputs utilize quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Assets Measured on a Recurring Basis The Company measures both mortgage loans held for sale and interest rate lock commitments (“IRLCs”) at fair value. Fair value measurement results in a better presentation of the changes in fair values of the loans and the derivative instruments used to economically hedge them. In the normal course of business, our financial services segment enters into contractual commitments to extend credit to buyers of single-family homes with fixed expiration dates. The commitments become effective when the borrowers “lock-in” a specified interest rate within established time frames. Market risk arises if interest rates move adversely between the time of the “lock-in” of rates by the borrower and the sale date of the loan to an investor. To mitigate the effect of the interest rate risk inherent in providing rate lock commitments to borrowers, the Company enters into optional or mandatory delivery forward sale contracts to sell whole loans and mortgage-backed securities to broker/dealers. The forward sale contracts lock in an interest rate and price for the sale of loans similar to the specific rate lock commitments. The Company does not engage in speculative trading or derivative activities. Both the rate lock commitments to borrowers and the forward sale contracts to broker/dealers or investors are undesignated derivatives, and accordingly, are marked to fair value through earnings. Changes in fair value measurements are included in earnings in the accompanying statements of income. The fair value of mortgage loans held for sale is estimated based primarily on published prices for mortgage-backed securities with similar characteristics. To calculate the effects of interest rate movements, the Company utilizes applicable published mortgage-backed security prices, and multiplies the price movement between the rate lock date and the balance sheet date by the notional loan commitment amount. The Company sells loans on a servicing released or servicing retained basis, and receives servicing compensation. Thus, the value of the servicing rights included in the fair value measurement is based upon contractual terms with investors and depends on the loan type. The Company applies a fallout rate to IRLCs when measuring the fair value of rate lock commitments. Fallout is defined as locked loan commitments for which the Company does not close a mortgage loan and is based on management’s judgment and company experience. The fair value of the Company’s forward sales contracts to broker/dealers solely considers the market price movement of the same type of security between the trade date and the balance sheet date. The market price changes are multiplied by the notional amount of the forward sales contracts to measure the fair value. Interest Rate Lock Commitments. IRLCs are extended to certain home-buying customers who have applied for a mortgage loan and meet certain defined credit and underwriting criteria. Typically, the IRLCs will have a term of less than six months; however, in certain markets, the term could extend to nine months. Some IRLCs are committed to a specific third party investor through the use of whole loan delivery commitments matching the exact terms of the IRLC loan. Uncommitted IRLCs are considered derivative instruments and are fair value adjusted, with the resulting gain or loss recorded in current earnings. Forward Sales of Mortgage-Backed Securities. Forward sales of mortgage-backed securities (“FMBSs”) are used to protect uncommitted IRLC loans against the risk of changes in interest rates between the lock date and the funding date. FMBSs related to uncommitted IRLCs are classified and accounted for as non-designated derivative instruments and are recorded at fair value, with gains and losses recorded in current earnings. Mortgage Loans Held for Sale. Mortgage loans held for sale consists primarily of single-family residential loans collateralized by the underlying property. Generally, all of the mortgage loans and related servicing rights are sold to third-party investors shortly after origination. During the period between when a loan is closed and when it is sold to an investor, the interest rate risk is covered through the use of a whole loan contract or by FMBSs. The table below shows the notional amounts of our financial instruments at June 30, 2018 and December 31, 2017 : Description of Financial Instrument (in thousands) June 30, 2018 December 31, 2017 Whole loan contracts and related committed IRLCs $ 5,330 $ 2,182 Uncommitted IRLCs 123,897 50,746 FMBSs related to uncommitted IRLCs 126,000 53,000 Whole loan contracts and related mortgage loans held for sale 8,992 80,956 FMBSs related to mortgage loans held for sale 97,000 91,000 Mortgage loans held for sale covered by FMBSs 97,281 90,781 The table below shows the level and measurement of assets and liabilities measured on a recurring basis at June 30, 2018 and December 31, 2017 : Description of Financial Instrument (in thousands) Fair Value Measurements June 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage loans held for sale $ 108,000 $ — $ 108,000 $ — Forward sales of mortgage-backed securities (783 ) — (783 ) — Interest rate lock commitments 1,104 — 1,104 — Whole loan contracts (122 ) — (122 ) — Total $ 108,199 $ — $ 108,199 $ — Description of Financial Instrument (in thousands) Fair Value Measurements December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage loans held for sale $ 171,580 $ — $ 171,580 $ — Forward sales of mortgage-backed securities 177 — 177 — Interest rate lock commitments 271 — 271 — Whole loan contracts 12 — 12 — Total $ 172,040 $ — $ 172,040 $ — The following table sets forth the amount of gain (loss) recognized, within our revenue in the Unaudited Condensed Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the three and six months ended June 30, 2018 and 2017 : Three Months Ended June 30, Six Months Ended June 30, Description (in thousands) 2018 2017 2018 2017 Mortgage loans held for sale $ 642 $ (484 ) $ 1,317 $ 4,390 Forward sales of mortgage-backed securities (658 ) 1,280 (960 ) 369 Interest rate lock commitments 138 (748 ) 843 94 Whole loan contracts (61 ) 305 (144 ) 71 Total gain recognized $ 61 $ 353 $ 1,056 $ 4,924 The following tables set forth the fair value of the Company’s derivative instruments and their location within the Unaudited Condensed Consolidated Balance Sheets for the periods indicated (except for mortgage loans held for sale which is disclosed as a separate line item): Asset Derivatives Liability Derivatives June 30, 2018 June 30, 2018 Description of Derivatives Balance Sheet Location Fair Value (in thousands) Balance Sheet Location Fair Value (in thousands) Forward sales of mortgage-backed securities Other assets $ — Other liabilities $ 783 Interest rate lock commitments Other assets 1,104 Other liabilities — Whole loan contracts Other assets — Other liabilities 122 Total fair value measurements $ 1,104 $ 905 Asset Derivatives Liability Derivatives December 31, 2017 December 31, 2017 Description of Derivatives Balance Sheet Location Fair Value (in thousands) Balance Sheet Location Fair Value (in thousands) Forward sales of mortgage-backed securities Other assets $ 177 Other liabilities $ — Interest rate lock commitments Other assets 271 Other liabilities — Whole loan contracts Other assets 12 Other liabilities — Total fair value measurements $ 460 $ — Assets Measured on a Non-Recurring Basis Inventory. The Company assesses inventory for recoverability on a quarterly basis based on the difference in the carrying value of the inventory and its fair value at the time of the evaluation. Determining the fair value of a community’s inventory involves a number of variables, estimates and projections, which are Level 3 measurement inputs. Please see Note 1, “Summary of Significant Accounting Policies - Inventory” in the Company’s 2017 Form 10-K for additional information regarding the Company’s methodology for determining fair value. The Company uses significant assumptions to evaluate the recoverability of its inventory, such as estimated average selling price, construction and development costs, absorption rate (reflecting any product mix change strategies implemented or to be implemented), selling strategies, alternative land uses (including disposition of all or a portion of the land owned), or discount rates. Changes in these assumptions could materially impact future cash flow and fair value estimates and may lead the Company to incur additional impairment charges in the future. Our analysis is conducted only if indicators of a decline in value of our inventory exist, which include, among other things, declines in gross margin on sales contracts in backlog or homes that have been delivered, slower than anticipated absorption pace, declines in average sales price or high incentive offers by management to improve absorptions, declines in margins regarding future land sales, or declines in the value of the land itself as a result of third party appraisals. If communities are not recoverable based on the estimated future undiscounted cash flows, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. During the three and six months ended June 30, 2018 and 2017 , the Company did not record any impairment charges on its inventory. Investment in Unconsolidated Joint Ventures. We evaluate our investments in unconsolidated joint ventures for impairment on a quarterly basis based on the difference in the investment’s carrying value and its fair value at the time of the evaluation. If the Company has determined that the decline in value is other than temporary, the Company would write down the value of the investment to its estimated fair value. Determining the fair value of investments in unconsolidated joint ventures involves a number of variables, estimates and assumptions, which are Level 3 measurement inputs. Please see Note 1, “Summary of Significant Accounting Policies - Investment in Unconsolidated Joint Ventures,” in the Company’s 2017 Form 10-K for additional information regarding the Company’s methodology for determining fair value. Because of the high degree of judgment involved in developing these assumptions, it is possible that changes in these assumptions could materially impact future cash flow and fair value estimates of the investments which may lead the Company to incur additional impairment charges in the future. During the three and six months ended June 30, 2018 and 2017 , the Company did not record any impairment charges on its investments in unconsolidated joint ventures. Financial Instruments Counterparty Credit Risk. To reduce the risk associated with losses that would be recognized if counterparties failed to perform as contracted, the Company limits the entities with whom management can enter into commitments. This risk of accounting loss is the difference between the market rate at the time of non-performance by the counterparty and the rate to which the Company committed. The following table presents the carrying amounts and fair values of the Company’s financial instruments at June 30, 2018 and December 31, 2017 . The objective of the fair value measurement is to estimate the price at which an orderly transaction to sell the asset or transfer the liability would take place between market participants at the measurement date under current market conditions. June 30, 2018 December 31, 2017 (In thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash, cash equivalents and restricted cash $ 67,817 $ 67,817 $ 151,703 $ 151,703 Mortgage loans held for sale 108,000 108,000 171,580 171,580 Split dollar life insurance policies 209 209 209 209 Commitments to extend real estate loans 1,104 1,104 271 271 Whole loan contracts for committed IRLCs and mortgage loans held for sale — — 12 12 Forward sales of mortgage-backed securities — — 177 177 Liabilities: Notes payable - homebuilding operations 181,800 181,800 — — Notes payable - financial services operations 93,163 93,163 168,195 168,195 Notes payable - other 9,362 8,504 10,576 9,437 Convertible senior subordinated notes due 2018 (a) — — 86,250 93,581 Senior notes due 2021 (a) 300,000 308,250 300,000 310,875 Senior notes due 2025 (a) 250,000 233,125 250,000 252,500 Whole loan contracts for committed IRLCs and mortgage loans held for sale 122 122 — — Forward sales of mortgage-backed securities 783 783 — — Off-Balance Sheet Financial Instruments: Letters of credit — 955 — 1,083 (a) Our senior notes and convertible senior subordinated notes are stated at the principal amount outstanding which does not include the impact of premiums, discounts, and debt issuance costs that are amortized to interest cost over the respective terms of the notes. The following methods and assumptions were used by the Company in estimating its fair value disclosures of financial instruments at June 30, 2018 and December 31, 2017 : Cash, Cash Equivalents and Restricted Cash. The carrying amounts of these items approximate fair value because they are short-term by nature. Mortgage Loans Held for Sale, Forward Sales of Mortgage-Backed Securities, Commitments to Extend Real Estate Loans, Whole loan Contracts for Committed IRLCs and Mortgage Loans Held for Sale, Convertible Senior Subordinated Notes due 2018, Senior Notes due 2021 and Senior Notes due 2025. The fair value of these financial instruments was determined based upon market quotes at June 30, 2018 and December 31, 2017 . The market quotes used were quoted prices for similar assets or liabilities along with inputs taken from observable market data by correlation. The inputs were adjusted to account for the condition of the asset or liability. Split Dollar Life Insurance Policy and Notes Receivable. The estimated fair value was determined by calculating the present value of the amounts based on the estimated timing of receipts using discount rates that incorporate management’s estimate of risk associated with the corresponding note receivable. Notes Payable - Homebuilding Operations. The interest rate available to the Company during the quarter ended June 30, 2018 under the Company’s $500 million unsecured revolving credit facility, dated July 18, 2013, as amended (the “Credit Facility”), fluctuated daily with the one-month LIBOR rate plus a margin of 250 basis points, and thus the carrying value is a reasonable estimate of fair value. Please see Note 8 to our financial statements for additional information regarding the Credit Facility. Notes Payable - Financial Services Operations. M/I Financial, LLC (“M/I Financial”) is a party to two credit agreements: (1) a $125 million secured mortgage warehousing agreement (which increases to $160 million during certain periods), as amended and restated on June 24, 2016 and further amended on June 22, 2018 (the “MIF Mortgage Warehousing Agreement”); and (2) a $35 million mortgage repurchase agreement, as amended and restated on October 30, 2017 (the “MIF Mortgage Repurchase Facility”). For each of these credit facilities, the interest rate is based on a variable rate index, and thus their carrying value is a reasonable estimate of fair value. The interest rate available to M/I Financial during the second quarter of 2018 fluctuated with LIBOR. Please see Note 8 to our financial statements for additional information regarding the MIF Mortgage Warehousing Agreement and the MIF Mortgage Repurchase Facility. Notes Payable - Other. The estimated fair value was determined by calculating the present value of the future cash flows using the Company’s current incremental borrowing rate. Letters of Credit. Letters of credit of $49.8 million and $49.7 million represent potential commitments at June 30, 2018 and December 31, 2017 , respectively. The letters of credit generally expire within one or two years. The estimated fair value of letters of credit was determined using fees currently charged for similar agreements.

Guarantees and Indemnifications

Guarantees and Indemnifications	6 Months Ended
	Jun. 30, 2018
Guarantees [Abstract]
Guarantees [Text Block]	Guarantees and Indemnifications In the ordinary course of business, M/I Financial, a 100%-owned subsidiary of M/I Homes, Inc., enters into agreements that guarantee certain purchasers of its mortgage loans that M/I Financial will repurchase a loan if certain conditions occur, primarily if the mortgagor does not meet the terms of the loan within the first six months after the sale of the loan. Loans totaling approximately $60.6 million and $46.8 million were covered under these guarantees as of June 30, 2018 and December 31, 2017 , respectively. The increase in loans covered by these guarantees from December 31, 2017 is a result of a change in the mix of investors and their related purchase terms. A portion of the revenue paid to M/I Financial for providing the guarantees on these loans was deferred at June 30, 2018 , and will be recognized in income as M/I Financial is released from its obligation under the guarantees. The risk associated with the guarantees above is offset by the value of the underlying assets. M/I Financial has received inquiries concerning underwriting matters from purchasers of its loans regarding certain loans totaling approximately $0.6 million and $1.2 million at June 30, 2018 and December 31, 2017 , respectively. M/I Financial has also guaranteed the collectability of certain loans to third party insurers (U.S. Department of Housing and Urban Development and U.S. Veterans Administration) of those loans for periods ranging from five to thirty years. As of both June 30, 2018 and December 31, 2017 , the total of all loans indemnified to third party insurers relating to the above agreements was $1.3 million . The maximum potential amount of future payments is equal to the outstanding loan value less the value of the underlying asset plus administrative costs incurred related to foreclosure on the loans, should this event occur. The Company recorded a liability relating to the guarantees described above totaling $0.6 million and $0.8 million at June 30, 2018 and December 31, 2017 , respectively, which is management’s best estimate of the Company’s liability.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments and Contingencies Warranty We use subcontractors for nearly all aspects of home construction. Although our subcontractors are generally required to repair and replace any product or labor defects, we are, during applicable warranty periods, ultimately responsible to the homeowner for making such repairs. As such, we record warranty reserves to cover our exposure to the costs for materials and labor not expected to be covered by our subcontractors to the extent they relate to warranty-type claims. Warranty reserves are established by charging cost of sales and crediting a warranty reserve for each home delivered. Warranty reserves are recorded for warranties under our Home Builder’s Limited Warranty (“HBLW”), and our 30-year (offered on all homes sold after April 25, 1998 and on or before December 1, 2015 in all of our markets except our Texas markets), 15-year (offered on all homes sold after December 1, 2015 in all of our markets except our Texas markets) or 10-year (offered on all homes sold in our Texas markets) transferable structural warranty in Other Liabilities on the Company’s Unaudited Condensed Consolidated Balance Sheets. The warranty reserves for the HBLW are established as a percentage of average sales price and adjusted based on historical payment patterns determined, generally, by geographic area and recent trends. Factors that are given consideration in determining the HBLW reserves include: (1) the historical range of amounts paid per average sales price on a home; (2) type and mix of amenity packages added to the home; (3) any warranty expenditures not considered to be normal and recurring; (4) timing of payments; (5) improvements in quality of construction expected to impact future warranty expenditures; and (6) conditions that may affect certain projects and require a different percentage of average sales price for those specific projects. Changes in estimates for warranties occur due to changes in the historical payment experience and differences between the actual payment pattern experienced during the period and the historical payment pattern used in our evaluation of the warranty reserve balance at the end of each quarter. Actual future warranty costs could differ from our current estimated amount. Our warranty reserves for our transferable structural warranty programs are established on a per-unit basis. While the structural warranty reserve is recorded as each house is delivered, the sufficiency of the structural warranty per unit charge and total reserve is re-evaluated on an annual basis, with the assistance of an actuary, using our own historical data and trends, industry-wide historical data and trends, and other project specific factors. The reserves are also evaluated quarterly and adjusted if we encounter activity that is inconsistent with the historical experience used in the annual analysis. These reserves are subject to variability due to uncertainties regarding structural defect claims for products we build, the markets in which we build, claim settlement history, insurance and legal interpretations, among other factors. While we believe that our warranty reserves are sufficient to cover our projected costs, there can be no assurances that historical data and trends will accurately predict our actual warranty costs. A summary of warranty activity for the three and six months ended June 30, 2018 and 2017 is as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Warranty reserves, beginning of period $ 24,301 $ 24,980 $ 26,133 $ 27,732 Warranty expense on homes delivered during the period 3,299 2,783 5,842 5,212 Changes in estimates for pre-existing warranties 557 332 465 1,062 Charges related to stucco-related claims (a) — 8,500 — 8,500 Settlements made during the period (4,878 ) (6,292 ) (9,161 ) (12,203 ) Warranty reserves, end of period $ 23,279 $ 30,303 $ 23,279 $ 30,303 (a) Estimated stucco-related repair costs, as described below, have been included in warranty accruals. We have received claims related to stucco installation from homeowners in certain of our communities in our Tampa and Orlando, Florida markets and have been named as a defendant in legal proceedings initiated by certain of such homeowners. These claims primarily relate to homes built prior to 2014 which have second story elevations with frame construction. During 2015, 2016 and 2017, we recorded an aggregate total of $28.4 million of warranty charges for stucco-related repair costs for (1) homes in our Florida communities that we had identified as needing repair but had not yet completed the repair and (2) estimated repair costs for homes in our Florida communities that we had not yet identified as needing repair but that may require repair in the future. We did not record any additional warranty charges for stucco-related repair costs during the second quarter of 2018 or the six months ended June 30, 2018 . The remaining reserve for both known repair costs and an estimate of future costs of stucco-related repairs at June 30, 2018 included within our warranty reserve was $6.5 million . We believe that this amount is sufficient to cover both known and estimated future repair costs as of June 30, 2018 . Our review of the stucco-related issues in our Florida communities is ongoing. Our estimate of future costs of stucco-related repairs is based on our judgment, various assumptions and internal data. Due to the degree of judgment and the potential for variability in our underlying assumptions and data, as we obtain additional information, we may revise our estimate, including to reflect additional estimated future stucco-related repairs costs, which revision could be material. We also are continuing to investigate the extent to which we may be able to recover a portion of our stucco repair and claims handling costs from other sources, including our direct insurers, the subcontractors involved with the construction of the homes and their insurers. As of June 30, 2018 , we are unable to estimate an amount, if any, that we believe is probable to be recovered from these sources and, accordingly, we have not recorded a receivable for estimated recoveries nor included an estimated amount of recoveries in determining our warranty reserves. Performance Bonds and Letters of Credit At June 30, 2018 , the Company had outstanding approximately $198.2 million of completion bonds and standby letters of credit, some of which were issued to various local governmental entities that expire at various times through September 2024 . Included in this total are: (1) $140.8 million of performance and maintenance bonds and $42.5 million of performance letters of credit that serve as completion bonds for land development work in progress; (2) $7.3 million of financial letters of credit, of which $7.3 million represent deposits on land and lot purchase agreements; and (3) $7.6 million of financial bonds. Land Option Contracts and Other Similar Contracts At June 30, 2018 , the Company also had options and contingent purchase agreements to acquire land and developed lots with an aggregate purchase price of approximately $640.8 million . Purchase of properties under these agreements is contingent upon satisfaction of certain requirements by the Company and the sellers. Legal Matters In addition to the legal proceedings related to stucco, the Company and certain of its subsidiaries have been named as defendants in certain other legal proceedings which are incidental to our business. While management currently believes that the ultimate resolution of these other legal proceedings, individually and in the aggregate, will not have a material effect on the Company’s financial position, results of operations and cash flows, such legal proceedings are subject to inherent uncertainties. The Company has recorded a liability to provide for the anticipated costs, including legal defense costs, associated with the resolution of these other legal proceedings. However, the possibility exists that the costs to resolve these legal proceedings could differ from the recorded estimates and, therefore, have a material effect on the Company’s net income for the periods in which they are resolved. At both June 30, 2018 and December 31, 2017 , we had $0.4 million reserved for legal expenses.

Acquisition and Goodwill (Notes

Acquisition and Goodwill (Notes)	6 Months Ended
	Jun. 30, 2018
Acquisition and Goodwill [Abstract]
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	Acquisition and Goodwill Acquisition In March 2018, we entered the Detroit, Michigan market through the acquisition of the homebuilding assets and operations of Pinnacle Homes. The purchase price was $101.0 million . The results of Pinnacle Homes operations have been included in our financial statements since March 1, 2018, the effective date of the acquisition. As a result of the transaction, we recorded a provisional $16.4 million of goodwill (all of which is tax deductible) which relates to expected synergies from establishing a market presence in Detroit, the experience and knowledge of the acquired workforce and the capital-efficient operating structure of the business acquired. The remaining basis of $84.6 million is almost entirely comprised of the fair value of the acquired inventory with an insignificant amount attributable to other assets and liabilities. In accordance with ASC 805-10, Business Combinations (“ASC 805”), we will update such balances, if necessary, upon further verification of the fair values on certain other assets, more relevant history on profitability of backlog, and further understanding of the cost to complete activities, if any, on purchased communities. Goodwill Goodwill represents the excess of the purchase price paid over the fair value of the net assets acquired and liabilities assumed in business combinations. Because the purchase price allocation is subject to change within a measurement period of up to one year from the acquisition date pursuant to ASC 805, in connection with the Company’s acquisition of the homebuilding assets and operations of Pinnacle Homes in Detroit, Michigan described above, the Company recorded a provisional amount of goodwill of approximately $16.4 million as of June 30, 2018 , which is included as Goodwill in our Unaudited Condensed Consolidated Balance Sheets. This provisional amount was based on the estimated fair values of the acquired assets and liabilities at the date of the acquisition in accordance with ASC 350, Intangibles, Goodwill and Other (“ASC 350”). In accordance with ASC 350, the Company analyzes goodwill for impairment on an annual basis (or more often if indicators of impairment exist). The Company performs a qualitative assessment to determine whether the existence of events or circumstances leads to a determination that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. If the qualitative assessment indicates that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount, then a quantitative assessment is performed to determine the reporting unit’s fair value. If the reporting unit’s carrying value exceeds its fair value, then an impairment loss is recognized for the amount of the excess of the carrying amount over the reporting unit’s fair value. As of June 30, 2018 , there were no indicators that our goodwill was impaired.

Debt

Debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt Notes Payable - Homebuilding The Credit Facility provides an aggregate commitment amount of $500 million , including a $125 million sub-facility for letters of credit. During the second quarter of 2018, the Company exercised an accordion feature provided for within the Credit Facility, which increased the total revolving commitment under the Credit Facility from $475 million to $500 million by obtaining a commitment from an additional lender of $25 million . The Credit Facility expires on July 18, 2021 . Interest on amounts borrowed under the Credit Facility was payable at a rate which is adjusted daily and is equal to the sum of the one-month LIBOR rate plus a margin of 250 basis points. The margin is subject to adjustment in subsequent quarterly periods based on the Company’s leverage ratio. The Credit Facility also contains certain financial covenants. At June 30, 2018 , the Company was in compliance with all financial covenants of the Credit Facility. The available amount under the Credit Facility is computed in accordance with a borrowing base, which is calculated by applying various advance rates for different categories of inventory, and totaled $622.9 million of availability for additional senior debt at June 30, 2018 . As a result, the full $500 million commitment amount of the Credit Facility was available, less any borrowings and letters of credit outstanding. At June 30, 2018 , there were $181.8 million of borrowings outstanding and $49.6 million of letters of credit outstanding, leaving net remaining borrowing availability of $268.6 million . The Company’s obligations under the Credit Facility are guaranteed by all of the Company’s subsidiaries, with the exception of subsidiaries that are primarily engaged in the business of mortgage financing, title insurance or similar financial businesses relating to the homebuilding and home sales business, certain subsidiaries that are not 100%-owned by the Company or another subsidiary, and other subsidiaries designated by the Company as Unrestricted Subsidiaries (as defined in Note 12 to our financial statements), subject to limitations on the aggregate amount invested in such Unrestricted Subsidiaries in accordance with the terms of the Credit Facility and the indentures for the Company’s $250.0 million aggregate principal amount of 5.625% Senior Notes due 2025 (the “2025 Senior Notes”) and the Company’s $300.0 million aggregate principal amount of 6.75% Senior Notes due 2021 (the “2021 Senior Notes”). The guarantors for the Credit Facility (the “Guarantor Subsidiaries”) are the same subsidiaries that guarantee the 2025 Senior Notes and the 2021 Senior Notes. The Company’s obligations under the Credit Facility are general, unsecured senior obligations of the Company and the Guarantor Subsidiaries and rank equally in right of payment with all our and the Guarantor Subsidiaries’ existing and future unsecured senior indebtedness. Our obligations under the Credit Facility are effectively subordinated to our and the Guarantor Subsidiaries’ existing and future secured indebtedness with respect to any assets comprising security or collateral for such indebtedness. As of June 30, 2018 , the Company was a party to a secured credit facility agreement for the issuance of letters of credit (the “Letter of Credit Facility”), with a maturity date of September 30, 2018 which allows for the issuance of letters of credit up to a total of $1.0 million . At June 30, 2018 and December 31, 2017 , there was $0.2 million and $0.6 million , respectively, of outstanding letters of credit in aggregate under the Letter of Credit Facility, which were collateralized with $0.2 million and $0.6 million , respectively, of the Company’s cash. In connection with the acquisition of Pinnacle Homes in March 2018, the Company assumed the obligation for $6.6 million of outstanding letters of credit under a separate facility, which was collateralized with $6.6 million of restricted cash. During the second quarter of 2018 , the Company terminated this separate letter of credit facility and the outstanding letters of credit under the facility were transferred to the Credit Facility, resulting in the release of approximately $6.6 million of restricted cash which collateralized the separate facility. Notes Payable — Financial Services The MIF Mortgage Warehousing Agreement is used to finance eligible residential mortgage loans originated by M/I Financial. The MIF Mortgage Warehousing Agreement provides for a maximum borrowing availability of $125 million . In June 2018, the Company entered into an amendment to the MIF Mortgage Warehousing Agreement, which, among other things, extended the expiration date to June 21, 2019 and adjusted the interest rate to a per annum rate equal to the greater of (1) the floating LIBOR rate plus a spread of 200 basis points and (2) 2.75% . The spread over floating LIBOR had previously been 237.5 basis points. The amendment also allows the maximum borrowing availability to be increased to $160 million during certain periods of expected increases in the volume of mortgage originations, specifically from September 25, 2018 to October 15, 2018 and from November 15, 2018 to February 4, 2019. The MIF Mortgage Warehousing Agreement also contains certain financial covenants. At June 30, 2018 , M/I Financial was in compliance with all financial covenants of the MIF Mortgage Warehousing Agreement. The MIF Mortgage Repurchase Facility is used to finance eligible residential mortgage loans originated by M/I Financial. The MIF Repurchase Facility provides for a mortgage repurchase facility with a maximum borrowing availability of $35 million which increased to $50 million from November 15, 2017 through February 1, 2018 (a period during which we typically experience higher mortgage origination volume). The MIF Mortgage Repurchase Facility expires on October 29, 2018 . M/I Financial pays interest on each advance under the MIF Mortgage Repurchase Facility at a per annum rate equal to the floating LIBOR rate plus 250 or 275 basis points depending on the loan type. The MIF Mortgage Repurchase Facility also contains certain financial covenants. At June 30, 2018 , M/I Financial was in compliance with all financial covenants of the MIF Mortgage Repurchase Facility. At June 30, 2018 and December 31, 2017 , M/I Financial’s total combined maximum borrowing availability under the two credit facilities was $160.0 million and $200.0 million , respectively. At June 30, 2018 and December 31, 2017 , M/I Financial had $93.2 million and $168.2 million outstanding on a combined basis under its credit facilities, respectively. Senior Notes As of both June 30, 2018 and December 31, 2017 , we had $250.0 million of our 2025 Senior Notes outstanding. The 2025 Senior Notes bear interest at a rate of 5.625% per year, payable semiannually in arrears on February 1 and August 1 of each year (commencing on February 1, 2018), and mature on August 1, 2025 . We may redeem all or any portion of the 2025 Senior Notes on or after August 1, 2020 at a stated redemption price, together with accrued and unpaid interest thereon. The redemption price will initially be 104.219% of the principal amount outstanding, but will decline to 102.813% of the principal amount outstanding if redeemed during the 12-month period beginning on August 1, 2021, will further decline to 101.406% of the principal amount outstanding if redeemed during the 12-month period beginning on August 1, 2022 and will further decline to 100.000% of the principal amount outstanding if redeemed on or after August 1, 2023, but prior to maturity. As of both June 30, 2018 and December 31, 2017 , we had $300.0 million of our 2021 Senior Notes outstanding. The 2021 Senior Notes bear interest at a rate of 6.75% per year, payable semiannually in arrears on January 15 and July 15 of each year, and mature on January 15, 2021. As of January 15, 2018, we may redeem all or any portion of the 2021 Senior Notes at 103.375% of the principal amount outstanding. This rate declines to 101.688% of the principal amount outstanding if redeemed during the 12-month period beginning on January 15, 2019, and will further decline to 100.000% of the principal amount outstanding if redeemed on or after January 15, 2020, but prior to maturity. The 2025 Senior Notes and the 2021 Senior Notes contain certain covenants, as more fully described and defined in the indenture governing the 2025 Senior Notes and the indenture governing the 2021 Senior Notes, which limit the ability of the Company and the restricted subsidiaries to, among other things: incur additional indebtedness; make certain payments, including dividends, or repurchase any shares, in an aggregate amount exceeding our “restricted payments basket”; make certain investments; and create or incur certain liens, consolidate or merge with or into other companies, or liquidate or sell or transfer all or substantially all of our assets. These covenants are subject to a number of exceptions and qualifications as described in the indenture governing the 2025 Senior Notes and the indenture governing the 2021 Senior Notes. As of June 30, 2018 , the Company was in compliance with all terms, conditions, and covenants under the indentures. The 2025 Senior Notes and the 2021 Senior Notes are fully and unconditionally guaranteed jointly and severally on a senior unsecured basis by the Guarantor Subsidiaries. The 2025 Senior Notes and the 2021 Senior Notes are general, unsecured senior obligations of the Company and the Guarantor Subsidiaries and rank equally in right of payment with all our and the Guarantor Subsidiaries’ existing and future unsecured senior indebtedness. The 2025 Senior Notes and the 2021 Senior Notes are effectively subordinated to our and the Guarantor Subsidiaries’ existing and future secured indebtedness with respect to any assets comprising security or collateral for such indebtedness. The indenture governing our 2025 Senior Notes and the indenture governing the 2021 Senior Notes limits our ability to pay dividends on, and repurchase, our common shares and any of our preferred shares then outstanding to the amount of the positive balance in our “restricted payments basket,” as defined in the indentures. In each case, the “restricted payments basket” is equal to $125.0 million plus (1) 50% of our aggregate consolidated net income (or minus 100% of our aggregate consolidated net loss) from October 1, 2015, excluding income or loss from Unrestricted Subsidiaries, plus (2) 100% of the net cash proceeds from either contributions to the common equity of the Company after December 1, 2015 or the sale of qualified equity interests after December 1, 2015, plus other items and subject to other exceptions. The restricted payments basket was $214.0 million and $176.1 million at June 30, 2018 and December 31, 2017 , respectively. The determination to pay future dividends on, or make future repurchases of, our common shares will be at the discretion of our board of directors and will depend upon our results of operations, financial condition, capital requirements and compliance with debt covenants, and other factors deemed relevant by our board of directors. Convertible Senior Subordinated Notes On March 1, 2013, the Company issued $86.3 million in aggregate principal amount of 3.0% Convertible Senior Subordinated Notes due 2018 (the “2018 Convertible Senior Subordinated Notes”). The 2018 Convertible Senior Subordinated Notes were scheduled to mature on March 1, 2018 and the deadline for holders to convert the 2018 Convertible Senior Subordinated Notes was February 27, 2018. As a result of conversion elections made by holders of the 2018 Convertible Senior Subordinated Notes, (1) approximately $20.3 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes were converted and settled through the issuance of approximately 0.629 million of our common shares (at a conversion price per common share of $32.31 ) and (2) the Company repaid in cash approximately $65.9 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes at maturity. In accordance with the indenture governing the 2018 Convertible Senior Subordinated Notes, the Company paid interest on the 2018 Convertible Senior Subordinated Notes to, but excluding, March 1, 2018. On December 31, 2017 , we had $86.3 million of our 2018 Convertible Senior Subordinated Notes outstanding. Notes Payable - Other The Company had other borrowings, which are reported in Notes Payable - Other in our Unaudited Condensed Consolidated Balance Sheets, totaling $9.4 million and $10.6 million as of June 30, 2018 and December 31, 2017 , respectively. The balance is made up of notes payable acquired in the normal course of business.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Earnings Per Share The table below presents a reconciliation between basic and diluted weighted average shares outstanding, net income available to common shareholders and basic and diluted income per share for the three and six months ended June 30, 2018 and 2017 : Three Months Ended Six Months Ended June 30, June 30, (In thousands, except per share amounts) 2018 2017 2018 2017 NUMERATOR Net income $ 27,911 $ 16,989 $ 45,974 $ 33,872 Preferred stock dividends (a) — (1,219 ) — (2,438 ) Net income available to common shareholders 27,911 15,770 45,974 31,434 Interest on 3.25% convertible senior subordinated notes due 2017 (b) — 391 — 782 Interest on 3.00% convertible senior subordinated notes due 2018 (c) — 527 409 1,055 Diluted income available to common shareholders $ 27,911 $ 16,688 $ 46,383 $ 33,271 DENOMINATOR Basic weighted average shares outstanding 28,571 24,990 28,349 24,864 Effect of dilutive securities: Stock option awards 353 335 409 330 Deferred compensation awards 177 209 194 192 3.25% convertible senior subordinated notes due 2017 (b) — 2,416 — 2,416 3.00% convertible senior subordinated notes due 2018 (c) — 2,669 866 2,669 Diluted weighted average shares outstanding - adjusted for assumed conversions 29,101 30,619 29,818 30,471 Earnings per common share: Basic $ 0.98 $ 0.63 $ 1.62 $ 1.26 Diluted $ 0.96 $ 0.55 $ 1.56 $ 1.09 Anti-dilutive equity awards not included in the calculation of diluted earnings per common share 434 — 326 47 (a) The Company’s Articles of Incorporation authorize the issuance of up to 2,000,000 preferred shares, par value $.01 per share. On March 15, 2007, the Company issued 4,000,000 depositary shares, each representing 1/1000th of a 9.75% Series A Preferred Share of the Company (the “Series A Preferred Shares”), or 4,000 Series A Preferred Shares in the aggregate. On April 10, 2013, the Company redeemed 2,000 of its Series A Preferred Shares (and the 2,000,000 related depositary shares) for an aggregate redemption price of approximately $50.4 million in cash. On October 16, 2017, the Company redeemed the remaining 2,000 outstanding Series A Preferred Shares (and the 2,000,000 related depositary shares) for an aggregate redemption price of approximately $50.4 million in cash. The Company declared and paid a quarterly cash dividend of $609.375 per share on its then outstanding Series A Preferred Shares in both the first and second quarter of 2017 , for an aggregate dividend payment on the Series A Preferred Shares of $1.2 million and $2.4 million in the three and six months ended June 30, 2017 , respectively. (b) On September 11, 2012, the Company issued $57.5 million in aggregate principal amount of 3.25% Convertible Senior Subordinated Notes due 2017 (the “2017 Convertible Senior Subordinated Notes”). The 2017 Convertible Senior Subordinated Notes were scheduled to mature on September 15, 2017 and the deadline for holders to convert the 2017 Convertible Senior Subordinated Notes was September 13, 2017. As a result of conversion elections made by holders of the 2017 Convertible Senior Subordinated Notes, all $57.5 million in aggregate principal amount of the 2017 Convertible Senior Subordinated Notes were converted and settled through the issuance of our common shares. In total, we issued approximately 2.4 million common shares (at a conversion price per common share of $23.80 ). (c) On March 1, 2013, the Company issued $86.3 million in aggregate principal amount of 2018 Convertible Senior Subordinated Notes. The 2018 Convertible Senior Subordinated Notes were scheduled to mature on March 1, 2018 and the deadline for holders to convert the 2018 Convertible Senior Subordinated Notes was February 27, 2018. As a result of conversion elections made by holders of the 2018 Convertible Senior Subordinated Notes, (1) approximately $20.3 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes were converted and settled through the issuance of approximately 0.629 million of our common shares (at a conversion price per common share of $32.31 ) and (2) the Company repaid in cash approximately $65.9 million in aggregate principal amount of the 2018 Convertible Senor Subordinated Notes at maturity. For the six months ended June 30, 2018 and the three and six months ended June 30, 2017 , the effect of our convertible debt then outstanding was included in the diluted earnings per share calculations.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes During the three and six months ended June 30, 2018 , the Company recorded a tax provision of $5.6 million and $11.4 million , respectively, which reflects income tax expense related to the periods’ income before income taxes. The effective tax rate for the three and six months ended June 30, 2018 was 16.8% and 19.9% , respectively. Our 2018 tax rates for these periods primarily reflect the lower corporate tax rate of 21% as a result of the Tax Act when compared to 2017 federal rates. In addition, during the three and six months ended June 30, 2018 , we recorded a $3.0 million tax benefit primarily related to the retroactive reinstatement of energy efficient homes tax credits to 2017 for which we obtained certifications in 2018. The Company is still analyzing certain aspects of the Tax Act and expects the final impact to be determined in conjunction with its tax return filings in the fourth quarter of 2018. During the three and six months ended June 30, 2017 , the Company recorded a tax provision of $8.2 million and $17.6 million , which reflects income tax expense related to the periods’ income before income taxes. The effective tax rate for the three and six months ended June 30, 2017 was 32.5% and 34.3% , respectively, which included the former 35% corporate tax rate and tax expense related to the expected tax benefits for the domestic production activities deduction. The Company had $4.0 million of state NOL carryforwards, net of the federal benefit, at June 30, 2018 . Our state NOLs may be carried forward from one to 15 years, depending on the tax jurisdiction, with $1.2 million expiring between 2022 and 2027 and $2.8 million expiring between 2028 and 2032, absent sufficient state taxable income.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2018
Business Segments [Abstract]
Segment Reporting Disclosure [Text Block]	Business Segments The Company’s chief operating decision makers evaluate the Company’s performance in various ways, including: (1) the results of our 16 individual homebuilding operating segments and the results of our financial services operations; (2) the results of our three homebuilding reportable segments; and (3) our consolidated financial results. In accordance with ASC 280, Segment Reporting (“ASC 280”), we have identified each homebuilding division as an operating segment as each homebuilding division engages in business activities from which it earns revenue, primarily from the sale and construction of single-family attached and detached homes, acquisition and development of land, and the occasional sale of lots to third parties. Our financial services operations generate revenue primarily from the origination, sale and servicing of mortgage loans and title services primarily for purchasers of the Company’s homes and are included in our financial services reportable segment. In accordance with the aggregation criteria defined in ASC 280, we have identified each homebuilding division as an operating segment and have determined our reportable segments are as follows: Midwest homebuilding; Southern homebuilding; Mid-Atlantic homebuilding; and financial services operations. The homebuilding operating segments that are included within each reportable segment have been aggregated because they share similar aggregation characteristics as prescribed in ASC 280 in the following regards: (1) long-term economic characteristics; (2) historical and expected future long-term gross margin percentages; (3) housing products, production processes and methods of distribution; and (4) geographical proximity. The homebuilding operating segments that comprise each of our reportable segments are as follows: Midwest Southern Mid-Atlantic Chicago, Illinois Orlando, Florida Charlotte, North Carolina Cincinnati, Ohio Sarasota, Florida Raleigh, North Carolina Columbus, Ohio Tampa, Florida Washington, D.C. Indianapolis, Indiana Austin, Texas Minneapolis/St. Paul, Minnesota Dallas/Fort Worth, Texas Detroit, Michigan Houston, Texas San Antonio, Texas The following table shows, by segment: revenue, operating income and interest expense for the three and six months ended June 30, 2018 and 2017 , as well as the Company’s income before income taxes for such periods: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Revenue: Midwest homebuilding $ 226,902 $ 168,469 $ 385,522 $ 314,891 Southern homebuilding 237,582 178,780 427,970 328,145 Mid-Atlantic homebuilding 81,738 97,749 155,561 194,635 Financial services (a) 11,876 11,868 26,902 26,175 Total revenue $ 558,098 $ 456,866 $ 995,955 $ 863,846 Operating income: Midwest homebuilding (b) $ 18,981 $ 17,984 $ 31,198 $ 32,843 Southern homebuilding (c) 19,370 4,709 34,220 13,421 Mid-Atlantic homebuilding 5,106 9,588 7,698 16,841 Financial services (a) 5,938 6,860 15,478 16,090 Less: Corporate selling, general and administrative expense (10,890 ) (10,232 ) (18,948 ) (18,630 ) Total operating income (b) (c) $ 38,505 $ 28,909 $ 69,646 $ 60,565 Interest expense: Midwest homebuilding $ 1,812 $ 863 $ 3,878 $ 2,240 Southern homebuilding 1,908 1,791 4,195 4,168 Mid-Atlantic homebuilding 473 515 1,229 1,431 Financial services (a) 695 665 1,464 1,333 Total interest expense $ 4,888 $ 3,834 $ 10,766 $ 9,172 Equity in loss (income) from joint venture arrangements 86 (110 ) (224 ) (127 ) Acquisition and integration costs (d) — — 1,700 — Income before income taxes $ 33,531 $ 25,185 $ 57,404 $ 51,520 (a) Our financial services operational results should be viewed in connection with our homebuilding business as its operations originate loans and provide title services primarily for our homebuying customers, with the exception of an immaterial amount of mortgage refinancing. (b) Includes $3.0 million and $3.9 million of charges related to purchase accounting adjustments taken during the three and six months ended June 30, 2018 , respectively, as a result of our acquisition of Pinnacle Homes in Detroit, Michigan on March 1, 2018. (c) Includes an $8.5 million charge for stucco-related repair costs in certain of our Florida communities taken during both the three and six months ended June 30, 2017 (as more fully discussed in Note 6 to our financial statements). (d) Represents costs which include, but are not limited to, legal fees and expenses, travel and communication expenses, cost of appraisals, accounting fees and expenses, and miscellaneous expenses related to our recent acquisition of Pinnacle Homes. As these costs are not eligible for capitalization as initial direct costs, such amounts are expensed as incurred. The following tables show total assets by segment at June 30, 2018 and December 31, 2017 : June 30, 2018 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 5,933 $ 20,724 $ 7,163 $ — $ 33,820 Inventory (a) 657,154 697,404 264,090 — 1,618,648 Investments in joint venture arrangements 342 5,088 8,323 — 13,753 Other assets 26,288 36,977 (b) 16,440 224,614 304,319 Total assets $ 689,717 $ 760,193 $ 296,016 $ 224,614 $ 1,970,540 December 31, 2017 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 4,933 $ 20,719 $ 6,904 $ — $ 32,556 Inventory (a) 500,671 636,019 245,328 — 1,382,018 Investments in joint venture arrangements 4,410 9,677 6,438 — 20,525 Other assets 13,573 38,784 (b) 13,311 364,004 429,672 Total assets $ 523,587 $ 705,199 $ 271,981 $ 364,004 $ 1,864,771 (a) Inventory includes single-family lots, land and land development costs; land held for sale; homes under construction; model homes and furnishings; community development district infrastructure; and consolidated inventory not owned. (b) Includes development reimbursements from local municipalities.

Supplemental Guarantor Informat

Supplemental Guarantor Information	6 Months Ended
	Jun. 30, 2018
Supplemental Guarantor Information [Abstract]
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	Supplemental Guarantor Information The Company’s obligations under the 2025 Senior Notes and the 2021 Senior Notes are not guaranteed by all of the Company’s subsidiaries and therefore, the Company has disclosed condensed consolidating financial information in accordance with SEC Regulation S-X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered. The Guarantor Subsidiaries of the 2025 Senior Notes and the 2021 Senior Notes are the same. The following condensed consolidating financial information includes balance sheets, statements of income and cash flow information for M/I Homes, Inc. (the parent company and the issuer of the aforementioned guaranteed notes), the Guarantor Subsidiaries, collectively, and for all other subsidiaries and joint ventures of the Company (the “Unrestricted Subsidiaries”), collectively. Each Guarantor Subsidiary is a direct or indirect 100%-owned subsidiary of M/I Homes, Inc. and has fully and unconditionally guaranteed the (1) 2025 Senior Notes on a joint and several senior unsecured basis and (2) 2021 Senior Notes on a joint and several senior unsecured basis. There are no significant restrictions on the parent company’s ability to obtain funds from its Guarantor Subsidiaries in the form of a dividend, loan, or other means. As of June 30, 2018 , each of the Company’s subsidiaries is a Guarantor Subsidiary, with the exception of subsidiaries that are primarily engaged in the business of mortgage financing, title insurance or similar financial businesses relating to the homebuilding and home sales business, certain subsidiaries that are not 100%-owned by the Company or another subsidiary, and other subsidiaries designated by the Company as Unrestricted Subsidiaries, subject to limitations on the aggregate amount invested in such Unrestricted Subsidiaries in accordance with the terms of the Credit Facility and the indenture governing the 2025 Senior Notes and the indenture governing the 2021 Senior Notes. In the condensed financial tables presented below, the parent company presents all of its 100%-owned subsidiaries as if they were accounted for under the equity method. All applicable corporate expenses have been allocated appropriately among the Guarantor Subsidiaries and Unrestricted Subsidiaries. UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME Three Months Ended June 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 546,222 $ 11,876 $ — $ 558,098 Costs and expenses: Land and housing — 449,336 — — 449,336 General and administrative — 28,570 6,096 — 34,666 Selling — 35,591 — — 35,591 Equity in loss from joint venture arrangements — — 86 — 86 Interest — 4,193 695 — 4,888 Total costs and expenses — 517,690 6,877 — 524,567 Income before income taxes — 28,532 4,999 — 33,531 Provision for income taxes — 4,552 1,068 — 5,620 Equity in subsidiaries 27,911 — — (27,911 ) — Net income $ 27,911 $ 23,980 $ 3,931 $ (27,911 ) $ 27,911 Three Months Ended June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 444,998 $ 11,868 $ — $ 456,866 Costs and expenses: Land and housing — 367,598 — — 367,598 General and administrative — 24,915 5,197 — 30,112 Selling — 30,247 — — 30,247 Equity in income from joint venture arrangements — — (110 ) — (110 ) Interest — 3,169 665 — 3,834 Total costs and expenses — 425,929 5,752 — 431,681 Income before income taxes — 19,069 6,116 — 25,185 Provision for income taxes — 6,246 1,950 — 8,196 Equity in subsidiaries 16,989 — — (16,989 ) — Net income 16,989 12,823 4,166 (16,989 ) 16,989 Preferred dividends 1,219 — — — 1,219 Net income available to common shareholders $ 15,770 $ 12,823 $ 4,166 $ (16,989 ) $ 15,770 Six Months Ended June 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 969,053 $ 26,902 $ — $ 995,955 Costs and expenses: Land and housing — 798,038 — — 798,038 General and administrative — 50,741 11,876 — 62,617 Selling — 65,654 — — 65,654 Acquisition and integration costs — 1,700 — — 1,700 Equity in income from joint venture arrangements — — (224 ) — (224 ) Interest — 9,301 1,465 — 10,766 Total costs and expenses — 925,434 13,117 — 938,551 Income before income taxes — 43,619 13,785 — 57,404 Provision for income taxes — 8,458 2,972 — 11,430 Equity in subsidiaries 45,974 — — (45,974 ) — Net income $ 45,974 $ 35,161 $ 10,813 $ (45,974 ) $ 45,974 Six Months Ended June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 837,671 $ 26,175 $ — $ 863,846 Costs and expenses: Land and housing — 687,879 — — 687,879 General and administrative — 47,375 10,497 — 57,872 Selling — 57,530 — — 57,530 Equity in income from joint venture arrangements — — (127 ) — (127 ) Interest — 7,839 1,333 — 9,172 Total costs and expenses — 800,623 11,703 — 812,326 Income before income taxes — 37,048 14,472 — 51,520 Provision for income taxes — 12,735 4,913 — 17,648 Equity in subsidiaries 33,872 — — (33,872 ) — Net income 33,872 24,313 9,559 (33,872 ) 33,872 Preferred dividends 2,438 — — — 2,438 Net income available to common shareholders $ 31,434 $ 24,313 $ 9,559 $ (33,872 ) $ 31,434 UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash, cash equivalents and restricted cash $ — $ 50,673 $ 17,144 $ — $ 67,817 Mortgage loans held for sale — — 108,000 — 108,000 Inventory — 1,652,468 — — 1,652,468 Property and equipment - net — 27,879 1,006 — 28,885 Investment in joint venture arrangements — 11,541 2,212 — 13,753 Deferred income tax asset — 17,528 — — 17,528 Investment in subsidiaries 762,731 — — (762,731 ) — Intercompany assets 594,094 — — (594,094 ) — Goodwill — 16,400 — — 16,400 Other assets 2,784 53,935 8,970 — 65,689 TOTAL ASSETS $ 1,359,609 $ 1,830,424 $ 137,332 $ (1,356,825 ) $ 1,970,540 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 140,663 $ 828 $ — $ 141,491 Customer deposits — 41,510 — — 41,510 Intercompany liabilities — 590,943 3,151 (594,094 ) — Other liabilities — 111,585 5,437 — 117,022 Community development district obligations — 11,789 — — 11,789 Obligation for consolidated inventory not owned — 14,794 — — 14,794 Notes payable bank - homebuilding operations — 181,800 — — 181,800 Notes payable bank - financial services operations — — 93,163 — 93,163 Notes payable - other — 9,362 — — 9,362 Senior notes due 2021 - net 297,332 — — — 297,332 Senior notes due 2025 - net 246,311 — — — 246,311 TOTAL LIABILITIES 543,643 1,102,446 102,579 (594,094 ) 1,154,574 SHAREHOLDERS’ EQUITY 815,966 727,978 34,753 (762,731 ) 815,966 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,359,609 $ 1,830,424 $ 137,332 $ (1,356,825 ) $ 1,970,540 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash, cash equivalents and restricted cash $ — $ 131,522 $ 20,181 $ — $ 151,703 Mortgage loans held for sale — — 171,580 — 171,580 Inventory — 1,414,574 — — 1,414,574 Property and equipment - net — 25,815 1,001 — 26,816 Investment in joint venture arrangements — 13,930 6,595 — 20,525 Deferred income tax asset — 18,438 — — 18,438 Investment in subsidiaries 722,508 — — (722,508 ) — Intercompany assets 650,599 — — (650,599 ) — Other assets 3,154 48,430 9,551 — 61,135 TOTAL ASSETS $ 1,376,261 $ 1,652,709 $ 208,908 $ (1,373,107 ) $ 1,864,771 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 116,773 $ 460 $ — $ 117,233 Customer deposits — 26,378 — — 26,378 Intercompany liabilities — 645,048 5,551 (650,599 ) — Other liabilities — 126,522 5,012 — 131,534 Community development district obligations — 13,049 — — 13,049 Obligation for consolidated inventory not owned — 21,545 — — 21,545 Notes payable bank - financial services operations — — 168,195 — 168,195 Notes payable - other — 10,576 — — 10,576 Convertible senior subordinated notes due 2018 - net 86,132 — — — 86,132 Senior notes due 2021 - net 296,780 — — — 296,780 Senior notes due 2025 - net 246,051 — — — 246,051 TOTAL LIABILITIES 628,963 959,891 179,218 (650,599 ) 1,117,473 SHAREHOLDERS’ EQUITY 747,298 692,818 29,690 (722,508 ) 747,298 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,376,261 $ 1,652,709 $ 208,908 $ (1,373,107 ) $ 1,864,771 UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 5,750 $ (95,387 ) $ 75,686 $ (5,750 ) $ (19,701 ) INVESTING ACTIVITIES: Purchase of property and equipment — (4,449 ) (166 ) — (4,615 ) Acquisition — (100,960 ) — — (100,960 ) Intercompany investing (6,176 ) — — 6,176 — Investments in and advances to joint venture arrangements — (3,485 ) (836 ) — (4,321 ) Return of capital from unconsolidated joint ventures — — 676 — 676 Net proceeds from the sale of mortgage servicing rights — — 5,111 — 5,111 Net cash (used in) provided by investing activities (6,176 ) (108,894 ) 4,785 6,176 (104,109 ) FINANCING ACTIVITIES: Repayment of convertible senior subordinated notes due 2018 — (65,941 ) — — (65,941 ) Proceeds from bank borrowings - homebuilding operations — 353,900 — — 353,900 Principal repayments of bank borrowings - homebuilding operations — (172,100 ) — — (172,100 ) Net repayments of bank borrowings - financial services operations — — (75,032 ) — (75,032 ) Principal repayment of notes payable - other and CDD bond obligations — (1,214 ) — — (1,214 ) Proceeds from exercise of stock options 426 — — — 426 Intercompany financing — 8,862 (2,686 ) (6,176 ) — Dividends paid — — (5,750 ) 5,750 — Debt issue costs — (75 ) (40 ) — (115 ) Net cash provided by (used in) financing activities 426 123,432 (83,508 ) (426 ) 39,924 Net decrease in cash, cash equivalents and restricted cash — (80,849 ) (3,037 ) — (83,886 ) Cash, cash equivalents and restricted cash balance at beginning of period — 131,522 20,181 — 151,703 Cash, cash equivalents and restricted cash balance at end of period $ — $ 50,673 $ 17,144 $ — $ 67,817 Six Months Ended June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 5,500 $ (120,894 ) $ 81,574 $ (5,500 ) $ (39,320 ) INVESTING ACTIVITIES: Purchase of property and equipment — (1,785 ) (87 ) — (1,872 ) Intercompany Investing (7,854 ) — — 7,854 — Investments in and advances to joint venture arrangements — (2,128 ) (3,679 ) — (5,807 ) Return of capital from unconsolidated joint ventures — — 1,078 — 1,078 Net proceeds from the sale of mortgage servicing rights — — 7,558 — 7,558 Net cash (used in) provided by investing activities (7,854 ) (3,913 ) 4,870 7,854 957 FINANCING ACTIVITIES: Proceeds from bank borrowings - homebuilding operations — 289,400 — — 289,400 Principal repayments of bank borrowings - homebuilding operations — (191,700 ) — — (191,700 ) Net repayments of bank borrowings - financial services operations — — (63,377 ) — (63,377 ) Proceeds from notes payable - other and CDD bond obligations — (2,752 ) — — (2,752 ) Intercompany financing — 15,027 (7,173 ) (7,854 ) — Dividends paid (2,438 ) — (5,500 ) 5,500 (2,438 ) Debt issue costs — — (63 ) — (63 ) Proceeds from exercise of stock options 4,792 — — — 4,792 Net cash provided by (used in) financing activities 2,354 109,975 (76,113 ) (2,354 ) 33,862 Net (decrease) increase in cash, cash equivalents and restricted cash — (14,832 ) 10,331 — (4,501 ) Cash, cash equivalents and restricted cash balance at beginning of period — 20,927 13,514 — 34,441 Cash, cash equivalents and restricted cash balance at end of period $ — $ 6,095 $ 23,845 $ — $ 29,940

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2018
Revenue Recognition Policy [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition. On January 1, 2018, we adopted ASC 606, Revenue from Contracts from Customers (“ASC 606”), using the modified retrospective transition method, which includes a cumulative catch-up in retained earnings on the initial date of adoption for existing contracts (those that are not completed) as of, and new contracts after, January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under ASC 605, Revenue Recognition (“ASC 605”) . We did not have any material adjustments to our 2018 results under ASC 606. Revenue from the sale of a home and revenue from the sale of land to third parties is recognized in the financial statements on the date of closing (point in time) if delivery has occurred, title has passed, all performance obligations have been met (please see definition of performance obligations below), and control of the home or land is transferred to the buyer in an amount that reflects the consideration we expect to be entitled to in exchange for the home or land. We recognize the majority of the revenue associated with our mortgage loan operations when the mortgage loans are sold and/or related servicing rights are sold to third party investors or retained and managed under a third party subservice arrangement. The revenue recognized is reduced by the fair value of the related guarantee provided to the investor. The fair value of the guarantee is recognized in revenue when the Company is released from its obligation under the guarantee (note that guarantees are excluded from the scope of ASC 606). We recognize financial services revenue associated with our title operations as homes are delivered, closing services are rendered, and title policies are issued, all of which generally occur simultaneously as each home is delivered. All of the underwriting risk associated with title insurance policies is transferred to third-party insurers. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. All of our contracts to sell homes have a single performance obligation as the promise to transfer the home is not separately identifiable from other promises in the contract and, therefore, not distinct. Our third party land contracts may include multiple performance obligations; however, revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, is not material. We generally expense sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within general, selling and administrative expenses as part of our sales and marketing expenses. We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. The following table presents our revenues disaggregated by geography: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 (a) 2017 2018 2017 Midwest homebuilding $ 226,902 $ 168,469 $ 385,522 $ 314,891 Southern homebuilding 237,582 178,780 427,970 328,145 Mid-Atlantic homebuilding 81,738 97,749 155,561 194,635 Financial services (b) 11,876 11,868 26,902 26,175 Total revenue $ 558,098 $ 456,866 $ 995,955 $ 863,846 (a) As noted above, prior period amounts have not been adjusted under the cumulative catch-up transition method. (b) Revenues include $0.2 million related to hedging gains for the three months ended June 30, 2018 and $2.0 million related to hedging losses for the three months ended June 30, 2017 . Revenues include $3.2 million and $2.6 million related to hedging gains for the six months ended June 30, 2018 and 2017 , respectively. Hedging gains (losses) do not represent revenues recognized from contracts with customers. The following table presents our revenues disaggregated by revenue source: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2018 (a) 2017 2018 2017 Housing $ 545,034 $ 443,093 $ 963,458 $ 830,551 Land sales 1,188 1,905 5,595 7,120 Financial services (b) 11,876 11,868 26,902 26,175 Total revenue $ 558,098 $ 456,866 $ 995,955 $ 863,846 (a) As noted above, prior period amounts have not been adjusted under the cumulative catch-up transition method. (b) Revenues include $0.2 million related to hedging gains for the three months ended June 30, 2018 and $2.0 million related to hedging losses for the three months ended June 30, 2017 . Revenues include $3.2 million and $2.6 million related to hedging gains for the six months ended June 30, 2018 and 2017 , respectively. Hedging gains (losses) do not represent revenues recognized from contracts with customers.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill. Goodwill represents the excess of the purchase price paid over the fair value of the net assets acquired and liabilities assumed in business combinations. Because the purchase price allocation is subject to change within a measurement period of up to one year from the acquisition date pursuant to ASC 805, in connection with the Company’s acquisition of the homebuilding assets and operations of Pinnacle Homes in Detroit, Michigan, the Company recorded a provisional amount of goodwill of approximately $16.4 million as of June 30, 2018 , which is included as Goodwill in our Unaudited Condensed Consolidated Balance Sheets. This provisional amount was based on the estimated fair values of the acquired assets and assumed liabilities at the date of the acquisition in accordance with ASC 350, Intangibles, Goodwill and Other (“ASC 350”). Please see Note 7 to our financial statements for further discussion. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment , which eliminates Step 2 from the goodwill impairment test in order to simplify the subsequent measurement of goodwill. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. As a result of this ASU, the Company will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. ASU 2017-04 is effective beginning January 1, 2020, with early adoption permitted, and applied prospectively. The Company has elected to early adopt this ASU effective for the current reporting period in its impairment testing and analyses. The Company’s goodwill is described in Note 7 to our financial statements. In accordance with ASC 350, the Company analyzes goodwill for impairment on an annual basis (or more often if indicators of impairment exist). The Company performs a qualitative assessment to determine whether the existence of events or circumstances leads to a determination that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. When performing a qualitative assessment, the Company evaluates qualitative factors such as (1) macroeconomic conditions, such as a deterioration in general economic conditions; (2) industry and market considerations such as deterioration in the environment in which the entity operates; (3) cost factors such as increases in raw materials and labor costs; and (4) overall financial performance such as negative or declining cash flows or a decline in actual or planned revenue or earnings, to determine if it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount. If the qualitative assessment indicates that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount, then a quantitative assessment is performed to determine the reporting unit’s fair value. If the reporting unit’s carrying value exceeds its fair value, then an impairment loss is recognized for the amount of the excess of the carrying amount over the reporting unit’s fair value. The evaluation of goodwill for possible impairment includes estimating fair value using one or a combination of valuation techniques, such as discounted cash flows. These valuations require the Company to make estimates and assumptions regarding future operating results, cash flows, changes in capital expenditures, selling prices, profitability, and the cost of capital. Although the Company believes its assumptions and estimates are reasonable, deviations from the assumptions and estimates could produce a materially different result.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in ASC 605 and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, “Revenue Recognition-Construction-Type and Production-Type Contracts.” ASU 2014-09’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date , which delayed the effective date of ASU 2014-09 by one year. ASU 2014-09, as amended, is effective for public companies for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Subsequent to the issuance of ASU 2014-09, the FASB has issued several ASUs, such as ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net) , ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing , and ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients . These ASUs do not change the core principle of the guidance stated in ASU 2014-09. Instead, these amendments are intended to clarify and improve the operability of certain topics addressed by ASU 2014-09. These additional ASUs have the same effective date and transition requirements as ASU 2014-09, as amended. We adopted the standard, and the subsequently issued standards mentioned above, on January 1, 2018 using the modified retrospective transition method, which includes a cumulative catch-up in retained earnings on the initial date of adoption for existing contracts (those that are not completed) as of, and new contracts after, January 1, 2018. The adoption did not have a material impact on our consolidated financial statements. The amount and timing of our housing and land revenue remained substantially unchanged, and we did not have significant changes to our business processes, systems, or internal controls as a result of adopting the standard. The Company has developed the additional expanded disclosures required (please see our Significant Accounting Policies section above); however, the adoption did not have a material impact on its consolidated results of operations, financial position and cash flows. In February 2017, the FASB issued ASU 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (“ASU 2017-05”). ASU 2017-05 is intended to clarify the scope of the original guidance within Subtopic 610-20 that was issued in connection with ASU 2014-09, which provides guidance for recognizing gains and losses from the transfer of nonfinancial assets in contracts with noncustomers. ASU 2017-05 additionally added guidance for partial sales of nonfinancial assets. ASU 2017-05 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. We were required to adopt ASU 2017-05 concurrent with the adoption of ASU 2014-09. The adoption of ASU 2017-05 did not have a material impact on the Company’s consolidated financial statements and disclosures. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). ASU 2016-15 provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. For public entities, ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2016-15 did not modify the Company's current disclosures within the condensed consolidated statement of cash flows and did not have any impact on the Company’s consolidated financial statements and disclosures. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”), which provides a more robust framework for determining whether transactions should be accounted for as acquisitions (or dispositions) of assets or businesses. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company adopted the standard on January 1, 2018. The adoption of ASU 2017-01 did not have an impact on the Company’s consolidated financial statements and disclosures as the Company’s acquisition during the first quarter of 2018 met all requirements to be accounted for as a business acquisition. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment , which eliminates Step 2 from the goodwill impairment test in order to simplify the subsequent measurement of goodwill. The guidance is effective for fiscal years beginning after December 15, 2019. Early application is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company adopted the standard on January 1, 2018. The adoption of ASU 2017-04 did not have an impact on the Company’s consolidated financial statements and disclosures as it will perform its annual goodwill impairment analysis during the fourth quarter of 2018 (as no indicators for impairment existed at June 30, 2018 ).
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Impact of New Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”). ASU 2016-02 will require organizations that lease assets - referred to as “lessees” - to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Under ASU 2016-02, a lessee will be required to recognize assets and liabilities for leases with lease terms of more than 12 months. Lessor accounting remains substantially similar to current GAAP. In addition, disclosures of leasing activities will be expanded to include qualitative and specific quantitative information. For public entities, ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2016-02 mandates a modified retrospective transition method. The Company continues to evaluate the potential impact the adoption of ASU 2016-02 will have on the Company’s consolidated financial statements and disclosures; however, because a large majority of our leases are for office space, which we have determined will be treated as operating leases under ASU 2016-02, we anticipate recording a right-of-use asset and related lease liability for these leases, but do not expect our expense recognition pattern to change. In March 2017, the FASB issued ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities (“ASU 2017-08”), which shortens the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. For public entities, ASU 2017-08 is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company does not believe the adoption of ASU 2017-08 will have a material impact on the Company’s consolidated financial statements and disclosures. In January 2018, the FASB issued ASU 2018-01, Land Easement Practical Expedient for Transition to Topic 842 (ASU 2018-01”), which provides an optional transition practical expedient to not evaluate under Topic 842 existing or expired land easements that were not previously accounted for as leases under the current lease guidance in Topic 840. An entity that elects this practical expedient should evaluate new or modified land easements under Topic 842 beginning at the date the entity adopts Topic 842; otherwise, an entity should evaluate all existing or expired land easements in connection with the adoption of the new lease requirements in Topic 842 to assess whether they meet the definition of a lease. The effective date and transition requirements for the amendments are the same as the effective date and transition requirements in ASU 2016-02. This ASU is not expected to have a significant impact on the Company's expected impact of the adoption of ASU 2016-02 (discussed above) or its consolidated financial statements and disclosures. In March 2018, the FASB issued ASU 2018-05, which amends Income Taxes (Topic 740) by incorporating the Securities and Exchange Commission’s (“SEC”) Staff Accounting Bulletin 118 (“SAB 118”) issued on December 22, 2017. SAB 118 provides guidance on accounting for the effects of the Tax Cuts and Jobs Act of 2017 (the “Tax Act”). We recognized the income tax effects of the Tax Act in our 2017 financial statements in accordance with SAB 118. Please see Note 10 to our financial statements for additional disclosures.

Basis of Presentation Basis o20

Basis of Presentation Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue Recognition Policy [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents our revenues disaggregated by geography: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 (a) 2017 2018 2017 Midwest homebuilding $ 226,902 $ 168,469 $ 385,522 $ 314,891 Southern homebuilding 237,582 178,780 427,970 328,145 Mid-Atlantic homebuilding 81,738 97,749 155,561 194,635 Financial services (b) 11,876 11,868 26,902 26,175 Total revenue $ 558,098 $ 456,866 $ 995,955 $ 863,846 (a) As noted above, prior period amounts have not been adjusted under the cumulative catch-up transition method. (b) Revenues include $0.2 million related to hedging gains for the three months ended June 30, 2018 and $2.0 million related to hedging losses for the three months ended June 30, 2017 . Revenues include $3.2 million and $2.6 million related to hedging gains for the six months ended June 30, 2018 and 2017 , respectively. Hedging gains (losses) do not represent revenues recognized from contracts with customers. The following table presents our revenues disaggregated by revenue source: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2018 (a) 2017 2018 2017 Housing $ 545,034 $ 443,093 $ 963,458 $ 830,551 Land sales 1,188 1,905 5,595 7,120 Financial services (b) 11,876 11,868 26,902 26,175 Total revenue $ 558,098 $ 456,866 $ 995,955 $ 863,846 (a) As noted above, prior period amounts have not been adjusted under the cumulative catch-up transition method. (b) Revenues include $0.2 million related to hedging gains for the three months ended June 30, 2018 and $2.0 million related to hedging losses for the three months ended June 30, 2017 . Revenues include $3.2 million and $2.6 million related to hedging gains for the six months ended June 30, 2018 and 2017 , respectively. Hedging gains (losses) do not represent revenues recognized from contracts with customers.

Inventory and Capitalized Int21

Inventory and Capitalized Interest Inventory (Tables)	6 Months Ended
	Jun. 30, 2018
Inventory [Abstract]
Schedule of Inventory, Current [Table Text Block]	A summary of the Company’s inventory as of June 30, 2018 and December 31, 2017 is as follows: (In thousands) June 30, 2018 December 31, 2017 Single-family lots, land and land development costs $ 740,972 $ 687,260 Land held for sale 12,715 6,491 Homes under construction 757,478 579,051 Model homes and furnishings - at cost (less accumulated depreciation: June 30, 2018 - $13,711; December 31, 2017 - $12,715) 80,901 74,622 Community development district infrastructure 11,789 13,049 Land purchase deposits 33,820 32,556 Consolidated inventory not owned 14,793 21,545 Total inventory $ 1,652,468 $ 1,414,574
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	The summary of capitalized interest for the three and six months ended June 30, 2018 and 2017 is as follows : Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Capitalized interest, beginning of period $ 18,264 $ 16,008 $ 17,169 $ 16,012 Interest capitalized to inventory 7,191 5,300 13,150 9,062 Capitalized interest charged to land and housing costs and expenses (6,203 ) (4,843 ) (11,067 ) (8,609 ) Capitalized interest, end of period $ 19,252 $ 16,465 $ 19,252 $ 16,465 Interest incurred $ 12,079 $ 9,134 $ 23,916 $ 18,234

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Measurements [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The table below shows the notional amounts of our financial instruments at June 30, 2018 and December 31, 2017 : Description of Financial Instrument (in thousands) June 30, 2018 December 31, 2017 Whole loan contracts and related committed IRLCs $ 5,330 $ 2,182 Uncommitted IRLCs 123,897 50,746 FMBSs related to uncommitted IRLCs 126,000 53,000 Whole loan contracts and related mortgage loans held for sale 8,992 80,956 FMBSs related to mortgage loans held for sale 97,000 91,000 Mortgage loans held for sale covered by FMBSs 97,281 90,781
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	The table below shows the level and measurement of assets and liabilities measured on a recurring basis at June 30, 2018 and December 31, 2017 : Description of Financial Instrument (in thousands) Fair Value Measurements June 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage loans held for sale $ 108,000 $ — $ 108,000 $ — Forward sales of mortgage-backed securities (783 ) — (783 ) — Interest rate lock commitments 1,104 — 1,104 — Whole loan contracts (122 ) — (122 ) — Total $ 108,199 $ — $ 108,199 $ — Description of Financial Instrument (in thousands) Fair Value Measurements December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage loans held for sale $ 171,580 $ — $ 171,580 $ — Forward sales of mortgage-backed securities 177 — 177 — Interest rate lock commitments 271 — 271 — Whole loan contracts 12 — 12 — Total $ 172,040 $ — $ 172,040 $ —
Schedule of Derivative Instruments, (Loss) Gain in Statement of Financial Performance [Table Text Block]	The following table sets forth the amount of gain (loss) recognized, within our revenue in the Unaudited Condensed Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the three and six months ended June 30, 2018 and 2017 : Three Months Ended June 30, Six Months Ended June 30, Description (in thousands) 2018 2017 2018 2017 Mortgage loans held for sale $ 642 $ (484 ) $ 1,317 $ 4,390 Forward sales of mortgage-backed securities (658 ) 1,280 (960 ) 369 Interest rate lock commitments 138 (748 ) 843 94 Whole loan contracts (61 ) 305 (144 ) 71 Total gain recognized $ 61 $ 353 $ 1,056 $ 4,924
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The following tables set forth the fair value of the Company’s derivative instruments and their location within the Unaudited Condensed Consolidated Balance Sheets for the periods indicated (except for mortgage loans held for sale which is disclosed as a separate line item): Asset Derivatives Liability Derivatives June 30, 2018 June 30, 2018 Description of Derivatives Balance Sheet Location Fair Value (in thousands) Balance Sheet Location Fair Value (in thousands) Forward sales of mortgage-backed securities Other assets $ — Other liabilities $ 783 Interest rate lock commitments Other assets 1,104 Other liabilities — Whole loan contracts Other assets — Other liabilities 122 Total fair value measurements $ 1,104 $ 905 Asset Derivatives Liability Derivatives December 31, 2017 December 31, 2017 Description of Derivatives Balance Sheet Location Fair Value (in thousands) Balance Sheet Location Fair Value (in thousands) Forward sales of mortgage-backed securities Other assets $ 177 Other liabilities $ — Interest rate lock commitments Other assets 271 Other liabilities — Whole loan contracts Other assets 12 Other liabilities — Total fair value measurements $ 460 $ —
Fair Value, by Balance Sheet Grouping [Table Text Block]	The following table presents the carrying amounts and fair values of the Company’s financial instruments at June 30, 2018 and December 31, 2017 . The objective of the fair value measurement is to estimate the price at which an orderly transaction to sell the asset or transfer the liability would take place between market participants at the measurement date under current market conditions. June 30, 2018 December 31, 2017 (In thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash, cash equivalents and restricted cash $ 67,817 $ 67,817 $ 151,703 $ 151,703 Mortgage loans held for sale 108,000 108,000 171,580 171,580 Split dollar life insurance policies 209 209 209 209 Commitments to extend real estate loans 1,104 1,104 271 271 Whole loan contracts for committed IRLCs and mortgage loans held for sale — — 12 12 Forward sales of mortgage-backed securities — — 177 177 Liabilities: Notes payable - homebuilding operations 181,800 181,800 — — Notes payable - financial services operations 93,163 93,163 168,195 168,195 Notes payable - other 9,362 8,504 10,576 9,437 Convertible senior subordinated notes due 2018 (a) — — 86,250 93,581 Senior notes due 2021 (a) 300,000 308,250 300,000 310,875 Senior notes due 2025 (a) 250,000 233,125 250,000 252,500 Whole loan contracts for committed IRLCs and mortgage loans held for sale 122 122 — — Forward sales of mortgage-backed securities 783 783 — — Off-Balance Sheet Financial Instruments: Letters of credit — 955 — 1,083 (a) Our senior notes and convertible senior subordinated notes are stated at the principal amount outstanding which does not include the impact of premiums, discounts, and debt issuance costs that are amortized to interest cost over the respective terms of the notes.

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2018
Warranty Accrual Rollforward [Abstract]
Schedule of Product Warranty Liability [Table Text Block]	A summary of warranty activity for the three and six months ended June 30, 2018 and 2017 is as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Warranty reserves, beginning of period $ 24,301 $ 24,980 $ 26,133 $ 27,732 Warranty expense on homes delivered during the period 3,299 2,783 5,842 5,212 Changes in estimates for pre-existing warranties 557 332 465 1,062 Charges related to stucco-related claims (a) — 8,500 — 8,500 Settlements made during the period (4,878 ) (6,292 ) (9,161 ) (12,203 ) Warranty reserves, end of period $ 23,279 $ 30,303 $ 23,279 $ 30,303 (a) Estimated stucco-related repair costs, as described below, have been included in warranty accruals.

Earnings per Share Earnings per

Earnings per Share Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The table below presents a reconciliation between basic and diluted weighted average shares outstanding, net income available to common shareholders and basic and diluted income per share for the three and six months ended June 30, 2018 and 2017 : Three Months Ended Six Months Ended June 30, June 30, (In thousands, except per share amounts) 2018 2017 2018 2017 NUMERATOR Net income $ 27,911 $ 16,989 $ 45,974 $ 33,872 Preferred stock dividends (a) — (1,219 ) — (2,438 ) Net income available to common shareholders 27,911 15,770 45,974 31,434 Interest on 3.25% convertible senior subordinated notes due 2017 (b) — 391 — 782 Interest on 3.00% convertible senior subordinated notes due 2018 (c) — 527 409 1,055 Diluted income available to common shareholders $ 27,911 $ 16,688 $ 46,383 $ 33,271 DENOMINATOR Basic weighted average shares outstanding 28,571 24,990 28,349 24,864 Effect of dilutive securities: Stock option awards 353 335 409 330 Deferred compensation awards 177 209 194 192 3.25% convertible senior subordinated notes due 2017 (b) — 2,416 — 2,416 3.00% convertible senior subordinated notes due 2018 (c) — 2,669 866 2,669 Diluted weighted average shares outstanding - adjusted for assumed conversions 29,101 30,619 29,818 30,471 Earnings per common share: Basic $ 0.98 $ 0.63 $ 1.62 $ 1.26 Diluted $ 0.96 $ 0.55 $ 1.56 $ 1.09 Anti-dilutive equity awards not included in the calculation of diluted earnings per common share 434 — 326 47 (a) The Company’s Articles of Incorporation authorize the issuance of up to 2,000,000 preferred shares, par value $.01 per share. On March 15, 2007, the Company issued 4,000,000 depositary shares, each representing 1/1000th of a 9.75% Series A Preferred Share of the Company (the “Series A Preferred Shares”), or 4,000 Series A Preferred Shares in the aggregate. On April 10, 2013, the Company redeemed 2,000 of its Series A Preferred Shares (and the 2,000,000 related depositary shares) for an aggregate redemption price of approximately $50.4 million in cash. On October 16, 2017, the Company redeemed the remaining 2,000 outstanding Series A Preferred Shares (and the 2,000,000 related depositary shares) for an aggregate redemption price of approximately $50.4 million in cash. The Company declared and paid a quarterly cash dividend of $609.375 per share on its then outstanding Series A Preferred Shares in both the first and second quarter of 2017 , for an aggregate dividend payment on the Series A Preferred Shares of $1.2 million and $2.4 million in the three and six months ended June 30, 2017 , respectively. (b) On September 11, 2012, the Company issued $57.5 million in aggregate principal amount of 3.25% Convertible Senior Subordinated Notes due 2017 (the “2017 Convertible Senior Subordinated Notes”). The 2017 Convertible Senior Subordinated Notes were scheduled to mature on September 15, 2017 and the deadline for holders to convert the 2017 Convertible Senior Subordinated Notes was September 13, 2017. As a result of conversion elections made by holders of the 2017 Convertible Senior Subordinated Notes, all $57.5 million in aggregate principal amount of the 2017 Convertible Senior Subordinated Notes were converted and settled through the issuance of our common shares. In total, we issued approximately 2.4 million common shares (at a conversion price per common share of $23.80 ). (c) On March 1, 2013, the Company issued $86.3 million in aggregate principal amount of 2018 Convertible Senior Subordinated Notes. The 2018 Convertible Senior Subordinated Notes were scheduled to mature on March 1, 2018 and the deadline for holders to convert the 2018 Convertible Senior Subordinated Notes was February 27, 2018. As a result of conversion elections made by holders of the 2018 Convertible Senior Subordinated Notes, (1) approximately $20.3 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes were converted and settled through the issuance of approximately 0.629 million of our common shares (at a conversion price per common share of $32.31 ) and (2) the Company repaid in cash approximately $65.9 million in aggregate principal amount of the 2018 Convertible Senor Subordinated Notes at maturity.

Business Segments Business Segm

Business Segments Business Segments (Tables)	6 Months Ended
	Jun. 30, 2018
Business Segments [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The following table shows, by segment: revenue, operating income and interest expense for the three and six months ended June 30, 2018 and 2017 , as well as the Company’s income before income taxes for such periods: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Revenue: Midwest homebuilding $ 226,902 $ 168,469 $ 385,522 $ 314,891 Southern homebuilding 237,582 178,780 427,970 328,145 Mid-Atlantic homebuilding 81,738 97,749 155,561 194,635 Financial services (a) 11,876 11,868 26,902 26,175 Total revenue $ 558,098 $ 456,866 $ 995,955 $ 863,846 Operating income: Midwest homebuilding (b) $ 18,981 $ 17,984 $ 31,198 $ 32,843 Southern homebuilding (c) 19,370 4,709 34,220 13,421 Mid-Atlantic homebuilding 5,106 9,588 7,698 16,841 Financial services (a) 5,938 6,860 15,478 16,090 Less: Corporate selling, general and administrative expense (10,890 ) (10,232 ) (18,948 ) (18,630 ) Total operating income (b) (c) $ 38,505 $ 28,909 $ 69,646 $ 60,565 Interest expense: Midwest homebuilding $ 1,812 $ 863 $ 3,878 $ 2,240 Southern homebuilding 1,908 1,791 4,195 4,168 Mid-Atlantic homebuilding 473 515 1,229 1,431 Financial services (a) 695 665 1,464 1,333 Total interest expense $ 4,888 $ 3,834 $ 10,766 $ 9,172 Equity in loss (income) from joint venture arrangements 86 (110 ) (224 ) (127 ) Acquisition and integration costs (d) — — 1,700 — Income before income taxes $ 33,531 $ 25,185 $ 57,404 $ 51,520 (a) Our financial services operational results should be viewed in connection with our homebuilding business as its operations originate loans and provide title services primarily for our homebuying customers, with the exception of an immaterial amount of mortgage refinancing. (b) Includes $3.0 million and $3.9 million of charges related to purchase accounting adjustments taken during the three and six months ended June 30, 2018 , respectively, as a result of our acquisition of Pinnacle Homes in Detroit, Michigan on March 1, 2018. (c) Includes an $8.5 million charge for stucco-related repair costs in certain of our Florida communities taken during both the three and six months ended June 30, 2017 (as more fully discussed in Note 6 to our financial statements). (d) Represents costs which include, but are not limited to, legal fees and expenses, travel and communication expenses, cost of appraisals, accounting fees and expenses, and miscellaneous expenses related to our recent acquisition of Pinnacle Homes. As these costs are not eligible for capitalization as initial direct costs, such amounts are expensed as incurred. The following tables show total assets by segment at June 30, 2018 and December 31, 2017 : June 30, 2018 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 5,933 $ 20,724 $ 7,163 $ — $ 33,820 Inventory (a) 657,154 697,404 264,090 — 1,618,648 Investments in joint venture arrangements 342 5,088 8,323 — 13,753 Other assets 26,288 36,977 (b) 16,440 224,614 304,319 Total assets $ 689,717 $ 760,193 $ 296,016 $ 224,614 $ 1,970,540 December 31, 2017 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 4,933 $ 20,719 $ 6,904 $ — $ 32,556 Inventory (a) 500,671 636,019 245,328 — 1,382,018 Investments in joint venture arrangements 4,410 9,677 6,438 — 20,525 Other assets 13,573 38,784 (b) 13,311 364,004 429,672 Total assets $ 523,587 $ 705,199 $ 271,981 $ 364,004 $ 1,864,771 (a) Inventory includes single-family lots, land and land development costs; land held for sale; homes under construction; model homes and furnishings; community development district infrastructure; and consolidated inventory not owned. (b) Includes development reimbursements from local municipalities.

Supplemental Guarantor Inform26

Supplemental Guarantor Information Supplemental Guarantor Information (Tables)	6 Months Ended
	Jun. 30, 2018
Supplemental Guarantor Information [Abstract]
Schedule Of Condensed Consolidating Statement Of Operations [Table Text Block]	UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME Three Months Ended June 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 546,222 $ 11,876 $ — $ 558,098 Costs and expenses: Land and housing — 449,336 — — 449,336 General and administrative — 28,570 6,096 — 34,666 Selling — 35,591 — — 35,591 Equity in loss from joint venture arrangements — — 86 — 86 Interest — 4,193 695 — 4,888 Total costs and expenses — 517,690 6,877 — 524,567 Income before income taxes — 28,532 4,999 — 33,531 Provision for income taxes — 4,552 1,068 — 5,620 Equity in subsidiaries 27,911 — — (27,911 ) — Net income $ 27,911 $ 23,980 $ 3,931 $ (27,911 ) $ 27,911 Three Months Ended June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 444,998 $ 11,868 $ — $ 456,866 Costs and expenses: Land and housing — 367,598 — — 367,598 General and administrative — 24,915 5,197 — 30,112 Selling — 30,247 — — 30,247 Equity in income from joint venture arrangements — — (110 ) — (110 ) Interest — 3,169 665 — 3,834 Total costs and expenses — 425,929 5,752 — 431,681 Income before income taxes — 19,069 6,116 — 25,185 Provision for income taxes — 6,246 1,950 — 8,196 Equity in subsidiaries 16,989 — — (16,989 ) — Net income 16,989 12,823 4,166 (16,989 ) 16,989 Preferred dividends 1,219 — — — 1,219 Net income available to common shareholders $ 15,770 $ 12,823 $ 4,166 $ (16,989 ) $ 15,770 Six Months Ended June 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 969,053 $ 26,902 $ — $ 995,955 Costs and expenses: Land and housing — 798,038 — — 798,038 General and administrative — 50,741 11,876 — 62,617 Selling — 65,654 — — 65,654 Acquisition and integration costs — 1,700 — — 1,700 Equity in income from joint venture arrangements — — (224 ) — (224 ) Interest — 9,301 1,465 — 10,766 Total costs and expenses — 925,434 13,117 — 938,551 Income before income taxes — 43,619 13,785 — 57,404 Provision for income taxes — 8,458 2,972 — 11,430 Equity in subsidiaries 45,974 — — (45,974 ) — Net income $ 45,974 $ 35,161 $ 10,813 $ (45,974 ) $ 45,974 Six Months Ended June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 837,671 $ 26,175 $ — $ 863,846 Costs and expenses: Land and housing — 687,879 — — 687,879 General and administrative — 47,375 10,497 — 57,872 Selling — 57,530 — — 57,530 Equity in income from joint venture arrangements — — (127 ) — (127 ) Interest — 7,839 1,333 — 9,172 Total costs and expenses — 800,623 11,703 — 812,326 Income before income taxes — 37,048 14,472 — 51,520 Provision for income taxes — 12,735 4,913 — 17,648 Equity in subsidiaries 33,872 — — (33,872 ) — Net income 33,872 24,313 9,559 (33,872 ) 33,872 Preferred dividends 2,438 — — — 2,438 Net income available to common shareholders $ 31,434 $ 24,313 $ 9,559 $ (33,872 ) $ 31,434
Schedule Of Condensed Consolidating Balance Sheet [Table Text Block]	UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash, cash equivalents and restricted cash $ — $ 50,673 $ 17,144 $ — $ 67,817 Mortgage loans held for sale — — 108,000 — 108,000 Inventory — 1,652,468 — — 1,652,468 Property and equipment - net — 27,879 1,006 — 28,885 Investment in joint venture arrangements — 11,541 2,212 — 13,753 Deferred income tax asset — 17,528 — — 17,528 Investment in subsidiaries 762,731 — — (762,731 ) — Intercompany assets 594,094 — — (594,094 ) — Goodwill — 16,400 — — 16,400 Other assets 2,784 53,935 8,970 — 65,689 TOTAL ASSETS $ 1,359,609 $ 1,830,424 $ 137,332 $ (1,356,825 ) $ 1,970,540 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 140,663 $ 828 $ — $ 141,491 Customer deposits — 41,510 — — 41,510 Intercompany liabilities — 590,943 3,151 (594,094 ) — Other liabilities — 111,585 5,437 — 117,022 Community development district obligations — 11,789 — — 11,789 Obligation for consolidated inventory not owned — 14,794 — — 14,794 Notes payable bank - homebuilding operations — 181,800 — — 181,800 Notes payable bank - financial services operations — — 93,163 — 93,163 Notes payable - other — 9,362 — — 9,362 Senior notes due 2021 - net 297,332 — — — 297,332 Senior notes due 2025 - net 246,311 — — — 246,311 TOTAL LIABILITIES 543,643 1,102,446 102,579 (594,094 ) 1,154,574 SHAREHOLDERS’ EQUITY 815,966 727,978 34,753 (762,731 ) 815,966 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,359,609 $ 1,830,424 $ 137,332 $ (1,356,825 ) $ 1,970,540 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash, cash equivalents and restricted cash $ — $ 131,522 $ 20,181 $ — $ 151,703 Mortgage loans held for sale — — 171,580 — 171,580 Inventory — 1,414,574 — — 1,414,574 Property and equipment - net — 25,815 1,001 — 26,816 Investment in joint venture arrangements — 13,930 6,595 — 20,525 Deferred income tax asset — 18,438 — — 18,438 Investment in subsidiaries 722,508 — — (722,508 ) — Intercompany assets 650,599 — — (650,599 ) — Other assets 3,154 48,430 9,551 — 61,135 TOTAL ASSETS $ 1,376,261 $ 1,652,709 $ 208,908 $ (1,373,107 ) $ 1,864,771 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 116,773 $ 460 $ — $ 117,233 Customer deposits — 26,378 — — 26,378 Intercompany liabilities — 645,048 5,551 (650,599 ) — Other liabilities — 126,522 5,012 — 131,534 Community development district obligations — 13,049 — — 13,049 Obligation for consolidated inventory not owned — 21,545 — — 21,545 Notes payable bank - financial services operations — — 168,195 — 168,195 Notes payable - other — 10,576 — — 10,576 Convertible senior subordinated notes due 2018 - net 86,132 — — — 86,132 Senior notes due 2021 - net 296,780 — — — 296,780 Senior notes due 2025 - net 246,051 — — — 246,051 TOTAL LIABILITIES 628,963 959,891 179,218 (650,599 ) 1,117,473 SHAREHOLDERS’ EQUITY 747,298 692,818 29,690 (722,508 ) 747,298 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,376,261 $ 1,652,709 $ 208,908 $ (1,373,107 ) $ 1,864,771
Schedule Of Condensed Consolidating Statement Of Cash Flows [Table Text Block]	UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 5,750 $ (95,387 ) $ 75,686 $ (5,750 ) $ (19,701 ) INVESTING ACTIVITIES: Purchase of property and equipment — (4,449 ) (166 ) — (4,615 ) Acquisition — (100,960 ) — — (100,960 ) Intercompany investing (6,176 ) — — 6,176 — Investments in and advances to joint venture arrangements — (3,485 ) (836 ) — (4,321 ) Return of capital from unconsolidated joint ventures — — 676 — 676 Net proceeds from the sale of mortgage servicing rights — — 5,111 — 5,111 Net cash (used in) provided by investing activities (6,176 ) (108,894 ) 4,785 6,176 (104,109 ) FINANCING ACTIVITIES: Repayment of convertible senior subordinated notes due 2018 — (65,941 ) — — (65,941 ) Proceeds from bank borrowings - homebuilding operations — 353,900 — — 353,900 Principal repayments of bank borrowings - homebuilding operations — (172,100 ) — — (172,100 ) Net repayments of bank borrowings - financial services operations — — (75,032 ) — (75,032 ) Principal repayment of notes payable - other and CDD bond obligations — (1,214 ) — — (1,214 ) Proceeds from exercise of stock options 426 — — — 426 Intercompany financing — 8,862 (2,686 ) (6,176 ) — Dividends paid — — (5,750 ) 5,750 — Debt issue costs — (75 ) (40 ) — (115 ) Net cash provided by (used in) financing activities 426 123,432 (83,508 ) (426 ) 39,924 Net decrease in cash, cash equivalents and restricted cash — (80,849 ) (3,037 ) — (83,886 ) Cash, cash equivalents and restricted cash balance at beginning of period — 131,522 20,181 — 151,703 Cash, cash equivalents and restricted cash balance at end of period $ — $ 50,673 $ 17,144 $ — $ 67,817 Six Months Ended June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 5,500 $ (120,894 ) $ 81,574 $ (5,500 ) $ (39,320 ) INVESTING ACTIVITIES: Purchase of property and equipment — (1,785 ) (87 ) — (1,872 ) Intercompany Investing (7,854 ) — — 7,854 — Investments in and advances to joint venture arrangements — (2,128 ) (3,679 ) — (5,807 ) Return of capital from unconsolidated joint ventures — — 1,078 — 1,078 Net proceeds from the sale of mortgage servicing rights — — 7,558 — 7,558 Net cash (used in) provided by investing activities (7,854 ) (3,913 ) 4,870 7,854 957 FINANCING ACTIVITIES: Proceeds from bank borrowings - homebuilding operations — 289,400 — — 289,400 Principal repayments of bank borrowings - homebuilding operations — (191,700 ) — — (191,700 ) Net repayments of bank borrowings - financial services operations — — (63,377 ) — (63,377 ) Proceeds from notes payable - other and CDD bond obligations — (2,752 ) — — (2,752 ) Intercompany financing — 15,027 (7,173 ) (7,854 ) — Dividends paid (2,438 ) — (5,500 ) 5,500 (2,438 ) Debt issue costs — — (63 ) — (63 ) Proceeds from exercise of stock options 4,792 — — — 4,792 Net cash provided by (used in) financing activities 2,354 109,975 (76,113 ) (2,354 ) 33,862 Net (decrease) increase in cash, cash equivalents and restricted cash — (14,832 ) 10,331 — (4,501 ) Cash, cash equivalents and restricted cash balance at beginning of period — 20,927 13,514 — 34,441 Cash, cash equivalents and restricted cash balance at end of period $ — $ 6,095 $ 23,845 $ — $ 29,940

Basis of Presentation Basis o27

Basis of Presentation Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 558,098	$ 456,866	$ 995,955	$ 863,846
Gain (Loss) on Hedging Activity	200	(2,000)	3,200	2,600
Geographical [Domain]
Disaggregation of Revenue [Line Items]
Revenue	558,098	456,866	995,955	863,846
Midwest Homebuilding [Member]
Disaggregation of Revenue [Line Items]
Revenue	226,902	168,469	385,522	314,891
Southern Homebuilding [Member]
Disaggregation of Revenue [Line Items]
Revenue	237,582	178,780	427,970	328,145
Mid-Atlantic Homebuilding [Member]
Disaggregation of Revenue [Line Items]
Revenue	81,738	97,749	155,561	194,635
Financial Services [Member]
Disaggregation of Revenue [Line Items]
Revenue	11,876	11,868	26,902	26,175
Construction [Member]
Disaggregation of Revenue [Line Items]
Revenue	545,034	443,093	963,458	830,551
Land [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 1,188	$ 1,905	$ 5,595	$ 7,120

Basis of Presentation Goodwill

Basis of Presentation Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 16,400	$ 0

Inventory and Capitalized Int29

Inventory and Capitalized Interest Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Inventory [Abstract]
Single-family lots, land and land development costs	$ 740,972	$ 687,260
Land held for sale	12,715	6,491
Homes under construction	757,478	579,051
Model homes and furnishings - at cost (less accumulated depreciation: June 30, 2018 - $13,711; December 31, 2017 - $12,715)	80,901	74,622
Community development district	11,789	13,049
Land purchase deposits	33,820	32,556
Consolidated inventory not owned	14,793	21,545
Total Inventory	$ 1,652,468	$ 1,414,574

Inventory and Capitalized Int30

Inventory and Capitalized Interest Inventory Parentheticals (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Parantheticals - Inventory [Abstract]
Model Home Accumulated Depreciation	$ 13,711	$ 12,715

Inventory and Capitalized Int31

Inventory and Capitalized Interest Other Inventory Items - Homes under construction not subject to a sale contract (Details) $ in Thousands	Jun. 30, 2018USD ($)homes	Dec. 31, 2017USD ($)
Other Inventory, Gross [Abstract]
Number of Speculative Homes	1,272	1,134
Speculative Homes Carrying Value	$ 243,000	$ 242,700
Community development district	$ 11,789	$ 13,049

Inventory and Capitalized Int32

Inventory and Capitalized Interest Capitalized Interest (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized Interest, beginning of period	$ 18,264	$ 16,008	$ 17,169	$ 16,012
Interest capitalized to inventory	7,191	5,300	13,150	9,062
Capitalized interest charged to land and housing costs and expenses	(6,203)	(4,843)	(11,067)	(8,609)
Capitalized Interest, end of period	19,252	16,465	19,252	16,465
Interest incurred	$ 12,079	$ 9,134	$ 23,916	$ 18,234

Investment in Joint Venture A33

Investment in Joint Venture Arrangements (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Increase (decrease) in Investments Joint Venture Arrangements	$ (6,700)
Investment in joint venture arrangements	13,753		$ 20,525
Distribution of single-family lots from joint venture arrangements	10,641	$ 9,995
Cash contributions to joint venture arrangements	$ 4,321	$ 5,807
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	97.00%		97.00%
Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	25.00%		25.00%

Fair Value Measurements Notiona

Fair Value Measurements Notional Amount of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Notional Disclosures [Abstract]
Whole loan contracts and related committed IRLCs	$ 5,330	$ 2,182
Uncommitted IRLCs	123,897	50,746
FMBSs related to uncommitted IRLCs	126,000	53,000
Whole loan contracts and related mortgage loans held for sale	8,992	80,956
FMBSs related to mortgage loans held for sale	97,000	91,000
Mortgage loans held for sale covered by FMBSs	$ 97,281	$ 90,781

Fair Value Measurements Assets

Fair Value Measurements Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair Value, Inputs - Quoted Prices in Active Markets for Identical Assets, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	$ 0	$ 0
Fair Value, Significant Other observable Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	108,199	172,040
Fair Value, Significant Unobservable Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	0	0
Mortgage Loans Held for Sale [Member] | Fair Value, Inputs - Quoted Prices in Active Markets for Identical Assets, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	0	0
Mortgage Loans Held for Sale [Member] | Fair Value, Significant Other observable Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	108,000	171,580
Mortgage Loans Held for Sale [Member] | Fair Value, Significant Unobservable Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	0	0
Forward Sales of Mortgage Backed Securities [Member] | Fair Value, Inputs - Quoted Prices in Active Markets for Identical Assets, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	0	0
Forward Sales of Mortgage Backed Securities [Member] | Fair Value, Significant Other observable Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	(783)	177
Forward Sales of Mortgage Backed Securities [Member] | Fair Value, Significant Unobservable Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	0	0
Interest Rate Lock Commitments [Member] | Fair Value, Inputs - Quoted Prices in Active Markets for Identical Assets, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	0	0
Interest Rate Lock Commitments [Member] | Fair Value, Significant Other observable Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	1,104	271
Interest Rate Lock Commitments [Member] | Fair Value, Significant Unobservable Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	0	0
Whole Loan Contracts [Member] | Fair Value, Inputs - Quoted Prices in Active Markets for Identical Assets, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	0	0
Whole Loan Contracts [Member] | Fair Value, Significant Other observable Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	(122)	12
Whole Loan Contracts [Member] | Fair Value, Significant Unobservable Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	0	0
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	108,199	172,040
Fair Value, Measurements, Recurring [Member] | Mortgage Loans Held for Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	108,000	171,580
Fair Value, Measurements, Recurring [Member] | Forward Sales of Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	(783)	177
Fair Value, Measurements, Recurring [Member] | Interest Rate Lock Commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	1,104	271
Fair Value, Measurements, Recurring [Member] | Whole Loan Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	$ (122)	$ 12

Fair Value Measurements (Loss)

Fair Value Measurements (Loss) Gain On Assets and Liabilities Measured On A Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	$ 61	$ 353	$ 1,056	$ 4,924
Mortgage Loans Held for Sale [Member]
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	642	(484)	1,317	4,390
Forward Sales of Mortgage Backed Securities [Member]
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	(658)	1,280	(960)	369
Interest Rate Lock Commitments [Member]
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	138	(748)	843	94
Whole Loan Contracts [Member]
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	$ (61)	$ 305	$ (144)	$ 71

Fair Value Measurements Balance

Fair Value Measurements Balance Sheet Location of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	$ 1,104	$ 460
Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	905	0
Forward Sales of Mortgage Backed Securities [Member] | Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	0	177
Forward Sales of Mortgage Backed Securities [Member] | Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	783	0
Interest Rate Lock Commitments [Member] | Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	1,104	271
Interest Rate Lock Commitments [Member] | Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	0	0
Whole Loan Contracts [Member] | Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	0	12
Whole Loan Contracts [Member] | Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	$ 122	$ 0

Fair Value Measurements Financi

Fair Value Measurements Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
ASSETS:
Cash, cash equivalents and restricted cash	$ 67,817	$ 151,703
Carrying (Reported) Amount, Fair Value Disclosure [Member]
ASSETS:
Cash, cash equivalents and restricted cash	67,817	151,703
Mortgage loans held for sale	108,000	171,580
Split dollar life insurance policies	209	209
Commitments to extend real estate loans (assets)	1,104	271
Whole Loan contracts for committed IRLCs and mortgage loans held for sale - fair value disclosures (assets)	0	12
Forward sales of mortgage-backed securities	0	177
LIABILITIES:
Notes payable - homebuilding operations - Fair Value Disclosure	181,800	0
Notes Payable - Financial Services Fair Value Disclosure	93,163	168,195
Notes payable - other	9,362	10,576
Convertible senior subordinated notes due 2018 (a)	0	86,250
Senior notes due 2021 (a)	300,000	300,000
Senior notes due 2025 (a)	250,000	250,000
Whole Loan contracts for committed IRLCs and mortgage loans held for sale	122	0
Forward sales of mortgage-backed securities	783	0
Off-Balance Sheet Letters of Credit	0	0
Estimate of Fair Value, Fair Value Disclosure [Member]
ASSETS:
Cash, cash equivalents and restricted cash	67,817	151,703
Mortgage loans held for sale	108,000	171,580
Split dollar life insurance policies	209	209
Commitments to extend real estate loans (assets)	1,104	271
Whole Loan contracts for committed IRLCs and mortgage loans held for sale - fair value disclosures (assets)	0	12
Forward sales of mortgage-backed securities	0	177
LIABILITIES:
Notes payable - homebuilding operations - Fair Value Disclosure	181,800	0
Notes Payable - Financial Services Fair Value Disclosure	93,163	168,195
Notes payable - other	8,504	9,437
Convertible senior subordinated notes due 2018 (a)	0	93,581
Senior notes due 2021 (a)	308,250	310,875
Senior notes due 2025 (a)	233,125	252,500
Whole Loan contracts for committed IRLCs and mortgage loans held for sale	122	0
Forward sales of mortgage-backed securities	783	0
Off-Balance Sheet Letters of Credit	$ 955	$ 1,083

Fair Value Measurements Fair 39

Fair Value Measurements Fair Value of Financial Instrument Assumptions (Details) $ in Millions	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Fair Value of Financial Instrument Assumptions [Line Items]
Letters of Credit Potential Commitments, Amount	$ 49.8	$ 49.7
Second Amendment to Credit Facility [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
Maximum borrowing availability, subject to obtaining additional commitments	475
Line of Credit Facility, Maximum Borrowing Capacity	$ 500
Basis Points Spread on Variable Rate - Credit Facility	250
Warehousing Agreement - Second Amendment to Second Amended and Restated [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
M/I Financial Maximum Borrowing Capacity	$ 125
M/I Financial Temporary Increase Maximum Borrowing Capacity	160
Repurchase Agreement - Amendment No. 4 [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
M/I Financial Maximum Borrowing Capacity	35
M/I Financial Temporary Increase Maximum Borrowing Capacity	$ 50

Guarantees and Indemnificatio40

Guarantees and Indemnifications Guarantees (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Guarantees [Abstract]
Total of Loans Covered by Guarantees	$ 60,600	$ 46,800
Total of Guaranteed Loans Inquired About	600	1,200
Total Loans Indemnified to third parties	1,300	1,300
Loan Repurchase Guarantee Liability	$ 600	$ 800

Commitments and Contingencies W

Commitments and Contingencies Warranty Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		36 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Warranty Accrual Rollforward [Abstract]
Warranty reserves, beginning of period	$ 24,301	$ 24,980	$ 26,133	$ 27,732
Warranty expense on homes delivered during the period	3,299	2,783	5,842	5,212
Changes in estimates for pre-existing warranties	557	332	465	1,062
Settlements made during the period	(4,878)	(6,292)	(9,161)	(12,203)
Warranty reserves, end of period	23,279	30,303	23,279	30,303	$ 26,133
Charges related to stucco-related claims	0	$ 8,500	0	$ 8,500	$ 28,400
Estimated Repair Costs for Affected Homes	$ 6,500		$ 6,500

Commitments and Contingencies42

Commitments and Contingencies Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2018USD ($)
Commitments and Contingencies [Abstract]
Letters of credit and completion bonds	$ 198.2
Performance bonds outstanding	140.8
Performance letters of credit outstanding	42.5
Financial letters of credit	7.3
Financial letters of credit representing deposits on land and lot purchase agreements	7.3
Financial Bonds	7.6
Unrecorded conditional purchase obligation	$ 640.8

Commitments and Contingencies L

Commitments and Contingencies Legal Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Other Liabilities Disclosure [Abstract]
Amount Reserved for Legal Expenses	$ 0.4	$ 0.4

Acquisition and Goodwill (Detai

Acquisition and Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Acquisition and Goodwill [Abstract]
Acquisition	$ (100,960)	$ 0
Goodwill	16,400		$ 0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$ (84,600)

Debt Debt (Details)

Debt Debt (Details) $ in Thousands	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Line of Credit Facility [Line Items]
Debt Instrument, Unused Borrowing Capacity, Amount	$ 622,900
Notes payable bank - homebuilding operations	181,800		$ 0
letters of credit outstanding under credit facility	49,600
Maximum borrowing availability subject to limit	269,000
Aggregate Capacity of Secured Letters of Credit under Credit Facility	1,000
Letters of Credit Outstanding Under Letter of Credit Facilities	200		600
Restricted Cash for Secured Letter of Credit Agreements	200		$ 600
Restricted cash collateralizing assumed LOCs		$ 6,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 6,600
Second Amendment to Credit Facility [Member]
Line of Credit Facility [Line Items]
Sub-limit for letters of credit	125,000
Maximum borrowing availability, subject to obtaining additional commitments	475,000
Accordion to Credit Facility	25,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 500,000
Basis Points Spread on Variable Rate - Credit Facility	250
2025 Senior Notes [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 250,000
Debt Instrument, Interest Rate, Stated Percentage	5.625%
2021 Senior Notes [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 300,000
Debt Instrument, Interest Rate, Stated Percentage	6.75%

Debt MIF Warehousing Agreement

Debt MIF Warehousing Agreement (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Maximum Borrowing Availability under all Credit Lines	$ 160,000	$ 200,000
Notes payable bank - financial service operations	$ 93,163	$ 168,195
Warehousing Agreement - First Amendment to Second Amended and Restated [Member]
Debt Instrument [Line Items]
LIBOR basis points	237.5
Warehousing Agreement - Second Amendment to Second Amended and Restated [Member]
Debt Instrument [Line Items]
M/I Financial Maximum Borrowing Capacity	$ 125,000
M/I Financial Temporary Increase Maximum Borrowing Capacity	$ 160,000
LIBOR basis points	200
Debt Instrument, Basis Spread on Variable Rate	2.75%
Repurchase Agreement - Amendment No. 4 [Member]
Debt Instrument [Line Items]
M/I Financial Maximum Borrowing Capacity	$ 35,000
M/I Financial Temporary Increase Maximum Borrowing Capacity	$ 50,000
Minimum [Member] | Repurchase Agreement - Amendment No. 4 [Member]
Debt Instrument [Line Items]
LIBOR basis points	250
Maximum [Member] | Repurchase Agreement - Amendment No. 4 [Member]
Debt Instrument [Line Items]
LIBOR basis points	275

Debt Senior Notes (Details)

Debt Senior Notes (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended					24 Months Ended	48 Months Ended
	Mar. 31, 2018	Jul. 31, 2023	Jul. 31, 2022	Jan. 15, 2021	Jan. 14, 2020	Jan. 14, 2019	Jul. 31, 2025	Jul. 31, 2021	Jun. 30, 2018	Dec. 31, 2017	Mar. 01, 2013
Debt Instrument [Line Items]
Restricted Payments Basket									$ 214,000	$ 176,100
2025 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount									$ 250,000
Debt Instrument, Interest Rate, Stated Percentage									5.625%
Debt Instrument, Redemption Price, Percentage		101.406%	102.813%				100.00%	104.219%
2021 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount									$ 300,000
Debt Instrument, Interest Rate, Stated Percentage									6.75%
Debt Instrument, Redemption Price, Percentage				100.00%	101.688%	103.375%
2018 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Convertible senior subordinated notes											$ 86,250
Debt Instrument, Interest Rate, Stated Percentage											3.00%
Debt Conversion, Converted Instrument, Amount	$ 20,309
Repayments of Convertible Debt	$ 65,941
Debt Conversion, Converted Instrument, Shares Issued	629
Debt Instrument, Convertible, Conversion Price											$ 32.31
Base of restricted payments basket income calculation [Member]
Debt Instrument [Line Items]
Other Restrictions on Payment of Dividends									$ 125,000
Percentage of our aggregate consolidated net income added to base amount of calculation [Member]
Debt Instrument [Line Items]
Percent restrictions on payment of dividends									50.00%
Percentage of our aggregate consolidated net income subtracted from base amount of calculation [Member]
Debt Instrument [Line Items]
Percent restrictions on payment of dividends									100.00%
Percentage of net cash proceeds from sale of qualified equity interests added to base and income/loss amount in calculation [Member]
Debt Instrument [Line Items]
Percent restrictions on payment of dividends									100.00%

Debt Notes Payable Other (Detai

Debt Notes Payable Other (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Notes payable - other	$ 9,362	$ 10,576

Earnings per Share Earnings p49

Earnings per Share Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share Calculation [Line Items]
Net Income, Including Portion Attributable to Noncontrolling Interest	$ 27,911	$ 16,989	$ 45,974	$ 33,872
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Preferred Dividends	0	(1,219)	0	(2,438)
Net income to common shareholders	27,911	15,770	45,974	31,434
Net Income Available to Common Stockholders, Diluted	$ 27,911	$ 16,688	$ 46,383	$ 33,271
Weighted Average Number of Shares Outstanding, Basic	28,571	24,990	28,349	24,864
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Incremental Common Shares Attributable to Stock Options	353	335	409	330
Incremental Common Shares Attributable to Deferred Compensation	177	209	194	192
Diluted Weighted Average Number of Shares Outstanding, Adjusted for Assumed Conversions	29,101	30,619	29,818	30,471
Earnings Per Share, Basic	$ 0.98	$ 0.63	$ 1.62	$ 1.26
Earnings Per Share, Diluted	$ 0.96	$ 0.55	$ 1.56	$ 1.09
Anti-dilutive stock equivalent awards not included in the calculation of diluted loss per share	434	0	326	47
2017 Convertible Senior Notes [Member]
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Interest on Convertible Debt, Net of Tax	$ 0	$ 391	$ 0	$ 782
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Incremental Common Shares Attributable to Conversion of Debt Securities	0	2,416	0	2,416
2018 Convertible Senior Notes [Member]
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Interest on Convertible Debt, Net of Tax	$ 0	$ 527	$ 409	$ 1,055
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Incremental Common Shares Attributable to Conversion of Debt Securities	0	2,669	866	2,669

Earnings per Share Earnings p50

Earnings per Share Earnings per share narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended			12 Months Ended
	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2013	Dec. 31, 2017	Oct. 16, 2017	Apr. 10, 2013	Mar. 01, 2013	Sep. 11, 2012	Mar. 15, 2007
Debt Conversion [Line Items]
Preferred Stock, Shares Authorized	2,000,000				2,000,000			2,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.01				$ 0.01			$ 0.01
Preferred Stock, Dividend Rate, Percentage					9.75%
Preferred Stock, Shares Issued	0				0			2,000					4,000
Depositary shares issued													4,000,000
Preferred shares redeemed									2,000	2,000
Depositary shares redeemed									2,000,000	2,000,000
Payments for Repurchase of Redeemable Preferred Stock							$ 50,400	$ 50,420
Preferred Stock, Redemption Price Per Share				$ 609.375		$ 609.375
Preferred Dividends	$ 0			$ (1,219)	$ 0	$ (2,438)
2017 Convertible Senior Notes [Member]
Debt Conversion [Line Items]
Convertible Subordinated Debt												$ 57,500
Debt Instrument, Interest Rate, Stated Percentage												3.25%
Stock Issued During Period, Shares, Other			2,400,000
Debt Instrument, Convertible, Conversion Price												$ 23.80
2018 Convertible Senior Notes [Member]
Debt Conversion [Line Items]
Convertible Subordinated Debt											$ 86,250
Debt Instrument, Interest Rate, Stated Percentage											3.00%
Debt Instrument, Convertible, Conversion Price											$ 32.31
Debt Conversion, Converted Instrument, Amount		$ 20,309
Debt Conversion, Converted Instrument, Shares Issued		629,000
Repayments of Convertible Debt		$ 65,941

Income Taxes Income Tax (Narrat

Income Taxes Income Tax (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Valuation Allowance [Line Items]
Provision for income taxes	$ 5,620	$ 8,196	$ 11,430	$ 17,648
Effective Income Tax Rate Reconciliation, Percent	16.80%	32.50%	19.90%	34.30%
Corporate Federal Tax Rate				35.00%
Effective Income Tax Rate Reconciliation, Tax Credit, Amount	$ 3,000

Income Taxes Net Operating Loss

Income Taxes Net Operating Loss Carryforwards (Details) - State and Local Jurisdiction [Member] $ in Millions	Jun. 30, 2018USD ($)
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 4
Expiring between 2028 and 2032 [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	2.8
Expiring between 2022 and 2027 [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 1.2

Business Segments Business Se53

Business Segments Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Revenue	$ 558,098	$ 456,866	$ 995,955	$ 863,846
Operating Income	38,505	28,909	69,646	60,565
Interest	4,888	3,834	10,766	9,172
Equity in loss (income) from joint venture arrangements	86	(110)	(224)	(127)
Acquisition and integration costs	0	0	1,700	0
Income before income taxes	33,531	25,185	57,404	51,520
Purchase Accounting Adjustments	2,961		3,857
Standard Product Warranty Accrual, Period Increase (Decrease)	0	8,500	0	8,500
Midwest Homebuilding [Member]
Segment Reporting Information [Line Items]
Operating Income	18,981	17,984	31,198	32,843
Interest	1,812	863	3,878	2,240
Southern Homebuilding [Member]
Segment Reporting Information [Line Items]
Operating Income	19,370	4,709	34,220	13,421
Interest	1,908	1,791	4,195	4,168
Mid-Atlantic Homebuilding [Member]
Segment Reporting Information [Line Items]
Operating Income	5,106	9,588	7,698	16,841
Interest	473	515	1,229	1,431
Financial Services [Member]
Segment Reporting Information [Line Items]
Operating Income	5,938	6,860	15,478	16,090
Interest	695	665	1,464	1,333
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Selling, general and administrative expenses	$ (10,890)	$ (10,232)	$ (18,948)	$ (18,630)

Business Segments Business Se54

Business Segments Business Segments - Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	$ 33,820	$ 32,556
Inventory	1,618,648	1,382,018
Investment in joint venture arrangements	13,753	20,525
Other assets	304,319	429,672
Total assets	1,970,540	1,864,771
Midwest Homebuilding [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	5,933	4,933
Inventory	657,154	500,671
Investment in joint venture arrangements	342	4,410
Other assets	26,288	13,573
Total assets	689,717	523,587
Southern Homebuilding [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	20,724	20,719
Inventory	697,404	636,019
Investment in joint venture arrangements	5,088	9,677
Other assets	36,977	38,784
Total assets	760,193	705,199
Mid-Atlantic Homebuilding [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	7,163	6,904
Inventory	264,090	245,328
Investment in joint venture arrangements	8,323	6,438
Other assets	16,440	13,311
Total assets	296,016	271,981
Corporate, Financial Services and Unallocated [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	0	0
Inventory	0	0
Investment in joint venture arrangements	0	0
Other assets	224,614	364,004
Total assets	$ 224,614	$ 364,004

Supplemental Guarantor Inform55

Supplemental Guarantor Information Supplemental Guarantor Information - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue	$ 558,098	$ 456,866	$ 995,955	$ 863,846
Land and housing	449,336	367,598	798,038	687,879
General and administrative	34,666	30,112	62,617	57,872
Selling	35,591	30,247	65,654	57,530
Acquisition and integration costs	0	0	1,700	0
Equity in loss (income) from joint venture arrangements	86	(110)	(224)	(127)
Interest	4,888	3,834	10,766	9,172
Total costs and expenses	524,567	431,681	938,551	812,326
Income before income taxes	33,531	25,185	57,404	51,520
Provision for income taxes	5,620	8,196	11,430	17,648
Equity In subsidiaries	0	0	0	0
Net income	27,911	16,989	45,974	33,872
Preferred Dividends	0	1,219	0	2,438
Net income to common shareholders	27,911	15,770	45,974	31,434
Consolidation, Eliminations [Member]
Revenue	0	0	0	0
Land and housing	0	0	0	0
General and administrative	0	0	0	0
Selling	0	0	0	0
Acquisition and integration costs			0
Equity in loss (income) from joint venture arrangements	0	0	0	0
Interest	0	0	0	0
Total costs and expenses	0	0	0	0
Income before income taxes	0	0	0	0
Provision for income taxes	0	0	0	0
Equity In subsidiaries	(27,911)	(16,989)	(45,974)	(33,872)
Net income	(27,911)	(16,989)	(45,974)	(33,872)
Preferred Dividends		0		0
Net income to common shareholders		(16,989)		(33,872)
Parent Company [Member]
Revenue	0	0	0	0
Land and housing	0	0	0	0
General and administrative	0	0	0	0
Selling	0	0	0	0
Acquisition and integration costs			0
Equity in loss (income) from joint venture arrangements	0	0	0	0
Interest	0	0	0	0
Total costs and expenses	0	0	0	0
Income before income taxes	0	0	0	0
Provision for income taxes	0	0	0	0
Equity In subsidiaries	27,911	16,989	45,974	33,872
Net income	27,911	16,989	45,974	33,872
Preferred Dividends		1,219		2,438
Net income to common shareholders		15,770		31,434
Guarantor Subsidiaries [Member]
Revenue	546,222	444,998	969,053	837,671
Land and housing	449,336	367,598	798,038	687,879
General and administrative	28,570	24,915	50,741	47,375
Selling	35,591	30,247	65,654	57,530
Acquisition and integration costs			1,700
Equity in loss (income) from joint venture arrangements	0	0	0	0
Interest	4,193	3,169	9,301	7,839
Total costs and expenses	517,690	425,929	925,434	800,623
Income before income taxes	28,532	19,069	43,619	37,048
Provision for income taxes	4,552	6,246	8,458	12,735
Equity In subsidiaries	0	0	0	0
Net income	23,980	12,823	35,161	24,313
Preferred Dividends		0		0
Net income to common shareholders		12,823		24,313
Non-Guarantor Subsidiaries [Member]
Revenue	11,876	11,868	26,902	26,175
Land and housing	0	0	0	0
General and administrative	6,096	5,197	11,876	10,497
Selling	0	0	0	0
Acquisition and integration costs			0
Equity in loss (income) from joint venture arrangements	86	(110)	(224)	(127)
Interest	695	665	1,465	1,333
Total costs and expenses	6,877	5,752	13,117	11,703
Income before income taxes	4,999	6,116	13,785	14,472
Provision for income taxes	1,068	1,950	2,972	4,913
Equity In subsidiaries	0	0	0	0
Net income	$ 3,931	4,166	$ 10,813	9,559
Preferred Dividends		0		0
Net income to common shareholders		$ 4,166		$ 9,559

Supplemental Guarantor Inform56

Supplemental Guarantor Information Supplemental Guarantor Information - Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
ASSETS:
Cash, cash equivalents and restricted cash	$ 67,817	$ 151,703
Mortgage loans held for sale	108,000	171,580
Inventory	1,652,468	1,414,574
Property and equipment - net	28,885	26,816
Investment in joint venture arrangements	13,753	20,525
Deferred income tax asset	17,528	18,438
Investment in subsidiaries	0	0
Intercompany	0	0
Goodwill	16,400	0
Other assets	65,689	61,135
TOTAL ASSETS	1,970,540	1,864,771
LIABILITIES:
Accounts payable	141,491	117,233
Customer deposits	41,510	26,378
Intercompany liabilities	0	0
Other liabilities	117,022	131,534
Community development district obligations	11,789	13,049
Obligation for consolidated inventory not owned	14,794	21,545
Notes payable bank - homebuilding operations	181,800	0
Notes payable bank - financial service operations	93,163	168,195
Notes payable - other	9,362	10,576
Convertible senior subordinated notes due 2018 - net	0	86,132
Senior notes due 2021 - net	297,332	296,780
Senior notes due 2025 - net	246,311	246,051
TOTAL LIABILITIES	1,154,574	1,117,473
TOTAL SHAREHOLDERS' EQUITY	815,966	747,298
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,970,540	1,864,771
Consolidation, Eliminations [Member]
ASSETS:
Cash, cash equivalents and restricted cash	0	0
Mortgage loans held for sale	0	0
Inventory	0	0
Property and equipment - net	0	0
Investment in joint venture arrangements	0	0
Deferred income tax asset	0	0
Investment in subsidiaries	(762,731)	(722,508)
Intercompany	(594,094)	(650,599)
Goodwill	0
Other assets	0	0
TOTAL ASSETS	(1,356,825)	(1,373,107)
LIABILITIES:
Accounts payable	0	0
Customer deposits	0	0
Intercompany liabilities	(594,094)	(650,599)
Other liabilities	0	0
Community development district obligations	0	0
Obligation for consolidated inventory not owned	0	0
Notes payable bank - homebuilding operations	0
Notes payable bank - financial service operations	0	0
Notes payable - other	0	0
Convertible senior subordinated notes due 2018 - net		0
Senior notes due 2021 - net	0	0
Senior notes due 2025 - net	0	0
TOTAL LIABILITIES	(594,094)	(650,599)
TOTAL SHAREHOLDERS' EQUITY	(762,731)	(722,508)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	(1,356,825)	(1,373,107)
Parent Company [Member]
ASSETS:
Cash, cash equivalents and restricted cash	0	0
Mortgage loans held for sale	0	0
Inventory	0	0
Property and equipment - net	0	0
Investment in joint venture arrangements	0	0
Deferred income tax asset	0	0
Investment in subsidiaries	762,731	722,508
Intercompany	594,094	650,599
Goodwill	0
Other assets	2,784	3,154
TOTAL ASSETS	1,359,609	1,376,261
LIABILITIES:
Accounts payable	0	0
Customer deposits	0	0
Intercompany liabilities	0	0
Other liabilities	0	0
Community development district obligations	0	0
Obligation for consolidated inventory not owned	0	0
Notes payable bank - homebuilding operations	0
Notes payable bank - financial service operations	0	0
Notes payable - other	0	0
Convertible senior subordinated notes due 2018 - net		86,132
Senior notes due 2021 - net	297,332	296,780
Senior notes due 2025 - net	246,311	246,051
TOTAL LIABILITIES	543,643	628,963
TOTAL SHAREHOLDERS' EQUITY	815,966	747,298
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,359,609	1,376,261
Guarantor Subsidiaries [Member]
ASSETS:
Cash, cash equivalents and restricted cash	50,673	131,522
Mortgage loans held for sale	0	0
Inventory	1,652,468	1,414,574
Property and equipment - net	27,879	25,815
Investment in joint venture arrangements	11,541	13,930
Deferred income tax asset	17,528	18,438
Investment in subsidiaries	0	0
Intercompany	0	0
Goodwill	16,400
Other assets	53,935	48,430
TOTAL ASSETS	1,830,424	1,652,709
LIABILITIES:
Accounts payable	140,663	116,773
Customer deposits	41,510	26,378
Intercompany liabilities	590,943	645,048
Other liabilities	111,585	126,522
Community development district obligations	11,789	13,049
Obligation for consolidated inventory not owned	14,794	21,545
Notes payable bank - homebuilding operations	181,800
Notes payable bank - financial service operations	0	0
Notes payable - other	9,362	10,576
Convertible senior subordinated notes due 2018 - net		0
Senior notes due 2021 - net	0	0
Senior notes due 2025 - net	0	0
TOTAL LIABILITIES	1,102,446	959,891
TOTAL SHAREHOLDERS' EQUITY	727,978	692,818
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,830,424	1,652,709
Non-Guarantor Subsidiaries [Member]
ASSETS:
Cash, cash equivalents and restricted cash	17,144	20,181
Mortgage loans held for sale	108,000	171,580
Inventory	0	0
Property and equipment - net	1,006	1,001
Investment in joint venture arrangements	2,212	6,595
Deferred income tax asset	0	0
Investment in subsidiaries	0	0
Intercompany	0	0
Goodwill	0
Other assets	8,970	9,551
TOTAL ASSETS	137,332	208,908
LIABILITIES:
Accounts payable	828	460
Customer deposits	0	0
Intercompany liabilities	3,151	5,551
Other liabilities	5,437	5,012
Community development district obligations	0	0
Obligation for consolidated inventory not owned	0	0
Notes payable bank - homebuilding operations	0
Notes payable bank - financial service operations	93,163	168,195
Notes payable - other	0	0
Convertible senior subordinated notes due 2018 - net		0
Senior notes due 2021 - net	0	0
Senior notes due 2025 - net	0	0
TOTAL LIABILITIES	102,579	179,218
TOTAL SHAREHOLDERS' EQUITY	34,753	29,690
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 137,332	$ 208,908

Supplemental Guarantor Inform57

Supplemental Guarantor Information Supplemental Guarantor Information - Statements of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	$ (19,701)	$ (39,320)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	(4,615)	(1,872)
Acquisition	(100,960)	0
Intercompany Investing	0	0
Cash contributions to joint venture arrangements	(4,321)	(5,807)
Return of capital from Investment in joint venture arrangements	676	1,078
Net proceeds from sale of mortgage servicing rights	5,111	7,558
Net cash provided by (used in) investing activities	(104,109)	957
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments of Senior Debt	(65,941)
Proceeds from bank borrowings - homebuilding operations	353,900	289,400
Principal repayments of bank borrowings - homebuilding operations	(172,100)	(191,700)
Net repayment of bank borrowings - financial services operations	(75,032)	(63,377)
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	(1,214)	(2,752)
Proceeds from exercise of stock options	426	4,792
Intercompany Financing	0	0
Dividends paid	0	(2,438)
Debt issue costs	(115)	(63)
Net Cash Provided by (Used in) Financing Activities	39,924	33,862
Net increase (decrease) in cash and cash equivalents	(83,886)	(4,501)
Cash and cash equivalents balance at beginning of period	151,703	34,441
Cash and cash equivalents balance at end of period	67,817	29,940
Consolidation, Eliminations [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	(5,750)	(5,500)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	0	0
Acquisition	0
Intercompany Investing	6,176	7,854
Cash contributions to joint venture arrangements	0	0
Return of capital from Investment in joint venture arrangements	0	0
Net proceeds from sale of mortgage servicing rights	0	0
Net cash provided by (used in) investing activities	6,176	7,854
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments of Senior Debt	0
Proceeds from bank borrowings - homebuilding operations	0	0
Principal repayments of bank borrowings - homebuilding operations	0	0
Net repayment of bank borrowings - financial services operations	0	0
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	0	0
Proceeds from exercise of stock options	0	0
Intercompany Financing	(6,176)	(7,854)
Dividends paid	5,750	5,500
Debt issue costs	0	0
Net Cash Provided by (Used in) Financing Activities	(426)	(2,354)
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents balance at beginning of period	0	0
Cash and cash equivalents balance at end of period	0	0
Parent Company [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	5,750	5,500
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	0	0
Acquisition	0
Intercompany Investing	(6,176)	(7,854)
Cash contributions to joint venture arrangements	0	0
Return of capital from Investment in joint venture arrangements	0	0
Net proceeds from sale of mortgage servicing rights	0	0
Net cash provided by (used in) investing activities	(6,176)	(7,854)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments of Senior Debt	0
Proceeds from bank borrowings - homebuilding operations	0	0
Principal repayments of bank borrowings - homebuilding operations	0	0
Net repayment of bank borrowings - financial services operations	0	0
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	0	0
Proceeds from exercise of stock options	426	4,792
Intercompany Financing	0	0
Dividends paid	0	(2,438)
Debt issue costs	0	0
Net Cash Provided by (Used in) Financing Activities	426	2,354
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents balance at beginning of period	0	0
Cash and cash equivalents balance at end of period	0	0
Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	(95,387)	(120,894)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	(4,449)	(1,785)
Acquisition	(100,960)
Intercompany Investing	0	0
Cash contributions to joint venture arrangements	(3,485)	(2,128)
Return of capital from Investment in joint venture arrangements	0	0
Net proceeds from sale of mortgage servicing rights	0
Net cash provided by (used in) investing activities	(108,894)	(3,913)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments of Senior Debt	(65,941)
Proceeds from bank borrowings - homebuilding operations	353,900	289,400
Principal repayments of bank borrowings - homebuilding operations	(172,100)	(191,700)
Net repayment of bank borrowings - financial services operations	0	0
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	(1,214)	(2,752)
Proceeds from exercise of stock options	0	0
Intercompany Financing	8,862	15,027
Dividends paid	0	0
Debt issue costs	(75)	0
Net Cash Provided by (Used in) Financing Activities	123,432	109,975
Net increase (decrease) in cash and cash equivalents	(80,849)	(14,832)
Cash and cash equivalents balance at beginning of period	131,522	20,927
Cash and cash equivalents balance at end of period	50,673	6,095
Non-Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	75,686	81,574
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	(166)	(87)
Acquisition	0
Intercompany Investing	0	0
Cash contributions to joint venture arrangements	(836)	(3,679)
Return of capital from Investment in joint venture arrangements	676	1,078
Net proceeds from sale of mortgage servicing rights	5,111	7,558
Net cash provided by (used in) investing activities	4,785	4,870
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments of Senior Debt	0
Proceeds from bank borrowings - homebuilding operations	0	0
Principal repayments of bank borrowings - homebuilding operations	0	0
Net repayment of bank borrowings - financial services operations	(75,032)	(63,377)
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	0	0
Proceeds from exercise of stock options	0	0
Intercompany Financing	(2,686)	(7,173)
Dividends paid	(5,750)	(5,500)
Debt issue costs	(40)	(63)
Net Cash Provided by (Used in) Financing Activities	(83,508)	(76,113)
Net increase (decrease) in cash and cash equivalents	(3,037)	10,331
Cash and cash equivalents balance at beginning of period	20,181	13,514
Cash and cash equivalents balance at end of period	$ 17,144	$ 23,845