NVR (NVR) 10-Q 30 Oct 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Oct. 28, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'NVR	'
Entity Registrant Name	'NVR INC	'
Entity Central Index Key	'0000906163	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	4,096,322

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$466,293	$866,253
Mortgage loans held for sale, net	198,597	'
Inventory:	'	'
Land under development	55,668	'
Assets related to consolidated variable interest entity	6,232	7,268
Contract land deposits, net	283,579	236,885
Total assets	2,413,076	2,486,148
LIABILITIES AND SHAREHOLDERS' EQUITY	'	'
Non-recourse debt related to consolidated variable interest entity	661	3,365
Total liabilities	1,261,682	1,224,796
Commitments and contingencies	'	'
Shareholders' equity:	'	'
Common stock, $0.01 par value; 60,000,000 shares authorized; 20,555,330 shares issued as of both September 30, 2014 and December 31, 2013	206	206
Additional paid-in-capital	1,299,533	1,212,050
Deferred compensation trust - 108,614 and 109,256 shares of NVR, Inc. common stock as of both September 30, 2014 and December 31, 2013 respectively	-17,333	-17,741
Deferred compensation liability	17,333	17,741
Retained earnings	4,787,736	4,605,557
Less treasury stock at cost - 16,388,669 and 16,121,605 shares at September 30, 2014 and December 31, 2013, respectively	-4,936,081	-4,556,461
Total shareholders' equity	1,151,394	1,261,352
Total liabilities and shareholders' equity	2,413,076	2,486,148
Homebuilding [Member]	'	'
ASSETS	'	'
Cash and cash equivalents	455,387	844,274
Receivables	11,465	9,529
Inventory:	'	'
Lots and housing units, covered under sales agreements with customers	837,626	568,831
Unsold lots and housing units	108,879	117,467
Land under development	55,668	41,328
Building materials and other	11,560	10,939
Total Inventory	1,013,733	738,565
Assets related to consolidated variable interest entity	6,232	7,268
Contract land deposits, net	283,579	236,885
Property, plant and equipment, net	46,365	32,599
Reorganization value in excess of amounts allocable to identifiable assets, net	41,580	41,580
Goodwill and finite-lived intangible assets, net	5,710	6,747
Other assets	316,189	307,933
Total assets	2,180,240	2,225,380
LIABILITIES AND SHAREHOLDERS' EQUITY	'	'
Accounts payable	227,936	181,687
Accrued expenses and other liabilities	289,696	316,227
Liabilities related to consolidated variable interest entity	2,320	1,646
Non-recourse debt related to consolidated variable interest entity	661	3,365
Customer deposits	119,423	101,022
Senior notes	599,143	599,075
Total liabilities	1,239,179	1,203,022
Mortgage Banking [Member]	'	'
ASSETS	'	'
Cash and cash equivalents	8,308	21,311
Mortgage loans held for sale, net	198,597	210,641
Inventory:	'	'
Property, plant and equipment, net	6,459	4,699
Reorganization value in excess of amounts allocable to identifiable assets, net	7,347	7,347
Other assets	12,125	16,770
Total assets	232,836	260,768
LIABILITIES AND SHAREHOLDERS' EQUITY	'	'
Accounts payable and other liabilities	22,503	21,774
Total liabilities	$22,503	$21,774

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	20,555,330	20,555,330
Deferred compensation trust, shares	108,614	109,256
Treasury stock, shares	16,388,669	16,121,605

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Interest expense	($5,775)	($5,682)	($17,292)	($16,622)
Income before taxes	143,791	131,590	302,322	266,876
Income tax expense	-53,639	-48,655	-120,143	-98,210
Net income	90,152	82,935	182,179	168,666
Basic earnings per share	$21.49	$18.08	$42.01	$35.01
Diluted earnings per share	$20.70	$17.67	$40.59	$34.13
Basic weighted average shares outstanding	4,196	4,588	4,336	4,817
Diluted weighted average shares outstanding	4,354	4,695	4,489	4,942
Homebuilding [Member]	'	'	'	'
Revenues	1,185,160	1,167,595	3,068,427	2,910,673
Other income	905	1,030	2,354	3,154
Cost of sales	-960,055	-964,416	-2,497,985	-2,422,789
Selling, general and administrative	-83,881	-78,897	-268,096	-239,430
Operating income	142,129	125,312	304,700	251,608
Interest expense	-5,618	-5,525	-16,895	-16,214
Income before taxes	136,511	119,787	287,805	235,394
Mortgage Banking [Member]	'	'	'	'
Mortgage banking fees	18,006	21,372	48,103	58,442
Interest income	1,373	1,396	3,382	3,398
Other income	240	218	493	509
General and administrative	-12,182	-11,026	-37,064	-30,459
Interest expense	-157	-157	-397	-408
Income before taxes	$7,280	$11,803	$14,517	$31,482

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:	'	'
Net income	$182,179	$168,666
Adjustments to reconcile net income to net cash (used in) provided by operating activities:	'	'
Depreciation and amortization	12,583	9,375
Excess income tax benefit from equity-based compensation	-6,786	-23,811
Equity-based compensation expense	44,874	30,385
Contract land deposit recoveries, net	-4,108	-4,590
Gain on sale of loans	-32,621	-43,951
Mortgage loans closed	-1,714,682	-1,673,257
Mortgage loans sold and principal payments on mortgage loans held for sale	1,761,410	1,753,024
Distribution of earnings from unconsolidated joint ventures	4,790	4,323
Net change in assets and liabilities:	'	'
Increase in inventory	-272,457	-231,676
Increase in contract land deposits	-42,586	-22,399
Increase in receivables	-1,755	-3,909
Increase in accounts payable and accrued expenses	22,224	114,395
Increase in customer deposits	18,401	22,540
Other, net	-13,327	-10,950
Net cash (used in) provided by operating activities	-41,861	88,165
Cash flows from investing activities:	'	'
Investments in and advances to unconsolidated joint ventures	'	-11,000
Distribution of capital from unconsolidated joint ventures	8,710	6,135
Additions to property, plant and equipment	-27,324	-14,069
Proceeds from sale of property, plant and equipment	626	381
Net cash used in investing activities	-17,988	-18,553
Cash flows from financing activities:	'	'
Purchases of treasury stock	-409,436	-435,809
Repayments under non-recourse debt related to consolidated variable interest entity and note payable	-2,819	-4,488
Distributions to partner in consolidated variable interest entity	-281	'
Excess income tax benefit from equity-based compensation	6,786	23,811
Proceeds from the exercise of stock options	65,639	7,564
Net cash used in financing activities	-340,111	-408,922
Net decrease in cash and cash equivalents	-399,960	-339,310
Cash and cash equivalents, beginning of the period	866,253	1,153,507
Cash and cash equivalents, end of the period	466,293	814,197
Supplemental disclosures of cash flow information:	'	'
Interest paid during the period, net of interest capitalized	24,252	24,673
Income taxes paid during the period, net of refunds	$121,772	$55,209

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	1. Basis of Presentation
	The accompanying unaudited, condensed consolidated financial statements include the accounts of NVR, Inc. and its subsidiaries (collectively, “NVR” or the “Company”) and certain other entities in which the Company is deemed to be the primary beneficiary (see Notes 2 and 3 to the accompanying condensed consolidated financial statements). Intercompany accounts and transactions have been eliminated in consolidation. The statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. Because the accompanying condensed consolidated financial statements do not include all of the information and footnotes required by GAAP, they should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. In the opinion of management, all adjustments (consisting only of normal recurring accruals except as otherwise noted herein) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Certain prior year amounts in the condensed consolidated financial statements have been reclassified to conform to the 2014 presentation.
	For the three and nine months ended September 30, 2014 and 2013, comprehensive income equaled net income; therefore, a separate statement of comprehensive income is not included in the accompanying condensed consolidated financial statements.

Variable_Interest_Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Variable Interest Entities	'
	2. Variable Interest Entities
	Fixed Price Purchase Agreements
	NVR generally does not engage in the land development business. Instead, the Company typically acquires finished building lots at market prices from various development entities under fixed price purchase agreements. The purchase agreements require deposits that may be forfeited if NVR fails to perform under the agreement. The deposits required under the purchase agreements are in the form of cash or letters of credit in varying amounts, and typically range up to 10% of the aggregate purchase price of the finished lots.
	NVR believes this lot acquisition strategy reduces the financial requirements and risks associated with direct land ownership and land development. NVR may, at its option, choose for any reason and at any time not to perform under these purchase agreements by delivering notice of its intent not to acquire the finished lots under contract. NVR’s sole legal obligation and economic loss for failure to perform under these purchase agreements is limited to the amount of the deposit pursuant to the liquidated damage provisions contained within the purchase agreements. In other words, if NVR does not perform under a purchase agreement, NVR loses only its deposit. None of the creditors of any of the development entities with which NVR enters fixed price purchase agreements have recourse to the general credit of NVR. NVR generally does not have any specific performance obligations to purchase a certain number or any of the lots, nor does NVR guarantee completion of the development by the developer or guarantee any of the developers’ financial or other liabilities.
	NVR is not involved in the design or creation of any of the development entities from which the Company purchases lots under fixed price purchase agreements. The developer’s equity holders have the power to direct 100% of the operating activities of the development entity. NVR has no voting rights in any of the development entities. The sole purpose of the development entity’s activities is to generate positive cash flow returns to its equity holders. Further, NVR does not share in any of the profit or loss generated by the project’s development. The profits and losses are passed directly to the developer’s equity holders.
	The deposit placed by NVR pursuant to the fixed price purchase agreement is deemed to be a variable interest in the respective development entities. Those development entities are deemed to be variable interest entities (“VIEs”). Therefore, the development entities with which NVR enters fixed price purchase agreements, including the joint venture limited liability corporations, as discussed below, are evaluated for possible consolidation by NVR. An enterprise must consolidate a VIE when that enterprise has a controlling financial interest in the VIE. An enterprise is deemed to have a controlling financial interest if it has i) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance, and ii) the obligation to absorb losses of the VIE that could be significant to the VIE or the rights to receive benefits from the VIE that could be significant to the VIE.
	NVR believes the activities that most significantly impact a development entity’s economic performance are the operating activities of the entity. Unless and until a development entity completes finished building lots through the development process, with respect to which the development entity’s equity investors bear the full risk, the entity does not earn any revenues. The operating development activities are managed solely by the development entity’s equity investors.
	The development entities with which NVR contracts to buy finished lots typically select the respective projects, obtain the necessary zoning approvals, obtain the financing required with no support or guarantees from NVR, select who will purchase the finished lots and at what price, and manage the completion of the infrastructure improvements, all for the purpose of generating a cash flow return to the development entity’s equity holders and all independent of NVR. The Company possesses no more than limited protective legal rights through the purchase agreement in the specific finished lots that it is purchasing, and NVR possesses no participative rights in the development entities. Accordingly, NVR does not have the power to direct the activities of a developer that most significantly impact the developer’s economic performance. For this reason, NVR has concluded that it is not the primary beneficiary of the development entities with which the Company enters fixed price purchase agreements, and therefore, NVR does not consolidate any of these VIEs.
	As of September 30, 2014, NVR controlled approximately 62,500 lots with deposits in cash and letters of credit totaling approximately $335,100 and $1,700, respectively. As noted above, NVR’s sole legal obligation and economic loss for failure to perform under these purchase agreements is limited to the amount of the deposit pursuant to the liquidated damage provisions contained within the purchase agreements and in very limited circumstances, specific performance obligations. In addition, NVR has certain properties under contract with land owners that are expected to yield approximately 6,400 lots, which are not included in the number of total lots controlled. Some of these properties may require rezoning or other approvals to achieve the expected yield. These properties are controlled with deposits and letters of credit totaling approximately $2,800 and $4,000, respectively as of September 30, 2014, of which approximately $5,500 is refundable if NVR does not perform under the contract. NVR generally expects to assign the raw land contracts to a land developer and simultaneously enter into a lot purchase agreement with the assignee if the project is determined to be feasible. NVR’s total risk of loss related to contract land deposits as of September 30, 2014 and December 31, 2013, was as follows:
			September 30, 2014			December 31, 2013
	Contract land deposits		$	337,954		$	296,646
	Loss reserve on contract land deposits			(54,375	)		(59,761	)
	Contract land deposits, net			283,579			236,885
	Contingent obligations in the form of letters of credit			5,719			2,459
	Contingent specific performance obligations (1)			1,505			1,707
	Total risk of loss		$	290,803		$	241,051
		-1	At September 30, 2014 and December 31, 2013, the Company was committed to purchase 10 and 13 finished lots, respectively, under specific performance obligations.

Joint_Ventures

Joint Ventures	9 Months Ended
	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Joint Ventures	'
	3. Joint Ventures
	On a limited basis, NVR also obtains finished lots using joint venture limited liability corporations (“JVs”). All JVs are typically structured such that NVR is a non-controlling member and is at risk only for the amount the Company has invested, in addition to any deposits placed under fixed price purchase agreements with the JV. NVR is not a borrower, guarantor or obligor on any debt of the JVs, as applicable. The Company enters into a standard fixed price purchase agreement to purchase lots from these JVs, and as a result has a variable interest in these JVs.
	At September 30, 2014, the Company had an aggregate investment totaling approximately $87,100 in four JVs that are expected to produce approximately 8,800 finished lots, of which approximately 3,300 were not under contract with NVR. The Company has determined that it is not the primary beneficiary of three of the JVs because NVR and the other JV partner either share power or the other JV partner has the controlling financial interest. The aggregate investment in these three JVs was approximately $83,800 and is reported in the “Other assets” line item on the accompanying condensed consolidated balance sheets. For the remaining JV, NVR has concluded that it is the primary beneficiary because the Company has the controlling financial interest in the JV. Accordingly, NVR consolidates this JV. The condensed balance sheets at September 30, 2014 and December 31, 2013 of the consolidated JV were as follows:
		September 30, 2014		December 31, 2013
	Cash	$	2,598	$	668
	Restricted cash		169		248
	Other assets		366		542
	Land under development		3,099		5,810
	Total assets	$	6,232	$	7,268
	Debt	$	661	$	3,365
	Accrued expenses		1,374		862
	Equity		4,197		3,041
	Total liabilities and equity	$	6,232	$	7,268

Land_Under_Development

Land Under Development	9 Months Ended
	Sep. 30, 2014
Text Block [Abstract]	'
Land Under Development	'
	4. Land Under Development
	On a limited basis, NVR directly acquires raw parcels of land already zoned for its intended use to develop into finished lots. Land under development includes the land acquisition costs, direct improvement costs, capitalized interest, where applicable, and real estate taxes. During the second quarter of 2014, the Company acquired a raw land parcel for approximately $12,000 which is expected to produce approximately 440 lots. In August, the Company sold this raw land parcel to a third party developer at NVR’s carrying value, and simultaneously entered into a lot purchase agreement to purchase finished lots from the developer. As of September 30, 2014, NVR directly owned five separate raw parcels of land with a carrying value of $55,668 that when developed will yield approximately 660 finished lots primarily for use in its homebuilding operations. Of the total finished lots, 126 lots are under contract to be sold to an unrelated party under lot purchase agreements. None of the raw parcels had any indicators of impairment as of September 30, 2014. Based on current market conditions, NVR may on a limited basis continue to directly acquire additional raw parcels to develop into finished lots.

Capitalized_Interest

Capitalized Interest	9 Months Ended
	Sep. 30, 2014
Text Block [Abstract]	'
Capitalized Interest	'
	5. Capitalized Interest
	The Company capitalizes interest costs to land under development during the active development of finished lots. In addition, the Company capitalizes interest costs to its joint venture investments while the investments are considered qualified assets pursuant to ASC 835-20, Interest. Capitalized interest is transferred to sold or unsold inventory as the development of finished lots is completed, then charged to cost of sales upon the Company’s settlement of homes and the respective lots. Interest incurred in excess of the interest capitalizable based on the level of qualified assets is expensed in the period incurred. NVR’s interest costs incurred, capitalized, expensed and charged to cost of sales during the three and nine months ended September 30, 2014 and 2013 was as follows:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Interest capitalized, beginning of period	$	3,810		$	2,454		$	3,294		$	893
	Interest incurred		6,293			6,287			18,716			18,801
	Interest charged to interest expense		(5,775	)		(5,682	)		(17,292	)		(16,622	)
	Interest charged to cost of sales		(301	)		(38	)		(691	)		(51	)
	Interest capitalized, end of period	$	4,027		$	3,021		$	4,027		$	3,021

EquityBased_Compensation_Expen

Equity-Based Compensation Expense	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Equity-Based Compensation Expense	'
	6. Equity-Based Compensation Expense
	The Company’s shareholders approved the NVR, Inc. 2014 Equity Incentive Plan (the “2014 Plan”) at the Company’s Annual Meeting of Shareholders held on May 7, 2014. The 2014 Plan authorizes the Company to issue non-qualified stock options (“Options”) to key management employees, including executive officers and Board members, to acquire up to an aggregate 950 shares of the Company’s common stock.
	During the nine months ended September 30, 2014, the Company issued 628 Options under the 2014 Plan. The Options were granted at an exercise price equal to the closing price of the Company’s common stock on the day prior to the date of grant. Each of the Options granted will vest over four years in 25% increments on December 31, 2016, 2017, 2018 and 2019. The vesting for 334 of the Options granted is contingent both upon continued employment or continued service as a director and the Company’s return on capital performance during 2014 through 2016. The vesting for the other 294 Options granted is contingent solely upon continued employment or continued service as a director. The Options expire ten years from the date of grant.
	The Company also issued 47 Options under the NVR, Inc. 2010 Equity Incentive Plan (the “2010 Plan”) during the nine months ended September 30, 2014. The Options granted will vest in 25% increments on December 31, 2016, 2017, 2018 and 2019, based solely on continued employment. The Options expire ten years from the date of grant. The Company also issued 16 restricted share units (“RSUs”) from the 2010 Plan during the nine months ended September 30, 2014. The RSUs vest in 33% increments on December 31, 2016, 2017 and 2018, based solely on continued employment. The weighted average fair value per share of the RSUs granted was $1,153.41.
	To estimate the grant-date fair value of its Options, the Company uses the Black-Scholes option-pricing model (the “Pricing Model”). The Pricing Model estimates the per share fair value of an option on its date of grant based on the following factors: the option’s exercise price; the price of the underlying stock on the date of grant; the estimated dividend yield; a risk-free interest rate; the estimated option term; and the expected volatility. For the risk-free interest rate, the Company uses U.S. Treasury Strips which mature at approximately the same time as the option’s expected holding term. For expected volatility, NVR has concluded that its historical volatility over the option’s expected holding term provides the most reasonable basis for this estimate. The fair value of the Options granted during 2014 was estimated on the grant date using the Pricing Model, based on the following assumptions:
	Estimated average holding period (years)	5.16
	Risk free interest rate (range)	1.064% - 2.489%
	Expected volatility (range)	18.585% - 30.571%
	Expected dividend rate	0.00%
	Weighted average grant-date fair value per share of options granted	$267.62
	In accordance with ASC 718, Compensation – Stock Compensation, the fair value of the non-vested equity shares is measured as if they were vested and issued on the grant date. Additionally, under ASC 718, service-only restrictions on vesting of non-vested equity shares are not reflected in the fair value calculation at the grant date.
	Compensation cost for Options is recognized on a straight-line basis over the requisite service period for the entire award (from the date of grant through the period of the last separately vesting portion of the grant). For the recognition of equity-based compensation expense, the Options which are subject to a performance condition are treated as a separate award from the “service-only” Options, and compensation expense for Options subject to a performance condition is recognized when it becomes probable that the stated performance target will be achieved. The Company currently believes that it is probable that the performance condition will be satisfied at the target level and is recognizing compensation expense related to such Options accordingly. Compensation cost is recognized within the income statement in the same expense line as the cash compensation paid to the respective employees. ASC 718 also requires the Company to estimate forfeitures in calculating the expense related to stock-based compensation, and requires the compensation costs of stock-based awards to be recognized net of estimated forfeitures. Total equity-based compensation expense, net of forfeitures, recognized during the three months ended September 30, 2014 and 2013 was $18,233 and $11,733, respectively, and for the nine months ended September 30, 2014 and 2013 was $44,874 and $30,385, respectively.
	As of September 30, 2014, the total unrecognized compensation cost for all outstanding Options and RSUs was approximately $212,200, net of estimated forfeitures. The unrecognized compensation cost will be recognized over each grant’s applicable vesting period, with the latest vesting date being December 31, 2019. Unrecognized compensation costs may change depending upon the satisfaction of the performance-based metric, discussed above and if the actual forfeitures differ from estimates. The weighted-average period over which the unrecognized compensation will be recorded is equal to approximately 2.7 years.
					Weighted Avg.
		Options			Exercise Price
	Outstanding at December 31, 2013		667		$	740.18
	Granted		675			1,094.82
	Exercised		(99	)		657.85
	Forfeited		(18	)		819.08
	Outstanding at September 30, 2014		1,225		$	941.31
	Exercisable at September 30, 2014		177		$	627.8
	The table above does not include 56 outstanding RSUs, which were issued at a $0 exercise price. None of the outstanding RSUs were exercisable as of September 30, 2014.

Earnings_per_Share

Earnings per Share	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Earnings per Share	'
	7. Earnings per Share
	The following weighted average shares and share equivalents were used to calculate basic and diluted earnings per share for the three and nine months ended September 30, 2014 and 2013:
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Weighted average number of shares outstanding used to calculate basic EPS		4,196		4,588		4,336		4,817
	Dilutive Securities:
	Stock options and restricted share units		158		107		153		125
	Weighted average number of shares and share equivalents outstanding used to calculate diluted EPS		4,354		4,695		4,489		4,942
	The following Options issued under equity incentive plans to purchase shares of common stock were outstanding during the three and nine months ended September 30, 2014 and 2013. However, these Options were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive in the respective periods.
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Anti-dilutive Securities:
	Outstanding Options issued under equity incentive plans		758		180		758		167

Excess_Reorganization_Value_Go

Excess Reorganization Value, Goodwill and Other Intangibles	9 Months Ended
	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Excess Reorganization Value, Goodwill and Other Intangibles	'
	8. Excess Reorganization Value, Goodwill and Other Intangibles
	Reorganization value in excess of identifiable assets (“excess reorganization value”) is an indefinite-lived intangible asset that was recognized upon NVR’s emergence from bankruptcy on September 30, 1993. Based on the allocation of the reorganization value, the portion of the reorganization value which was not attributed to specific tangible or intangible assets has been reported as excess reorganization value, which is treated similarly to goodwill. Excess reorganization value is not subject to amortization. Rather, excess reorganization value is subject to an impairment assessment on an annual basis or more frequently if changes in events or circumstances indicate that impairment may have occurred. Because excess reorganization value was based on the reorganization value of NVR’s entire enterprise upon emergence from bankruptcy, the impairment assessment is conducted on an enterprise basis based on NVR’s total equity compared to the market value of NVR’s outstanding publicly-traded common stock.
	As of September 30, 2014, goodwill and net finite-lived intangible assets totaled $441 and $5,269, respectively. The remaining finite-lived intangible assets are amortized on a straight-line basis over a weighted average life of 4.5 years. Amortization expense related to the finite-lived intangible assets was $346 and $1,037 for the three and nine months ended September 30, 2014, and $774 and $1,699 for the three and nine months ended September 30, 2013, respectively.
	The Company completed the annual impairment assessment of the excess reorganization value and goodwill during the first quarter of 2014 and determined that there was no impairment.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	9. Income Taxes
	During the first quarter of 2014, the Company recognized additional income tax expense of approximately $6,900 due to the reversal of certain previously recognized tax deductions.

Shareholders_Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Shareholders' Equity	'
	10. Shareholders’ Equity
	A summary of changes in shareholders’ equity is presented below:
				Additional								Deferred			Deferred
		Common		Paid-In			Retained		Treasury			Compensation			Compensation
		Stock		Capital			Earnings		Stock			Trust			Liability			Total
	Balance, December 31, 2013	$	206	$	1,212,050		$	4,605,557	$	(4,556,461	)	$	(17,741	)	$	17,741		$	1,261,352
	Net income		—		—			182,179		—			—			—			182,179
	Deferred compensation activity		—		—			—		—			408			(408	)		—
	Purchase of common stock for treasury		—		—			—		(409,436	)		—			—			(409,436	)
	Equity-based compensation		—		44,874			—		—			—			—			44,874
	Tax benefit from equity benefit plan activity		—		6,786			—		—			—			—			6,786
	Proceeds from stock options exercised		—		65,639			—		—			—			—			65,639
	Treasury stock issued upon option exercise and restricted share vesting		—		(29,816	)		—		29,816			—			—			—
	Balance, September 30, 2014	$	206	$	1,299,533		$	4,787,736	$	(4,936,081	)	$	(17,333	)	$	17,333		$	1,151,394
	The Company repurchased 372 shares of its common stock during the nine months ended September 30, 2014. The Company settles Option exercises and vesting of RSUs by issuing shares of treasury stock. Approximately 105 shares were issued from the treasury account during the nine months ended September 30, 2014 in settlement of Option exercises and vesting of RSUs. Shares are relieved from the treasury account based on the weighted average cost basis of treasury shares acquired.

Product_Warranties

Product Warranties	9 Months Ended
	Sep. 30, 2014
Guarantees [Abstract]	'
Product Warranties	'
	11. Product Warranties
	The Company establishes warranty and product liability reserves (“warranty reserve”) to provide for estimated future expenses as a result of construction and product defects, product recalls and litigation incidental to NVR’s homebuilding business. Liability estimates are determined based on management’s judgment, considering such factors as historical experience, the likely current cost of corrective action, manufacturers’ and subcontractors’ participation in sharing the cost of corrective action, consultations with third party experts such as engineers, and discussions with the Company’s general counsel and outside counsel retained to handle specific product liability cases. The following table reflects the changes in the Company’s warranty reserve during the three and nine months ended September 30, 2014 and 2013:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Warranty reserve, beginning of period	$	97,190		$	77,341		$	101,507		$	62,742
	Provision		12,103			15,798			35,556			49,701
	Payments		(14,981	)		(11,403	)		(42,751	)		(30,707	)
	Warranty reserve, end of period	$	94,312		$	81,736		$	94,312		$	81,736
	The warranty reserve provision for the nine months ended September 30, 2013 included a charge of approximately $15,600 to establish an accrual related to remediation of primarily water infiltration issues in a single completed community. The water infiltration issues were the result of a design issue with several products developed for and built exclusively in that one specific community. The warranty reserve provision for the nine months ended September 30, 2014 included additional charges related to this issue totaling approximately $4,000.

Segment_Disclosures

Segment Disclosures	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Segment Disclosures	'
	12. Segment Disclosures
	The following disclosure includes four homebuilding reportable segments that aggregate geographically the Company’s homebuilding operating segments, and the mortgage banking operations presented as a single reportable segment. The homebuilding reportable segments are comprised of operating divisions in the following geographic areas:
	Mid Atlantic:		Maryland, Virginia, West Virginia, Delaware and Washington, D.C.
	North East:		New Jersey and eastern Pennsylvania
	Mid East:		New York, Ohio, western Pennsylvania, Indiana and Illinois
	South East:		North Carolina, South Carolina, Tennessee and Florida
	Homebuilding profit before tax includes all revenues and income generated from the sale of homes, less the cost of homes sold, selling, general and administrative expenses and a corporate capital allocation charge. The corporate capital allocation charge is eliminated in consolidation and is based on the segment’s average net assets employed. The corporate capital allocation charged to the operating segment allows the Chief Operating Decision Maker (“CODM”) to determine whether the operating segment’s results are providing the desired rate of return after covering the Company’s cost of capital. In addition, certain assets, including goodwill and intangible assets and consolidation adjustments as discussed further below, are not allocated to the operating segments as those assets are neither included in the operating segment’s corporate capital allocation charge, nor in the CODM’s evaluation of the operating segment’s performance. The Company records charges on contract land deposits when it is determined that it is probable that recovery of the deposit is impaired. For segment reporting purposes, impairments on contract land deposits are charged to the operating segment upon the determination to terminate a finished lot purchase agreement with the developer, or to restructure a lot purchase agreement resulting in the forfeiture of the deposit. Mortgage banking profit before tax consists of revenues generated from mortgage financing, title insurance and closing services, less the costs of such services and general and administrative costs. Mortgage banking operations are not charged a corporate capital allocation charge.
	In addition to the corporate capital allocation and contract land deposit impairments discussed above, the other reconciling items between segment profit and consolidated profit before tax include unallocated corporate overhead (including all management incentive compensation), equity-based compensation expense, consolidation adjustments and external corporate interest expense. NVR’s overhead functions, such as accounting, treasury, human resources, etc., are centrally performed and the costs are not allocated to the Company’s operating segments. Consolidation adjustments consist of such items necessary to convert the reportable segments’ results, which are predominantly maintained on a cash basis, to a full accrual basis for external financial statement presentation purposes, and are not allocated to the Company’s operating segments. External corporate interest expense is primarily comprised of interest charges on the Company’s 3.95% Senior Notes due 2022 (the “Senior Notes”) and is not charged to the operating segments because the charges are included in the corporate capital allocation discussed above.
	Following are tables presenting segment revenues, profit and assets, with reconciliations to the amounts reported for the consolidated enterprise, where applicable:
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
	Revenues:
	Homebuilding Mid Atlantic		$	702,645		$	685,822		$	1,825,500		$	1,712,592
	Homebuilding North East			96,015			88,451			267,245			233,322
	Homebuilding Mid East			257,649			266,598			629,385			650,817
	Homebuilding South East			128,851			126,724			346,297			313,942
	Mortgage Banking			18,006			21,372			48,103			58,442
	Total consolidated revenues		$	1,203,166		$	1,188,967		$	3,116,530		$	2,969,115
	Profit:
	Homebuilding Mid Atlantic		$	76,542		$	92,496		$	184,900		$	177,762
	Homebuilding North East			9,056			8,031			23,761			18,114
	Homebuilding Mid East			18,374			21,823			29,241			33,058
	Homebuilding South East			10,093			11,529			26,034			20,277
	Mortgage Banking			8,617			12,665			17,884			33,783
	Total segment profit			122,682			146,544			281,820			282,994
	Contract land deposit reserve adjustment (1)			453			699			4,108			4,551
	Equity-based compensation expense (2)			(18,233	)		(11,733	)		(44,874	)		(30,385	)
	Corporate capital allocation (3)			42,220			31,297			105,697			86,588
	Unallocated corporate overhead			(8,179	)		(13,969	)		(49,652	)		(60,139	)
	Consolidation adjustments and other			10,464			(15,743	)		22,093			(605	)
	Corporate interest expense			(5,616	)		(5,505	)		(16,870	)		(16,128	)
	Reconciling items sub-total			21,109			(14,954	)		20,502			(16,118	)
	Consolidated income before taxes		$	143,791		$	131,590		$	302,322		$	266,876
			September 30, 2014			December 31, 2013
	Assets:
	Homebuilding Mid Atlantic		$	1,022,146		$	810,270
	Homebuilding North East			108,597			84,958
	Homebuilding Mid East			218,105			172,167
	Homebuilding South East			148,140			106,389
	Mortgage Banking			225,489			253,421
	Total segment assets			1,722,477			1,427,205
	Consolidated variable interest entity			6,232			7,268
	Cash and cash equivalents			455,387			844,274
	Deferred taxes			167,983			162,378
	Intangible assets and goodwill			54,637			55,674
	Contract land deposit reserve			(54,375	)		(59,761	)
	Consolidation adjustments and other			60,735			49,110
	Reconciling items sub-total			690,599			1,058,943
	Consolidated assets		$	2,413,076		$	2,486,148
	-1	This item represents changes to the contract land deposit impairment reserve, which are not allocated to the reportable segments.
	-2	The increase in equity-based compensation expense in the three months ended September 30, 2014 was attributable to the issuance of Options under the 2014 Plan during the second quarter of 2014. The increase in equity-based compensation expense in the nine months ended September 30, 2014 is primarily attributable to the issuance of Options under the 2014 Plan and RSUs granted in the second quarter of 2013. See Note 6 for additional discussion of equity-based compensation.
	-3	This item represents the elimination of the corporate capital allocation charge included in the respective homebuilding reportable segments. The corporate capital allocation charge is based on the segment’s monthly average asset balance, and was as follows for the periods presented:
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
	Homebuilding Mid Atlantic		$	27,187		$	19,320		$	67,085		$	54,036
	Homebuilding North East			3,151			2,487			8,333			6,834
	Homebuilding Mid East			7,202			6,137			18,680			16,868
	Homebuilding South East			4,680			3,353			11,599			8,850
	Total		$	42,220		$	31,297		$	105,697		$	86,588

Fair_Value

Fair Value	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value	'
	13. Fair Value
	Financial Instruments
	The estimated fair value of NVR’s Senior Notes as of September 30, 2014 was approximately $604,890. The estimated fair value is based on recent market prices of similar transactions, which is classified as Level 2 within the fair value hierarchy. The carrying value of the Senior Notes was $599,143 at September 30, 2014. Except as otherwise noted below, NVR believes that insignificant differences exist between the carrying value and the fair value of its financial instruments, which consists of cash equivalents, due to their short term nature.
	Derivative Instruments and Mortgage Loans Held for Sale
	In the normal course of business, NVR’s mortgage banking segment, NVR Mortgage Finance, Inc. (“NVRM”), 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 time frames established by NVR. All mortgagors are evaluated for credit worthiness prior to the extension of the commitment. 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 a broker/dealer. 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. NVR does not engage in speculative or trading derivative activities. Both the rate lock commitments to borrowers and the forward sale contracts to broker/dealers are undesignated derivatives and, accordingly, are marked to fair value through earnings. At September 30, 2014, there were contractual commitments to extend credit to borrowers aggregating $353,267 and open forward delivery contracts aggregating $468,249.
	GAAP assigns a fair value hierarchy to the inputs used to measure fair value. Level 1 inputs are quoted prices in active markets for identical assets and liabilities. Level 2 inputs are inputs other than quoted market prices that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs. The fair value of the Company’s rate lock commitments to borrowers and the related input levels include, as applicable:
		i)	the assumed gain/loss of the expected resultant loan sale (Level 2);
		ii)	the effects of interest rate movements between the date of the rate lock and the balance sheet date (Level 2); and
		iii)	the value of the servicing rights associated with the loan (Level 2).
	The assumed gain/loss considers the amount, if any, that the Company has discounted the price to the borrower from par for competitive reasons and the excess servicing to be received or buydown fees to be paid upon securitization of the loan. The excess servicing and buydown fees are calculated pursuant to contractual terms with investors. 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 all of its loans on a servicing released basis, and receives a servicing released premium upon sale. Thus, the value of the servicing rights, which averaged 107 basis points of the loan amount as of September 30, 2014, is included in the fair value measurement and is based upon contractual terms with investors and varies depending on the loan type. The Company assumes an approximate 11% fallout rate 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 historical 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 (Level 2). The market price changes are multiplied by the notional amount of the forward sales contracts to measure the fair value.
	Mortgage loans held for sale are recorded at fair value when closed, and thereafter are carried at the lower of cost or fair value, net of deferred origination costs, until sold. Fair value is measured using Level 2 inputs. The fair value of loans held for sale of $198,597 included on the accompanying condensed consolidated balance sheet has been increased by $736 from the aggregate principal balance of $197,861.
	The undesignated derivative instruments are included on the accompanying condensed consolidated balance sheet, as of September 30, 2014, as follows:
			Balance Sheet Location		Fair Value
	Derivative Assets:
	Rate lock commitments			NVRM - Other assets	$	2,152
	Forward sales contracts			NVRM - Other assets	$	312
	The fair value measurement as of September 30, 2014 was as follows:
			Notional or		Assumed			Interest			Servicing		Security		Total Fair
			Principal		Gain/(Loss)			Rate			Rights		Price		Value
			Amount		From Loan			Movement			Value		Change		Measurement
					Sale			Effect							Gain/(Loss)
	Rate lock commitments		$	353,267	$	(1,011	)	$	(211	)	$	3,374	$	—	$	2,152
	Forward sales contracts		$	468,249		—			—			—		312		312
	Mortgages held for sale		$	197,861		(497	)		(874	)		2,107		—		736
	Total Fair Value Measurement				$	(1,508	)	$	(1,085	)	$	5,481	$	312	$	3,200
	For the three and nine-month periods ended September 30, 2014, NVRM recorded a fair value adjustment to expense of $1,379 and a fair value adjustment to income of $2,681, respectively. For the three and nine-month periods ended September 30, 2013, NVRM recorded a fair value adjustment to expense of $418 and a fair value adjustment to income of $2,063, respectively. Unrealized gains/losses from the change in the fair value measurements are included in earnings as a component of mortgage banking fees in the accompanying condensed consolidated statements of income. The fair value measurement will be impacted in the future by the change in the value of the servicing rights, interest rate movements, security price fluctuations, and the volume and product mix of the Company’s closed loans and locked loan commitments.

Debt

Debt	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Debt	'
	14. Debt
	As of September 30, 2014, the Company had Senior Notes outstanding with a principal balance of $600,000. The Senior Notes were issued at a discount to yield 3.97% and have been reflected net of the unamortized discount in the accompanying condensed consolidated balance sheet. The Senior Notes mature on September 15, 2022 and bear interest at 3.95%, payable semi-annually in arrears on March 15 and September 15.
	NVRM provides for its mortgage origination and other operating activities using cash generated from operations, borrowings from its parent company, NVR, as well as a revolving mortgage repurchase agreement (the “Repurchase Agreement”), which is non-recourse to NVR. The Repurchase Agreement provides for loan purchases up to $25,000, subject to certain sub-limits. At September 30, 2014, there was no outstanding debt under the Repurchase Agreement. Amounts outstanding under the Repurchase Agreement are collateralized by the Company’s mortgage loans held for sale. As of September 30, 2014, there were no borrowing base limitations reducing the amount available for borrowings under the Repurchase Agreement. The Repurchase Agreement expires on July 29, 2015.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	15. Commitments and Contingencies
	In October 2004, Patrick Tracy, whom NVR had employed as a Sales and Marketing Representative (“SMR”), filed a lawsuit against the Company in the U.S. District Court for the Western District of New York alleging that NVR had misclassified him and other SMRs as outside sales personnel exempt from certain state and federal wage laws, including overtime pay requirements. Mr. Tracy’s attorneys subsequently filed several other lawsuits in various courts asserting substantially similar claims on behalf of various classes or groups of SMRs. None of those courts have held that the claims are appropriate for class, collective, or other group treatment, and the Western District of New York ruled in April 2013 that the claims in Mr. Tracy’s case could not proceed on such a basis. The Western District of New York reached the same conclusion in July 2014 regarding a separate case that Mr. Tracy’s attorneys brought on behalf of other SMRs.
	In October 2013, Mr. Tracy’s individual claims were tried by a jury, which returned a unanimous verdict in NVR’s favor and found that the Company had properly classified Mr. Tracy as an exempt outside sales person. The plaintiff has sought review in the U.S. Court of Appeals for the Second Circuit, in which he challenges the legal standard that the trial court applied in crafting its jury instructions regarding the outside sales exemption, in addition to rulings that the trial court made at earlier stages of the case. That appeal is scheduled to be fully briefed in December 2014. The remainder of the cases noted above are in various stages of pre-trial proceedings, many of them stayed or administratively closed pending a final disposition of the Tracy action.
	The Company believes that its compensation practices in regard to SMRs are entirely lawful and has vigorously defended all claims challenging those practices. In light of the points noted above, the Company has not recorded any associated liabilities on the accompanying condensed consolidated balance sheets in conjunction with any of those claims.
	In June 2010, the Company received a Request for Information from the United States Environmental Protection Agency (“EPA”) pursuant to Section 308 of the Clean Water Act. The request sought information about storm water discharge practices in connection with homebuilding projects completed or underway by the Company in New York and New Jersey. The Company cooperated with this request, and provided information to the EPA. The Company was subsequently informed by the United States Department of Justice (“DOJ”) that the EPA forwarded the information on the matter to the DOJ, and the DOJ requested that the Company meet with the government to discuss the status of the case. Meetings took place in January 2012 and August 2012 with representatives from both the EPA and DOJ. The Company has continued discussions with the EPA and DOJ. It is as yet unclear what next steps the DOJ will take in the matter. The Company intends to continue cooperating with any future EPA and/or DOJ inquiries. At this time, the Company cannot predict the outcome of this inquiry, nor can it reasonably estimate the potential costs that may be associated with its eventual resolution.
	The Company and its subsidiaries are also involved in various other litigation arising in the ordinary course of business. In the opinion of management, and based on advice of legal counsel, this litigation is not expected to have a material adverse effect on the financial position, results of operations or cash flows of the Company. Legal costs incurred in connection with outstanding litigation are expensed as incurred.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2014
Accounting Changes and Error Corrections [Abstract]	'
Recent Accounting Pronouncements	'
	16. Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The standard will replace most existing revenue recognition guidance in GAAP when it becomes effective. The standard is effective for the Company on January 1, 2017. Early adoption is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company has not yet selected a transition method and is currently evaluating the effect that the standard will have on its consolidated financial statements and related disclosures.
	In August 2014, FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The standard requires an entity’s management to evaluate at each annual and interim reporting period whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued and to provide related footnote disclosures. The standard is effective for the first annual period ending after December 15, 2016, and interim periods thereafter. The Company does not believe that the adoption of this standard will have a material effect on its consolidated financial statements and related disclosures.

Variable_Interest_Entities_Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Total Risk Related to Lot Options	'
	NVR’s total risk of loss related to contract land deposits as of September 30, 2014 and December 31, 2013, was as follows:
			September 30, 2014			December 31, 2013
	Contract land deposits		$	337,954		$	296,646
	Loss reserve on contract land deposits			(54,375	)		(59,761	)
	Contract land deposits, net			283,579			236,885
	Contingent obligations in the form of letters of credit			5,719			2,459
	Contingent specific performance obligations (1)			1,505			1,707
	Total risk of loss		$	290,803		$	241,051
	-1	At September 30, 2014 and December 31, 2013, the Company was committed to purchase 10 and 13 finished lots, respectively, under specific performance obligations.

Joint_Ventures_Tables

Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Condensed Balance Sheets of Consolidated JV	'
	The condensed balance sheets at September 30, 2014 and December 31, 2013, of the consolidated JV were as follows:
		September 30, 2014		December 31, 2013
	Cash	$	2,598	$	668
	Restricted cash		169		248
	Other assets		366		542
	Land under development		3,099		5,810
	Total assets	$	6,232	$	7,268
	Debt	$	661	$	3,365
	Accrued expenses		1,374		862
	Equity		4,197		3,041
	Total liabilities and equity	$	6,232	$	7,268

Capitalized_Interest_Tables

Capitalized Interest (Tables)	9 Months Ended
	Sep. 30, 2014
Text Block [Abstract]	'
Summary of Interest Costs Incurred, Capitalized, Expensed and Charged to Cost of Sales	'
	NVR’s interest costs incurred, capitalized, expensed and charged to cost of sales during the three and nine months ended September 30, 2014 and 2013 was as follows:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Interest capitalized, beginning of period	$	3,810		$	2,454		$	3,294		$	893
	Interest incurred		6,293			6,287			18,716			18,801
	Interest charged to interest expense		(5,775	)		(5,682	)		(17,292	)		(16,622	)
	Interest charged to cost of sales		(301	)		(38	)		(691	)		(51	)
	Interest capitalized, end of period	$	4,027		$	3,021		$	4,027		$	3,021

EquityBased_Compensation_Expen1

Equity-Based Compensation Expense (Tables)	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Black-Scholes Option-Pricing Model Assumptions	'
	The fair value of the Options granted during 2014 was estimated on the grant date using the Pricing Model, based on the following assumptions:
	Estimated average holding period (years)	5.16
	Risk free interest rate (range)	1.064% - 2.489%
	Expected volatility (range)	18.585% - 30.571%
	Expected dividend rate	0.00%
	Weighted average grant-date fair value per share of options granted	$267.62
Stock-Based Compensation Plans	'
					Weighted Avg.
		Options			Exercise Price
	Outstanding at December 31, 2013		667		$	740.18
	Granted		675			1,094.82
	Exercised		(99	)		657.85
	Forfeited		(18	)		819.08
	Outstanding at September 30, 2014		1,225		$	941.31
	Exercisable at September 30, 2014		177		$	627.8

Earnings_per_Share_Tables

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Weighted Average Shares and Share Equivalents Used to Calculate Basic and Diluted Earnings per Share	'
	The following weighted average shares and share equivalents were used to calculate basic and diluted earnings per share for the three and nine months ended September 30, 2014 and 2013:
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Weighted average number of shares outstanding used to calculate basic EPS		4,196		4,588		4,336		4,817
	Dilutive Securities:
	Stock options and restricted share units		158		107		153		125
	Weighted average number of shares and share equivalents outstanding used to calculate diluted EPS		4,354		4,695		4,489		4,942
Schedule of Anti-dilutive Securities Not Included in Computation of Diluted Earnings per Share	'
	The following Options issued under equity incentive plans to purchase shares of common stock were outstanding during the three and nine months ended September 30, 2014 and 2013. However, these Options were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive in the respective periods.
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Anti-dilutive Securities:
	Outstanding Options issued under equity incentive plans		758		180		758		167

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Summary of Changes in Shareholders' Equity	'
	A summary of changes in shareholders’ equity is presented below:
				Additional								Deferred			Deferred
		Common		Paid-In			Retained		Treasury			Compensation			Compensation
		Stock		Capital			Earnings		Stock			Trust			Liability			Total
	Balance, December 31, 2013	$	206	$	1,212,050		$	4,605,557	$	(4,556,461	)	$	(17,741	)	$	17,741		$	1,261,352
	Net income		—		—			182,179		—			—			—			182,179
	Deferred compensation activity		—		—			—		—			408			(408	)		—
	Purchase of common stock for treasury		—		—			—		(409,436	)		—			—			(409,436	)
	Equity-based compensation		—		44,874			—		—			—			—			44,874
	Tax benefit from equity benefit plan activity		—		6,786			—		—			—			—			6,786
	Proceeds from stock options exercised		—		65,639			—		—			—			—			65,639
	Treasury stock issued upon option exercise and restricted share vesting		—		(29,816	)		—		29,816			—			—			—
	Balance, September 30, 2014	$	206	$	1,299,533		$	4,787,736	$	(4,936,081	)	$	(17,333	)	$	17,333		$	1,151,394

Product_Warranties_Tables

Product Warranties (Tables)	9 Months Ended
	Sep. 30, 2014
Guarantees [Abstract]	'
Summary of Changes in Product Warranties Reserve	'
	The following table reflects the changes in the Company’s warranty reserve during the three and nine months ended September 30, 2014 and 2013:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Warranty reserve, beginning of period	$	97,190		$	77,341		$	101,507		$	62,742
	Provision		12,103			15,798			35,556			49,701
	Payments		(14,981	)		(11,403	)		(42,751	)		(30,707	)
	Warranty reserve, end of period	$	94,312		$	81,736		$	94,312		$	81,736

Segment_Disclosures_Tables

Segment Disclosures (Tables)	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Revenues	'
	Following are tables presenting segment revenues, profit and assets, with reconciliations to the amounts reported for the consolidated enterprise, where applicable:
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
	Revenues:
	Homebuilding Mid Atlantic		$	702,645		$	685,822		$	1,825,500		$	1,712,592
	Homebuilding North East			96,015			88,451			267,245			233,322
	Homebuilding Mid East			257,649			266,598			629,385			650,817
	Homebuilding South East			128,851			126,724			346,297			313,942
	Mortgage Banking			18,006			21,372			48,103			58,442
	Total consolidated revenues		$	1,203,166		$	1,188,967		$	3,116,530		$	2,969,115
Profit	'
	Profit:
	Homebuilding Mid Atlantic		$	76,542		$	92,496		$	184,900		$	177,762
	Homebuilding North East			9,056			8,031			23,761			18,114
	Homebuilding Mid East			18,374			21,823			29,241			33,058
	Homebuilding South East			10,093			11,529			26,034			20,277
	Mortgage Banking			8,617			12,665			17,884			33,783
	Total segment profit			122,682			146,544			281,820			282,994
	Contract land deposit reserve adjustment (1)			453			699			4,108			4,551
	Equity-based compensation expense (2)			(18,233	)		(11,733	)		(44,874	)		(30,385	)
	Corporate capital allocation (3)			42,220			31,297			105,697			86,588
	Unallocated corporate overhead			(8,179	)		(13,969	)		(49,652	)		(60,139	)
	Consolidation adjustments and other			10,464			(15,743	)		22,093			(605	)
	Corporate interest expense			(5,616	)		(5,505	)		(16,870	)		(16,128	)
	Reconciling items sub-total			21,109			(14,954	)		20,502			(16,118	)
	Consolidated income before taxes		$	143,791		$	131,590		$	302,322		$	266,876
	-1	This item represents changes to the contract land deposit impairment reserve, which are not allocated to the reportable segments.
	-2	The increase in equity-based compensation expense in the three months ended September 30, 2014 was attributable to the issuance of Options under the 2014 Plan during the second quarter of 2014. The increase in equity-based compensation expense in the nine months ended September 30, 2014 is primarily attributable to the issuance of Options under the 2014 Plan and RSUs granted in the second quarter of 2013. See Note 6 for additional discussion of equity-based compensation.
	-3	This item represents the elimination of the corporate capital allocation charge included in the respective homebuilding reportable segments.
Assets	'
			September 30, 2014			December 31, 2013
	Assets:
	Homebuilding Mid Atlantic		$	1,022,146		$	810,270
	Homebuilding North East			108,597			84,958
	Homebuilding Mid East			218,105			172,167
	Homebuilding South East			148,140			106,389
	Mortgage Banking			225,489			253,421
	Total segment assets			1,722,477			1,427,205
	Consolidated variable interest entity			6,232			7,268
	Cash and cash equivalents			455,387			844,274
	Deferred taxes			167,983			162,378
	Intangible assets and goodwill			54,637			55,674
	Contract land deposit reserve			(54,375	)		(59,761	)
	Consolidation adjustments and other			60,735			49,110
	Reconciling items sub-total			690,599			1,058,943
	Consolidated assets		$	2,413,076		$	2,486,148
Corporate Capital Allocation Charge	'
	The corporate capital allocation charge is based on the segment’s monthly average asset balance, and was as follows for the periods presented:
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
	Homebuilding Mid Atlantic		$	27,187		$	19,320		$	67,085		$	54,036
	Homebuilding North East			3,151			2,487			8,333			6,834
	Homebuilding Mid East			7,202			6,137			18,680			16,868
	Homebuilding South East			4,680			3,353			11,599			8,850
	Total		$	42,220		$	31,297		$	105,697		$	86,588

Fair_Value_Tables

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Undesignated Derivative Instruments	'
	The undesignated derivative instruments are included on the accompanying condensed consolidated balance sheet, as of September 30, 2014, as follows:
		Balance Sheet Location		Fair Value
	Derivative Assets:
	Rate lock commitments		NVRM - Other assets	$	2,152
	Forward sales contracts		NVRM - Other assets	$	312
Fair Value Measurement	'
	The fair value measurement as of September 30, 2014 was as follows:
		Notional or		Assumed			Interest			Servicing		Security		Total Fair
		Principal		Gain/(Loss)			Rate			Rights		Price		Value
		Amount		From Loan			Movement			Value		Change		Measurement
				Sale			Effect							Gain/(Loss)
	Rate lock commitments	$	353,267	$	(1,011	)	$	(211	)	$	3,374	$	—	$	2,152
	Forward sales contracts	$	468,249		—			—			—		312		312
	Mortgages held for sale	$	197,861		(497	)		(874	)		2,107		—		736
	Total Fair Value Measurement			$	(1,508	)	$	(1,085	)	$	5,481	$	312	$	3,200

Variable_Interest_Entities_Add

Variable Interest Entities - Additional Information (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Variable Interest Entity [Line Items]	'
Maximum range of deposits required under the purchase agreements	10.00%
Power of developer's equity holders to direct operating activities of the development entity	100.00%
Lots controlled by NVR	62,500
Contract land deposits in cash	335,100
Letters of credit related to lots	1,700
Contract with Land Owners [Member]	'
Variable Interest Entity [Line Items]	'
Lots controlled by NVR	6,400
Contract land deposits	2,800
Letters of credit related to land contract	4,000
Refundable deposits and letters of credit	5,500
Development Entities [Member]	'
Variable Interest Entity [Line Items]	'
Voting rights description	'NVR has no voting rights in any of the development entities

Variable_Interest_Entities_Tot

Variable Interest Entities - Total Risk Related to Lot Options (Detail) (USD $)	Sep. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'		'
Contract land deposits	$337,954		$296,646
Loss reserve on contract land deposits	-54,375		-59,761
Contract land deposits, net	283,579		236,885
Contingent obligations in the form of letters of credit	5,719		2,459
Contingent specific performance obligations	1,505	[1]	1,707	[1]
Total risk of loss	$290,803		$241,051
[1]	(1) At September 30, 2014 and December 31, 2013, the Company was committed to purchase 10 and 13 finished lots, respectively, under specific performance obligations.

Variable_Interest_Entities_Tot1

Variable Interest Entities - Total Risk Related to Lot Options (Parenthetical) (Detail)	Sep. 30, 2014	Dec. 31, 2013
	Lot	Lot
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'	'
Finished lots committed to purchase under specific performance obligations	10	13

Joint_Ventures_Additional_Info

Joint Ventures - Additional Information (Detail) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified	JointVenture
	Lot
Joint Ventures [Line Items]	'
Aggregate investment	$87,100
Expected production of finished lots	8,800
Number of joint ventures	4
Total lots not under contract with NVR under the joint venture	3,300
Other Assets [Member]	'
Joint Ventures [Line Items]	'
Aggregate investment	$83,800
Number of joint ventures NVR is not primary beneficiary	3

Joint_Ventures_Condensed_Balan

Joint Ventures - Condensed Balance Sheets of Consolidated JV (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Equity Method Investments and Joint Ventures [Abstract]	'	'
Cash	$2,598	$668
Restricted cash	169	248
Other assets	366	542
Land under development	3,099	5,810
Total assets	6,232	7,268
Debt	661	3,365
Accrued expenses	1,374	862
Equity	4,197	3,041
Total liabilities and equity	$6,232	$7,268

Land_Under_Development_Additio

Land Under Development - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Sep. 30, 2014
	Lot	Lot
		Parcels
Real Estate [Abstract]	'	'
Number of raw parcels of land acquired	'	5
Carrying value of raw parcels of land	'	$55,668
Number of finished lots for use in homebuilding operations	'	660
Finished lots under lot purchase agreements	'	126
Acquisition costs of raw parcel of land	$12,000	'
Number of finished lots intended to be developed from current year raw land acquisition	440	'

Capitalized_Interest_Summary_o

Capitalized Interest - Summary of Interest Costs Incurred, Capitalized, Expensed and Charged to Cost of Sales (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Interest Costs Incurred [Abstract]	'	'	'	'
Interest capitalized, beginning of period	$3,810	$2,454	$3,294	$893
Interest incurred	6,293	6,287	18,716	18,801
Interest charged to interest expense	-5,775	-5,682	-17,292	-16,622
Interest charged to cost of sales	-301	-38	-691	-51
Interest capitalized, end of period	$4,027	$3,021	$4,027	$3,021

EquityBased_Compensation_Expen2

Equity-Based Compensation Expense - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Total stock based compensation expense, net of forfeitures	$18,233	$11,733	$44,874	$30,385
Total unrecognized compensation cost for all outstanding Options and RSUs	$212,200	'	$212,200	'
Weighted-average period over which the unrecognized compensation will be recorded	'	'	'2 years 8 months 12 days	'
2014 Equity Plan [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Options granted	'	'	294,000	'
RSU [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Options issued under plan	'	'	16,000	'
Option vesting rights	'	'	'33% increments on December 31, 2016, 2017 and 2018	'
Percentage of options vesting rights	'	'	33.00%	'
Restricted share units weighted average fair value per share of grants	'	'	$1,153.41	'
Outstanding RSUs	56,000	'	56,000	'
Outstanding RSUs, exercise price	$0	'	$0	'
RSUs exercisable	0	'	0	'
Options [Member] | 2014 Equity Plan [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Shares authorized under the plan	950,000	'	950,000	'
Options issued under plan	'	'	628,000	'
Option vesting rights	'	'	'Over four years in 25% increments on December 31, 2016, 2017, 2018 and 2019.	'
Percentage of options vesting rights	'	'	25.00%	'
Vesting options granted period	'	'	'4 years	'
Number of years for option expiration	'	'	'10 years	'
Options [Member] | 2010 Equity Plan [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Options issued under plan	'	'	47,000	'
Option vesting rights	'	'	'25% increments on December 31, 2016, 2017, 2018 and 2019, based solely on continued employment.	'
Number of years for option expiration	'	'	'10 years	'
Performance Shares [Member] | 2014 Equity Plan [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Options granted	'	'	334,000	'

EquityBased_Compensation_Expen3

Equity-Based Compensation Expense - Black-Scholes Option-Pricing Model Assumptions (Detail) (USD $)	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Estimated average holding period (years)	'5 years 1 month 28 days
Risk free interest rate (range), minimum	1.06%
Risk free interest rate (range), maximum	2.49%
Expected volatility (range), minimum	18.59%
Expected volatility (range), maximum	30.57%
Expected dividend rate	0.00%
Weighted average grant-date fair value per share of options granted	$267.62

EquityBased_Compensation_Expen4

Equity-Based Compensation Expense - Stock-Based Compensation Plans (Detail) (USD $)	9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Outstanding at beginning of period (Options)	667
Granted (Options)	675
Exercised (Options)	-99
Forfeited (Options)	-18
Outstanding at end of period (Options)	1,225
Exercisable at end of period (Options)	177
Outstanding at beginning of period (Weighted Avg. Exercise Price)	$740.18
Granted (Weighted Avg. Exercise Price)	$1,094.82
Exercised (Weighted Avg. Exercise Price)	$657.85
Forfeited (Weighted Avg. Exercise Price)	$819.08
Outstanding at end of period (Weighted Avg. Exercise Price)	$941.31
Exercisable at end of period (Weighted Avg. Exercise Price)	$627.80

Earnings_per_Share_Weighted_Av

Earnings per Share - Weighted Average Shares and Share Equivalents Used to Calculate Basic and Diluted Earnings per Share (Detail)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'
Weighted average number of shares outstanding used to calculate basic EPS	4,196	4,588	4,336	4,817
Dilutive Securities:	'	'	'	'
Stock options and restricted share units	158	107	153	125
Weighted average number of shares and share equivalents outstanding used to calculate diluted EPS	4,354	4,695	4,489	4,942

Earnings_per_Share_Schedule_of

Earnings per Share - Schedule of Anti-dilutive Securities Not Included in Computation of Diluted Earnings per Share (Detail) (Options [Member])	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Options [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Outstanding Options issued under equity incentive plans	758	180	758	167

Excess_Reorganization_Value_Go1

Excess Reorganization Value, Goodwill and Other Intangibles - Additional Information (Detail) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'	'	'	'	'
Goodwill	$441	'	'	$441	'
Finite-lived intangible assets	5,269	'	'	5,269	'
Weighted average life of finite-lived intangible assets	'	'	'	'4 years 6 months	'
Amortization expense	346	'	774	1,037	1,699
Impairment of excess reorganization value and goodwill	'	$0	'	'	'

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Additional income tax expense due to reversal of previously recognized tax deductions	$6,900

Shareholders_Equity_Summary_of

Shareholders' Equity - Summary of Changes in Shareholders' Equity (Detail) (USD $)	3 Months Ended		9 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
					Common Stock [Member]	Common Stock [Member]	Additional Paid-In-Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Deferred Compensation Trust [Member]	Deferred Compensation Liability [Member]
Stockholders' Equity [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Beginning Balance	'	'	$1,261,352	'	$206	$206	$1,212,050	$4,605,557	($4,556,461)	($17,741)	$17,741
Net income	90,152	82,935	182,179	168,666	'	'	'	182,179	'	'	'
Deferred compensation activity	'	'	0	'	'	'	'	'	'	408	-408
Purchase of common stock for treasury	'	'	-409,436	'	'	'	'	'	-409,436	'	'
Equity-based compensation	'	'	44,874	'	'	'	44,874	'	'	'	'
Tax benefit from equity benefit plan activity	'	'	6,786	'	'	'	6,786	'	'	'	'
Proceeds from stock options exercised	'	'	65,639	7,564	'	'	65,639	'	'	'	'
Treasury stock issued upon option exercise and restricted share vesting	'	'	0	'	'	'	-29,816	'	29,816	'	'
Ending Balance	$1,151,394	'	$1,151,394	'	$206	$206	$1,299,533	$4,787,736	($4,936,081)	($17,333)	$17,333

Shareholders_Equity_Additional

Shareholders' Equity - Additional Information (Detail)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Equity [Abstract]	'
Common stock repurchased	372
Treasury stock issued upon Option exercise and RSUs vesting	105

Product_Warranties_Summary_of_

Product Warranties - Summary of Changes in Product Warranties Reserve (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Product Warranties Disclosures [Abstract]	'	'	'	'
Warranty reserve, beginning of period	$97,190	$77,341	$101,507	$62,742
Provision	12,103	15,798	35,556	49,701
Payments	-14,981	-11,403	-42,751	-30,707
Warranty reserve, end of period	$94,312	$81,736	$94,312	$81,736

Product_Warranties_Additional_

Product Warranties - Additional Information (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Product Warranties Disclosures [Abstract]	'	'
Warranty accrual related to a single completed community	$4,000	$15,600

Segment_Disclosures_Additional

Segment Disclosures - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2014
Segment Reporting Information [Line Items]	'
Senior notes interest rate	3.95%
Senior notes maturity	15-Sep-22
Senior Notes due 2022 [Member]	'
Segment Reporting Information [Line Items]	'
Senior notes interest rate	3.95%
Senior notes maturity	15-Sep-22
Homebuilding [Member]	'
Segment Reporting Information [Line Items]	'
Number of reportable segments	4
Mortgage Banking [Member]	'
Segment Reporting Information [Line Items]	'
Number of reportable segments	1

Segment_Disclosures_Revenues_D

Segment Disclosures - Revenues (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting, Revenue Reconciling Item [Line Items]	'	'	'	'
Total consolidated revenues	$1,203,166	$1,188,967	$3,116,530	$2,969,115
Homebuilding Mid Atlantic [Member]	'	'	'	'
Segment Reporting, Revenue Reconciling Item [Line Items]	'	'	'	'
Revenues	702,645	685,822	1,825,500	1,712,592
Homebuilding North East [Member]	'	'	'	'
Segment Reporting, Revenue Reconciling Item [Line Items]	'	'	'	'
Revenues	96,015	88,451	267,245	233,322
Homebuilding Mid East [Member]	'	'	'	'
Segment Reporting, Revenue Reconciling Item [Line Items]	'	'	'	'
Revenues	257,649	266,598	629,385	650,817
Homebuilding South East [Member]	'	'	'	'
Segment Reporting, Revenue Reconciling Item [Line Items]	'	'	'	'
Revenues	128,851	126,724	346,297	313,942
Mortgage Banking [Member]	'	'	'	'
Segment Reporting, Revenue Reconciling Item [Line Items]	'	'	'	'
Mortgage Banking	$18,006	$21,372	$48,103	$58,442

Segment_Disclosures_Profit_Det

Segment Disclosures - Profit (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Consolidated income before taxes	$143,791	$131,590	$302,322	$266,876
Corporate Capital Allocation [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	42,220	31,297	105,697	86,588
Homebuilding Mid Atlantic [Member] | Corporate Capital Allocation [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	27,187	19,320	67,085	54,036
Homebuilding North East [Member] | Corporate Capital Allocation [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	3,151	2,487	8,333	6,834
Homebuilding Mid East [Member] | Corporate Capital Allocation [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	7,202	6,137	18,680	16,868
Homebuilding South East [Member] | Corporate Capital Allocation [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	4,680	3,353	11,599	8,850
Operating Segments [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Consolidated income before taxes	122,682	146,544	281,820	282,994
Operating Segments [Member] | Homebuilding Mid Atlantic [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Consolidated income before taxes	76,542	92,496	184,900	177,762
Operating Segments [Member] | Homebuilding North East [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Consolidated income before taxes	9,056	8,031	23,761	18,114
Operating Segments [Member] | Homebuilding Mid East [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Consolidated income before taxes	18,374	21,823	29,241	33,058
Operating Segments [Member] | Homebuilding South East [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Consolidated income before taxes	10,093	11,529	26,034	20,277
Operating Segments [Member] | Mortgage Banking [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Consolidated income before taxes	8,617	12,665	17,884	33,783
Reconciling Items Sub-Total [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	21,109	-14,954	20,502	-16,118
Reconciling Items Sub-Total [Member] | Contract Land Deposit Reserve Adjustment [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	453	699	4,108	4,551
Reconciling Items Sub-Total [Member] | Equity-Based Compensation Expense [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	-18,233	-11,733	-44,874	-30,385
Reconciling Items Sub-Total [Member] | Corporate Capital Allocation [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	42,220	31,297	105,697	86,588
Reconciling Items Sub-Total [Member] | Unallocated Corporate Overhead [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	-8,179	-13,969	-49,652	-60,139
Reconciling Items Sub-Total [Member] | Corporate Interest Expense [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	-5,616	-5,505	-16,870	-16,128
Consolidation adjustments and other [Member]	'	'	'	'
Segment Reporting, Profit Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	$10,464	($15,743)	$22,093	($605)

Segment_Disclosures_Assets_Det

Segment Disclosures - Assets (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'	'
Consolidated assets	$2,413,076	$2,486,148	'	'
Consolidated variable interest entity	6,232	7,268	'	'
Cash and cash equivalents	466,293	866,253	814,197	1,153,507
Contract land deposit reserve	-54,375	-59,761	'	'
Operating Segments [Member]	'	'	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'	'
Consolidated assets	1,722,477	1,427,205	'	'
Operating Segments [Member] | Homebuilding Mid Atlantic [Member]	'	'	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'	'
Consolidated assets	1,022,146	810,270	'	'
Operating Segments [Member] | Homebuilding North East [Member]	'	'	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'	'
Consolidated assets	108,597	84,958	'	'
Operating Segments [Member] | Homebuilding Mid East [Member]	'	'	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'	'
Consolidated assets	218,105	172,167	'	'
Operating Segments [Member] | Homebuilding South East [Member]	'	'	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'	'
Consolidated assets	148,140	106,389	'	'
Operating Segments [Member] | Mortgage Banking [Member]	'	'	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'	'
Consolidated assets	225,489	253,421	'	'
Reconciling Items Sub-Total [Member]	'	'	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'	'
Consolidated variable interest entity	6,232	7,268	'	'
Cash and cash equivalents	455,387	844,274	'	'
Deferred taxes	167,983	162,378	'	'
Intangible assets and goodwill	54,637	55,674	'	'
Contract land deposit reserve	-54,375	-59,761	'	'
Reconciling items sub-total	690,599	1,058,943	'	'
Consolidation adjustments and other [Member]	'	'	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'	'
Consolidated assets	$60,735	$49,110	'	'

Segment_Disclosures_Corporate_

Segment Disclosures - Corporate Capital Allocation Charge (Detail) (Corporate Capital Allocation [Member], USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting, Other Significant Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	$42,220	$31,297	$105,697	$86,588
Homebuilding Mid Atlantic [Member]	'	'	'	'
Segment Reporting, Other Significant Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	27,187	19,320	67,085	54,036
Homebuilding North East [Member]	'	'	'	'
Segment Reporting, Other Significant Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	3,151	2,487	8,333	6,834
Homebuilding Mid East [Member]	'	'	'	'
Segment Reporting, Other Significant Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	7,202	6,137	18,680	16,868
Homebuilding South East [Member]	'	'	'	'
Segment Reporting, Other Significant Reconciling Item [Line Items]	'	'	'	'
Segment reporting reconciling item for operating profit	$4,680	$3,353	$11,599	$8,850

Fair_Value_Additional_Informat

Fair Value - Additional Information (Detail) (USD $)	9 Months Ended	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014
		Not Designated as Hedging Instrument [Member]	Not Designated as Hedging Instrument [Member]	Not Designated as Hedging Instrument [Member]	Not Designated as Hedging Instrument [Member]	Level 2 [Member]	Level 2 [Member]	Level 2 [Member]	Homebuilding [Member]	Homebuilding [Member]	Homebuilding [Member]
							Fair Value, Measurements, Recurring [Member]	Fair Value, Measurements, Recurring [Member]			Level 2 [Member]
							Mortgage Banking [Member]	Mortgage Banking [Member]			Fair Value, Measurements, Recurring [Member]
							Rate Lock Commitments [Member]	Forward Sales Contracts [Member]			Senior Notes due 2022 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Senior Notes fair value	'	'	'	'	'	'	'	'	'	'	$604,890
Senior Notes carrying value	'	'	'	'	'	'	'	'	599,143	599,075	599,143
Notional amount of contractual commitments	'	'	'	'	'	'	353,267	468,249	'	'	'
Average basis points of loan amount	1.07%	'	'	'	'	'	'	'	'	'	'
Fallout rate of measuring fair value of rate lock commitments	11.00%	'	'	'	'	'	'	'	'	'	'
Fair value of mortgage loans held for sale	198,597	'	'	'	'	'	'	'	'	'	'
Change in fair value of loans held for sale	736	'	'	'	'	'	'	'	'	'	'
Aggregate principal balance of loans held for sale	'	'	'	'	'	197,861	'	'	'	'	'
Fair value adjustment income (expense)	'	($1,379)	($418)	$2,681	$2,063	'	'	'	'	'	'

Fair_Value_Undesignated_Deriva

Fair Value - Undesignated Derivative Instruments (Detail) (Other Assets [Member], USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Rate Lock Commitments [Member]	'
Derivative Assets:	'
Fair value of derivatives, assets	$2,152
Forward Sales Contracts [Member]	'
Derivative Assets:	'
Fair value of derivatives, assets	$312

Fair_Value_Fair_Value_Measurem

Fair Value - Fair Value Measurement (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Notional or Principal Amount	'
Assumed Gain/(Loss) From Loan Sale	-1,508
Interest Rate Movement Effect	-1,085
Servicing Rights Value	5,481
Security Price Change	312
Total Fair Value Measurement Gain/(Loss)	3,200
Mortgage Banking [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Rate Lock Commitments [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Notional or Principal Amount	353,267
Assumed Gain/(Loss) From Loan Sale	-1,011
Interest Rate Movement Effect	-211
Servicing Rights Value	3,374
Security Price Change	'
Total Fair Value Measurement Gain/(Loss)	2,152
Mortgage Banking [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Sales Contracts [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Notional or Principal Amount	468,249
Assumed Gain/(Loss) From Loan Sale	'
Interest Rate Movement Effect	'
Servicing Rights Value	'
Security Price Change	312
Total Fair Value Measurement Gain/(Loss)	312
Mortgage Banking [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgages Held for Sale [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Notional or Principal Amount	197,861
Assumed Gain/(Loss) From Loan Sale	-497
Interest Rate Movement Effect	-874
Servicing Rights Value	2,107
Security Price Change	'
Total Fair Value Measurement Gain/(Loss)	$736

Debt_Additional_Information_De

Debt - Additional Information (Detail) (USD $)	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Senior notes principal amount	$600,000,000
Senior notes effective interest rate	3.97%
Senior notes maturity	15-Sep-22
Senior notes interest rate	3.95%
Frequency of senior notes payment	'Semi-annually in arrears on March 15 and September 15.
Repurchase agreement maximum loan borrowing capacity	25,000,000
Borrowing base	0
Debt outstanding under repurchase agreement	$0
Expiration date of repurchase agreement	29-Jul-15