7Baggers

Dream Finders Homes, Inc
(NYSE:DFH) 

DFH stock logo

Dream Finders Homes, Inc. operates as a holding company for Dream Finders Holdings LLC that engages in homebuilding business in the United States. The company designs, builds, and sells single family attached and detached homes in Jacksonville, Orlando, Denver, the Washington D.C. metropolitan area,...

Founded: 2008
CEO / Founder: Patrick Zalupski 
Sector: Consumer Cyclical
Industry: Residential Construction
Consumer Cyclical
Share this website to your friends
• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
• Beta:
• Return on Equity (ROE) ttm:
• Return on Assets (ROA) ttm:
• EPS ttm:
• Book value per Share:
• Cash per Share:
• Current ast per Share:
• P/E ttm:
• P/E forward:
• P/E ttm high:
• P/E ttm low:
• P/S ttm:
• P/B ttm:
• P/FCF ttm:
• PEG ratio:
• Cash Ratio ttm:
• Quick Ratio ttm:
• Current Ratio ttm:
• Gross Mgn ttm:
• EBITDA Mgn ttm:
• Operating Mgn ttm:
• Net Income Mgn ttm:
• Trailing Div yield:
• Forward Div yield:
• Payout Ratio ttm:
• Ex-Dividend date:
• Target Price High:
• Target Price Low:
• Target Price Mean:
• Number of Analysts:
• Debt Ratio ttm:
• Debt to Equity ttm:
• Total Net Debt:
At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 
                          
      revenues:
    		                      
      homebuilding
    		836,659,000 1,158,988,000 916,671,000 1,099,580,000 970,108,000 1,534,163,000 986,257,000 1,052,236,000 825,221,000 1,135,030,000 893,502,000 942,880,000 767,476,000 1,096,911,000 783,945,000 791,230,000 662,473,000      
      financial services
    		51,180,000 53,680,000 53,133,000 50,925,000 19,763,000 26,589,000 20,612,000                
      total revenues
    		887,839,000 1,212,668,000 969,804,000 1,150,505,000 989,871,000 1,560,752,000 1,006,869,000 1,055,747,000 827,800,000 1,137,997,000 895,830,000 945,339,000 769,420,000 1,099,466,000 785,669,000 793,134,000 664,066,000      
      yoy
    		-10.31% -22.30% -3.68% 8.98% 19.58% 37.15% 12.40% 11.68% 7.59% 3.50% 14.02% 19.19% 15.86%          
      qoq
    		-26.79% 25.04% -15.71% 16.23% -36.58% 55.01% -4.63% 27.54% -27.26% 27.03% -5.24% 22.86% -30.02% 39.94% -0.94% 19.44%       
      homebuilding cost of sales
    		715,643,000 966,012,000 755,935,000 917,871,000 783,536,000 1,262,896,000 797,110,000 852,837,000 678,640,000 902,328,000 709,286,000 762,855,000 637,344,000 909,393,000 638,456,000 635,422,000 538,868,000      
      financial services expense
    		42,711,000 46,722,000 45,081,000 40,058,000 12,866,000                  
      selling, general and administrative expense
    		110,903,000 124,311,000 109,509,000 134,699,000 116,694,000 116,806,000 101,886,000 98,926,000 81,793,000 94,362,000 79,963,000 73,709,000 60,761,000 74,476,000 68,839,000 66,015,000 61,710,000 66,317,620 32,434,505 28,686,162 28,148,956  
      income from unconsolidated entities
    		-335,000   -17,000 -180,000 -266,000 -99,000 -5,299,000 -4,903,000 -5,856,000 -4,557,000 -4,704,000 -2,958,000          
      contingent consideration revaluation
    		  1,786,000 -12,706,000 1,100,000 146,000 5,948,000 4,638,000 3,207,000 13,982,000 9,026,000 18,266,000 5,316,000 -822,000 2,641,000 5,042,000 4,192,000 1,771,015 602,090 3,976,980   
      other expense
    		111,000   -3,464,000 4,690,000       -635,000  -148,000 -1,124,000 278,000 -969,000    2,903,048  
      income before taxes
    		18,806,000 78,123,000 60,750,000 74,064,000 71,165,000 168,598,000 92,424,000 106,008,000 70,824,000 135,432,000 103,758,000 95,848,000  58,724,750 81,989,000 89,698,000 63,212,000 75,419,220 27,678,810 36,537,987 22,412,445  
      income tax expense
    		-5,246,000 -19,324,000 -13,694,000 -17,525,000 -16,155,000 -38,106,000 -20,780,000 -23,245,000 -15,141,000 -30,483,000 -24,158,000 -24,206,000 -17,636,000 -31,283,000 -10,371,000 -23,327,000 -16,878,000 -14,049,048 -4,110,795 -4,478,317   
      net income
    		13,560,000 58,799,000 47,056,000 56,539,000                   
      yoy
    		                      
      qoq
    		-76.94% 24.96% -16.77%                    
      net income margin %
    		1.53% 4.85% 4.85% 4.91% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% NaN% NaN% NaN% NaN%  
      net income attributable to noncontrolling interests
    		-304,000 -82,000 -59,000                    
      net income attributable to dream finders homes, inc.
    		13,256,000 58,717,000 46,997,000 56,580,000                   
      earnings per share
    		                      
      basic
    		0.11 0.6 0.47 0.57 0.55 1.34 0.72 0.83 0.55 1.05 0.79 0.7 0.49 0.89 0.71 0.64 0.43 0.58 0.2 0.31 0.18  
      diluted
    		0.11 0.58 0.47 0.56 0.54 1.28 0.7 0.81 0.55 0.96 0.75 0.65 0.45 0.78 0.64 0.6 0.42 0.58 0.2 0.31 0.18  
      weighted-average number of shares
    		                      
      basic
    		92,020,167 93,106,397 92,836,364 93,444,326 93,550,316 93,507,905 93,527,205 93,722,953 93,325,838 93,066,564 93,108,277 93,108,277 92,940,291 92,745,781 92,760,013 92,758,939 92,758,939 92,521,482 92,521,482 92,521,482 92,521,482  
      diluted
    		92,429,194 101,296,630 100,635,669 101,913,888 101,360,214 100,297,139 100,736,148 100,125,681 99,935,524 106,027,548 102,052,181 105,439,519 108,822,306 106,691,248 108,286,433 104,566,243 102,496,876 95,313,593 92,695,197 92,670,727 92,596,960  
      loss from unconsolidated entities
    		 -23,500 103,000                    
      other income
    		 -2,177,000 -3,360,000   -2,714,000 -2,556,000 -1,363,000 -1,761,000 -2,251,000 -1,646,000  -430,000        -482,219  
      net loss attributable to noncontrolling interests
    		   41,000                   
      net and comprehensive income
    		    55,010,000 130,492,000 71,644,000 82,763,000 55,683,000 104,949,000 79,600,000 71,642,000 51,751,000 89,974,000 71,618,000 66,371,000 46,334,000 61,370,172 23,568,015 32,059,670 17,595,963  
      net and comprehensive income attributable to noncontrolling interests
    		    -107,000 -1,239,000 -993,000 -1,820,000 -1,189,000 -2,999,000 -3,503,000 -2,878,000 -2,662,000          
      net and comprehensive income attributable to dream finders homes, inc.
    		    54,903,000 129,253,000 70,651,000 80,943,000 54,494,000 101,950,000 76,097,000 68,764,000 49,089,000 86,332,000 69,641,000 62,624,000 43,716,000 57,302,478 19,135,499 28,573,881 16,120,645  
      financial services expenses
    		     4,063,500 12,156,000                
      other
    		       3,511,000 2,579,000 2,967,000 2,328,000 2,459,000 1,944,000 2,555,000 1,724,000 1,904,000 1,593,000 -827,143 -4,849,766 -1,668,263   
      income before income taxes
    		            69,387,000          
      income from equity in earnings of unconsolidated entities
    		             -2,857,750 -5,137,000 -3,334,000 -2,960,000 -5,197,784 -1,372,690 -1,125,001 -1,732,393  
      interest expense
    		             1,000 5,000 13,000 13,000 19 14,496 15,796 641,861  
      net and comprehensive income attributable to non-controlling interests
    		             -2,085,500 -1,977,000 -3,747,000 -2,618,000 -4,067,694 -4,432,516 -3,485,789 -1,475,318  
      revenues
    		                 852,089,702 362,983,638 365,276,101 343,560,365  
      cost of sales
    		                 712,319,123 303,386,434 303,589,420 291,036,761  
      loss on sale of assets
    		                 -18,207.5 -55,347 48,034   
      loss on extinguishment of debt
    		                 14,062   697,423  
      paycheck protection program forgiveness
    		                   -7,219,794   
      weighted-average number of share
    		                      
      basic
    		92,020,167 93,106,397 92,836,364 93,444,326 93,550,316 93,507,905 93,527,205 93,722,953 93,325,838 93,066,564 93,108,277 93,108,277 92,940,291 92,745,781 92,760,013 92,758,939 92,758,939 92,521,482 92,521,482 92,521,482 92,521,482  
      diluted
    		92,429,194 101,296,630 100,635,669 101,913,888 101,360,214 100,297,139 100,736,148 100,125,681 99,935,524 106,027,548 102,052,181 105,439,519 108,822,306 106,691,248 108,286,433 104,566,243 102,496,876 95,313,593 92,695,197 92,670,727 92,596,960  
      gain on sale of assets
    		                    -65,517  
      income tax benefit
    		                    -4,816,482  
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 
                           
        assets
      		                     
        cash and cash equivalents
      		435,375,000 234,766,000 251,044,000 210,320,000 297,468,000 274,384,000 204,906,000 274,797,000 239,428,000 494,145,000 330,129,000 292,510,000 266,569,000 364,531,000 123,692,000 84,097,000 100,140,000 227,227,020 85,539,220 6,154,320 42,303,231 
        restricted cash
      		43,638,000 49,624,000 39,133,000 48,083,000 50,633,000 65,441,000 27,942,000 21,834,000 28,392,000 54,311,000 33,172,000 33,081,000 30,882,000 30,599,000 38,040,000 45,296,000 60,875,000 54,094,838 181,851,145 46,936,952 49,432,884 
        accounts receivable
      		32,823,000 39,120,000 53,049,000 43,859,000 30,953,000 34,126,000 30,202,000 33,003,000 28,213,000 30,874,000 33,315,000 31,433,000 33,564,000 43,490,000 37,929,000 30,280,000 33,534,000 33,482,341 31,845,905 51,021,302  
        inventories
      		2,140,634,000 2,025,662,000 2,145,638,000 1,990,807,000 1,852,660,000 1,715,357,000 2,060,168,000 1,897,518,000 1,733,488,000 1,440,249,000 1,473,917,000           
        lot deposits
      		534,159,000 545,253,000 551,309,000 531,193,000 517,719,000 458,303,000 367,893,000 301,167,000 268,074,000 247,207,000 241,280,000 247,903,000 262,323,000 277,258,000 291,307,000 288,426,000 275,354,000 241,405,730 156,605,165 107,717,122 91,690,711 
        mortgage loans held for sale
      		147,184,000 205,089,000 114,299,000 152,261,000 189,442,000 303,393,000 177,610,000               
        other assets
      		241,462,000 223,999,000 294,837,000 283,677,000 141,725,000 122,391,000 105,578,000 108,993,000 68,317,000 80,759,000 56,532,000 50,315,000 64,134,000 49,913,000 56,008,000 78,946,000 57,401,000 43,821,512 49,884,074 28,894,891 75,038,216 
        investments in unconsolidated entities
      		20,256,000 26,610,000 10,785,000 12,082,000 12,119,000 11,454,000 6,558,000 20,556,000 17,688,000 15,364,000 14,297,000 13,948,000 13,495,000 14,008,000        
        goodwill
      		377,361,000 377,361,000 375,145,000 377,772,000 345,991,000 300,313,000 300,313,000 300,313,000 305,068,000 172,207,000 172,207,000 172,207,000 172,207,000 172,207,000 172,207,000 171,927,000 171,927,000 171,927,291 30,360,997 30,360,997 30,360,997 
        total assets
      		3,972,892,000 3,727,484,000 3,835,239,000 3,650,054,000 3,487,992,000 3,328,651,000 3,324,660,000 2,985,204,000 2,716,929,000 2,562,439,000 2,384,048,000 2,288,227,000 2,308,797,000 2,371,137,000 2,287,262,000 2,112,786,000 1,992,466,000 1,894,247,623 1,232,581,783 932,281,953 866,722,489 
        liabilities
      		                     
        accounts payable
      		123,162,000 126,130,000 165,329,000 173,972,000 142,682,000 147,143,000 168,982,000 180,856,000 144,466,000 134,115,000 137,146,000 124,185,000 134,741,000 134,702,000 147,510,000 130,115,000 136,665,000 113,498,063 72,306,819 34,204,013 53,383,908 
        accrued liabilities
      		279,781,000 321,457,000 246,823,000 283,290,000                  
        customer deposits
      		86,123,000 69,593,000 88,553,000 84,824,000 103,325,000 125,601,000 130,199,000 129,043,000 169,291,000 172,574,000 163,544,000 163,237,000 165,859,000 145,654,000 170,792,000 190,945,000 206,065,000 177,684,898 109,780,976 93,275,468 77,405,314 
        revolving credit facility and other borrowings
      		1,158,261,000 822,296,000 1,067,389,000 1,140,353,000                  
        senior unsecured notes
      		591,693,000 591,060,000 590,523,000 295,712,000 295,386,000 295,049,000 294,713,000 294,564,000 294,243,000 293,918,000 293,604,000           
        mortgage warehouse facilities
      		139,031,000 192,837,000 108,222,000 144,287,000 181,457,000 289,617,000 170,167,000               
        total liabilities
      		2,378,051,000 2,123,373,000 2,282,516,000 2,136,329,000 2,016,624,000 1,908,291,000 2,034,948,000 1,763,672,000 1,565,894,000 1,476,289,000 1,397,976,000 1,368,748,000 1,458,322,000 1,570,444,000 1,570,890,000 1,465,631,000 1,396,674,000 1,337,864,345 732,678,204 602,879,213 566,522,489 
        commitments and contingencies
      		                     
        mezzanine equity
      		                     
        redeemable preferred stock
      		148,500,000 148,500,000 148,500,000 148,500,000 148,500,000 148,500,000 148,500,000 148,500,000 148,500,000             
        redeemable noncontrolling interests
      		29,539,000 29,539,000 29,539,000 29,539,000 29,019,000                 
        equity
      		                     
        class a common stock
      		374,000 367,000 367,000 367,000 365,000 360,000 345,000 345,000 344,000 329,000 329,000 329,000 327,000 325,000 323,000 323,000 323,000 322,953 322,953 322,953 322,953 
        class b common stock
      		577,000 577,000 577,000 577,000 577,000 577,000 592,000 592,000 592,000 602,000 602,000 602,000 602,000 602,000 602,000 602,000 602,000 602,262 602,262 602,262 602,262 
        accumulated other comprehensive income
      		-452,000 613,000 607,000 583,000                  
        additional paid-in capital
      		298,679,000 298,594,000 293,695,000 288,429,000 284,161,000 281,559,000 276,431,000 271,296,000 268,242,000 275,241,000 271,429,000 270,905,000 267,185,000 264,757,000 262,783,000 261,207,000 259,328,000 257,963,419 256,761,849 255,289,812 253,837,980 
        retained earnings
      		1,183,831,000 1,173,950,000 1,118,608,000 1,074,986,000 1,021,781,000 970,253,000 844,375,000 777,099,000 699,531,000 648,412,000 549,837,000 476,663,000 411,494,000 365,994,000 283,326,000 217,346,000 158,611,000 118,193,998 64,552,332 45,610,738 17,224,903 
        treasury stock
      		-68,008,000 -49,526,000 -40,520,000 -30,847,000 -14,790,000 -7,827,000 -6,670,000 -1,846,000              
        total dream finders homes, inc. stockholders’ equity
      		1,415,001,000 1,424,575,000 1,373,334,000 1,334,095,000 1,292,094,000 1,244,922,000 1,115,073,000 1,047,486,000 968,709,000             
        noncontrolling interests
      		1,801,000 1,497,000 1,350,000 1,591,000 1,755,000 5,487,000 4,688,000 4,095,000 5,293,000 13,066,000 15,375,000 14,501,000 14,608,000         
        total equity
      		1,416,802,000 1,426,072,000 1,374,684,000 1,335,686,000 1,293,849,000 1,250,409,000 1,119,761,000 1,051,581,000 974,002,000             
        total liabilities, mezzanine equity and equity
      		3,972,892,000 3,727,484,000 3,835,239,000 3,650,054,000 3,487,992,000 3,328,651,000 3,324,660,000 2,985,204,000 2,716,929,000             
        contingent consideration
      		  15,677,000 13,891,000 69,130,000 68,030,000 73,497,000 67,549,000 112,956,000 116,795,000 102,813,000 93,500,000 113,965,000 115,128,000 118,196,000 115,555,000 128,248,000 124,056,279 27,712,570 27,110,480 24,340,269 
        property and equipment
      		    28,168,000 26,317,000 24,898,000 8,775,000 8,275,000 7,043,000 7,523,000 7,948,000 7,564,000 7,337,000 7,582,000 6,511,000 6,620,000 6,789,005 3,825,299 4,228,857 4,662,184 
        right-of-use assets
      		    21,114,000 17,172,000 18,592,000 18,248,000 19,986,000 20,280,000            
        accrued expenses
      		    202,971,000 263,317,000 186,667,000 181,668,000 113,808,000 207,389,000 122,924,000 89,854,000 103,963,000 184,051,000 133,319,000 126,823,000 126,906,000 139,367,902 65,740,570 65,908,878 73,525,827 
        construction lines of credit
      		    999,599,000 701,386,000 991,208,000 890,876,000 710,288,000 530,384,000 555,512,000 875,672,000 915,992,000 966,248,000 975,000,000 875,000,000 770,000,000 760,000,000 440,000,000 365,000,000 319,999,950 
        lease liabilities
      		    22,074,000 18,148,000 19,515,000 19,116,000 20,842,000 21,114,000            
        redeemable noncontrolling interest
      		     21,451,000 21,451,000 21,451,000 28,533,000             
        preferred mezzanine equity
      		         148,500,000 148,500,000 156,479,000 156,259,000 156,045,000 155,830,000 155,621,000 155,417,000 155,219,576 154,892,565 6,703,460 6,515,415 
        stockholders’ equity
      		                     
        total mezzanine and stockholders’ equity
      		         1,086,150,000 986,072,000 919,479,000 850,475,000 800,693,000 716,372,000 647,155,000 595,792,000     
        total liabilities, mezzanine equity and stockholders’ equity
      		         2,562,439,000 2,384,048,000 2,288,227,000 2,308,797,000 2,371,137,000        
        operating lease right-of-use assets
      		          21,676,000 21,624,000 23,199,000 24,084,000 24,069,000 25,108,000 26,581,000 19,358,941 12,665,167 12,788,540 13,459,344 
        operating lease liabilities
      		          22,433,000 22,300,000 23,802,000 24,661,000 24,633,000 25,625,000 27,065,000 19,826,233 12,981,615 13,064,645 13,680,884 
        inventories:
      		                     
        construction in process and finished homes
      		           1,212,289,000 1,138,690,000 1,175,107,000 1,370,340,000 1,254,199,000 1,112,085,000 961,778,789 595,643,030 537,758,853 477,052,901 
        company owned land and lots
      		           203,932,000 291,106,000 196,563,000 135,988,000 93,404,000 104,407,000 83,197,267 50,140,666 75,083,602 53,541,065 
        vie owned land and lots
      		           1,037,000 5,064,000 6,515,000 6,502,000 8,414,000 15,564,000 21,685,688 20,708,390   
        total inventories
      		           1,417,258,000 1,434,860,000 1,378,185,000 1,512,830,000 1,356,017,000 1,232,056,000     
        deferred tax asset
      		             4,526,000 6,099,000 4,905,000 5,386,000 4,231,519 3,941,011 3,312,736 571,277 
        intangible assets, net of amortization
      		             4,999,000 6,059,000 7,085,000 8,112,000 9,139,822 1,995,000 2,161,250 2,327,500 
        non-controlling interests
      		             12,970,000 13,508,000 12,056,000 21,511,000 24,081,070 22,771,618 20,873,515 21,696,487 
        equity method investments
      		              11,440,000 14,188,000 14,480,000 15,967,376 7,343,797 7,453,783 6,197,047 
        notes payable
      		              1,440,000 1,568,000 1,725,000 3,291,389 3,913,031 4,048,531 3,880,350 
        total liabilities, mezzanine equity, and stockholders’ equity
      		              2,287,262,000 2,112,786,000 1,992,466,000     
        finance lease right-of-use assets
      		                 140,484 232,917 256,612 304,099 
        finance lease liabilities
      		                 139,581 242,623 267,198 305,987 
        common mezzanine equity
      		                     
        total mezzanine equity
      		                 155,219,576 154,892,565 6,703,460 6,515,415 
        members’ equity
      		                     
        common members’ equity
      		                     
        total members’ equity
      		                     
        stockholders’ equity - dream finders homes, inc.
      		                     
        total mezzanine equity, members’ equity and stockholders’ equity
      		                 556,383,278    
        total liabilities, mezzanine equity, members’ equity and stockholders’ equity
      		                 1,894,247,623    
        members' equity
      		                     
        common members' equity
      		                     
        total members' equity
      		                     
        stockholders' equity - dream finders homes, inc.
      		                     
        total stockholders' and members' equity
      		                  499,903,579 329,402,740 300,200,000 
        total liabilities, mezzanine equity, members' equity and stockholders' equity
      		                  1,232,581,783 932,281,953 866,722,489 
        joint venture owned land and lots
      		                   18,152,136 19,781,033 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 
                             
          cash flows from operating activities
        		                     
          net income
        		13,560,000 58,799,000 47,056,000          51,751,000 89,974,000 71,618,000 66,371,000 46,334,000 61,370,172 23,568,015 32,059,668 17,595,963 
          adjustments to reconcile net income to net cash from operating activities
        		                     
          depreciation and amortization
        		5,192,000 4,320,000 3,686,000 3,801,000 3,269,000 3,279,000 2,149,000 2,602,000 2,197,000 2,668,000 2,671,000 2,677,000 2,635,000 3,246,000 3,776,000 2,086,000 2,144,000 2,913,485    
          amortization of lease right-of-use assets
        		3,130,000 3,401,000 2,835,000 3,829,000 4,018,000 1,718,000 1,697,000 1,737,000 1,836,000             
          stock-based compensation
        		5,231,000 4,898,000 5,266,000 5,307,000 9,453,000 5,128,000 5,135,000 5,063,000 3,462,000 3,812,000 3,812,000           
          deferred income tax expense
        		480,000 19,630,000                    
          contingent consideration revaluation
        		 0 1,786,000 -12,706,000 1,100,000 146,000 5,948,000 4,638,000 3,207,000             
          inventory and lot deposit impairment
        		1,646,000                     
          other
        		-1,198,000 71,000 750,000 577,000 274,000                 
          changes in operating assets and liabilities, net of effects of acquisitions
        		                     
          accounts receivable
        		6,297,000 13,929,000 -9,190,000 -8,328,000 2,665,000 -3,925,000 3,420,000 -4,791,000 2,662,000 2,441,000 -1,882,000 2,131,000 9,926,000 -7,403,000 -7,650,000       
          inventories
        		-113,961,000 113,520,000 -153,839,000 -109,816,000 -60,063,000 346,221,000 -161,244,000 -160,764,000 -172,232,000 34,000,000 -56,550,000 17,602,000 -56,675,000 134,645,000 -156,813,000 -123,961,000 -165,394,000 73,176,447 -36,057,479 -80,619,592 -36,695,361 
          lot deposits
        		10,246,000 6,056,000 -20,116,000 -13,274,000 -53,153,000 -90,409,000 -66,726,000 -33,093,000 -19,258,000 -5,927,000 6,623,000 14,420,000 14,935,000 14,049,000 -2,880,000 -13,073,000 -33,948,000 -44,348,572 -48,888,043 -16,026,411 -24,975,040 
          other assets
        		-9,962,000 22,082,000 -13,005,000 -12,469,000 -18,133,000 -17,509,000 -1,865,000 -19,575,000 13,346,000 -8,588,000 2,518,000 13,172,000 -7,103,000 4,259,000 21,087,000 -17,967,000 -14,091,000  1,540,708 -1,512,373 -31,575,067 
          mortgage loans held for sale
        		57,905,000 -90,790,000 37,962,000 37,181,000 113,951,000 -125,782,000                
          accounts payable and accrued liabilities
        		-44,644,000 -844,000 -46,895,000                   
          customer deposits
        		16,530,000 -18,959,000 3,729,000 -18,823,000 -22,608,000 -4,598,000 1,156,000 -40,247,000 -12,088,000 9,031,000 307,000 -2,622,000 20,205,000 -25,138,000 -20,153,000 -15,120,000 28,380,000 32,720,289 16,505,515 15,870,150 13,071,461 
          net cash from operating activities
        		-49,548,000 143,606,000 -130,981,000 -68,488,000 -44,711,000 306,455,000 -204,975,000 -110,597,000 -247,531,000   103,375,000 -35,589,000 248,712,000 -53,797,000 -100,040,000 -122,498,000 188,253,351 -1,857,270 -73,805,369 -47,481,723 
          capital expenditures
        		-5,266,000 -7,574,000 -4,748,000 -10,306,000 -3,164,000 -3,901,000 -17,552,000 -1,818,000 -2,074,000   -1,623,000 -1,380,000 -1,224,000 -2,398,000 -973,000 -950,000 -1,078,896 -417,809 -567,903 -709,764 
          free cash flows
        		-54,814,000 136,032,000 -135,729,000 -78,794,000 -47,875,000 302,554,000 -222,527,000 -112,415,000 -249,605,000   101,752,000 -36,969,000 247,488,000 -56,195,000 -101,013,000 -123,448,000 187,174,455 -2,275,079 -74,373,272 -48,191,487 
          cash flows from investing activities
        		                     
          purchase of property and equipment
        		-5,266,000 -7,574,000 -4,748,000 -10,306,000 -3,164,000 -3,901,000 -17,552,000 -1,818,000 -2,074,000 -875,000 -903,000 -1,623,000 -1,380,000 -1,224,000 -2,398,000 -973,000 -950,000 -1,078,896 -417,809 -567,903 -709,764 
          proceeds from disposals of property and equipment
        		114,000 -136,000 19,000                   
          investments in unconsolidated entities
        		-1,146,000 -15,000,000 0 -750,000 -1,187,000 -5,766,000 -789,000   0            
          return of investments from unconsolidated entities
        		7,500,000 -930,000 535,000 790,000 296,000 311,000                
          payments for acquisitions, net of cash acquired
        		 0    -3,720,000                
          purchase of investment securities
        		-32,172,000 -6,444,000 -3,473,000                   
          proceeds from sales of investment securities
        		20,002,000                     
          net cash from investing activities
        		-10,968,000 -23,926,000 -4,664,000 -81,664,000 -115,591,000 -24,135,000 -7,827,000 -3,699,000 -186,011,000 -479,000 -1,054,000 -1,591,000 -1,360,000 -1,499,000 -2,551,000 -544,000 -930,000   -569,398 -22,915,714 
          cash flows from financing activities
        		                     
          proceeds from revolving credit facility and other borrowings
        		391,312,000 351,000,000 422,526,000                   
          repayments on revolving credit facility and other borrowings
        		-55,347,000 -596,093,000 -495,490,000                   
          proceeds from mortgage warehouse facilities
        		143,930,000 87,606,000 -36,685,000 -44,246,000 195,862,000 727,752,000                
          repayments on mortgage warehouse facilities
        		-197,736,000 -2,991,000 620,000 7,076,000 -304,022,000 -608,302,000                
          payments of debt issuance costs
        		-24,000 -404,000 -10,204,000 -268,000 -452,000 1,000 -362,000   -27,000 -11,233,000 0 -125,000         
          payments of preferred stock dividends
        		-3,375,000 -3,375,000 -3,375,000 -3,375,000 -3,375,000 -3,375,000 -6,750,000 0 -3,375,000 -3,375,000 -3,113,000 -3,375,000 -3,375,000 -3,450,000        
          payments for common stock withheld for taxes
        		-5,139,000 1,000 0 -1,037,000 -6,846,000 0 0 -2,008,000 -10,456,000 0 0           
          repurchases of common stock
        		-18,482,000 -9,006,000 -9,673,000 -16,057,000 -6,963,000 -1,157,000 -4,824,000               
          distributions to noncontrolling interests
        		 65,000 -300,000 -123,000 -3,839,000 -440,000 -400,000    -2,629,000 -2,985,000 -1,024,000         
          net cash from financing activities
        		255,139,000 -125,467,000 167,419,000 60,454,000 168,578,000 -175,343,000 149,019,000 143,107,000 152,906,000   -73,644,000 -60,730,000 -13,815,000 88,687,000 68,962,000 3,121,000 316,045,772 217,184,286 35,729,924 76,922,404 
          net increase in cash, cash equivalents and restricted cash
        		194,623,000    8,276,000         233,398,000 32,339,000 -31,622,000 -120,307,000 5,769,309 214,299,093 -38,644,843 6,524,967 
          cash, cash equivalents and restricted cash at beginning of period
        		284,390,000 0 0 0 339,825,000 0 0 0 548,456,000 0 0 0 395,130,000 0 0 0 281,322,000 8,162,184 0   
          cash, cash equivalents and restricted cash at end of period
        		479,013,000 -5,787,000 31,774,000 -89,698,000 348,101,000 106,977,000 -63,783,000 28,811,000 267,820,000 185,155,000 37,710,000 28,140,000 297,451,000 233,398,000 32,339,000 -31,622,000 161,015,000 13,931,493 214,299,093   
          payments of contingent consideration
        		 -751,000 0   -5,613,000 0 -26,418,000 -2,841,000 0 287,000 -12,089,000 -529,000 13,274,000        
          deposits on pending acquisitions
        		                     
          proceeds from sales and maturities of investment securities
        		 6,158,000 4,359,000                   
          proceeds from senior unsecured notes
        		 0        0            
          proceeds from borrowings related to consolidated inventory not owned
        		                     
          redemption of series b preferred units
        		                     
          net decrease in cash, cash equivalents and restricted cash
        		  31,774,000   106,977,000 -63,783,000 28,811,000 -280,636,000  37,710,000 28,140,000 -97,679,000         
          deferred income tax benefit
        		   8,586,000 -1,715,000                 
          payments for acquisitions
        		   -71,548,000 -111,556,000                 
          net and comprehensive income
        		    55,010,000 130,492,000 71,644,000 82,763,000 55,683,000 104,949,000 79,600,000           
          adjustments to reconcile net and comprehensive income to net cash from operating activities
        		                     
          changes in operating assets and liabilities, net of effects of acquisition
        		                     
          accounts payable and accrued expenses
        		    -74,797,000 92,981,000 -3,171,000 69,477,000 -117,658,000 81,433,000 46,032,000 -24,666,000 -80,049,000 37,925,000 47,984,000 -9,591,000 -10,570,000 49,027,539 44,415,926 -38,494,955 8,412,371 
          lease liabilities
        		    -3,982,000 -1,665,000 -1,661,000 -1,726,000 -1,814,000             
          proceeds from disposal of property and equipment
        		    20,000 -56,000 21,000 21,000 46,000 166,000 149,000 32,000 20,000 25,000 85,000 27,000 15,000 67,113 -19,401 130,240 330,216 
          proceeds from construction lines of credit
        		    510,213,000 195,210,000 205,556,000 180,620,000 280,000,000 0 0 2,665,000,000 2,745,000,000 3,015,577,000 7,777,500,000 180,000,000 50,000,000 358,257,501 535,000,000 25,000,050 976,317,315 
          repayments on construction lines of credit
        		    -212,000,000 -485,032,000 -105,224,000 -32,000 -100,096,000 -25,128,000            
          gain on sale of property and equipment
        		      -48,000 -26,000 -46,000 -12,000 -24,000 -1,000 -19,000 7,000   -9,000    -65,517 
          deferred tax expense
        		      1,237,000     -1,953,000 -83,000   -245,000 16,878,000     
          return on investments, net of income from unconsolidated entities
        		      234,000 -1,305,000 -2,325,000 -1,297,000 -49,000 -453,000 513,000         
          payments for business combination
        		       -340,000 -183,983,000             
          reconciliation of cash, cash equivalents and restricted cash
        		                     
          cash and cash equivalents
        		       35,369,000 239,428,000  37,619,000 25,941,000 266,569,000  39,595,000 -16,043,000 100,140,000 141,687,800 79,384,900 -36,148,911 42,303,231 
          restricted cash
        		       -6,558,000 28,392,000  91,000 2,199,000 30,882,000  -7,256,000 -15,579,000 60,875,000 -127,756,307 134,914,193 -2,495,932 49,432,884 
          total cash, cash equivalents and restricted cash
        		       28,811,000 267,820,000  37,710,000           
          deferred tax benefit
        		        -1,662,000     1,573,000        
          distributions
        		        -8,962,000         20,548,122 -20,561,121 0 -23,276,323 
          extinguishment of unamortized debt issuance costs
        		             1,000 0   0    
          income from paycheck protection program
        		                     
          changes in operating assets and liabilities
        		                     
          business combinations, net of cash acquired
        		             0    -496,770,721 -77,388 0 -22,616,862 
          proceeds from common stock issuance
        		                     
          proceeds from issuance of convertible preferred stock
        		                 0    
          payments of equity issuance costs
        		                   0 -12,571,671 
          conversion of llc units
        		                 0 0 0 -123,657,596 
          contributions
        		                     
          redemptions of preferred units
        		                     
          adjustments to reconcile net income to net cash provided by/(used in) operating activities
        		                     
          amortization of right-of-use operating lease assets
        		          1,821,000 1,827,000 1,790,000 1,685,000        
          revaluation of contingent consideration
        		          9,026,000 18,266,000 5,316,000         
          operating lease liabilities
        		          -1,740,000 -1,754,000 -1,764,000 -1,673,000 -9,856,000 -1,440,000 7,239,000 5,336,826 -83,030 -616,239 -729,676 
          net cash provided by/(used in) operating activities
        		                     
          net cash (used in)/provided by financing activities
        		                     
          supplemental disclosures of noncash activities:
        		                     
          noncash financing activities
        		                     
          leased assets obtained in exchange for new operating lease liabilities
        		          1,873,000 251,000 906,000  625,000 69,000 8,170,000 7,472,986    
          total noncash activities
        		          1,439,000 471,000 1,120,000         
          amortization of debt issuance costs
        		           1,132,000 1,132,000 1,136,000 848,000 1,136,000 724,000 693,159 -162,351 518,388 910,747 
          principal payments on construction lines of credit
        		           -2,705,320,000 -2,795,256,000 -3,027,621,000 -7,677,500,000 -75,000,000 -40,000,000 -38,257,501 -460,000,000 20,000,000 -946,702,546 
          accrued distributions
        		           220,000 214,000    -3,102,000     
          stock compensation expense
        		            2,430,000 1,977,000 1,575,000 1,880,000 1,364,000 1,201,568 1,472,039 1,451,831 1,108,238 
          total cash, cash equivalents and restricted cash shown on the condensed consolidated statements of cash flows
        		            297,451,000         
          income from unconsolidated entities, net of return on investments
        		                     
          remeasurement of contingent consideration
        		             -822,000 2,641,000 5,042,000 4,192,000 1,771,015 602,090 3,976,980 1,182,745 
          payment of debt issuance costs
        		             -49,000 -421,000 -4,944,000 -125,000     
          redemptions
        		                 0 0 0 -25,530,506 
          contribution from conversion of converted llc units
        		                 0 1 0 123,657,596 
          contributions from non-controlling interests
        		                 0    
          distributions to non-controlling interests
        		             -4,179,000 -526,000 -13,202,000 -5,188,000   -4,308,757 -11,717,948 
          payments on financing leases
        		                 -25,040 -24,575 -38,789 -39,075 
          income from equity method investments, net of distributions received
        		              2,706,000 -110,000 1,482,000 -1,684,180 623,310   
          investments in equity method investments
        		                 -779,813 -600,000   
          returns of investment from equity method investments
        		              42,000       
          proceeds from notes payable
        		              0 258,000 320,000 128,000 416,000 1,261,681 1,158,642 
          principal payments on notes payable
        		              -128,000 -415,000 -1,886,000 -749,643 -551,500 -1,093,500 -23,284,519 
          payment of equity issuance costs
        		                     
          proceeds from stock issuance
        		                   0 142,569,035 
          non-cash financing activities
        		                     
          financed land payments to seller
        		                 0 0 0 8,916,211 
          equity issuance costs incurred
        		                 375,600 0 0 905,965 
          non-cash investing activities
        		                     
          investment capital reallocation
        		                 0 -30 0 -3,468,731 
          total non-cash financing and investing activities
        		              625,000 3,171,000 5,068,000 105,871,280 675,957 0 6,353,445 
          total cash, cash equivalents and restricted cash shown on the consolidated statements of cash flows
        		              32,339,000 -31,622,000 161,015,000     
          loss on sale of property and equipment
        		                  -90,313   
          amortization of right-of-use operating lease
        		               1,542,000 947,000 1,292,368 799,361   
          operating lease rou assets
        		               -68,000 -8,170,000 -6,478,353    
          payments on contingent consideration
        		                 0 0   
          returns on investment from equity method investments
        		                5,000     
          amortization of right-of-use financing lease
        		                 23,694 23,695   
          changes in operating assets and liabilities, net of effects from acquisitions
        		                     
          other assets and accounts receivable
        		                     
          return of investments from equity method investments
        		                 32,503 86,675 468,265 80,696 
          proceeds from issuance of common stock in ipo
        		                     
          payment of debt issue costs
        		                 -151,441 -3,621,222   
          other financing activities
        		                     
          supplemental disclosure of cash flow information
        		                     
          cash paid for interest, net of amounts capitalized
        		                     
          contingent consideration
        		                     
          forgiveness of paycheck protection program
        		                     
          net cash provided used in investing activities
        		                     
          proceeds from issuance of common stock
        		                     
          total cash, cash equivalents and restriced cash shown on the consolidated statements of cash flows
        		                  214,299,093 -38,644,843 91,736,115 
          depreciation
        		                   954,242 973,006 
          payments of operating leases
        		                     
          income fom paycheck protection program
        		                     
          income tax expense
        		                   4,478,317 4,816,482 
          deferred tax asset
        		                   -2,741,459 -571,277 
          amortization of rou operating lease
        		                    759,904 
          amortization of rou financing lease
        		                    31,691 
          income from equity method investments, net distributions received
        		                    -1,732,393 
          contributions to non-controlling interests
        		                     
          cash, cash equivalents and restricted cash at beginning of year
        		                    85,211,148 
          cash, cash equivalents and restricted cash at end of year
        		                    91,736,115 
          leased assets obtained in exchange for new financing lease liabilities
        		                     
          preferred issuance
        		                     
          unit compensation expense