June 2017 Reports Now Available

Our subscribers have recently received our various housing reports containing data from June 2017.  Here are some highlights:

  • For our Las Vegas Land Report we are reporting over $310 million in transactions with local homebuilders accounting for nearly $30 million of that total while grabbing over 75 acres of land.
  • In our New Home Closings and Permits report we are reporting over 800 closings for the second month this year.  On the permit side, there were over 1,000 new home building permits pulled across all of Clark County for the first time since 2008!

New Home Closings vs Permits 2017

These are just two of our monthly reports which continue to be counted on by the top professionals with an interest in the southern Nevada housing market.  Subscribe to these or any of our reports today at HomeBuildersResearch.com.

Posted on July 20, 2017 .

LV Weekly New Home Activity Update

For the week ending July 16th, new home sales activity again remained steady, reporting nearly 1 sale per project overall.  Buyer Traffic per project saw an uptick, actually posting the highest value of the year.  DR Horton reclaimed the top spot in overall sales last week, outpacing the next closing competitor by over 15 sales.  On a "per project" level, American West, Century, Del Webb, Lennar, and Woodside all had strong weeks, selling more than 1 home per active project.

Net Sales vs # of Projects by Price Range

New Home Net Sales w/e 170716. Based on average base price.

DR Horton also had 4 communities in the top 5 for net sales among individual communities with Expressions in North Las Vegas once again reporting an impressive 12 for the week.  Their other top performing projects were spread throughout the valley including Henderson (Newport Manor), the southwest (Spanish Ranch Estates 2), and the northwest (Coral Bay South).  

KB Home began reporting figures from the first community in Summerlin's newest village, Stonebridge.  Their Caledonia project has two sets of products and 237 total lots.  Caledonia and Stonebridge are pushing the western limits of the valley along Charleston Blvd toward Red Rock Canyon.  We have seen no less than two other builders close on parcels of land in the new village as well. 

As always, subscribe to the Weekly Traffic & Sales Watch for the complete set of data, currently covering over 255 active new home projects in Southern Nevada.

Q2 2017 New Home Traffic & Sales Summary Now Available

We at Home Builders Research have just released our Las Vegas New Home Quarterly Traffic and Sales Summery for the 2nd quarter of 2017.  As we have been showing in our Weekly Traffic & Sales Watch, new home net sales are doing very well throughout Southern Nevada.  We are reporting overall net sales figures to be up 12% from Q1 2017 and 14% from Q2 2016.  

Focusing in a little further, we see the following year-to-year changes in the six sub-market areas of the Las Vegas valley:

New Home Net Sales Q2 2016 v 2017

  • EAST  -33%
  • HENDERSON  +16%
  • NORTH LAS VEGAS  +2.5%
  • NORTHWEST  -16%
  • SOUTH  +206%
  • SOUTHWEST  +15%

Here we see a perfect example of how specific the market is based on location, location, location...  To qualify this data, we will show the number of communities active in these areas:

# of Active Projects by Sub-Market Area

Looking at individual builders, we don't see much change at the top of the rankings from a year ago.  That doesn't mean however, that the next tier of the market isn't getting shaken up.  Private, local builder American West Homes jumped into the top 5 in this year's report and Toll Brothers made it into the top 10.  Among others in the "middle third" of builders in terms of volume, Century Communities was another "gainer" in market share while CalAtlantic, Pulte/Del Webb, Pardee, and Woodside Homes dipped year-to-year.  

Our quarterly summary is a 40 page report jammed full of data and graphs on the new home segment.  Even better, you can also get the report in spreadsheet format which allows the client to sort and manipulate the data as they like to dive deeper and create charts and graphs as needed.  If neither of these solutions work for you, simply Contact Us with your needs and we will surely be able to provide you what you're looking for.  Download the report or subscribe today.

LV Weekly New Home Activity Snapshot

For the week ending July 9th, we are reporting another strong week of sales.  The "Net Sales per Subdivision" calculation in the Weekly Traffic & Sales Watch has not fallen below 0.8 since the end of February (21 weeks).  In 2016, this number (or greater) was only reached 13 times all year.

 

One caveat on this week's numbers is an abnormal number of sales from the new Reverence community from Pulte Homes in Summerlin.  They reported nearly 50 net sales in their first week in our report.  Unfortunately, we were not able to break those sales down into the smaller subdivisions within the greater project which we are working on remedying in the future since there is a broad range of product lines available.  In the overall community of Reverence, plans range from 1,579 to 4,815 square feet with base prices starting at $353,880 and going all the way up to nearly $800,000.

Lastly we are displaying a heat map of net sales activity for the week.  While this map is mostly un-surprising, notice the increase in activity in the far SE of Henderson and the far SW.  These areas are the latest reaches of the valley opened up to development over the past few months.

To have access to this raw data each and every week subscribe to the Weekly Traffic & Sales Watch today.

May 2017 Las Vegas Housing and Land Reports Available Now

Over the past couple of weeks our subscribers have been receiving our various reports containing data from May 2017.  For a complete overview of our monthly reports, check the section of our website with that label located on the top menu bar.  Our land and housing reports have been the "go to's" for housing professionals in Southern Nevada for over two decades.

If after looking over these reports you find they don't quite fit your needs, Contact Us and let us help you with a custom solution.

Today we'll look at some data from our Las Vegas Land Report, a comprehensive list of Clark County land transactions each month.  Specifically, we'll check on homebuilder land purchase activity.  For May we are reporting no less than 16 homebuilder purchases, the most of any month in 2017.  Seven of these were for parcels of five or more acres.  The largest of these was a piece in the Henderson foothills of nearly 60 acres bought by Blue Heron Design/Build.  Just after this were two closings in the upcoming Villages at Tule Springs masterplan in North Las Vegas.  Pardee Homes and KB Home both paid $200,000 per acre.

For the complete list of transactions, download the latest issue of the Las Vegas Land Report or subscribe today!  

LV Weekly New Home Activity Update

For the week ending June 25, 2017 the new home segment of the Las Vegas housing market continued to perform well despite record setting temperatures.  It marked the 14th straight week we are reporting over 200 net sales in our Weekly Traffic & Sales Watch.  American West Homes and Richmond American Homes led the way with 23 net sales each.  American West has continued to report impressive sales numbers despite having less than 3.5% of the total number of active subdivisions.   

New Home Market Share %

Net Sales vs. Reporting Projects w/e 6-25-2017

American West also reported the top selling single project with Jones Crossing continuing to rack up sales.  Over the past three months it has reported an average of 19 net sales per month and since opening in July of 2014, nearly 10 per month.  

There were two newly reporting projects this week, the first being Pivot from Pardee Homes.  It is located in Henderson and has 88 home sites with plans ranging from 2091 to 2422 square feet.  The second was Emerald City from Storybook Homes, located in the South sub-market with prices starting in the high $200,000s.  

For the complete data set, subscribe to the Weekly Traffic & Sales Watch today.

LV Weekly New Home Activity Update

For the week ending May 28th the new home segment of the Las Vegas valley housing market dropped slightly from a very strong previous 4-5 weeks but still maintained what we would consider a "better than average" performance in terms of net sales per project.  We also reported the highest cancellation rate since mid-March in our Weekly Traffic & Sales Watch.  

Lennar Homes led all builders with 31 net sales across 24 projects while 10 different builders reported double-digit net sales, a very healthy distribution historically.  Of those ten, American West and Beazer Homes were the only two that have less than 10 reporting projects.

Market Share % - Number Reporting Projects

Market Share % - Total Net Sales

We added six newly reporting communities to the report this week.  DR Horton began reporting numbers for Azure Springs, a 20-lot neighborhood in the NW, and Solandra in the SW which has 18 homesites and sits adjacent to their larger Spanish Ranch Creek offering.  KB Home added another group of 69 lots to their "Reserves" line of products (typically 45' wide lots), in Inspirada parcel 4-3.  Lennar Homes added Davyn Ridge and The Hudson in North Las Vegas and Oluna in Summerlin South.  Davyn Ridge is a reboot of 157 lots from an old Ryland Homes project on Gowan and Valley Dr.  The Hudson is just down the street on Craig and Simmons and represents Lennar's return to building attached product and will consist of 250 units.  Oluna is located in the "Cliffs" village off of Hualapai and Patrick with prices starting in the high $500,000s.

For all the specifics on everything mentioned here and so much more, subscribe to the Weekly Traffic & Sales Watch today.

LV Housing Market Letter Vol. 355 Now Available

Subscribers have recently received Volume 355 of our Las Vegas Housing Market Letter with data and commentary from April 2017.   We are reporting a significant year-to-year increase in new home closings, permits, and median price.  We also look at the most active communities in terms of permits pulled in April.  Not surprisingly, the southwest submarket area boasted four of the top eight projects led by Jones Crossing from American West Homes.  Jones Crossing has been very impressive in 2017, averaging over 15 net sales per month over the past three months.

The April data continues to make a very strong statement toward 2017 becoming a ‘game changer’ for the new home industry in Las Vegas
— HBR President Dennis Smith

Dennis also discusses activity in the highly competitive and tight resale housing segment, including closings and median price.  We also use this month's letter to remind clients of our in-house database, ready to be unleashed on your custom research needs.  Join the ever increasing list of top industry professional that stay informed by reading the Las Vegas Housing Market Letter each month.  Subscribe today.

     

Las Vegas Weekly New Home Activity Update

For the week ending May 21, 2017 new home traffic and sales activity continued to thrive with builders averaging 1 net sale per project for the fourth time in five weeks.  We'll see if the hotter temperatures this week have an affect the number of buyers getting out to look at homes around town.  

American West Homes really hit a home run last week leading all builders with 40 net sales.  A high total for any builder, but especially for one that accounts for less than 4% of the total number of communities to our Weekly Traffic & Sales Watch.  Their Jones Crossing project was the single best performer with 15 net sales alone!  

Beazer, Del Webb, Century, and KB Home also reported strong sales weeks.  There were no newly reporting subdivisions this week.  For all of the numbers emailed to you every week, subscribe to the Weekly Traffic & Sales Watch today.

 

Q1 2017 Luxury Condominium Market Report Now Available

Along with our friends at Northcap, we are happy to release the latest issue of our Luxury Condominium Market Report for the 1st quarter of 2017.  We are reporting a year-to-year increase in overall transactions of nearly 7%, with Palms Place and Veer Towers being the most active projects.   When looking at overall sales, we saw a year-to-year increase of just over 7%.

The report is an invaluable resource for anyone with an interest in the luxury condo market in Las Vegas, and we consistently see orders from all of the major investment and financial centers across the country.  The level of detail contained in the report for both the sales and rental markets are truly second to none.  Download your today!

Posted on May 18, 2017 .