Las Vegas Weekly Traffic and Sales Update

For the week ending December 7, 2014 the New Home Sales per Subdivision dropped to 0.4 for the first time in just under one year although Buyer Traffic per Subdivision jumped from the past couple of weeks to 14.5.  Only two builders reported double digit Net Sales with American West Homes leading the way with just 11.  That number equated to a nearly 15% market share while American West accounts for just 5% of all reporting subdivisions.

There were 2 new subdivisions reported this week, both in the Northwest Sub-Market.  Richmond American Homes debuted Janell Estates, a 10 lot project, and Touchstone Living began reporting Cobblestone at Lone Mountain.  Janell Estates will be sold out of the "North Sales Center" at Richmond's Loma Pointe community.  Cobblestone will feature the same floorplans and prices as the Residences at Lone Mountain, located in the same area.  Both projects add to the growing number of communities offering "larger" floorplans (over 2500 sq. ft.).

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