For the week ending June 8, 2014 the new home segment in Las Vegas showed a slight downturn compared to previous weeks with Traffic per Subdivision coming in at just over 18 and Net Sales per Subdivision at 0.8. I suppose agents and buyers are still adjusting to the heat!
DR Horton and Lennar once again paced all builders, each with over 20 Net Sales for the week, accounting for nearly 40% of all activity. All but one builder reported at least 1 Net Sale, however two-thirds also reported at least 1 Cancellation.
Subscribers will notice that Warmington Residential has been removed from the report as they have closed down their operations in the NW at Providence and will look to return to the market with new products sometime this fall.
More and more new products continued to open again this week as KB Home debuted three different product lines at their Pearl Creek community in Henderson. Lennar also reported 6 combined Net Sales for their newly reporting communities Skyridge and Sunridge Heights. Finally, Richmond American began reporting for their Barcelona neighborhood in the SW part of the valley.
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