As subscribers to our Weekly Traffic & Sales Watch report have already seen, new home sales numbers jumped slightly for the week ending August 24, 2014. Traffic numbers remained stable from the past few weeks, but there were over 20 more Net Sales reported than the previous week. While we didn't see a huge number from any single builder (like American West's 31 the week before), cancellations dropped by nearly 10 and six different builders reported double digit sales totals. Woodside Homes in particular saw an above average week with 12 of their 13 reported sales coming out of Summerlin. KB Home's Centennial Springs community was reported the single highest sales number for the week.
Looking at base prices, DR Horton & Ryland Homes both reported price increases for multiple communities. There were no newly reporting communities this week. As reported in our newly released Las Vegas Housing Market Letter, we hope to see healthy sales numbers over the next few weeks to meet projections despite the issues builders are having with the various entities regarding engineering delays.
If you aren't subscribing to the Weekly Traffic & Sales Watch and the Las Vegas Housing Market Letter, do you really have the full, current picture of the Clark County new home segment? We think not, subscribe today!