Las Vegas Weekly Traffic & Sales Update

For the week ending September 21, 2014 new home sales activity was again weak after showing improvement the previous week.  This seems to be the new trend as the market has  leveled off over the past couple of months.  Hopefully, this week's slight downturn is not an early start to the normal seasonal downturn heading into the end of the year.  Buyer traffic has also leveled off over the past couple of months but seems to be holding at levels similar to what we saw at this time last year.

Looking at Net Sales, Lennar Homes led all builders with 18 reported, followed by American West, KB Home, and DR Horton, all of whom reached double digits for the week.  American West's Southbrook was the single best performing subdivision with eight reported sales.

Harmony Homes began reporting their new Mesa Verde community in the SW valley with 39 total lots priced in the mid-$200,000s.  Next, we also had Toll Brothers debut Vista Dulce, an attached product in South Summerlin near Bishop Gorman High School with floorplans ranging from 1588 to 1889 square feet.  Finally, over the last two weeks DR Horton has began reporting three separate product lines in Warm Springs Ranch in Henderson.  The project has 424 total lots with 13 different floor plans across the three collections named Bay, Creek, and Manor.

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