For the week ending January 18, 2014 the Las Vegas new home market saw a significant jump in Traffic and, especially, Net Sales. Nearly 140 total net sales produced a figure of 0.8 per Subdivision for the first time since the 3rd Quarter of last year. Four Builders (KB Home, Lennar, Richmond American, and Ryland Homes) reported over 15 Net Sales each. Six Builders averaged more than 1 sale per subdivision.
KB Home's Portola Hills community in Henderson was the top performer for the week bringing its Total Sold to Date to 7 since opening earlier this month. The community features plans from 1849 to 3059 SqFt and is priced from $279,990 to $325.990.
Based on our discussions with some Sales & Marketing people, reasons for the strong week seem to include:
- Pent up demand for specific home sites to be released
- Prospect buyers from late last year deciding to pull the trigger
- Quality Traffic (Qualified and Willing Buyers)
- Interest Rates Remaining Low
- Typical sales improvements as the new year progresses
There were two newly reporting Subdivisions for the week. KB Home opened the first phase of their San Severo community in the Southwest (135 Lots) and Storybook Homes has re-started building at Encantos near Craig Rd. and Nellis after laying dormant since the middle of 2012 (29 lots).
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